The Enjin platform is a comprehensive ecosystem of goods that allows for the development, distribution, storage, exchange, and even integration of tokenized digital assets. Its users are using the platform to produce ENJ-backed digital assets and deploying them in unique ways - ranging from art NFTs (non-fungible tokens) to digital coupons, to goods that can be utilized across numerous different video games. One Enjin user is even tokenizing commercial real estate on the network.

Over 20 million Minecraft users were able to stay connected and build strong networks of like-minded gamers thanks to Enjin's community management tools. They set out to create the ideal all-in-one tokenization platform by bringing this user-first approach to blockchain. The Enjin cryptocurrency project was built as a full ecosystem that provides its customers with a robust suite of goods meant to allow anybody, regardless of blockchain understanding, to enter the world of blockchain.

History

Enjin (ENJ) is a cryptocurrency that was built on the Ethereum blockchain and came to life in late 2017 through an ICO that garnered 18.9 million USD and it went live in 2018. Its gaming community platform, on the other hand, goes back to 2009. It is a developing initiative co-founded by CEO Maxim Blagov and CTO Witek Radomski. Enjin is a for-profit corporation that began in 2009 as a community gaming platform.

How does it work

Enjin Coin is an ERC20 token developed on the Ethereum network, which means the project not only supports transactions but also smart contracts. Enjin was also one of the first companies to begin testing the Raiden Network, Ethereum's version of the Lightning Network, before opting to work on a unique scaling solution known as Efinity. Through its public API and software development kits, the Enjin platform offers a comprehensive set of functionalities (SDKs). These characteristics are as follows:

Multiple SDKs: Enjin offers software development kits for Unity, Java, Godot, and other platforms. This enables millions of developers to easily merge current projects or create whole new ones.

Marketplace: an online marketplace with over 10 million digital products where users can find, purchase, and sell unusual and unique blockchain assets.

Enjin Beam: a digital asset distribution solution that allows developers to deliver thousands of NFTs/FTs to consumers via QR code scan.

Smart wallet: A blockchain asset wallet that integrates smoothly with games and apps. It's one of the most feature-rich digital wallets in the world, with over 1 million downloads.

Efinity: A future Ethereum scaling solution that will allow for rapid and free transactions of ERC-20 and ERC-1155 tokens.

Virtual goods creation and management: The capacity to develop and manage virtual products is the major feature that the Enjin project provides its customers. Developers may develop their own cryptocurrencies backed by the Enjin Coin.

Total supply and circulation

The total quantity of Enjin Coin is 1 billion ENJ tokens, with only 823,130,411 ENJ coins in circulation. Over ten million ENJ tokens have already been removed from circulation and locked into ERC-1155 tokens held by 127,616 collectors.