Demex Daily #6: $ENJ Enjin's Upcoming Blockchain Launch Spurs 21% Surge in ENJ Token
Top Gainer - Enjin (ENJ):
ENJ, the cryptocurrency of the Enjin platform, saw a 21% price jump within the last 24 hours, triggered by the announcement of the forthcoming launch of its Enjin Blockchain. Established in 2009, Enjin facilitates the development of virtual goods on the Ethereum blockchain, aiming to minimize fees and thwart fraud. The newly announced Enjin Blockchain is slated for release on September 13th, 2023, at 7:00 PM Singapore time. This specialized Layer 1 blockchain will focus on NFT functionalities and will seamlessly integrate with the existing Enjin services like the Enjin Wallet and NFT.io. The blockchain aims to democratize access to NFTs and will merge the Enjin and Efinity communities under a unified ENJ token. Features such as governance, staking, and managed wallets will go live at launch. Early adopters involved in validator oversight can look forward to up to 250 million ENJ in governance rewards. Migration guides for both ENJ and EFI token holders are in place, and the process is easily executed via the Enjin Wallet app. This launch is expected to expand possibilities in the NFT arena for both developers and users.
What’s Interesting Today:
Ethereum co-founder Vitalik Buterin revealed plans for future upgrades that could allow full nodes to run on mobile devices, increasing decentralization and scalability. Speaking at Korea Blockchain Week, he discussed the challenges with Ethereum's centralization, citing the need to change full nodes' hardware requirements, which currently rely on large servers. Buterin pointed to the future use of "stateless clients" and "Verkle Trees" to drastically reduce these requirements. He acknowledged that achieving statelessness poses technical problems and might take up to 20 years to implement fully. Buterin also addressed other issues like the centralization of staked ETH and the need for better documentation to further decentralize the network.
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