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What is Enjin Coin (ENJ)?
Enjin Coin —— A Product Ecosystem For Blockchain Gaming
- Enjin Coin (ENJ) is an Ethereumbased cryptocurrency that is used to directly back the value of next-generation blockchain assets. It aims to become "the gold standard for digital assets".
- Enjin created the open-source ERC-1155 token standard: it enables game editors to convert various types of assets, such as currency, real estate, digital art, and gaming items into tokens that are usable in blockchain applications.
- Enjin has built a complete ecosystem for on-chain applications, which integrates with its open-source token standard and features a unique blockchain explorer (EnjinX). Enjin focuses on adoption for non-blockchain participants with various solutions for professionals.
- Non-fungible assets (ERC-1155 tokens) can be backed with Enjin Coin. Some of the use-cases range from the certification of ownership, the compatibility with the Enjin ecosystem, their real-world value (as ENJ tokens are traded on exchanges), and tangibility features (they can be destroyed to redeem the ENJ tokens).
Enjin Coin Key Metrics
| Recent Price | $0.594 |
|---|---|
Market Cap | $495,650,349 |
Circulating Supply | 834,313,757 |
Total Supply | 1,000,000,000 |
Max Supply | 1,000,000,000 |
About Enjin Coin
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that is used to directly back the value of next-generation blockchain assets. It aims to become "the gold standard for digital assets". Enjin created the open-source ERC-1155 token standard: it enables game editors to convert various types of assets, such as currency, real estate, digital art, and gaming items into tokens that are usable in blockchain applications.
Enjin is now the largest online game community creation platform. It was launched in 2009 and is headquartered in Singapore. It has been in operation for many years and has 250,000 game community guilds, e-sports teams, minecraft servers, game communities, game clans, role-playing groups, etc. There are currently 18.7 million registered players and approximately 60m of global game player visits per month. The game focuses on content management systems and forum creators. Each community store sells millions of dollars in virtual goods every month. At present, it is trying to use blockchain to transform existing businesses. The "Enjin Coin" launched allows players, content creators and game publishers to add virtual goods and provide value to games and communities.
Enjin Coin Project Team
Enjin was founded as a gaming community platform in 2009 by Maxim Blagov and Witek Radomski, with Blagov becoming CEO and assuming responsibility for the creative direction of the company and Radomski serving as chief technical officer, responsible for the technical development of its products. Blagov has described himself as having experience in creative direction, marketing, and software project management and design.
The idea of introducing blockchain to Enjin was first proposed by Radomski after he became interested in Bitcoin (BTC) in 2012, eventually convincing the company to accept it as a payment option. After learning about Ethereum and smart contracts, he decided he wanted to create his own blockchain-integrated software. Radomski is also the author of the ERC-1155 token standard, a new standard for Ethereum-issued tokens that was introduced in June 2018, finalized in June 2019, and is used for minting both fungible and nonfungible tokens.
Advantages of the Enjin platform
Enjin has built a complete ecosystem for on-chain applications, which integrates with its open-source token standard and features a unique blockchain explorer (EnjinX). Enjin focuses on adoption for non-blockchain participants with various solutions for professionals. The Enjin platform (enjin) based on blockchain technology has the following advantages:
- Ownership of virtual assets. Transactions based on the Ethereum network cannot be deleted, which means that assets will not be lost for no reason.
- Convenient value exchange. Digital assets can be quickly traded, and Enjin wallet also allows users to trade on decentralized exchanges (such as Kyber).
- Stored value. Digital assets that are unwilling to use can be melted into Enjin coins.
- A unified wallet for all items. With only one wallet, users can manage all NFT assets. (NFT assets are no-fungibe tokens, which are non-fungibe tokens. Homogeneous tokens can be exchanged. For example, ETH in Ana’s hands can be traded with ETH in anyone’s hands, and NFT assets have unique Sex, tokens and tokens are not interchangeable, so they are often used in collections and the art world.)
- Based on the ERC-1155 token standard. Non-fungible assets (ERC-1155 tokens) can be backed with Enjin Coin. Some of the use-cases range from the certification of ownership, the compatibility with the Enjin ecosystem, their real-world value (as ENJ tokens are traded on exchanges), and tangibility features (they can be destroyed to redeem the ENJ tokens).
