Enjin Unveils NFT and Digital Assets Focused Enjin Blockchain June 9, 2023 June 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJune 9, 2023 by Kelly Cromley

Enjin Unveils NFT and Digital Assets Focused Enjin Blockchain

Enjin, a prominent ecosystem catering to NFTs and digital assets, has introduced Enjin Blockchain. The state-of-the-art blockchain technology, designed exclusively for Non-Fungible Tokens (NFTs) and digital assets, facilitates transactions at the protocol level. The utilization of the open-source Substrate framework for constructing the blockchain is a unique approach towards NFT technology. This signifies a novel epoch for the Enjin and Efinity communities, along with the prospective course of #NFTs and #Web3.

Enjin’s Blockchain incorporates several unique attributes, including Fuel Tanks, which empower developers to absorb transaction fees, rendering them imperceptible to end-users. A notable characteristic is the Discrete Accounts feature, which streamlines the user experience by enabling interaction with the blockchain without necessitating a wallet.

The launch of Enjin Blockchain is considered a significant stride towards achieving widespread acceptance. This solution offers a cost-effective and user-friendly approach for creators, enterprises, and individuals to optimize the potential of NFTs and digital assets. Enjin is widely acknowledged as one of the earliest gaming ecosystems for NFTs globally, and this blockchain marks a significant milestone in their journey.

As a component of the latest approach, Enjin Coin (ENJ) will transfer from the Ethereum network to the Enjin Blockchain’s Mainnet as its inherent token. The Enjin Coin (ENJ) and Efinity Token (EFI) will merge, bringing together their respective communities in a just and transparent manner.

The Efinity para chain of Polkadot, which belongs to Enjin, has been effectively forked and is now referred to as the Efinity Matrixchain on the Enjin Blockchain. Current Efinity users will undergo a smooth transition, as all blockchain information will be securely transferred. There are plans in place for the future deployment of the Enjin Matrixchain and other Matrixchains, which will serve to broaden the scope of digital ownership and interaction possibilities.

Enjin Blockchain is set to be utilized in Enjin’s community initiatives, which will promote its integration and usage. Furthermore, the Enjin App Layer can be customized by developers, enabling cost-effective integration of NFTs. The Enjin Matrixchain platform will utilize the robust Proof-of-Stake system offered by Substrate to ensure high levels of security and reliability.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.