Enjin Coin & Blockchain Glossary

Scroll down or use the search bar to get a basic overview of the many different terms often used in the world of cryptocurrencies.

Enjin Coin

ENJ
Enjin Coin, the token used throughout enjincoin.com’s tokenization platform.

1155
All collectibles in your Enjin wallet are ERC-1155 tokens built on Ethereum. This token standard was invented by Enjin and is the most advanced standard for creating crypto collectibles to date.

Melting
Melting an item is equal to destroying it. There’s no server with a backup of your item if you accidentally melt it.

Minting
The process of creating new tokens.
Example.

MFT / Multiverse Founder’s Token
Just like the ordinary Founder’s Token but issued by games where some of the items are usable in the Multiverse.

The Multiverse
A platform for shared items across multible games on Enjin Coin’s platform. Learn more.

Blockchain

Public Key / Address / Addy
Your public key is your “bank account number” in the crypto world — your wallet. They are just a unique string of numbers and letters:

0xFEbf0995A26e6faC57C36E2FD63c23Cc251c0d7A

Anyone with your address can send you cryptocurrency as long as the blockchain they’re using is the same, e.g. you can’t send Bitcoin to an Ethereum wallet.

Private key
This is the access key to your wallet and looks a bit like the public key, but it’s typically longer. Anyone with this key can access your wallet, so don’t share it with anyone! However, most wallets allow you to encrypt this key with a normal password to log in with.

FT / Fungible Token
A token that be exchanged for any other token with the same value. 1 ETH can be exchanged for another ETH, with no difference to the user.
It is also divisible; you can send 0.0001 ETH Examples.

NFT / Non-Fungible Token
Unlike NFTs, these are collectibles or other assets that are unique. They are not divisible; you can’t send half a collectible.
Examples.

FT / Founder’s Token
Typically minted by new projects in very low quantities, these tokens are often sought after as they reward the holders with continuous airdrops.

ERC-20 / 223 / 720 / 721 / 777 / 820 / 1155, etc.
Any token built on Ethereum, like ENJ.
Each number after “ERC-” represents a different standard with slightly different features.

Tokenization
The act of taking something non-fungible (like pieces of paper) and making them fungible on a blockchain (giving those pieces of paper its own identity/serial number)

Airdrop

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