The Enjin Coin cryptocurrency is created by Enjin, the “largest gaming community platform online” with over 250,000 gaming communities and 18.7 million registered gamers.
As the most usable crypto for the gaming industry, Enjin is designed completely around gaming. The project includes the Enjin Coin, as well as software development kits (SDKs) that developers can incorporate into their games and communities. Blockchain technology helps to reduce the high fees and fraud associated with the transfer of virtual goods.
How Does Enjin Coin Work?
The Enjin Coin token is an ERC20 token built on the Ethereum network. The project not only functions as a cryptocurrency but also as a smart contract platform. Moreover, it’s one of the first projects to test Ethereum’s Lightning Network, the Raiden Network. A laundry list of features can be accessed via the public APIs and SDKs provided by Enjin Coin. This article will only discuss a few of the major ones in order to keep things brief.
Enjin Coin (ENJ): Benefits
There are many benefits of Enjin Coin (ENJ). Some of them are written below:
- Unlimited potential: Since the gaming industry (and virtual world-building in particular) are significant and growing, there is plenty of potential for Enjin Coin (ENJ).
- Relatively affordable price: Enjin Coin (ENJ) still remains almost affordable for all crypto investors, unlike Bitcoins and Ethereum.
- There is already a large community built around Enjin: It has integrated and is operating marketplaces with many participants. It is a fact that Enjin Coin (ENJ) has become an addiction that won’t disappear overnight.
Enjin Coin (ENJ) Staking
If you know where to look, taking Enjin Coin (ENJ) is allowed for users from some exchanges and platforms. By and large, it appears that users and investors from large exchanges and platforms aren’t allowed to stake Enjin Coin (ENJ). Enjin has launched a new ecosystem called Efinity, which will include its own cryptocurrency called Efinity Token (EFI). As part of that ecosystem, Enjin Coin (ENJ) can be staked to earn Efinity Tokens.