Enjin Blockchain goes live with new NFT standards

Enjin Blockchain goes live with new NFT standards

Enjin, the foremost ecosystem for gaming and non-fungible tokens (NFTs), has unveiled the Enjin Blockchain. Crafted uniquely for NFTs and digital assets at the protocol level, this revolutionary platform uses the open-source Substrate framework as its foundation.

Create, transfer, and use NFTs without smart contracts

Contrary to prevailing solutions, Enjin Blockchain bypasses reliance on smart contracts. Instead, core functions like the creation, usage, and transfer of NFTs are woven directly into its base code.

This unique approach allows projects to develop scalable and advanced digital assets while ensuring compatibility with other ecosystems. It is designed to adapt to future market demands and melds cost-efficiency, scalability, and security.

New features: Fuel Tanks and Discrete Accounts

Additionally, the new platform introduces other novel features like “Fuel Tanks”, which allow developers to absorb transaction fees, rendering these expenses invisible to users. Additionally, Discrete Accounts enable users to engage with an Enjin project without requiring wallet software – a boon for user-friendliness.

Enjin Blockchain goes live with new NFT standards - 1
Source: Enjin blog

Supported by Enjin’s longstanding application layer, integrating with this new network becomes an effortless endeavor for creators, regardless of their scale. All of these features were created so the Enjin Blockchain can pave the way for mainstream Web3 gaming and NFT adoption.

Efinity Matrixchain

In a major update, Efinity has branched out to the Enjin Blockchain from its original position as a Polkadot parachain. The Matrixchain is primed to be the chief platform for users to craft NFTs and other digital items.

Moreover, future Matrixchains, tailor-made for specific enterprise and community needs, are in the pipeline. These will cater to distinct application requirements, further expanding the spectrum of digital ownership.

Blockchain migration process

Enjin Coin (ENJ) is shifting from its ERC-20 foundation to the Substrate-powered Enjin Blockchain at a 1:1 ratio. Alongside this, the Efinity Token (EFI) is set to merge with the Enjin Coin, integrating both communities in a transparent process committed to decentralized governance. For every 4 Efinity Tokens (EFI) held, users will receive 1 ENJ.

For those wondering how to migrate their assets to the new blockchain, the Enjin team prepared a guide for both NFTs and tokens to facilitate the process.

All integral Enjin community projects will integrate with the new network. The Enjin App Layer, which has been pivotal in facilitating cost-effective NFT integration since 2018, is available for the community. This includes tools like the Enjin Wallet, NFT.io Marketplace, Enjin Beam, and the Enjin Platform.

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