While cryptocurrency trading has been around for over a decade, the asset class remains in its infancy compared to industries such as the stock market. That means a lucrative opportunity for newbies searching to capitalize on crypto’s potential.
Nonetheless, that also means massive risks, considering the wild price changes. Thus, you will need various techniques to navigate the associated risks. Dip buying is among the approach that cryptocurrency investors use. This content will analyze the ‘buy the dip’ strategy and its benefits.
What’s Dip Buying?
Dip buying is a terminology you will encounter whenever in stocks and crypto. It’s a strategy where participants purchase assets at discounted prices to benefit when the tokens surge. Like other asset classes, the crypto space has its seasons or cycles. The market could trend upward (bull market) or slump (bear market).
So, dip buying means purchasing assets when prices fall and waiting for returns during bull markets. Expert market players set limits when implementing this method. For instance, some will only invest when prices decline by 20%. That can differ from person to person (depending on the trader’s strategy).
What to Consider Before Dip Buying?
Fundamental Analysis
Conducting a fundamental analysis of any crypto asset is crucial before you invest. Unlike stocks, crypto projects lack study facets such as balance sheets and profits. Therefore, the procedure is different when dealing with cryptocurrency.
Reading the project’s whitepaper is among the easiest ways to complete fundamental analysis in crypto. All legit assets will include a clear, detailed, and systematic whitepaper. Meanwhile, scam offerings might have whitepapers with typographical errors and be challenging to read. Also, you can consider things like the team building the crypto project. You can ask these questions whenever you plan to invest in any digital currency:
Does the project have a whitepaper? Go through it thoroughly.
Is there a loyal community behind it?
How about tokenomics? Check things like massive initial sales.
Who launched the project?
How will the project be of help to the community?
Using Market Trend to Dip Buy
The crypto industry has boomed over the past years, attracting new users and investors. Many countries have seen the potential of this sector. For instance, El Salvador became the first nation to recognize cryptocurrencies as legal tender. Nonetheless, while the digital token market flourishes, not all assets as growing. Bitcoin, the largest crypto by market cap, seems to determine broad trends in this space. Bitcoin usually starts the upside and downward movements in the crypto market. Altcoins hardly stabilize amid BTC dips. Most alternative tokens crash harder during bear markets compared to Bitcoin. Therefore, determining market trends can mean analyzing BTC’s potential direction. You can utilize different technical indicators, including the Moving Average Convergence Divergence (MACD), the Relative Strength Index (RSI), and the Exponential Moving Average (EMA).
The year 2023 is off to a better start, and the crypto market seems on track to a bull run. Considering bear market irregularities, seeing some crypto tokens accumulate gains is impressive. While Tron(TRX) and Polygon(MATIC) accumulate decent profits in the market, Uwerx is a crypto project that presents itself as a prospective gainer, especially with its current presale. Let’s discuss these crypto projects below.
Tron(TRX)
The Tron(TRX) network has been a top player in the market for a while now, and it almost feels like the market declines have nothing on the TRX tokens. While most crypto tokens fall to the lowest of lows, we’ve seen the TRX tokens gain massively, and the network itself generates over $90 million in revenue. The TRX token has seen a 0.12% increase today, and its volume has increased by 3.11% in the last 24 hours. The cryptocurrency has seen more activities in the past few days, mainly for its performances, and experts say it could have one of the biggest blow-ups in 2023.
Polygon(MATIC)
Polygon(MATIC) is another cryptocurrency performing beyond expectations, and its token is currently 1.75% higher, while most altcoins are in the red. The crypto token has positioned itself as a project of value since its inception, and it continues to give value to its community. The crypto projects haven’t only caught investors’ attention but have been in the limelight of most web2 projects. It records one of the higher collaborations with Web2 brands with top companies like Nike, Reddit, Adidas, Starbucks, and many others. Polygon(MATIC) is a top project to consider having in your portfolio.
Uwerx(WERX)
Being early in the blockchain landscape is mostly the determining factor in how much you make off the market. For a project like Uwerx, early adopters have already positioned themselves for the best gains. The tokens are predicted to reach at least $2.5 by 2024, so buying at a low-cost price of $0.041 might be the best decision anyone would make in 2023.
Uwerx is a new crypto project with so much potential, and it could be the next big thing in the freelance market. Uwerx is a project that introduced exciting blockchain solutions into the freelance industry, allowing freelancers to earn more, access better services, and build their careers. The platform is making aggressive plans to offer the best competitive advantage on the market. Uwerx recently launched its Alpha version and is prepped for so much success moving forward.
The WERX tokens are on Stage 5 presale with tokens available at $0.041, and also a chance for early adopters to make the best of the opportunities it presents. WERX Stage 5 presale is accompanied by a 15% bonus. The tokens are tradable once Uwerx launches, and it could be your chance to make some easy 100X, Enter the WERX presale today to secure your spot as a top gainer.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
As the market slowly approaches the bull, more opportunities open up for investors to make money. With such opportunities arising, early adopters are catching up to promising tokens on presale. Uwerx is one of the few crypto projects currently on presale with a high potential to blow up. The project offers utilities use that makes it stand out amongst the thousands of projects out there. While Uwerx raises the bar for presale projects, Chainlink(LINK) is another crypto project worth substantial returns in the current bear market.
Chainlink(LINK)
Data is life, but it’s useless when people cannot access it. Chainlink(LINK) is a crypto project that makes data from the outside world accessible for smart contract execution. The crypto project was created to link off-chain data to smart contracts in the blockchain landscape. The project has been convenient in optimizing smart contract functionality and is at the forefront of crypto evolution. With many trusted partners, Chainlink(LINK) is one of the major players in data processing in the blockchain ecosystem. The platform also allows data providers to monetize the process of providing data for easy access.
Look To Uwerx(WERX) For Substantial Gains In 2023
As the 2nd quarter of the crypto market progresses, we see more crypto projects introduced. Uwerx is a new crypto project introduced to redefine the freelance industry. The crypto token is trending, particularly for its unique offerings and presale, opening investors to massive gains.
Uwerx is a crypto project that aims to give value to its community. The project will allow freelancers access to major features such as decentralization, incentivization, community governance, etc. It also offers much lower fees compared to platforms like Upwork and Fiverr. Uwerx will charge as low as 1% service fees, helping freelancers earn more on its platform. The crypto platform’s utility token, WERX, will work as its governance and utility token. Uwerx, like other decentralized platforms, will utilize a DAO governance model in managing its system.
The project launched its Alpha version recently, and plans are in place for introducing the beta version. Uwerx Alpha version allows users to access some of its features and also for them to sign up on its network. With Uwerx’s plans to revolutionize the freelance community, it is on the radar for major investors and trending amongst early adopters.
The presale has performed relatively well and is currently on Stage 5. The Stage 5 token is $0.041, with a 15% bonus offer for investors. WERX presale allows early entry and a rare chance to make your next 100X. Uwerx is audited by SolidProof and InterFi Network. Therefore, the network is safe and credible. Analysts say it could be the biggest investment of 2023. Join using the links below.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Istanbul, June 9, 2023 — AFAK Events & FIMA PR LLC, a prestigious event organizer based in Istanbul, Turkey. With a solid track record of hosting successful industry conferences, is thrilled to announce the highly anticipated third edition of “SOFTin Space.” This renowned banking and fintech event will be held on the 20th and 21st of June 2023 at the prestigious Hilton Bosphorus in Istanbul, Turkey.
SOFTin Space has firmly established itself as the leading platform for global financial industry professionals to convene, collaborate, and explore the latest trends and innovations within the banking and fintech sectors. This year’s event promises to be the most impactful yet, attracting an exclusive gathering of over 400 CXOs, top executives, and industry influencers.
Distinguished speakers from esteemed organizations, including VISA, Mastercard, The World Bank, The International Finance Corporation (IFC), IBM, and many other prominent institutions, will grace the event, delivering captivating presentations and engaging in insightful panel discussions. These industry leaders will provide attendees with valuable insights, strategies, and perspectives that will shape the future of the financial landscape.
With representation from 60 participating countries across the globe, SOFTin Space 2023 will be a melting pot of diverse ideas and perspectives. Over 100 attending banks, 200 forward-thinking fintech companies, and more than 100 startups will actively participate in this immersive event. Additionally, the presence of 25 government regulators highlights the event’s importance as a platform for fostering constructive dialogues between industry stakeholders and regulatory bodies.
The event’s agenda is meticulously crafted to offer an enriching experience, with over 20 sessions covering a wide range of topics relevant to the ever-evolving banking and fintech sectors. From digital banking to blockchain technology, artificial intelligence to cybersecurity, sustainable finance to regulatory frameworks, attendees can expect thought-provoking discussions and actionable insights to drive innovation and growth.
To be a part of this transformative event, interested individuals and organizations are encouraged to register now at the official event website: https://softin.space. Early registration is strongly recommended, as limited spots are available for this prestigious gathering of banking and fintech leaders.
“We are thrilled to present the third edition of SOFTin Space, a remarkable event that transcends geographical boundaries and ignites collaboration within the financial industry,” said Mr. Abdelhadi Bekai, CEO of AFAK Events. “As a prestigious event organizer with extensive regional experience, AFAK Events takes pride in organizing an event that fosters innovation, facilitates connections, and propels the banking and fintech sectors forward.”
“We are thrilled to present the third edition of SOFTin Space, a remarkable event that transcends geographical boundaries and ignites collaboration within the financial industry,” said Mr. Enes Sehzade, CEO of FIMA PR LLC. “As an established PR and event agency with extensive regional experience, FIMA PR LLC takes pride in organizing an event that fosters innovation, facilitates connections, and propels the banking and fintech sectors forward.”
About AFAK Events:
AFAK Events is a prestigious event organizer based in Istanbul, Turkey. With a solid track record of hosting successful industry conferences, AFAK Events aims to create platforms that foster collaboration, inspire innovation, and drive growth across various sectors.
FIMA PR LLC is a renowned PR and event agency operating in Turkey, Africa, the Middle East and North Africa (MENA), East Asia, and South East Asia. With over 80 years of collective experience, FIMA PR LLC is recognized as one of the top agencies in the region, providing strategic communication solutions to finance and technology organizations to enhance their brand image, establish thought leadership, and achieve their business objectives.
As the gig economy continues to evolve, Uwerx emerges as a pioneering blockchain-based platform, revolutionizing the way we engage with freelance work.
In this article, we explore the unique features and advantages that set Uwerx apart. Furthermore, we delve into the potential of Conflux (CFX) and whether it can catch up to the transformative impact of Uwerx.
Conflux (CFX): Empowering Scalable and Secure Blockchain Connectivity
Conflux (CFX) is an advanced blockchain platform created to address the blockchain trilemma by utilizing a groundbreaking hybrid consensus mechanism that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS).
By harnessing the strengths of both mechanisms, Conflux (CFX) aims to achieve superior scalability, security, and decentralization. The Conflux (CFX) Network is dedicated to constructing a multi-chain ecosystem that transcends borders and protocols and facilitates seamless global connectivity for creators, communities, and markets.
Presently priced at $0.297808, with a 24-hour trading volume of $84,728,528, Conflux (CFX) has experienced a slight 0.31% decline in the past 24 hours. Currently ranked at #59 on CoinCheckup, Conflux (CFX) boasts a live market cap of $857,788,318.
By the fourth quarter of 2024, market experts anticipate that Conflux (CFX)’s price will reach $0.64. This projection is driven by the platform’s innovative consensus mechanism, the growing demand for scalable and secure blockchain solutions, and the potential for Conflux (CFX) to tap into emerging markets.
However, some investors speculate that Conflux (CFX) may face stiff competition from Uwerx, a new blockchain-based freelance platform.
Uwerx (WERX) Unleashes Financial Freedom for Freelancers
Uwerx, the groundbreaking freelancing platform, is revolutionizing the industry by charging a mere 1% transaction fee. This stark contrast to competitors like Upwork and Fiverr, with their hefty 10% and 20% fees, respectively, prioritizes freelancers’ earnings and grants them the financial freedom they deserve.
Behind the scenes, the Uwerx team is diligently preparing for the platform’s debut on centralized exchanges. They plan to renounce the contracts, ensuring transparency and independence while reducing taxes to zero. This move solidifies Uwerx as a force to be reckoned with in the freelancing industry.
With overwhelming support from its dedicated community, Uwerx is gearing up for an exciting Test Airdrop as the presale concludes on July 31st. With an impressive 98.2% community approval, Uwerx is locking its tokens for an astounding 25 years, setting a new industry standard and ensuring top-notch security.
Uwerx is making remarkable strides in the development of its Alpha platform, with exciting updates on the horizon. The recently released PDF version of the Alpha Platform provides users with a sneak peek of what’s in store. Next week, the web version will be launched, featuring the landing page, sign-in/sign-up page, and dashboard.
Additional parts of the Alpha platform, including the login Page, User Dashboard, Settings, Posting Jobs, and Finding Jobs, will be unveiled in the coming week, catering to all freelance needs. The grand finale of the unveiling is scheduled for August 4th, when Uwerx will unleash its full potential, empowering freelancers to reach new heights.
Uwerx (WERX) Presale Making Waves in the Crypto Market
Uwerx, with its unwavering commitment to trust and meticulous attention to detail, establishes itself as a secure fortress for freelancers. The platform has been audited by industry leaders like SolidProof and InterFi Network, ensuring that freelancers can focus on their craft without worrying about the safety of their digital assets.
Uwerx’s rise to prominence includes listings on CoinSniper and the highly anticipated Uniswap listing by August 1st. These strategic moves enhance accessibility and liquidity, creating a thriving ecosystem for freelancers to thrive.
Continuing its commitment to excellence, Uwerx introduces the Uwerx Vault, providing users with an exciting opportunity to stake their WERX tokens. Users can earn rewards based on platform variables, similar to the popular concept of staking, adding an engaging layer and potential benefits for the community.
The presale journey of Uwerx has been remarkable, with Stage 1 completing in just 17 days and Stage 2 in a mere 8 days. Uwerx is currently in Stage 5 of its presale, with tokens priced at $0.041 each and an attractive 15% bonus on purchases, providing investors with a special opportunity to join the project’s growth.
As the hard-cap presale end date of July 31st approaches, Uwerx prepares to reshape the freelancing landscape.
Uwerx (WERX): Bright Future and Lucrative Investment Opportunity
The future looks promising for Uwerx, and experts predict a positive trajectory for the WERX tokens. By the end of 2023, it is projected that WERX tokens will sell for $0.88, and this price is expected to rise to $3.5 by Q3 2024. While Conflux (CFX) may be a good cryptocurrency, Uwerx sets itself apart with its features and presale price, positioning it as a more lucrative investment opportunity.
Click the links below to access a 20% bonus on all purchases!
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
COZ and Degenz.wtf make their foray into the film industry by launching a physical NFT collection and organizing a charity silent auction, all powered by the groundbreaking OneBand ring.
Debut at Tribeca Film Festival
COZ, a pioneering community in the blockchain industry, is excited to announce its collaboration with Degenz.wtf, a leading advisory firm, to support Alden Ehrenreich’s directorial debut, Shadow Brother Sunday, with legendary filmmaker Francis Ford Coppola as executive producer. Produced by Vanishing Angle, the short film is set to make its debut at the renowned Tribeca Film Festival on June 9, 2023.
Charity Auction
An exclusive physical NFT collection featuring original 35mm film frames carefully curated by Degenz.wtf and created by COZ will be presented at the festival. These NFTs offer collectors proof of authenticity, along with the ability to transfer them securely. Both companies will host an after-screening party in New York City, where a silent auction will be held, with all the proceeds going to the non-profit Red Eye, “chosen by their great reputation for on the ground action in helping the homeless communities,” said Jay Brand, co-founder at Degenz.wtf.
Promo Buzz
“COZ is thrilled to collaborate with Degenz.wtf in supporting Alden Ehrenreich’s directorial debut, Shadow Brother Sunday. This partnership not only represents a new horizon for COZ’s products, but also showcases the innovative potential and scalability of NFT technology,” announced Daniel Fioravante, Marketing Director at COZ.
The auction will be powered by COZ’s revolutionary OneBand ring, a secure non-fungible item cryptographically bound to an NFT. OneBand introduces a secure hardware signing architecture with diverse applications across industries such as gaming, brand activations, financial transactions, and verification. Equipped with a secure NFC chip housing a censored BIP32 master key, OneBand supports BIP44 derivations for private keys in various blockchains. This cutting-edge technology ensures the ring’s authenticity across the entire Web 3.0 market segment, offering unprecedented security for collectibles and luxury items, eliminating the risks of forgery and theft.
“We are excited to be at the forefront of this technological revolution, providing individuals with an opportunity to witness the transformative power of blockchain technology firsthand. OneBand not only enhances security and authenticity but also opens up new avenues for developers to create innovative projects,” added Tyler Adams, CEO at COZ.
Consensus 2023
COZ unveiled its latest innovation, the OneBand ring, at Consensus 2023, a prestigious blockchain and crypto-themed event in Austin, TX. This portable, low-cost, environmentally friendly, and tamper-resistant hardware signing architecture will showcase its significant technology roll-out on Neo N3.
During Consensus 2023, COZ invited attendees to experience the power of OneBand by distributing rings so attendees could engage with the nine ecosystem project pods within the Neo booth. This interactive activation allowed OneBand holders to tap-scan their rings and acquire new traits for their commemorative Texas Horned LIZARD NFTs. This demonstration highlighted the potential of bridging a cryptographically bound physical asset into the digital world.
The MainNet-based interaction at Consensus 2023 offered a unique opportunity for attendees to explore the potential of blockchain technology. Each OneBand comes bundled with a DevKit, empowering developers to create projects using this innovative technology instantly.
P.S.
COZ, with its rich history dating back to 2017, has been at the forefront of introducing the Neo blockchain to the world. The first-ever light wallet and blockchain explorer, as well as COZ’s contributions in the form of Python and JavaScript SDKs, documentation translation, community management, and workshops across the continents, made it possible for people to experience the full potential of the Neo ecosystem.
For more information about COZ and its innovative solutions, please visit https://coz.io/.
One crypto project causing a buzz in the market right now is Uwerx, a game changer for the freelancing industry. Its presale’s continued success has attracted investors and crypto users. The WERX token has remained bullish despite the crypto dip, creating an excellent profit margin for early community members.
While Arbitrum (ARB) struggles to outperform price predictions, Uwerx token holders are enjoying gains more than Dash (DASH) holders. This article provides more information on Uwerx and why you should immediately consider the presale.
Uwerx (WERX) Is Disrupting The Gig Economy
A new dawn has come for the freelancing industry, as Uwerx is set to revolutionize freelancing by bringing blockchain technology, decentralization, incentivization, protection of intellectual property rights, and a 1% flat fee.
Uwerx launched its Alpha version last week, starting with the Landing and Sign-Up pages. The other features like the Sign-In page, User Dashboard, Settings, and Finding and Posting jobs will be unveiled weekly or bi-weekly. It will also start transitioning to the Beta version so users can test the platform.
So far, Uwerx boasts of over 5,546 sign-ups, 1,627 Twitter followers, and 1,456 Telegram members. Asides from Uwerx’s unique features, its success is also credited to the agile methodology approach used by the developers. This helped them release the project in bits while hearing from users and making changes where and when necessary.
Uwerx also brought the Uwerx Vault into the picture. This feature is similar to staking as it enables token holders to store their tokens for any length of time and earn passively from there, promoting user engagement and rewards.
The rate at which Uwerx is smashing its presale is unbelievable. It is now in stage 5, and due to rising demand, the presale token allocation was increased by 57% (427,500,000), and the stage 5 allocation is 72,500,000 WERX. The total WERX supply remains at 750,000,000 tokens. Due to increased confidence, Uwerx’s launch price was raised to $0.095 – $0.115.
The WERX price is at $0.041, a quick flight from its starting price of $0.005. This translates to tons of profits for early investors and token holders, and more gains are to come as further price increment is imminent. Stage 5 comes with a 20% bonus which will be off the table with the next price increase, but referral bonuses will be introduced.
The Uwerx team has reduced their token allocation to 7% and will renounce smart contract ownership when Uwerx lists on centralized exchanges. Following an 82.8% vote from the community, they have started a 25-year liquidity locking on their token now rather than post-presale. The date and time will be made known this week.
For further proof of Uwerx’s transparency, the team will conduct a Test Airdrop to ensure users’ receiving wallet addresses are correct. This follows a 98.2% vote from token holders supporting the idea. Uwerx has undergone audit approval by InterFi Network and SolidProof.
Arbitrum (ARB) Is Struggling To Outperform Price Predictions
Arbitrum (ARB) is one of the top Layer-2 platforms providing and improving Ethereum’s (ETH) scalability. While Arbitrum (ARB) has witnessed success since its inception in 2021, the current bear market has taken a toll on it.
Arbitrum (ARB) has witnessed a sharp decline in its trading volume and market cap in the past few days. This is because its ecological project, Swaprum, recently suffered a rug pull, leading to over $3 million loss and the token’s (SAPR) price falling to zero. It was alleged that the scammers pilfered about 1,628 ETH, which they transferred to Tornado Cash.
It might take a while for Arbitrum (ARB) to recover from this scandal. Although Arbitrum (ARB) is trying to move on from this and exceed price predictions, it remains red as analysts are bearish about ARB’s value.
Dash (DASH) Is facilitating On-The-Spot Transactions
Dash (DASH) is widely known for facilitating near-instant transactions using digital cash and allowing users to move their money however they want. This concept has given Dash (DASH) its much-needed success.
However, recent mishaps have placed Dash’s (DASH) token holders at a loss. In April, Dash (DASH) announced it would conduct a mandatory upgrade for its masternodes and release the DashCore v19.0. The upgrade happened on May 22 and was unsuccessful, as the Chain stalled and could not produce blocks.
This event caused the Dash (DASH) blockchain to be down for over 18 hours. While at it, Binance temporarily suspended the distribution of DASH mining rewards until the network resumed block production. Although the Dash (DASH) team is working hard to fix this, it has affected DASH’s price.
While Arbitrum (ARB) and Dash (DASH) face their respective problems, Uwerx is selling and making profits for users. The Uwerx team is user-centered and has given its community members the freedom of expression. They can send their feedback or opinion to Uwerx’s email, feedback@uwerx.network.
You can become a community member by joining the presale. There is a 15% bonus if you join now, and you should take advantage of this as bonus reduction is underway. Therefore rush quickly before the presale ends on July 31.
To learn more about Uwerx and the presale, click the links below:
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Crypto market has shown signs of a slow recovery signaling the end of the crypto winter. Crypto prices have trended higher in 2023. With inflation cooling off, a recession looking more likely with a banking crisis in the west, investors are seeking refuge in cryptos. Dubai, has been at the forefront of the reemergence of the crypto market, and has considerably established it self as the most favored hub for the crypto and blockchain industry.
The World Token Summit, is a one-of-a-kind crypto industry focused event, showcasing the unique perspectives and vast opportunities in the blockchain and cryptocurrency ecosystem and facilitating the entire global crypto industry to congregate in Dubai. The event is hosted by Vostad and is positioned to bring together founders, emerging crypto exchanges, crypto projects, blockchain enthusiasts, investors, entrepreneurs and industry leaders to explore new projects and investment opportunities.
What’s happening at the World Token Summit?
This year’s event, is broadly designed to touch upon key elements of the Crypto industry as a whole and regional perspectives from a regulatory stand point. As well as the attendees will be privy to interactive and thought provoking disucssions about the emerging innovations and investment opportunities in the space.
The two-day event will focus on the following areas of importance;
Tokenization & the potential of democratizing investment opportunities
Dubai’s Emerging Crypto Industry
Navigating the Crypto Winter
Discovering Web3 opportunities in the Middle East
Investing in NFTs
Building Blockchain Ecosystems for Growth
Token Economics 2023 & beyond
The event will be held on 21-22 June 2023, in Dubai. You can apply online at www.worldtokensummit.comnow to reserve your exhibition space at this exclusive event.
Promo code: MEDIA30
About Vostad
Vostad is a leading global event, business excellence, and industry catalyst. Which is focused on building a connected ecosystem of industries, technology, and the future of our community. The company is committed to delivering curated platforms for a broad spectrum of business sectors with relevant solutions & knowledge that they aspire for.
Singapore, June 8, 2023 – Enjin, the leading blockchain ecosystem for NFTs and digital items, is proud to announce the Enjin Blockchain, a revolutionary blockchain engineered for NFTs and other digital assets at the protocol level.
Built on the open-source Substrate framework, Enjin Blockchain is set apart with its unique and dedicated design philosophy tailored towards Non-Fungible Tokens (NFTs). Unlike other solutions, Enjin Blockchain doesn’t rely on smart contracts, and instead ensures that critical functions, such as creating, using, and transferring NFTs are integrated directly into the foundational code. Thanks to this novel approach, projects are empowered to craft scalable, future-proofed digital assets with advanced capabilities, all while maintaining interoperability with other ecosystems. Engineered to meet and adapt to future market requirements, Enjin Blockchain’s architecture balances cost-efficiency and scalability without compromising security
Enjin Blockchain’s innovative features, such as Fuel Tanks, allow developers to subsidize the cost of transaction fees, making those costs invisible to the end-user. Moreover, Discrete Accounts allow users to immediately interact with a project using Enjin Blockchain without the need to download dedicated wallet software, further simplifying the user experience. With support from the longstanding Enjin application layer, integration of Enjin Blockchain is accessible to developers and creators of all sizes through intuitive and easy-to-use tooling.
A testament to the thriving Enjin community, as one of the world’s first NFT gaming ecosystems, Enjin Blockchain represents a significant milestone in the journey towards mainstream adoption by providing a user-friendly and cost-effective solution that empowers creators, enterprises, and individuals to leverage the full potential of digital assets and NFTs.
The whitepaper detailing the vision and architecture of the Enjin Blockchain can be accessed here.
As part of this transition, Enjin Coin (ENJ) is proposed to migrate from the Ethereum network to become the native token of the Enjin Blockchain’s Mainnet on a 1:1 basis. This strategic migration allows the Enjin Coin community to leverage the cutting-edge capabilities of Enjin Blockchain.
Furthermore, Efinity Token is proposed to be merged with Enjin Coin, uniting the EFI and ENJ communities through a fair and transparent process, reflecting the communities commitment to decentralized governance and participation.
The proposed governance and token-related documentation will be released shortly.
In a significant development, Efinity, the Polkadot parachain, has been successfully forked to the Enjin Blockchain, operating as the “Efinity Matrixchain” pending ratification through a referendum. The Efinity Matrixchain is already operational, allowing a seamless transition for existing Efinity users. All blockchain data from Polkadot Efinity, including balances, states, NFT & collection balances, and addresses, has been securely inherited by the Efinity Matrixchain on the Enjin Blockchain, ensuring the continuity and integrity of user data.
Looking ahead, we are thrilled to announce the future deployment of the Enjin Matrixchain as the flagship Matrixchain on the Enjin Blockchain. Inheriting all data from Efinity through the same secure process, this upcoming Matrixchain will utilize ENJ as the native currency and will be the primary platform for end users when creating NFTs and digital items. The Enjin Matrixchain represents the spiritual and technical successor to Efinity, embodying Enjin’s commitment to innovation, user-centric design, and mass adoption.
Furthermore, the future deployment of additional Matrixchains is expected, primarily tailored to meet the specific needs of enterprise and large communities. These Matrixchains will offer a tailored Web3 environment that addresses the unique requirements of various applications and use cases, expanding the possibilities of digital ownership and interaction.
We are pleased to announce that existing key Enjin community projects will utilize the Enjin Blockchain, strengthening the integration and adoption of the Enjin ecosystem. All Enjin community projects are invited to onboard on the Enjin Blockchain.
The Enjin App Layer has been an essential tool in driving low-cost NFT integration since 2018, and it can be easily integrated even by indie game developers without expensive blockchain development resources. The app layer consists of:
Enjin Beam, a QR code-based NFT distribution system
Enjin Platform (API and SDK middleware for NFT integration)
Developers have adapted these components for Enjin Blockchain and are now available for use for everyone in the community.
Finally, we want to note that the Enjin Blockchain and the upcoming Enjin Matrixchain will be secured by Substrate’s robust Proof-of-Stake system, powered by Enjin Coin (ENJ). This consensus mechanism ensures the highest levels of security, reliability, and sustainability, enabling the community to engage with confidence.
The Enjin ecosystem traces its roots to the users of Enjin, a Singapore-based software company founded in 2009 by Maxim Blagov and Witek Radomski. Enjin developed a gaming content management system that attracted over 21 million users and over 500,000 gaming community websites. Enjin also hosted some of the largest Minecraft servers during the game’s frenzy era. Radomski later became a self-taught blockchain developer and authored the widespread ERC-1155 standard for NFTs, which addressed limitations in the ERC-20 and ERC-721 standards.
The Enjin community remains at the forefront of blockchain innovation, empowering individuals, developers, and enterprises to revolutionize the digital items landscape. Join the Enjin ecosystem on this remarkable journey as it shapes the future of digital ownership, NFTs, and blockchain technology.
For more information about the Enjin Blockchain and how it’s set to pioneer the future of NFTs and digital items, please refer to the Enjin Blockchain whitepaper.
For media inquiries and further information, please contact:
Enjin is the leading blockchain ecosystem for NFTs and digital items, empowering individuals, developers, and enterprises to participate in the digital ownership revolution. With a focus on cutting-edge technology and user-friendly solutions, Enjin aims to reshape the future of digital assets and provide unprecedented opportunities for creators, collectors, and enthusiasts worldwide.
