25 June 2020
Enjin Coin: The Perfect Coin For Gamers
Enjin was originally founded in 2009. Since then they have been developing a gaming community platform called the Enjin Network. Enjin decided to integrate blockchain assets. ‘Why?’ You may ask. Simple: to adapt themselves to the modern advances on virtual coins. In that way, they would be able to create, manage, and trade their coins, among other services. But how does the Enjin system work? And what exactly is an Enjin Coin? Why are they the best virtual coin for gamers?
What Is The Enjin Ecosystem?
This company works under the idea of an ecosystem. This ecosystem comprises the Enjin Platform, Explorer, Wallet, and Beam. This system aims to empower gamers. They can own digital assets. It can also help game-related industry businesses to increase their revenue. Also, this system works through the well-known Enjin Coin (ENJ).
Enjin Coin is a cryptocurrency designed for virtual goods for the videogame industry. It was created on the Ethereum blockchain. This was to reduce the risk of fraud and the high fees that are common in the transfer of virtual goods.
As it was mentioned, the Enjin Coin is built on the Ethereum network. That means the Ethereum network enables Enjin act as a cryptocurrency. This also allows them the capability to have Smart Contracts. We can use them for exchanging, trading, or transferring rights for anything of value.
In other words, the Enjin Coin is a token based on Ethereum blockchain. It was designed to be used across a huge variety of websites and online games. Additionally, it aims to become the most common currency used by the gaming community. It secures and protects the transference of virtual goods and digital assets. Enjin is not only one of the most secure options to transfer virtual goods, but it also has some other benefits. Enjin gives game developers, content creators, and gaming communities the control. With Enjin, they have all the necessary tools for implementing and managing virtual goods.
How Can I Use The Enjin Coin?
The Enjin Coin can be used for:
⦁ Minting unique in-game items, currencies, and virtual tokens. This can only happen in games that use ENJ as their main currency. These newly-created assets can be converted back into ENJ at any time.
⦁ Trading in-game items.
⦁ Trading assets from game to game, and from community to community.
⦁ Setting up a virtual goods store that accepts ENJ and all custom coins.
⦁ Providing trust and security for all minted goods of ENJ.
Why is it the Best Cryptocurrency for Gamers?
There is a reason why they brand themselves as the best cryptocurrency for gamers. After seeing what we have mentioned, one could say that there is a wide variety of reasons to think that, too. It started as a project to improve the gaming transaction system by avoiding fraud. When gamers use the Enjin Wallet and the Enjin system, they can secure their transactions.
Second, it ensures that the personalized currencies of the games based on ENJ can be converted into ENJ at any time.
Finally, between their features, gamers have access to a variety of opportunities. Such as virtual goods stores, subscription services, and much more. There are also some trading escrows, and “top lists” for items, servers, teams, and games.
In conclusion, Enjin brings the benefits of blockchain to gaming industry markets. Even though they are working to prevent fraud and to provide true ownership to virtual goods holders, they still have so much to prove. Nonetheless, their recent achievements are the best indicator of their future.