JumpNet is a high-speed Proof-of-Authority (PoA) method of consensus blockchain that provides the consumer secure, instant, and gasless on-chain transactions.
The platform is governed by JENJ, a private version of Enjin backed token which operates on the JumpNet network. Users may utilize JENJ to mint NFT on the JumpNet platform.
Since its inception, the platform has received an overwhelming response in the crypto industry. Over 50 NFT jobs and Enjin partners have embraced the stage within just two weeks of launch. Many large companies such as Microsoft, Binance, Kriptomat, OKEx, BlockDown, Ludena Protocol, Lost Relics, Japanese VTubers, MyMetaverse, The Six Dragons, Beauty in the Streets, and MetaverseMe etc. have chosen the platform to connect with their customers to disperse their NFT’s.
To work with Jumpnet, users are expected to migrate their ENJ token in the Ethereum system to the Jumpnet network. The migration process will be accomplished via the Enjin wallet. Be aware that you need to pay for the gas prices to migrate the token from ENJ (Ethereum network) to JENJ (Jumpnet system ). But once you are in Jumpnet, you can enjoy the amenities supplied by the platform without paying any gas charges. As an alternative, you can carry out the same activity in reverse to convert the token back from JENJ to ENJ anytime just by paying the gasoline fee.
Currently with JumpNet users Will Have the Ability to do the following actions:
- Create Projects and their related assets.
- Mint ERC-1155 tokens.
- Send/ Receive (Single/ Multiple) NFT’S to a different Enjin wallet user via pocket address or QR codes.
- Trade NFT’s about the Enjin Marketplace.
- Automatically disperse ERC-1155 tokens from your app or game.
Read our guide on How to decode NFT’s utilizing Jumpnet, and how to record and transaction Jumpnet NFTs at Enjin Marketplace.
JENJ token works on the Jumpnet network. As we have mentioned previously, it is an Enjin-backed token that is necessary to mint NFT’s on the Jumpnet network.
You cannot buy the token from some other trades. Enjin wallet user may utilize their pocket to migrate the ENJ token to JENJ via a bridging smart contract.
A Bridge to Ethereum & Efinity
The current bridging smart contract permits the users to move their Enjin Coin (ENJ) from Ethereum to the JumpNet network.
The system is planning to launch a permanent two-way ERC-1155 and also ENJ bridges between JumpNet, Ethereum, and Efinity. When it launches, users will be able to move their existing ERC-1155 tokens onto JumpNet, and interface tokens from several networks without worrying about high gas prices.
JumpNet lets you mint NFT’s and use the platform services free of cost. However, the stage has put certain restrictions for each address on the network. Below are the constraints It Is currently imposing on its customers:
- 20 transactions per minute;
- 240 transactions per hourand
- 2,880 transactions every day.
Advantage To Efinity Token (EFI) Holders
The platform has supplied some added benefits to Efinity Token (EFI) holders. EFI holders can enjoy more trades if they hold Efinity Token on JumpNet i.e JEFI.
Currently, for every 100 JEFI tokens, the aforementioned limitation has been revised and set to double, which may further be extended up into the following value:
- 60 trades per minute;
- 3,600 transactions per hourand
- 72,000 transactions every day.
Note that each of the above-mentioned constraints are variable and might change later on.
Transferring Efinity Token (EFI) to JumpNet
Users can move their Efinity Token (EFI token) into Jumpnet by making use of the Dapp (desktop version). Enjin wallet users can check for this program in the DAPP Browser section.
Users can utilize this Dapp after connecting their wallet which includes the EFI token.
Next, they will need to define the amount of EFI they wish to transfer to Jumpnet and click the Migrate into Jumpnet button. ) When the trade is effective, the tokens will be visible in your connected Jumpnet account. They could migrate the JEFI token back to EFI anytime.
However, the token migration process (EFI into JEFI) is currently not available throughout the Enjin wallet. Th