WAX Removes Wallet Creation Fee to Improve Accessibility

The Worldwide Asset eXchange (WAX) has removed the fee required to create a blockchain account through its Cloud Wallet.

Previously, new users had to pay 5 $WAXP to set up an account, a measure originally introduced to prevent automated bot activity. The removal of this fee is intended to make it easier for new users to join the WAX blockchain and encourage broader adoption by reducing the financial barrier to entry.

WAX stated that its blockchain “is stronger than ever” and is therefore making account creation easy and free.

What is WAX?

WAX is a blockchain network designed for high-volume transactions, with a particular focus on gaming, digital assets, and NFTs.

Unlike some other blockchains, WAX does not charge transaction fees, allowing users to interact with dApps and trade assets without incurring costs for each transaction.

The blockchain is built to support large-scale activity, processing up to 10,000 transactions per second. It has been adopted by various NFT projects, game developers, and digital marketplaces due to its efficiency and ease of use. WAX also offers a Cloud Wallet, which allows users to manage their assets without needing extensive technical knowledge of blockchain technology.

What’s next for WAX?

The removal of the wallet creation fee is one of several changes WAX has planned for 2025. Initially, the fee was introduced to prevent excessive bot activity and automated account creation, but WAX has stated that its security measures have since evolved, allowing the paywall to be lifted.

In addition to this change, WAX has is rolling out several upgrades this year to enhance its blockchain infrastructure, developer tools, and marketplace. The Cloud Wallet will receive mobile apps for iOS and Android, expanded support for side chains, Testnet environments, and EVM compatibility.

On the blockchain level, WAX is improving security and decentralisation, including quantum-proofing, decentralising its Random Number Generator (RNG) system, and making its Multichain Bridge open-source. Performance optimizations, such as RAM efficiency improvements, will help scale the network whilst maintaining smooth operations.

For developers, WAX is simplifying node deployment and expanding documentation to support dApp integration. Meanwhile, the vIRL Marketplace will undergo improvements to enhance the trading experience.