Enjin Blockchain and Efinity Matrixchain: A New Era and the Future of NFTs

SINGAPORE , June 8, 2023 /PRNewswire/ — Enginethe leading blockchain ecosystem for NFTs and digital assets, is launching Enjin Blockchain, a revolutionary blockchain developed for NFTs and other digital assets at the protocol level.

Built on the open source framework, Enjin Blockchain stands out with its unique and dedicated design philosophy tailored towards Non-Fungible Tokens (NFT). Unlike other solutions, Enjin Blockchain does not rely on smart contracts, instead ensuring that critical functions, such as creating, using and transferring NFTs, are integrated directly into the underlying code. Thanks to this new approach, projects are empowered to create scalable, future-proof digital assets with advanced capabilities, while maintaining interoperability with other ecosystems. Engineered to meet and adapt to future market demands, Enjin Blockchain’s architecture balances cost-effectiveness and scalability without compromising security.

Enjin Blockchain’s innovative features, such as fuel tanks, allow developers to subsidize the cost of transaction fees, making these costs invisible to the end user. Also, discrete accounts allow users to instantly interact with a project using the Enjin Blockchain without having to download dedicated wallet software, further simplifying the user experience. Backed by the long-standing Enjin application layer, Enjin Blockchain integration is accessible to developers and creators of all sizes through intuitive and easy-to-use tools.

A testament to the thriving Enjin community, as one of the world’s first NFT gaming ecosystems, the Enjin Blockchain represents a significant milestone in the journey towards mainstream adoption by providing an easy-to-use and cost-effective solution that empowers creators, businesses and individuals to leverage it full potential of digital assets and NFTs.

The white paper describing the vision and architecture of Enjin Blockchain can be accessed here.

As part of this transition, Enjin Coin (ENJ) is proposed to migrate from the Ethereum network to become the native token of Enjin Blockchain’s Mainnet on a 1:1 basis. This strategic migration allows the Enjin Coin community to leverage the cutting-edge capabilities of the Enjin Blockchain.

Furthermore, Efinity Token (EFI) is proposed to be merged with Enjin Coin (ENJ), uniting the EFI and ENJ communities through a fair and transparent process, reflecting the communities’ commitment to decentralized governance and participation.

The proposed governance and token-related documentation will be released soon.

In a significant development, Efinity, the Polkadot parachain, has been distributed with the Enjin Blockchain, acting as the “Efinity Matrixchain” pending ratification through a referendum. Efinity Matrixchain is already operational, allowing a seamless transition for existing Efinity users. All Polkadot Efinity blockchain data, including balances, states, NFT and collection balances and addresses, have been securely inherited by the Efinity Matrixchain on the Enjin Blockchain, ensuring the continuity and integrity of user data.

There is also future deployment of Enjin Matrixchain as the flagship Matrixchain on Enjin Blockchain. Inheriting all data from Efinity through the same secure process, this upcoming Matrixchain will use ENJ as the native currency and will be the primary platform for end users when creating NFTs and digital items. Enjin Matrixchain represents the spiritual and technical successor to Efinity, and embodies Enjin’s commitment to innovation, user-centric design and mass adoption.

Furthermore, future deployment of additional Matrixchains, primarily tailored to meet the specific needs of businesses and large communities, is expected. These Matrixchains will offer a tailored Web3 environment that meets the unique requirements of different applications and use cases, expanding the possibilities of digital ownership and interaction.

Existing core Enjin community projects will use the Enjin Blockchain, strengthening the integration and adoption of the Enjin ecosystem. All Enjin community projects are invited to join the Enjin Blockchain.

The Enjin App Layer has been an important tool for driving low-cost NFT integration since 2018, and it can be easily integrated even by indie game developers without expensive blockchain development resources. The app layer consists of:

Developers have adapted these components for Enjin Blockchain and are now available for use by anyone in the community.

Finally, Enjin Blockchain and the upcoming Enjin Matrixchain will be secured by Substrate’s robust Proof-of-Stake system, powered by Enjin Coin (ENJ). This consensus mechanism ensures the highest levels of security, reliability and sustainability, enabling the community to engage with confidence.

The Enjin ecosystem traces its roots to the users of Enjin, a Singapore-based software company founded in 2009 by Maxim Blagov and Witek Radomski. Enjin developed a content management system for games that attracted over 21 million users and over 500,000 gaming community sites. Enjin also hosted some of the biggest Minecraft servers during the game’s frenetic era. Radomski later became a self-taught blockchain developer and authored the widespread ERC-1155 standard for NFTs, which addressed limitations of the ERC-20 and ERC-721 standards.

The Enjin community remains at the forefront of blockchain innovation, empowering individuals, developers and enterprises to revolutionize the digital object landscape. Join Enjin ecosystem on this remarkable journey as it shapes the future of digital ownership, NFTs and blockchain technology.

For more information on Enjin Blockchain and how it is set to pioneer the future of NFTs and digital objects, please see Enjin Blockchain White Paper.

For media inquiries and further information, please contact:

Oscar Franklin Tan, Chief Financial Officer
Rene Stefancic, Chief Operating Officer
Marian Vanslembrouck, Head of IP and Content
[email protected]

About Enjin

Engine is the leading blockchain ecosystem for NFTs and digital artifacts, empowering individuals, developers and businesses to participate in the digital ownership revolution. With a focus on cutting-edge technology and user-friendly solutions, Enjin aims to reshape the future of digital assets and provide unprecedented opportunities for creators, collectors and enthusiasts worldwide.

Engine press kit:

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SOURCE Enjin