Full description of Enjin Coin
Enjin
Coin (?) (ENJ) is a
Cryptocurrency (?) based on Ethereum’s ERC-20 standard. It is used primarily on the
Blockchain (?) gaming platform with the same name for tokenizing in-game items and as a means of value
Exchange (or Cryptocurrency exchange) (?) between players. Enjin is a Singapore-based company that has been running its business in the gaming industry ever since 2009. It has one of the biggest gaming platforms with the support of over 250,000 gaming communities and 20 million registered players. In 2017, the company decided to switch its business to the blockchain rails in order to provide its users with such benefits as increased data security and irreversible transactions. Enjin’s platform allows its users to tokenize in-game assets. Gamers exchange virtual goods on the blockchain using the ENJ coin to conduct transactions. The transparency provided by the blockchain allows gamers to easily verify the ownership of certain assets. Also, the platform offers an effective solution to deal with fraud and prevents users from losing their belongings due to malevolent actions. ENJ can be used across different games and communities eliminating the barriers between the participants. Apart from ERC-20 tokens, the platform supports ERC-1155 smart contracts that can be both fungible and non-fungible helping users claim their ownership of unique gaming items. In addition to the gaming platform, Enjin has developed a robust solution to help developers create their own blockchain-based games. It utilizes different types of smart contracts such as Smart
Wallet (?) Contract, Subscription Contract, the Mint, Payment Gateway Contract and TopList contract to help users cooperate directly without having to rely on a third-party to govern their deals. Developers can create their own coins backed by ENJ to fuel their projects. Also, Enjin offers its own SDK with a
Decentralized (?) payment gateway helping developers create customized carts, refund plans, and invoices. The Enjin project is neither the first nor the only one in the gaming industry to implement the blockchain technologies. GameCredits and Worldwide Asset eXchange (WAX) have a similar offer, but Enjin already has some solid achievements that can help it win over. In March 2019, Enjin set up a partnership with Samsung to integrate its technologies into South Korean Galaxy S10 models. This piece of news was highly discussed in the media and made the ENJ coin’s price skyrocket. Also, Enjin has set up relations with such companies as Unity, PC Gamer, Arena Match, NRG eSports and a few others which can become a good contribution into the project’s success. Enjin has a multi-national well-knit team standing behind it with proven experience in software engineering, business operations, and blockchain technologies. Its CEO and Creative Director Maxim Blagov has been working on the project ever since its launch. He has received a Computer Science degree at the University of Technology in Sydney. Enjin’s CTO Witek Radomski has been helping Maxim grow the project ever since the foundation. The decision to implement the blockchain technologies was made in 2017 when cryptocurrencies and ICOs were on the rise. Enjin conducted its
ICO (Initial Coin Offering) (?) in October 2017 and raised 12 million USD. 40% of tokens were distributed via Private Sale and the same amount was given away during a Public Sale soon after that with the remaining 20% staying in a reserve. Half of the raised amount was invested in the product’s development and 30% - into marketing and growth. The remaining sum was equally distributed for other needs such as security, hosting, legal support and contingency. ENJ
Token (?) is traded on many different exchange platforms including Binance, Bithumb, Bittrex, and HitBTC. It can be stored on all ERC-20 compatible wallets such as Metamask and MyEtherWallet. Hardware wallets Trezor and Anchos support it, too. The official Enjin Wallet which is one of the project’s key viable products allows storing ENJ on Android and iOS-based mobile devices.
- Exchange symbol (?): ENJ
- Cryptocurrency type (?): Token (?)
Enjin Coin for developers
Enjin Coin social sites
Source: NOMICS
