Buy Enjin

Enjin Coin is a cryptocurrency and acts as the backbone of the Enjin ecosystem. This ecosystem combines blockchain technology with the gaming industry and focuses on the creation, management, distribution, and integration of tokenized digital goods. With the transparency, decentralization, and security of blockchain technology, Enjin addresses various problems in the gaming industry, such as high fees and fraud in the transfer of digital goods.

Every digital asset within the Enjin platform is powered by ENJ, providing real value and portability across games and platforms. The Enjin ecosystem offers various products and features, such as the Enjin Wallet, a marketplace for trading tokens, and software development kits (SDKs) that make it easier to integrate blockchain into games and apps.

Who founded Enjin Coin?

Enjin was founded in 2009 by Maxim Blagov and Witek Radomski, who both saw the potential of blockchain technology to transform the gaming industry. Blagov, who has experience in creative direction, marketing, and software project management, is the CEO of Enjin. Radomski became interested in Bitcoin and later Ethereum, playing a key role in developing the technical infrastructure and is the creator of the ERC-1155 token standard.

Enjin Coin offers various applications inside and outside the gaming world. Here are practical applications of Enjin Coin:

• Buying in-game items: Users can use Enjin Coin to purchase in-game items such as weapons, skins, and special characters. They can then store these in their own wallet, giving them full control over their items.
• Trading with other players: Players can trade in-game items with other players while blockchain technology ensures the authenticity of each item, reducing fraud.
• Monetization for developers: Game developers can use Enjin Coin as a means to monetize their app or game, creating a new revenue stream.
• Rewards and loyalty programs: Businesses and developers can use ENJ to reward customers or players for their loyalty or for taking certain actions within an app or game.
• Tokenize physical goods: Users can use ENJ to tokenize and trade physical goods on the blockchain, enabling a new dimension of ownership and trading.

Enjin leverages the Ethereum blockchain and uses various innovative technologies to support users and developers.

Tokenization (Minting)

Creating new digital assets is called tokenization or minting. Developers can mint ENJ tokens by locking them in a smart contract. Every time a token is minted, actual value is locked in ENJ. This mechanism creates a base value for all tokens within the Enjin ecosystem, making them more than just virtual objects; they have intrinsic interchangeable value.

Enjin's own team has developed the ERC-1155 token standard. This standard allows users to use a single smart contract for both fungible (exchangeable) tokens and non-fungible tokens (NFTs).

Selling an asset is termed 'melting' and means that the ENJ is released back to the developer.

Efinity

To address the challenges of scalability and high transaction fees on Ethereum, Enjin is working on Efinity, a scaling solution that enables fast and cost-effective transactions. The goal is to further support the adoption of ENJ and the use of blockchain in gaming and other sectors.

Software Development Kit (SDK) and APIs

Enjin offers a comprehensive Software Development Kit (SDK) and APIs that allow developers to easily add blockchain functionality to their games and apps, significantly lowering the barrier to entry for creating tokenized items.

The Enjin Wallet and Enjin Marketplace

The Enjin Wallet integrates all the platform’s functionalities and allows users to manage, trade, and sell their digital assets. The wallet also supports direct interaction with games and other applications. The Enjin Marketplace acts as a central point for buying, selling, and discovering unique digital items.

Enjin has established partnerships with large and well-known companies from various sectors, including:

• Atari: Together with Atari, Enjin integrates the iconic brand into the Enjin ecosystem. This marks Atari's first entry into the world of blockchain.
• BMW: In collaboration with BMW, users of the BMW Vatage app can convert their BMW Coin reward points into Enjin Coin.
• Microsoft: Microsoft uses Enjin's technology for Azure Heroes, a rewards program for users of this software.
• Samsung: This collaboration with Samsung integrates the Samsung Blockchain Keystore with the Enjin Wallet, allowing users to store digital assets more securely and conveniently on mobile devices.
• Unity: In partnership with Unity, a popular game development platform, Enjin has launched an SDK that makes it easier for developers to integrate blockchain into their apps and games.

As a Proof-of-Stake (PoS) blockchain, Enjin supports staking. Validators and stakers receive rewards and have access to decentralized governance. This means they have a say in the future direction of the Enjin platform. Users can set up a validator or delegate their stake to another validator via the Enjin Wallet.

For staking Enjin Coin, users receive sENJ tokens, which represent the stake and can be re-staked for staking, giving them an additional way to earn extra rewards. sENJ tokens can be exchanged for ENJ at any time.

Enjin stands out from other blockchain and crypto projects with several innovative features and unique applications:

• ERC-1155 Tokens: Enjin introduced the ERC-1155 standard, which allows for the creation of both fungible and non-fungible tokens (NFTs) within a single smart contract. This reduces the complexity and cost of creating new tokens.
• Directly backed by ENJ: Every token created on the Enjin platform is directly backed by ENJ, Enjin’s native cryptocurrency. As a result, all digital assets within the Enjin ecosystem have intrinsic value, adding to their reliability and liquidity.
• Focus on gaming and beyond: In addition to facilitating the creation, management, and trading of in-game items, Enjin also supports the tokenization of physical goods and other forms of digital assets, making Enjin a versatile platform capable of transforming various industries.
• Efinity for scalability: Enjin is working on Efinity, a next-gen blockchain specifically designed for the Enjin ecosystem. The goal is to solve the scalability and high transaction fee issues that many blockchains experience.

Enjin Coin (ENJ) can be bought at Bitvavo. Our platform is accessible to both novice and experienced traders. Here are the steps to buy ENJ via our website or app:

1. Log in to your Bitvavo account or create a new account.
2. Make a deposit by clicking "Deposit".
3. Go to the Enjin Coin (ENJ) purchase page.
4. Enter the amount in Euros you wish to invest or the number of ENJ tokens you want to purchase and click "Buy".

The price of ENJ coins is determined by the current market value. After purchase, ENJ tokens are deposited directly into your Bitvavo account, where you can easily manage or sell them to quickly respond to market changes.

Your Enjin Coin tokens can be safely stored on your Bitvavo account, where the majority of customer funds are secured in cold storage. It is highly recommended to activate two-factor authentication (2FA) as an additional protective measure.

If you prefer to store your ENJ in a personal wallet, you can choose from various software and hardware wallets that support ENJ. After your purchase at Bitvavo, you can effortlessly transfer your ENJ tokens to a personal wallet by simply linking the correct wallet address to your account, giving you full control over your digital assets.