How does Enjin Coin work?
Enjin Coin (ENJ) is a cryptocurrency and smart contract platform designed to help game developers create virtual goods and digital assets that can be used in video games.
It is built on the Ethereum blockchain and uses the ERC-20 token standard. Enjin Coin works by allowing developers to create digital assets, such as in-game items, that are stored on the Ethereum blockchain. These assets are called Enjin Coins, and they can be used to purchase items in games or exchanged for other cryptocurrencies.
The Enjin Coin platform also allows developers to create their own custom tokens, which can be used for various purposes within their games. The Enjin Coin platform also provides a range of tools for developers to use when creating their games. These include an SDK (Software Development Kit) which allows developers to easily integrate Enjin Coin into their games, as well as a marketplace where players can buy and sell digital assets.
The platform also provides a wallet service, which allows users to store their Enjin Coins securely. Finally, the Enjin Coin platform also has its own cryptocurrency exchange, where users can trade ENJ tokens for other cryptocurrencies such as Bitcoin or Ethereum. This makes it easy for users to convert their ENJ tokens into other currencies if they wish to do so.