From a motorcyclist point of view…
Boiling in wax, forces the water to evaporate, which then leaves the chain…
The melted wax then penetrates the (enlarged by thermal expansion) gaps between the links pins etc.
It then sets as the chain cools filling all the available space, which prevents water from getting back in.
You then re-fit it to the bike and you can run for quite some time before the wax works its way out again and water starts to get back in…
Then you need to start the process again…
From a cyclists point of view, I’m not sure that the benefits are as high, because the wax tends to be quite firm which means that chain efficiency is reduced for a while, and without the wax setting I’m not sure that the water would be kept out for that long…
Hope this is some explanation…
MikeyD
PS Happy christmas to all…