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Efinity - Enjin launches NFT blockchain platform based on Polkadot

Time : 17/02/2022 Author : 16i50n Click : + -
        It is reported that crypto, a crypto trading platform, has led the new NFT blockchain platform of Enjin and raised US $18.9 million. The platform is called "efinity", which is an NFT blockchain based on Polkadot. It is reported that it will provide greater scalability for the expanding NFT participants. The announcement details the technical specifications of the new NFT blockchain, stating that efinity will have the initial throughput capacity to process transactions every six seconds. The project team plans to achieve the scalability of 1000 transactions per second by using the proof of interest consensus. In addition to scalability, Enjin will also design cross chain interoperability in the NFT field as part of creating real NFT elements.
        Therefore, Enjin is studying a new token standard called "paratoken" to provide cross chain function for NFT. With paratokens, market participants will be able to connect digital collections from other blockchains to the efinity ecosystem. "Digital assets should exist in the metauniverse of the blockchain. Open liquidity across multiple blockchains and use cases will connect the broad ecosystem of creators, buyers and sellers. The efinity blockchain will also have its own native token, called the efinity token (EFI). Enjincoin (enj) holders can pledge enj to earn EFI, and EFI is the fuel for processing new NFT network transactions.
        EFI will also serve as a governance token for the efinity community. As people's interest in NFT continues to increase, Enjin's investors enjoy a huge price return in 2021. Enj tokens increased more than eightfold in March and have risen more than 1700% so far this year.
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