What is Enjin Coin?
Enjin Coin (ENJ) is a cryptocurrency created by the Enjin Network, a Singapore-based gaming company.
It is designed to be used as a digital currency for gaming and virtual goods. The Enjin Network is a platform that allows developers to create and manage virtual goods, such as in-game items, characters, and currencies. Enjin Coin is an Ethereum-based ERC-20 token that can be used to purchase virtual goods within the Enjin Network.
It can also be used to pay for services within the network, such as game development and hosting fees. The coin can also be used to reward players for their in-game achievements or loyalty. The Enjin Network has developed a suite of tools that allow developers to easily integrate blockchain technology into their games.
This includes an SDK (Software Development Kit) that allows developers to create custom tokens and integrate them into their games. These tokens are then stored on the Ethereum blockchain, allowing players to securely store and trade their virtual assets with other players on the network. Enjin Coin also provides users with access to its own decentralized exchange (DEX), which allows users to trade ENJ tokens with other cryptocurrencies without having to go through a centralized exchange.
This provides users with more control over their funds and reduces the risk of theft or fraud associated with centralized exchanges.