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

SINGAPORE, June 8, 2023 /PRNewswire/ -- Enjin, the leading blockchain ecosystem for NFTs and digital items, releases the Enjin Blockchain, a revolutionary blockchain engineered for NFTs and other digital assets at the protocol level.

Built on the open-source Substrate framework, Enjin Blockchain is set apart with its unique and dedicated design philosophy tailored towards Non-Fungible Tokens (NFTs). Unlike other solutions, Enjin Blockchain doesn't rely on smart contracts, and instead ensures that critical functions, such as creating, using, and transferring NFTs are integrated directly into the foundational code. Thanks to this novel approach, projects are empowered to craft scalable, future-proofed digital assets with advanced capabilities, all while maintaining interoperability with other ecosystems. Engineered to meet and adapt to future market requirements, Enjin Blockchain's architecture balances cost-efficiency and scalability without compromising security.

Enjin Blockchain's innovative features, such as Fuel Tanks, allow developers to subsidize the cost of transaction fees, making those costs invisible to the end-user. Moreover, Discrete Accounts allow users to immediately interact with a project using Enjin Blockchain without the need to download dedicated wallet software, further simplifying the user experience. With support from the longstanding Enjin application layer, integration of Enjin Blockchain is accessible to developers and creators of all sizes through intuitive and easy to use tooling.

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

The whitepaper detailing the vision and architecture of the 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 the Enjin Blockchain's Mainnet on a 1:1 basis. This strategic migration allows the Enjin Coin community to leverage the cutting-edge capabilities of 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 shortly.

In a significant development, Efinity, the Polkadot parachain, has been successfully forked to the Enjin Blockchain, operating as the "Efinity Matrixchain" pending ratification through a referendum. The Efinity Matrixchain is already operational, allowing a seamless transition for existing Efinity users. All blockchain data from Polkadot Efinity, including balances, states, NFT & collection balances, and addresses, has been securely inherited by the Efinity Matrixchain on the Enjin Blockchain, ensuring the continuity and integrity of user data.

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

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

Existing key Enjin community projects will utilize the Enjin Blockchain, strengthening the integration and adoption of the Enjin ecosystem. All Enjin community projects are invited to onboard on the Enjin Blockchain.

The Enjin App Layer has been an essential tool in 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:

• Enjin Wallet and Enjin Web Wallet
• NFT.io Marketplace & NFT Platform
• Enjin Beam, a QR code-based NFT distribution system
• Enjin Platform (API and SDK middleware for NFT integration)

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

Finally, the 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 gaming content management system that attracted over 21 million users and over 500,000 gaming community websites. Enjin also hosted some of the largest Minecraft servers during the game's frenzy era. Radomski later became a self-taught blockchain developer and authored the widespread ERC-1155 standard for NFTs, which addressed limitations in 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 items landscape. Join the Enjin ecosystem on this remarkable journey as it shapes the future of digital ownership, NFTs, and blockchain technology.

For more information about the Enjin Blockchain and how it's set to pioneer the future of NFTs and digital items, please refer to the Enjin Blockchain whitepaper.

For media inquiries and further information, please contact:

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

About Enjin

Enjin is the leading blockchain ecosystem for NFTs and digital items, empowering individuals, developers, and enterprises 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.

Enjin Press Kit:
https://enjin.io/press-kit

SOURCE Enjin