June 9, 2023 — Enjin, a leading blockchain gaming platform, has announced the launch of its new Efinity blockchain. Efinity is a Layer 2 scaling solution for the Ethereum blockchain that is designed to make NFTs more accessible and affordable.
Efinity is built on the Polkadot Substrate framework, which allows it to scale to millions of transactions per second. It also uses the Kusama network for governance and security.
Enjin says that Efinity will make it easier for developers to create and deploy NFTs, and it will also make it easier for users to buy, sell, and trade NFTs. The company is also working on several partnerships that will make it easier for users to use Efinity to purchase goods and services in the real world.
Here are some of the benefits of Efinity:
- Scalability: Efinity is designed to scale to millions of transactions per second, which will make it possible for more people to use NFTs without experiencing congestion or high fees.
- Accessibility: Efinity will be more accessible than Ethereum, as it will not require users to purchase expensive ETH gas.
- Developer-friendly: Efinity is built on the Polkadot Substrate framework, which makes it easy for developers to create and deploy NFTs.
- User-friendly: Enjin is working on a number of partnerships that will make it easier for users to use Efinity to purchase goods and services in the real world.
Here are some of the challenges that Efinity faces:
- Competition: Efinity is not the only Layer 2 scaling solution for Ethereum. Other projects, such as Polygon and Optimism, are also vying for market share.
- Adoption: Efinity is still in its early stages, and it remains to be seen whether it will be adopted by developers and users.
Overall, Efinity is a promising new blockchain that has the potential to make NFTs more accessible and affordable. However, it faces some challenges, such as competition and adoption. It will be interesting to see how Efinity performs in the coming months and years.
This information is published by the NFT News media team.
