NFT Platform Enjin introduces Enjin Blockchain, unites Polkadot Parachain Efinity and Enjin
In the growing NFT market, one name continues to push the boundaries and redefine the landscape: Enjin. Known for its pioneering work in the NFT (non-fungible token) space, Enjin has once again made headlines with the introduction of its NFT-focused blockchain, aptly named Enjin Blockchain. This aims to unite Polkadot parachain Efinity and Enjin, creating a seamless ecosystem that promises to transform the NFT market.
Enjin brings Enjin Blockchain for NFT enthusiasts
Enjin, a leading blockchain platform specializing in NFTs and digital assets, unveiled the Enjin Blockchain. Specifically designed for NFTs and other protocol-level digital assets, this innovative blockchain marks a significant advance in the field.
Enjin Blockchain is built on the open source Substrate framework and stands out with its unique design philosophy specifically tailored for Non-Fungible Tokens (NFT). Unlike other platforms that rely on smart contracts, Enjin Blockchain integrates important functions such as creating, using and transferring NFTs directly into the core code.
This innovative approach enables projects to create scalable and future-proof digital assets with advanced capabilities while maintaining compatibility with other ecosystems.
Designed to adapt to future market needs, the architecture of Enjin Blockchain strikes a balance between cost-effectiveness and scalability without sacrificing security. This makes it a robust and flexible platform that is ready to meet the changing demands of the digital resource area.
Enjin Blockchain introduces unique features such as Fuel Tanks, which allow developers to cover transaction fees, making these costs invisible to the end user. In addition, discrete accounts allow users to engage in projects on the Enjin Blockchain without having to download specific wallet software, simplifying the user experience. Due to the established Enjin application layer, integration of the Enjin Blockchain is easy for developers and creators of all scales via easy-to-use tools.
Enjin Proposes to Merge Efinity Token (EFI)
In a significant move, it is proposed that Enjin Coin (ENJ) will transition from the Ethereum network to become the native token of Enjin Blockchain’s Mainnet, on a one-to-one basis. This strategic shift will enable the Enjin Coin community to take full advantage of the advanced features of the Enjin Blockchain.
Moreover, it is also proposed that Efinity Token (EFI) will be combined with Enjin Coin (ENJ), bringing together the EFI and ENJ communities. This merger will be conducted in a fair and transparent manner, and emphasizes the community’s dedication to decentralized governance and active participation.
In an important step forward, Efinity, the Polkadot parachain, has been effectively transferred to the Enjin Blockchain, where it now operates as the “Efinity Matrixchain”, pending approval through a referendum. Efinity Matrixchain is fully functional, enabling a smooth transition for current Efinity users.
All blockchain data from Polkadot Efinity, including balances, states, NFT and fundraising balances and addresses, has been securely transferred to the Efinity Matrixchain on the Enjin Blockchain.
Enjin Co-Founder and Chief Technology Officer Witek Radomski said: “The Enjin Blockchain makes the creation and mass distribution of NFTs affordable and accessible to everyone. Our goal is nothing less than to revolutionize gaming, ownership and online identity.”
Looking forward, the upcoming deployment of Enjin Matrixchain as the leading Matrixchain on Enjin Blockchain is an exciting development. This Matrixchain, which will surely inherit all data from Efinity, will use ENJ as its native currency and will serve as the primary platform for users to create NFTs and digital items. Enjin Matrixchain is set to be both the spiritual and technical successor to Efinity, embodying Enjin’s commitment to innovation, user-centric design and mass adoption.
It is also noteworthy that key Enjin community projects will use the Enjin Blockchain, enhancing the integration and adoption of the Enjin ecosystem. All Enjin community projects are invited to join the Enjin Blockchain.
The Enjin Blockchain and the soon-to-be-launched Enjin Matrixchain will be protected by Substrate’s robust Proof-of-Stake system, powered by Enjin Coin (ENJ). This consensus method guarantees top-level security, reliability, and sustainability, and fosters a trusted environment with which the community can interact.