Enjin is introducing a new scaling solution called JumpNet, which will allow users to stake their NFT tokens without having to pay the high network costs that Ethereum currently faces.
In difficult times like the ones we are living Ethereum, besieged by high network gas costs, users need solutions and alternatives that allow them to continue interacting with their applications and products blockchain favorites.
Given that NFTs have become a trend since last year, and that users are increasingly interested in being part of this sector of the digital industry, Enjin is introducing a solution that will allow developers, creators, and users to interact with NFT tokens without worrying about Ethereum's high gas costs and excessive commission fees. The scaling solution, called jump net, is designed to eliminate gas fees and support fungible and non-fungible tokens, known as NFTs, based on any blockchain network, including Ethereum.
In her presentationEnjin explains that JumpNet will open the door to a new multi-chain ecosystem for NFT tokens. This solution serves as a high-speed bridge network that allows the connection of multiple blockchains so that users can make completely free and instant transactions from the Enjin Coin blockchain with ERC-1155 standard tokens.
JumpNet is scheduled to officially launch on April 6.
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Efinity, the Ethereum gaming channel network
The foundation of Enjin's new scaling solution will be the decentralized blockchain for NFTs Efinity, which will make its entrance into the Enjin digital ecosystem at the end of 2021. The network's developers claim that once the new blockchain is operational, NFT tokens on JumpNet will be able to jump between the Ethereum or Efinity networks, providing unique and modern experiences to users, developers and creators, who will not have to worry about the high and unpredictable overhead costs caused by gas fees.
Just like sets Enjin, “Efinity is our next gaming channel network for highly scalable blockchain transactions – our Ethereum scaling solution”Thus, the new network that the Enjin ecosystem is preparing will allow users to carry out almost infinite volumes of transactions, which will remain reliable and verified on the Ethereum blockchain, but which will be carried out at high speed and practically without costs.
Enjin sees the current problems Ethereum is facing with high gas costs as an opportunity that inspires developers to create new innovative tools to meet the needs, demands and requirements of users.
Over 8.000 creators on Enjin
Enjin currently has nearly 8.700 creators on the network, using its tools to build next-generation blockchain assets, and they will soon be able to make use of the two-way bridges between Ethereum, JumpNet, Efinity, and third-party blockchains. This will allow for easy minting and porting of NFT tokens to multiple blockchain networks, and as mentioned, without worries about high gas fees.
The new scaling solutions that the network is preparing allow new users to enter the world of cryptocurrencies and NFTs, without having to have large sums of money to pay high commission fees. This also allows new players to enter Enjin's complex and wonderful ecosystems, even if they have no prior knowledge of cryptocurrencies and blockchain.
Raising the value of ENJ
Whenever a blockchain network’s developers announce a major launch, its token tends to rise in value, driven by the interest and excitement that begins to surround the project. This is no exception for Enjin, whose native token ENJ began to take off in earnest when the platform announced JumpNet.
At the time of writing this article, ENJ is listed on the markets with a value of $1,34 USD, showing growth of over 150% in the last week. The value and utility that the developers of this network provide to their users has led ENJ to grow by over 6.500% since its low of $0,018 USD seen in November 2017.
Enjin has signed numerous partnerships with companies such as ecosystem, who have embraced their platform to bring and empower the potential of blockchain to the masses. In their most recent partnership, Enjin and Microsoft launched a digital game and NFT token in commemoration of the International Day of Women and Girls in Science, celebrated on February 11th each year.
ENJ was also the first gaming token to receive approval from the Japan Virtual Currency Association (JVCEA), and has since begun trading on major Japanese stock exchanges, such as Coincheck y GMO CoinThe approval of the JVCEA has increased the confidence of users and investors in the Enjin ecosystem, which has begun to develop and expand freely towards all sectors of the digital industry.
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