What is the Enjin Platform?
The Enjin Platform allows you to create and manage blockchain games without the complexity of building and maintaining your own blockchain infrastructure.
It is an all-in-one blockchain game development platform comprised of the Trusted Cloud, Blockchain SDKs, Platform API, and the Wallet Daemon.
The Benefits of Blockchain
Thanks to the decentralization, immutability, and transparency of blockchain, the Enjin Platform enables you to:
Utilize Innovative Crowdfunding Models: Create your characters, weapons, real estate, and other gaming assets in advance and offer them to gamers via traditional crowdfunding platforms or a stand-alone website.
Enable Player-Driven Value Creation: Enable your users to modify, craft, upgrade, build, and trade blockchain-based gaming assets which can then gain intrinsic, real-life value of their own based on their history, stats, input, and player customization.
Gain User Loyalty and Trust: Give each player an unbreakable bond of trust: true ownership of digital gaming assets value-backed with ENJ. This makes your users not only more loyal but also more likely to make a purchasing decision.
Recapture Lost Revenue: Eliminate or regulate gray market trading, which can amount to over 40% in lost revenue. You can then monetize all trading—whether online, in-game, or peer-to-peer—via implementing blockchain-enforced trading fees.
Build and Join Gaming Multiverses: Build a gaming multiverse of your own, enabling players to use and even level up their characters and items across sequels or entirely different games—or collaborate with other studios to do the same.
Reduce Player Churn: Gaming assets are owned by gamers, safely kept in their private Enjin Wallet. Players must approve each transaction via their wallet, thus making any hacking or in-game fraud impossible—and in turn reducing player churn.
Built on Ethereum, Running on Ether (ETH)
Ethereum is a public blockchain built for trustless computation. It is primarily used to execute self-contained programs known as "smart contracts" via a distributed network of computers. The Enjin Platform utilizes this technology to develop functions that cannot be tampered with, thus offering you and your players a heightened level of security, transparency, and immutability.
The Enjin Platform is built to handle all communication with the blockchain on your behalf. However, there are still several core principles of building on Ethereum that you need to understand:
- Ethereum is the name of the blockchain network, and Ether (ETH) is the name of the currency that is used to pay the network's operators (miners).
- Interacting with the Ethereum network, including Enjin's smart contract, is achieved by issuing transactions that are propagated across thousands of computers throughout Ethereum's decentralized network. The ETH cost of these transactions is calculated automatically for you as a "gas fee" and that is paid to the network's operators as they process your transactions.
- Each transaction takes a variable amount of time to complete, depending on the amount of ETH you have chosen to pay and the kind of prioritization that purchases you from the network's operators.
- Ethereum users can be either people or smart contracts issuing transactions. Every user controls a public address. These addresses are similar to street addresses. They are publicly available and tell participants in the network how to send transactions to each other.
- Users typically store their ETH in apps called "wallets," such as the Enjin Wallet mobile app for Android and iOS. Internally, a wallet tracks the contents within your Ethereum address.
- All addresses also have a private key which should be solely controlled by the address owner. In the case of your wallet, imagine a safe containing all of your ETH at a particular street corner. The public address tells people where to find your safe, but only you can open it using your private key. You use your private key to access the contents of your wallet, but also to "sign" transactions that come from your address. The act of signing confirms that the transaction is coming from you and that you've authorized it to happen. Most players will probably use the Enjin Wallet to sign transactions quickly and easily.
What is Enjin Coin (ENJ)?
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency used to directly back the value of next-generation blockchain assets.
Digital assets that are backed by ENJ have a number of distinct benefits:
Consumer Trust: Owners can melt their assets back into ENJ, increasing confidence in the assets and faith in the projects that offer them.
Certified Authenticity: The ENJ stored within assets proves their origin and guarantees their compatibility with the Enjin ecosystem.
Real-World Value: The perceived value of digital assets is directly correlated with their ENJ backing, making ENJ an effective gold standard.
Asset Scarcity: When existing assets are melted, scarcity increases, thereby lowering their supply and increasing their value.
Tangibility: Unlike other digital assets, tokens backed by ENJ are created with something of value and can be destroyed anytime.
Anti-Inflation: Because ENJ is a limited, valuable resource, backing assets with it is the only way to regulate asset creation.
If you want a more extensive overview of our digital items, check out this video.