Enjin Coin (ENJ) in a Nutshell

Enjin is a community creation platform for gamers. They have 18.7 million registered users and over 250,000 gaming communities. It is very popular in the Minecraft community and is used as the basis for sites such as Mineplex and Minecade. Enjin provides people with easy access to create their own customized community. They offer website templates, forums, teamspeak and even custom plug-ins for specific games as part of their service.

Inspiration for Enjin Coin

Having been deeply involved in the gaming community since 2009, they saw an opportunity to merge cryptocurrency and gaming. Leveraging there sizeable existing user base, they aim to create a decentralized platform to manage, distribute, trade, and even create virtual goods.

With Enjin Coin (ENJ) they plan to provide

  • an easy to use cryptocurrency targeted specifically at gamers
    • players can earn and trade virtual goods in the most popular gaming community creation platform online
  • real ownership and value
    • players can trade their assets across different games and communities in a hassle free manner
  • a solution to fraud and high fees
    • there are existing options for trading online virtual goods, but these third party choices are unreliable because of fraud and high fees. ENJ hopes to provide a credible alternative with minimal transaction costs.

Why use Enjin Coin

Aside from advantages listed above, another feature they intend to roll out with ENJ is the ability for communities and developers to mint their in-game items. They will have to stake some Enjin Coin upon the creation of the item. This prevents abuse by not letting them create rare items free reign, and also ensures that the item has an innate minimum value attached to it. These assets can also be converted back to Enjin Coins at the original exchange rate they were created.

Resources:

https://www.enjin.com/

https://enjincoin.io/enjincoin_whitepaper.pdf

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