engine coin has been showing significant movement lately do you want to know more about this coin and its potential you have come to the right place hey everyone this is mason from attain highly the channel where you will achieve greatly in today's video we will take a look at the engine coin we shall discuss what it is along with analysis and price prediction be sure to like and subscribe so you won't miss out on your success done let's get started the engine platform is a comprehensive ecosystem of products designed to enable the creation distribution storage trade and even integration of tokenized digital assets fundamentally focused on both gaming and enterprise use cases engine adopters are using the platform to create enj backed digital assets and using them in creative ways everything from art nfts which is non-fungible tokens to digital vouchers to items that can be used across multiple different video games one famous engine adopter is even using the platform to tokenize commercial real estate the cryptocurrency itself was created on the ethereum blockchain and came to life through an ico that raised around 18.9 million dollars in late 2017.
However its concept dates back to 2009 when its gaming community platform was launched engine's community management tools helped over 20 million minecraft users to stay connected and form strong networks of like-minded players taking this user-first approach and applying it to the field of blockchain they set about creating the ultimate all-in-one tokenization platform the engine cryptocurrency project was created as a complete ecosystem that offers its adopters a powerful suite of products designed to allow anyone to jump into the world of blockchain no matter their knowledge of how blockchain works according to its co-founder we take randomski engine coin is unique every token minted with the engine platform is directly backed by enj the platform's own token it truly gives in-game items real-world liquidity which then opens up the possibility for crypto powered and blockchain gaming and gamified real world platforms apart from this blagov has stated that the company is currently focused on the adoption of the new platform he believed in a future where millions of gamers use digital items backed by engine coin without even knowing it exists the token is of an erc20 type which means it depends on the ethereum blockchain to be more exact the engine platform uses a lot of valuable capacities and highlights utilizing its sdks and the open api these include one virtual items and merchandise engineers of all computer games can create a currency that is sponsored by engine token these coins will deliver similar points of interest to the blockchain yet can be altered and utilized on the stage to pay for virtual products any such token is feasible with engine smart wallets in this manner network clients can move advanced resources over stages that are spared in the registry two payment alternatives engine displays the exclusive decentralized exchange entryway it has a full scope of capabilities for clients for example solicitations discounts etc it's performed on the computer game stage with the assistance of engine widget it acknowledges all installments just a small ethereum expense is charged 3.
Smart wallet this is the focal section of the whole framework since it's paired up with the client's ethereum wallet address and permits moving virtual products through trusted mobile applications it has a cross-platform application since resources and products can be sent outside a particular gaming condition 4. effinity this channel exchange arrangement was announced in 2018 with the support for the scaling up of the engine organization it processes and executes various game channels where a large number of exchanges can be performed with nearly non-existing expenses it abandons referencing the main part of other helpful highlights for example workers games escrow accounts online stores membership choices etc engine stable use case along with the inherent efficiency of the enj token creates a great value proposition for the project as a whole since it's an erc20 token engine is compatible with ethereum wallets online wallets and hardware wallets for safe cold storage like ledger nano s trezor and arcos many tokens can store engine token as the foundation around erc20 tokens is well developed depending on their need for privacy and functionality users can choose the wallet that suits them there is an authentic engine wallet accessible which tends to be introduced on android and ios cell phones here clients can store conventional cryptographic forms of money like ethereum and bitcoin and all erc20 erc-1155 and erc721 tokens different old coins are being regularly included as well though the major use cases surround the gaming market delivering tokenization of the value of in-game assets engine is also exploring use cases in the loyalty rewards and commercial real estate sectors a partnership with bmw promotes tokenizing loyalty points that can then be used to pay for fuel road tolls and parking fees or swapped for enj another partnership with labs group is tokenizing real estate with fractionalized documents opening up a huge market for retail investors engine's compatibility with ethereum-based platforms has provided more utility allowing users to deposit enj to earn interest while others borrow their enj which is protected via ethereum smart contracts enj can also be added to other liquidity pools on decentralized exchanges to gain from further yield generating opportunities engine tokens could be mined as it uses the proof of work consensus algorithm the mining setup is almost the same as with bitcoin or other cryptocurrencies mined with an asic unit or a gpu through which it is less profitable engine coin now has a total supply of 1 billion tokens with only 820 million 130 411 tokens in circulation the current data shows that there are 65 902 engine coin holders across the globe on top of that over 10 million tokens have already been taken out of circulation and locked into erc-1155 tokens that are now being held by 127 616 collectors engine token reached an all-time high value of 72 cents on the 8th of february 2021.
The price growth was a result of network expansion and the rise in the crypto sector popularity in 2020 it started to trade at the same price range of 7 cents in january with certain changes the price dramatically dropped to four cents by mid-march as the crypto market crashed because of the covert 19 breakout later the price started to recover and go up as the market opened the trading doors the price hit 23 cents by the end of august and then plunged to 11 cents by early november further eng managed to be steady as the expansion of bitcoin's price rally at the end of november later it traded at 13 cents towards the end of the year it entered the year 2021 with a trading price of 13 cents on a bullish note the price started to rise further and was trading at 3.48 if investors focus on it more the price is expected to escalate to a new high the coin might also rise if the community concentrates on reducing the transaction fees enj was predicted to initiate the year 2020 at 11 the community was to focus more on revolving around the gaming industry the ecosystem might enhance its platform by offering versatility and seamless transparency engine coin initiated the year 2021 with the price 13 cents the token started to escalate further and hit an all-time high of 3.59 on april 9 2021.
Enj may continue to concentrate on integrations and collaborations with certain gaming websites it might introduce new offerings to trigger the problem of scaling up and it might be valued at a much higher price later by the end of 2021 the digital currency might be exchanged at as high as eight dollars and by the end of 2022 engine coins price could be 25 with certain developments and collaborations enj might rise further in the future in five years it might be considered as the top gaming crypto available in the market and might enter the top 40 cryptocurrencies list it might also attract more investors and users if it concentrates on the enhancement of its protocol and instant transaction system by the end of five years enj might be traded at sixty dollars since the crypto market is entirely unstable and unpredictable it is relatively tough to predict the price of cryptocurrencies engine is an interesting platform its approach towards gamification is unique as it focuses on giving every in-game or platform-based item a real-world value today engine works together with the beasts of the it and gaming industry for example samsung unity pc gamer and a couple of esports brands the rundown of partners is constantly increasing which permits engine to rethink the nature of the gaming experience that is all about engine if you found this video interesting do not forget to smash the like button and do subscribe if you haven't already what other coins do you want to know about let us know in the comment section see you again with another video until then goodbye