Enjin was originally established in 2009 when it launched the Enjin Network, a community gaming platform. Still operational today, the Enjin Network service enables individuals to build websites, forums, and apps for gamers.
The company pivoted into the blockchain industry in 2017 following an Initial Coin Offering (ICO) that raised $18.9 million. Since the launch of its ERC-20 token, Enjin Coin (ENJ), the firm has since built out its own set of blockchain tools and services. In January of 2018, the gaming firm released the own android version of its blockchain wallet, the Enjin Wallet. A few months later the firm released an iOS version of its Enjin wallet.
During the summer of 2018, Enjin officially launched its Enjin Platform on the Ethereum mainnet is also compatible with the Kovan Testnet. The Enjin Platform is a platform as a service that allows other game developers to issue fungible and non-fungible assets as in-game Ethereum tokens. That same year, Enjin proposed a new ERC token standard – ERC-1155 – which was approved in 2019 and now implemented in its current software.
Following the inception of the ERC-1155 token standard, Enjin created a marketplace for individuals to buy and sell ERC-1155 assets. Enjin claims to have over 1 million user downloads of its Enjin wallet and that over 3,000 projects have been created on the Enjin Platform.
The Enjin Platform provides a platform as a service model that allows game developers to create and issue digital assets in the form of Ethereum tokens. Enjin utilizes a GraphQL-based API that enables game developers to facilitate the smart contract interactions and other services related to interacting with the Ethereum blockchain.
Additionally, Enjin utilizes a backend service called “Trusted Cloud” that acts as the cloud-hosting service that connects games to Ethereum. Enjin’s Trusted Cloud acts as a proxy that gathers requests from clients and game servers and returns the data back to each game. Enjin’s cloud service also links user’s existing game accounts (i.e. SteamID, X-box live) to a block wallet address.
Enjin’s crypto wallet connects directly to the Enjin Platform and stores all the digital items for games built on Enjin’s Platform. The Enjin wallet must be used for all games on the Enjin platform because it directly links an Ethereum address to an Enjin Platform user identity. The gaming company is also developing "Wallet Daemon", a tool that automates transaction requests to and from the Enjin Platform. Additionally, the Enjin wallet enables a QR service for purchasing or receiving ERC-1155 denominated assets.
Creating any blockchain asset on the Enjin Platform requires spending Enjin Coin. Game developers have the potential to customize the amount of Enjin Coin an in-game item is worth as well as the desired fungibility of each item. Assets and items created for games on the Enjin Platform can always be exchanged back into Enjin coins by users or game developers.
Enjin is also developing an Ethereum scaling solution called Efinity that will be utilized within the Enjin Platform. The company claims games will be able to open channels within the Efinity network that will enhance the speed of relaying information between smart contracts and game servers.