04/15/2024
BTC65,172.0
ETH3,129.75
USDT0.999929
BNB561.0
SOL151.62
USDC1.0
XRP0.505659
DOGE0.159117
BUSD0.997965

Enjin Coin (ENJ) Price

ENJ
4,5
$0.330608
Market cap
475,966,883.0
Total volume
49,485,187
Circulating supply
1,439,388,259
Total supply
1,798,177,945
Enjin Coin emerges as a digital currency tailored for virtual goods, developed by the Enjin network. Recognized as the largest online platform for gaming communities, Enjin hosts over 250,000 gaming groups and boasts a user base of 18.7 million gamers. The Enjin team is dedicated to crafting the coin with a focus on the gaming sector, aiming to position it as the industry’s most functional digital currency. The initiative encompasses Enjin Coin alongside a collection of software development kits (SDKs) that game developers and community managers can assimilate into their platforms. By integrating blockchain technology into gaming, the project aims to mitigate the prevalent issues of excessive fees and fraud in the virtual goods exchange sector.

Enjin Coin is an ERC20 token devised on the Ethereum blockchain, equipping it with not only cryptocurrency features but also enabling smart contract functionalities. It is at the forefront of testing the Raiden Network, which is Ethereum's answer to the Lightning Network. The Enjin Coin ecosystem offers an extensive array of utilities via its public API and SDKs. Although this article will only touch on a few key attributes, it's important to note that Enjin Coin's primary contribution to the gaming community is the streamlined creation and governance of virtual goods. Developers across various platforms can effortlessly generate unique digital currencies for their communities, underpinned by Enjin Coin. This strategy leverages blockchain's advantages (such as speed, cost-efficiency, and security) while allowing customization for different platforms.

Enjin, the entity behind Enjin Coin, is the titan of online gaming community platforms. Since its inception in 2009, the platform garners 60 million monthly views and manages transactions worth millions of US dollars through its community marketplaces every month. The Enjin Coin is set to be integrated across Enjin's CMS platform, which spans over 250,000 gaming websites. The project has garnered support from notable advisors including Anthony Diiorio (Ethereum co-founder) and Pat LaBine (former producer and technical director at Bioware). Moreover, Enjin has established collaborations with industry giants such as Unity, PC Gamer, and NRG eSports. The initiative successfully concluded an ICO in late 2017, raising approximately $35 million. Since then, the team has been focused on developing the Platform API, Mobile Smart Wallet, and a Java SDK, in addition to a Minecraft plugin. Looking ahead to 2018, the roadmap promises exciting developments including various platform plugins, the launch of Efinity, and an expanded suite of SDKs.

Another innovative feature from Enjin is TopLists, a tool that allows the community to rank games, servers, teams, and other items. Deployed as a decentralized smart contract, TopLists will support features like market bidding or participatory voting. Creators of these lists are motivated to promote their compilations since they earn tokens when users engage with the lists, such as casting votes. Enjin Coin stands as a visionary project, endeavoring to fuse the world of online virtual gaming with decentralized technology. The project holds substantial promise, and time will reveal its ability to fulfill these ambitious goals.

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