Enjin has revealed more details about their NFT-focused blockchain, Efinity Network, which was announced earlier this month alongside their “high-speed bridge network” scaling solution, JumpNet.
Efinity Network will be built as a parachain (ie: an offshoot blockchain) on the Polkadot network.
Enjin plans Efinity Network to be a cross-chain highway for NFTs, capable of supporting any NFT from any other blockchain, with the intent to offer lower fees and move NFTs away from environmentally inefficient proof-of-work blockchains.
With a major focus on accessibility to NFTs for everybody, Efinity says that end-users won’t even need a blockchain wallet.
Enjin has also announced that Efinity’s native token, EFI, can be farmed by staking Enjin Coin (ENJ). EFI will be the first of a new token standard, Paraktoken, compatible with all of Polkadot and Kusama.