This Low Cap NFT Is Expected To Be The Next Explosion In NFT Gaming, Says Ben Armstrong
Widely-followed crypto channel Bitboy Crypto shares with their subscribers about NFT Efinity (EFI), a newly-launched NFT gaming platform developed by Enjin on Polkadot technology.
Efnity (EFI) is designing Efinity on Polkadot in conjunction with the Web3 Foundation. The Efinity blockchain is a parachain with a consensus algorithm based on Polkadot Relay Chain validators, allowing Efinity to have its own economic framework, data, and state.
According to the analysts, transactions are handled by the Efinity parachain’s collator nodes, and the network distributes EFI to stakeholders. Security, on the other hand, is handled by Polkadot’s Relay Chain validators, which implies that Efinity users are not charged for validation.
How Is Efinity (EFI) Unique?
EFI will be, in reality, the first paratoken developed by Enjin. With a confirmation period of six seconds, the Efinity blockchain will be able to process roughly 700 transactions per second.
The crypto KOL also highlights that Efinity’s transaction costs are meant to be much smaller, allowing users to focus on their favorite items without thinking about how the network works.
Efinity (EFI) Tokenomics
EFI has a total quantity of 2,000,000,000 tokens. At the time of writing, the coin was trading at $1.42.
“With the boom of NFT’s in the crypto community, EFI holders could expect a drastic increase in their holdings; however, NFT tokens share the same volatility factor with other cryptocurrencies.”
They also point out that as traders can stake ENJ to earn EFI, it is going to result in a parallel pump up the value of ENJ.