Enjin Coin (ENJ) is the native coin of the Enjin Blockchain and plays a vital role in facilitating transactions on the network. It serves as the primary currency for paying transaction fees, as well as the voting mechanism for network Governance, consensus, and block nomination facilitated through ENJ staking.
The Enjin Blockchain employs a decentralized governance model that is fully controlled by Enjin Coin holders, independent of the Enjin company. Anyone can suggest network changes and vote on submitted proposals, ensuring an inclusive and democratic decision-making process.
Starting July 1st, 2023, Enjin Blockchain will launch with full governance support and without super-user (SUDO) access. This will ensure that governance remains decentralized, transparent, and fair.
In addition to its utility functions, ENJ also serves as a medium of exchange within the ecosystem and rewards active community participation. The Enjin Blockchain is fully integrated with popular Enjin products, such as the Enjin Wallet, NFT Marketplace, Platform SDKs, and more, to provide a seamless end-to-end user experience.
The Enjin Blockchain is built on a foundation of equitable inclusivity, custom chain creation, Interoperability, accessibility through low-cost participation, scalability & speed, and regulatory compliance. The security of the network is ensured by a nominated proof-of-stake staking mechanism deployed on the Relay Chain, and the rewards mechanism is compliant with SEC regulations.
Staking ENJ is made easy through an intuitive user interface directly from the Enjin Wallet. Users can allocate their ENJ to the most productive, trustworthy, and curated nomination pool with just one click, bypassing the need to manually select individual nodes.
Updated 3 months ago