This technique has its origins in Greco-Roman antiquity and is therefore much older than oil painting. The Egyptians used it to create mummy portraits (see on the left)
In encaustic painting, hot beeswax is mixed with dammar, a tree resin. Pigments are then added to create the various colors. These are applied in liquid form to a wooden base and then melted and baked with a gas burner ('encaustic' comes from the ancient Greek ἐγκαυστική [τέχνη] énkaustikē [téchnē], i.e. the art of making baked paintings').
In this process, up to 40 layers of wax are applied on top of each other, which gives the paintings enormous depth and shine. When using relatively cold wax, structures can be added and exciting effects can also be created by engraving or scratching.
Wax painting can also be combined with oil sticks, pastels and alcohol inks and shellac - the technique is incredibly fascinating...