What is an Engine (ENJ)? - Kakiforex.com - Financial Market Media No. 1 in the World What is an Engine (ENJ)? What is an Engine (ENJ)?

April 20, 2021

What is an Engine (ENJ)?

 Not many are investing in coins Engines (ENJ), a name quite familiar with the Malay tongue.

Basically, Engine is a gaming platform developed on the Ethereum blockchain. Having its own token, ENJ was initially developed with the ERC-20 token before being converted to the ERC-1155 token in 2019.

For information, ERC-1155 is a nonfungible token (NFT) standard for the Ethereum platform introduced by Engine in 2018. In the same year, Engine also launched a blockchain wallet for the android version, followed by the iOS version a few months later.

What makes Engine different from others is that this platform takes full advantage of software development kits (SDKs) and open APIs.

With that power, users are free to create digital assets in Ethereum and integrate with games, the included applications can be used on a wide variety of platforms from both PC to mobile devices.

At the end of March, Engine launched a blockchain for NFT called Efinity. It was developed at Polkadot with a focus on games, apps, businesses and creators. Interestingly, a transaction in Efinity only takes 6 seconds, unlike Ethereum which takes 15 seconds.

The engine has also partnered with the developer of social gaming platform, GameTalkTalk i.e. Ludena Protocol for the NFT market in South Korea as the country has a high rate of gaming interest and cryptocurrencies.

It is rumored that Engine is in plans to publish a new cross-chain token standard known as ‘paratoken’, which will allow any type of token whether NFT or fungible from any blockchain to move to the Efinity network and be used throughout the Polkadot and Kusama ecosystems.

Paratoken is more advanced than the ERC-1155 that was once introduced in 2017 and used by large companies such as Microsoft, Nike, OpenSea and many more.

However, this is just the beginning because Enjin has more projects that will be launched in stages. Stay tuned!