According to the company’s announcement, the growth of NFT ecosystems has pushed Enjin to focus on multi-chain interoperability. The company’s open cross-chain solution Efinity will enable wallets, marketplaces, and exchanges to adopt multiple blockchains and allow users to create and port tokens onto multiple chains. Efinity’s launch date is yet to be revealed, but the company said it should be released by the end of the year.
However, a core piece of Enjin’s scaling tech stack is set to launch next month. Called JumpNet, the second product is a private version of the Ethereum blockchain with a Proof-of-Authority (PoA) consensus mechanism. The bridging network will enable users to lock up their Enjin Coins (ENJ) on the Ethereum network and unlock the corresponding amount of tokens on JumpNet. The permissioned blockchain will then enable users to mint NFTs using Enjin’s ERC-1155 standard without incurring the cost of Ethereum’s gas.
Enjin’s native wallet can be used to send and receive both NFTs and ENJ. All NFTs minted on the JumpNet can be traded on the NFT marketplace, the company said.
JumpNet is set to launch on 6 April. The first phase of the launch will enable users to move ENJ from Ethereum to JumpNet. Future updates will enable permanent two-way ERC-1155 and ENJ bridges between JumpNet, Ethereum, and Efinity, the company said.