Efinity Secures The Parachain & Gears Up For Great Things
Enjin closed 2020 by achieving a great milestone for its Efinity parachain as it won the sixth auction in Polkadots crowd loan and can now proceed with further development and deployment.
7.7 million $DOT was staked among 10,000+ community members and investors in the crowd loan, amounting to over $214M in funds.
By ensuring a spot at Polkadots Auctions, Enjin will build Efinity Blockchain to serve as thr NFT highway with cheaper and faster transactions in comparison with Ethereum Blockchain.
Efinity will be onboarded at block #9,388,800 at lease 7 (March 11), waiting for the auction’s 6-11 winners.
About Efinity and Enjin
Enjin is the leading ecosystem for non-fungible tokens (NFTs), offering a comprehensive suite of products for creating, trading, distributing and integrating NFTs into virtual worlds. Efinity parachain on Polkadot, owned by Enjin, is a blockchain where transactions are cheaper and faster than the standard Ethereum Blockchain.
Enjin plans to make NFTs carbon-neutral by 2030 with its upcoming blockchain, Efinity, to consume significantly lower electricity than Ethereum and Bitcoin.
Jumpnet is already out and working; it’s a sidechain of Ethereum that connects the Enjin platform with the Ethereum network. It works fast, has no fees, and users are minting NFTs like crazy.
Efinity will consume around 4,060,000,000,000 watts per year, that’s ~0.15 of the electricity used by Ethereum.
The PoS (Proof-of-Stake) protocol ensures that Efinity’s carbon footprint won’t increase as the network becomes more populated.
Enjin has grown to become much more than a gaming platform. Its vision with Efinity marks the beginning of a new era with instant transactions, almost zero fees, and interoperability between all blockchains.