Efinity | The Next-Generation Blockchain for Digital Assets

Introduction

Continuing this week with Polkadot and Parachains. Gaming NFT blockchain Enjin is proud to present Efinity, a next-generation blockchain for digital assets, built on Polkadot. Winning the 6th Parachain slot and becoming the first NFT Parachain on Polkadot is just the beginning for Efinity. Over 75 developers and partners have already committed to developing games and apps on Efinity, and behind the scenes, they’ve been talking to some big players in gaming about what Efinity can do to grow their NFT development. Currently, the blockchains that NFTs live on give actual users no incentives besides the possibility of price appreciation. Miners are given the full share of generated tokens. Prices rise, infrastructure companies create silos and paywalls making it difficult to advance real progress in the NFT industry. As the creators of the ERC-1155 NFT standard, Efinity feels strongly about its responsibility to solve this specific problem.

NFT Highway

Fragmented blockchains and marketplaces result in walled gardens that compete for liquidity and hurt the growing digital metaverse. Creators are generally forced to work with crippling fees, inflexible smart contracts, and disjointed interoperability. Making the adoption of today’s NFTs still limited to die-hard crypto enthusiasts. Blockchains like Ethereum have become expensive. Costing the average user $10 or more to move a single token. Efinity’s purpose is to be an NFT highway, not a general computing blockchain. Token creation, transfers, and purchases are the network’s priority. Transaction fees on Efinity are designed to stay in the background, and allow users to experience their favorite collectibles without worrying about how the network operates. Efinity will provide buyers and sellers with a robust Marketplace for creating and filling orders for any token. This functionality facilitates the development of