my 2 cents:
I wanted to avoid putting a water based anything on an obect which I
want to dry. Also, monitoring the situation called for a clear film.
Finally, a thick coat would prevent the need for multiple coats. Added
all together I ended up using silicone RTV tubes. Cheap, transparent
and not absorbed by the wood.
As to wax, you could probably buy powdered or pelleted wax, of any
kind, melt as much as you need in an old pot and put it in with a
spatulla. Would probably dry quicker than my silicone rubber but will
it withstand the tumbling and ocassional reshuffling of the logs?
enjoy...
max