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695.00IDR
+0.14%
$0.04413250฿0.00000065Volume(24H)$43,916.69
Today
Low:0.04263730
High:0.05326480
Yesterday
Low:691.00
High:848.00

Market information

Market Cap $3,835,527.14
Global Volume(24H)$39,030.52
All-Time Low$0.03341140
All-Time High$3.1601
Initial Price$1.0001
ROI
-95.5872%
Circulating Supply 86,915,139 EFI
Circulation Percentage 4.3458%
Max Supply 2,000,000,000 EFI
Total Supply 2,000,000,000 EFI

Price history

Information

Converter

EFI

Project Introduction

Efinity is a global cross-chain NFT blockchain. Powered by deflationary EFI tokens, the network is environmentally friendly, scalable and built for games, apps, businesses and creators to offer mainstream audiences their own irreplaceable tokens.

Project Vision

Efinity is an environmentally friendly, scalable product designed to build a future where NFT is as ubiquitous and easy to use as today's smartphones. Designed for game, app, enterprise and individual creators, it delivers NFT to a mainstream audience.

Market Demand

NFT breaks the traditional definition of product value in the market. At present, more and more artworks have been exposed to NFT. The rise of NFT market not only provides opportunities for artists to expand new markets; For crypto enthusiasts, meanwhile, they are looking to the new world of digital collectibles and NFT for a new wealth effect. But a major barrier to adopting NFT is Etheruem's high fees and lengthy transaction times. Users must own ETH and be tech-savvy enough to set up an Ethereum-funded MetaMask wallet to buy NFT, which can cost as much as $100, depending on blockchain congestion. All of these barriers to entry make it difficult for the average consumer to purchase and use NFT.

Solution

Enjin Coin was founded in 2017 by Enjin, a software company that previously focused on making blockchain plug-ins for the computer game Minecraft as a means of supporting NFT with physical assets, providing them with a bottom line of value. They also developed the ERC-1155 token standard, which allows developers to generate fungible and non-fungible tokens in the same contract, reducing gas costs and increasing developer flexibility. Designed by Enjin, Efinity is a cross-chain NFT Blockchain that enables ecosystem interoperability, a reward for those who participate with NFTs's and consistent user experience. By working with Boca, we will be able to provide an accessible, scalable solution that will enable everyone to participate in the emerging NFT.

Project Implementation Mechanism

(1) Efinity Polkadot cooperated with WEB3 Foundation for the design of Enjin. Efinity Blockchain is parachain based on boca relay chain validation consensus algorithm, allowing Efinity to have its own economic framework, data and state. (2) Transactions are processed by the integrator node of Efinity parallel chain, and the network distributes EFIS to stakeholders. Security, on the other hand, is handled by Polkadot's relate-chain validator, which means Efinity users do not have to pay for authentication. (3) Efinity blockchain will act as a parallel chain in the Boca ecosystem. This means that, thanks to Polkadot's interconnect technology, Efinity will be one of a hundred blockchains that can communicate with each other, allowing other parallel chain developers to incorporate Efinity NFT into their ecosystem while knowing that they will also work in other blockchains. (4) Enjin is also working on a Paratoken that will rival the ERC-1155 token they developed for Ethereum. In fact, EFI will be the first Paratoken. With a confirmation period of six seconds, Efinity Blockchain will be able to process approximately 700 transactions per second. (5) Efinity will serve as the central point for all fungible and non-fungible tokens. Tokens from any other chain, such as the well-known ERC-721, ERC-1155, and ERC-20 standards, are accepted by the Paratoken standard. Because it will generate network effects by attracting more and more transactions, a network that overcomes NFT pricing and switching issues will inevitably gain traction.

Token Usage Scenarios

EFI is Efinity Network's token designed for transaction fees, liquidity and rewards. Each EFI holder can help guide the future of the Efinity network by submitting and voting on governance proposals directly in the wallet. The maximum supply of EFI is 2 billion. The specific usage scenarios are as follows: 1. Gas payment for network transaction, 2.5% of the cost will be deducted for completed orders. Gas fee revenue goes into the NFT Transaction reward Pool, node reward Pool, community capital pool, Gas compensation Pool, and is used to reward traders, bridge and smart contract developers. 2. Participate in on-chain voting governance, and participate in voting and have the opportunity to obtain EFI incentive compensation. 3. When bidding for NFT, EFI tokens need to be mortgaged; 4. The developer can set transaction fees on his own platform, and the artist can also get part of the transfer fees in the subsequent transaction of the encryption artist's works; 5. EFI payment or collateral EFI is required to open an account on the chain; 6. EFI can be mortgaged to Fuel Tank (Gas compensation pool) to obtain Gas discount; 7. Hold EFI within Enjin's JumpNet and increase the trading limit. JumpNet is a gas-free NFT trading network developed by Enjin;

Incentive Mechanism

Efinity compensates network participants with EFI tokens: 1. Collector nodes running the network. 2. Manage network users. 3. Promote price discovery for buyers and sellers. 4. Developers proposing Efinity based projects are eligible for community pool funding. 5. Early adopters and creators increase the value of their tokens by binding curves and liquidity.

Characteristic

Low fees: Transaction fees on Efinity are designed to stay in the background and allow users to experience their favorite collectibles without worrying about how the network works; 2. Transfers: Paratoken transfers can be simple or complex, including the ability to include multiple senders and recipients. To execute a transaction, two or more accounts can sign a transfer transaction; 3. Transaction fee Delegation: The transaction can include a fee payer's signature, which allows others to sign liability for the fee prior to broadcast. This is great for companies and creators who want to subsidize users' transaction costs; Crafting allows you to modify existing tokens, or create new ones using Recipe. Recipes are signed messages that are generated entirely out of the chain. Anyone with a copy of the recipe can execute it on Efinity. This system can be used to gamify collectibles with minimal effort. Exchanging multiple "normal" tokens for rare tokens is easy to implement and may allow for some simple game mechanics. Recipes may require ownership of certain tokens and can be encoded to perform multiple operations: casting, burning, melting, or transferring. Recipe creators may limit the number of times a recipe can be used, or even simply blacklist a recipe ID.

Project Highlights

1. Every NFT has a network: Efinity is built on Polkadot, allowing any NFT in any chain to be moved to the network and supercharged with next generation features, low costs, and fast transaction times. 2. Reward everyone: Efinity rewards network participants, not miners. Everyone from NFT creators and traders to developers and early adopters will be rewarded with EFI tokens to drive Efinity's growth and development. 3. The design is designed to be simple: Efinity's fees are kept in the background. End users don't even need a blockchain wallet. Transactions can be confirmed within six seconds.

Technical Characteristics

1. Gas tank: The tank is a separate account and is only used to pay transaction costs. By placing EFI tokens in the fuel tanks they control, developers can subsidize the cost to consumers. Specific tokens, tags, transaction types, or individuals can be whitelisted for fuel tank use. In any transaction, the ID of the tank can be provided. Transaction costs will be paid if the criteria of the selected tank are met; 2. Multiple transactions: Multiple signatures allow multiple transfers, transactions, minting and crafting when multiple wallets or tokens are involved in a transaction; 3. Unlimited Swap: Efinity Swap is an automatic conversion function that further facilitates the exchange of Paratokens by allowing Paratokens to automatically convert to other Paratokens without friction, in order to complete existing buy and sell orders involving other Paratokens. Existing buy and sell orders are used to facilitate these swaps.

Investment Opportunity

Businesses and corporations of all sizes, including leading global brands such as Microsoft and Binance, are using Enjin's NFT ecosystem to attract and expand their audiences. More than 50 game and application developers are using Enjin to create and integrate NFT in innovative ways, from open world RPGS to augmented reality and sci-fi fantasy adventures. These numbers are provided by the Efinity team itself, when there are tests at this level. Then we can expect a very good product. Beyond that, we can expect companies that already use the Enjin platform to also use Efinity. The companies we're talking about are Samsung and BMW. If this happens, Efinity will move to the moon and dance like Enjin. In terms of circulation supply, it has a lot of room to grow and we can expect around 4-8x profit after release. For those who want to invest for the long term, they can expect 10-20 times over the next 2-3 years. But investment is risky, so be careful.

Values

1. Team: Finity is developed by Enjin team. From the perspective of investment, serial entrepreneurs, especially experienced serial entrepreneurs, have a higher probability of success. In addition, Enjin team has a good relationship with Binan. Binan once issued NFT in Enjin chain. 2. The development of NFT in Boca Ecology. So far, Efinity is definitely the best NFT project in Boca ecology, and Boca is focusing on developing the NFT concept. Trading is mining. Efinity's incentives for early-stage NFT traders, similar to transaction mining, actually subsidize early-stage flow. This is important for NFT platforms. 4. Prospect of NFT. The concept of NFT is still in the air, and adoption of NFT is growing at an increasing rate. NFT can value the consensus of digital art, and it is advancing at an irresistible pace. In the future, the rise of digital assets will provide more opportunities for collectibles and commercialization, driving further growth. As the NFT space matures and blockchain technology advances, Efinity will build the most powerful NFT ecosystem in the blockchain space, bringing unprecedented user experience to NFT. The fact that Efinity will be at the forefront of the booming field in the coming years is bound to have a good impact on the tokens on its platform, whose usefulness will continue to grow. This is one of the reasons why Efinity is worth looking forward to in the future.

Market Commentary

1. Efinity is fast and processes much more data per second than Ethereum, which will drive the market in the future. EFI and ENJ are produced by the same company. When ENJ's NFT is migrated to EFI, it can not only automatically change, but also get rewards, which is a reward for ENJ's old users. 2. Efinity has been focusing on NFT as a parallel chain of Polkadot, where most of the cost is spent on network governance and rewards for participants. In the future, this will be a token for the new ecosystem, and sources say it could become the core of all transactions deployed on the network, which is likely to explode in the future. 3. Efinity is NFT's flagship project.

Pairs

RankSourcePairPrice24hVolume(24H)Trading PercentUpdated
1Indodax1IndodaxEFI/IDR
695.00
0.14%$43,916.6952.9453%2024-11-04 20:55:20

Trading platform transaction information

Trading Percent

All Exchange
ExchangeVolume(24H)Trading Percent
IndodaxIndodax$43,916.69100.0000%Visit