What is Enjin?
Enjin Coin is a creation of Enjin, an organization that offers a blockchain-based gaming ecosystem of integrated goods. The Enjin Network is Enjin’s flagship product, a social gaming platform that enables users to build websites and clans, talk, and host virtual item shops.
Enjin helps game developers to use the Ethereum blockchain to tokenize in-game objects. It backs digital assets issued on its website with Enjin Coin, an ERC-20 currency, enabling them to be purchased, sold, and exchanged with real-world capital.
Enjin Coin was revealed in July 2017 and went live on the Ethereum mainnet in June 2018.
How Does Enjin Work?
The Enjin blockchain platform intends to include tech products that render creating, trading, monetizing, and marketing blockchain simple for everyone.
Enjin, which was established in 2009, has its origins in the gaming sector, with its first offering, the Enjin Network, a gaming community portal, expanding to 20 million users over the span of a decade.
Enjin identified itself as a leading blockchain platform creator in 2017 after an ICO, developing a suite of tech products that enable anybody to quickly mint, maintain, trade, distribute, and incorporate blockchain properties.
Witek Radomski, one of Enjin’s co-founders, wrote the coding for one of the first non-fungible tokens (NFTs) and is also a co-author of the Ethereum token specification ERC-1155.
The Enjin ecosystem, which is built on top of an on-chain architecture, allows game developers and companies of all sizes to use tokenized digital assets for purchase, preservation, engagement, and monetization. Enjin Coin (ENJ), a cryptocurrency used to back the valuation of blockchain properties, powers the Enjin ecosystem.
What is the History of Enjin?
Enjin was created in 2009 as a game community forum by Maxim Blagov and Witek Radomski, with Blagov serving as CEO and responsible for the company’s artistic growth, and Radomski serving as chief technical officer and responsible for the company’s technical progress.
Blagov has worked in artistic direction, publicity, and tech project management and construction, according to his LinkedIn profile.
Radomski introduced the concept of bringing blockchain to Enjin after being involved in Bitcoin (BTC) in 2012, ultimately persuading the business to consider it as a payment method.
He chose to develop his own blockchain-integrated applications after learning about Ethereum and smart contracts.
Radomski is also the author of the ERC-1155 token standard, which was adopted in June 2018 and finalized in June 2019, which is used to mint both fungible and nonfungible tokens.
How do I hold Enjin?
ENJ is an ERC20 token. You can hold it on any common Ethereum wallet, such as Metamask or MyEtherWallet.