|Efinity||ENJ token||Enjin||ERC-1155||Jumpnet||sidechain solution|
Gaming-oriented blockchain solution Enjin will launch its own sidechain Jumpnet today. The sidechain solution will make it possible to move entire game economies over, benefiting from faster and free transactions. A couple of gaming projects have already announced that they will move over.
The online PVP battle game 9Lives Arena will move all its NFTs over from mainnet Ethereum to Jumpnet. Other games like Forest Knight, Spirit Clash and possibly Wavelings, have revealed plans as well. However, quite frankly, there haven’t been many announcements yet in regards to support for Jumpnet. It’s not unlikely that some developers await the full launch of Jumpnet before announcing their move, while others will wait for Efinity by the end of this year.
Jumpnet is a high-speed bridge network that allows users to transfer tokens and ERC-1155 tokens free and instantly. Basically it’s a private version of the Ethereum blockchain, that connect to the Ethereum mainnet through bridging technology. Gamers can enjoy free transfers on Jumpnet, but always move value from the sidechain to the main Ethereum blockchain.
They can also mint and trade ERC-1155 tokens for free, while sending and receiving ENJ tokens is completely free. Initially the road from Ethereum to Jumpnet is one-way, but it will become a two-way street.
So what’s Efinity?
Efinity is the product that has been in the spotlight the most over the past year. It’s the long-awaited promise of Enjin that should benefit the gaming industry. Efinity will be interoperable with multiple blockchains, existing and upcoming ones. Enjin describes their upcoming platform as a home for NFTs.
Efinity is designed to allow any wallet, marketplace, or exchange to adopt multiple blockchains. At the same time users can create and move tokens to multiple chains. Users will be able to move their tokens between Efinity, Jumpnet and Ethereum ‘with the push of a button in their Enjin wallet’.
As a gamer or user you’re not really supposed to notice that Efinity is a blockchain. No hassle with blockchain wallets, transactions confirmed within 6 seconds and a response time that’s good enough for mainstream applications. They promise 700 up to 1,000 transactions per second. Efinity needs to make using NFTs a very smooth and fast experience.
The Enjin ecosystem always had the ENJ token at its core. Every NFT minted within the Enjin ecosystem, is back by at least a bit of ENJ. However, Efinity will get its own EFI token. The launch of Efinity will introduce a new mechanic for the ENJ token. Token holders will be able to stake their ENJ in nodes, and earn passive income in the form of EFI tokens. Even ENJ fused inside an NFT, is automatically eligible for staking. That means that your NFTs will generate passive income in the shape of EFI tokens.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.