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July 14, 2022

Enjin Attends Polkadot Decoded 2022

Enjin Attends Polkadot Decoded 2022
Enjin attends the biggest event of the year: Polkadot Decoded, 2022 and here’s what happened.

Last week, Polkadot and Parity Technologies held one of the biggest conferences of the year, decentralized in four separate locations; Hangzhou, Berlin, Buenos Aires and New York. 100+ talks were given, demos were conducted and many community-led events were attended.

The Enjin team flew in to Berlin from Singapore (Oscar Franklin Tan), Australia (Jeremy Ray) and the UK (Esther Jade Partland) to join Polkadot and many other projects and parachain winners to connect, talk and share what we’re doing at Enjin and why Efinity is the next big cross-chain NFT blockchain.

Welcome to Polkadot Decoded 2022! Let’s Dive in!

Across the globe, many industry professionals, CTOs, developers and enthusiasts all swarmed in at Berlin in the Wilhelm Hallen conference center to learn more about Polkadot and the industry-leading parachains.

With over 300+ attendees, ranging from curious polkadot enthusiasts to experienced solidity developers, the atmosphere was incredible and unlike anything we’ve seen before in a web3 event.

With the world opening up and several dev teams having spent the last few seasons building in hibernation, it was high time for all the parachains (and more) to meet face-to-face and start connecting the spokes of the grand wheel of Polkadot’s Layer Zero.

Various talks from industry experts enlightened us with what they’re contributing, showing off their tech and inviting others to collaborate. We saw Pierre from Parity Technologies talk about browser-embedded light clients and how they’re bringing Polkadot to everyone. These light clients aim to be transparent and quick to the user, bypassing intermediaries.

Over on the junior stage, we saw Sergei from Robonomics.network talk about everyday Kusama use cases for your home and how you can connect a smart meter to offset CO2 emissions.

Over at the Kilt Protocol talk, we saw Ingo announce the power and utility of AssetDID’s: Kilt’s Decentralized Identifier that uniquely identifies a user. A single DID can hold up to multiple addresses, such as Polkadot, Ethereum, Moonbeam and more.

During Polkadot Decoded, there were over 20+ talks from industry experts, including the Web3 foundation, Acala, Manta Network, Subquery, Astar and more. We can’t count them all, but there was a lot and all talks created a buzz in the room that made us feel something — like we were a part of something.

The opening talk illuminated the fact that Polkadot is one the leading developer platforms out there, and one that is only going to grow from here. Polkadot’s parachains are only eight months old, and yet we’ve seen that Polkadot Decoded was the main web 3.0 event to attend.

Learning about Polkadot can be difficult for the average user, and we’ve all been there.

Let’s go over some simple terms:

  • Parachains are user-created parallel chains Polkadot. An example of this would be Efinity. Additional parachains exist on Polkadot such as Acala, Manta, Astar and more.
  • The Relay Chain is Polkadot’s main Blockchain, and shares the same features as parachains (security, scalability, interoperability and governance).
  • Collators are what maintains the Parachain. The collators maintain the node of the parachain, retaining information from the parachain and producing new block candidates.

Polkadot is not only growing fast, but it’s creating a central hub for all developers to join and create their own metaverses. Polkadot offers features such as connecting different blockchains together - not just focusing on one blockchain, but allowing for many others to work simultaneously. This is what an interoperable world looks like.

Polkadot also prioritizes security with the power of having two accounts (a stash account, and a controller account). Your stash account being the primary account for storing tokens, and the controller account where you perform any activity happening on Polkadot, such as staking and/or governance.

Last, but certainly not least, is the scalability and on-chain governance that Polkadot offers. Unlike any other blockchain platform out there, Polkadot’s scalability comes in with the use and power of parachains (those user-created parallel chains). Thus, congestion on the network is never a problem.

As more and more people join to support Polkadot parachains, DOT (Polkadot) holders can propose changes, new features, referenda and more to the network via voting and proposals. This is true power of governance.

Polkadot ensures that you’re in charge, no one else, and this is why the possibility of a decentralized world is ever so close.

The main arena stayed packed the whole time.

The big question is, how are we going to make web3 and the Metaverse accessible to everyone? What is the answer to the Metaverse…?

Before we jump right into that question, we want you to go back in time a bit… jumps into another time (think of Marty McFly and Doc in the Delorean DMC-12). There was a time where parachains on Polkadot were becoming everyone’s new favourite toy and during that time, each project fought to get their hands on the magical parachain slot.

We saw Acala, Moonbeam, Astar, Parallel Finance and Clover win the first 5 slots. Then, on the 31st of December 2021, Efinity wins the 6th parachain slot!

And this is how the story starts…

So, the Metaverse is… well, we don’t know (yet)

Oscar, Chief Financial Officer & Chief Legal Officer at Enjin, carried out a thought-provoking and captivating talk about The Open, Decentralized Metaverse as Crossroads of Polkadot Interoperability, and we asked the audience, what is the Metaverse?

As you’d know if you watched the conga line of corporations announcing their own versions of it, everyone has their own definition for the word.

Watch here for the full talk by Oscar at Polkadot Decoded, 2022:

The key to the Metaverse is not flying cars or robots taking over the world. It’s digital ownership of your personal identity.

The Metaverse gives you the ability to truly own your digital assets whether that’s in games, in a sandbox environment, on an app or in a virtual world.

Oscar Franklin Tan talked about digital ownership and NFTs.

It’s the decentralized web, also very known as web 3.0. We live in a web 2.0 world, where we can read and write content. However, web 3.0 is the next big thing and the Metaverse loves it ❤️.

“It’s in Meta’s sincere commercial self-interest to keep the metaverse open and decentralized. Because if not, users won’t use it.”
- Nick Clegg, President of Global Affairs, Meta

We understand that web 3.0 is a digital world entirely governed and owned by users. It’s controlled by you. Not the banks, governments, no intermediaries are involved — this is a new revolution for the digital era.

It removes the many layers that web 2.0 has, and cuts out all centralized institutions. We live in a world where our data and private information is the most crucial thing that matters to major corporations — your data is given back to you and advertisements no longer become the main and core factor supporting the web.

Web 3.0 is here alongside the Metaverse, both working together to create a better world for everyone.

Digital Ownership unlocks:

  • Trust amongst users;
  • Governance Models;
  • Economic Models and;
  • Data Security.

Here are a few reasons why we’re building Efinity on Polkadot:

  • Interoperability
  • Shared security
  • Vibrant ecosystem of developers
  • Eco friendly

It’s no wonder Efinity works so well with Polkadot.

Efinity, being one of the world’s first NFT chain on Polkadot, is bringing NFTs to the masses with the whole Enjin Ecosystem. We want to make NFTs available to everyone, from all different backgrounds no matter where you are.

From the creators of the ERC-1155 smart contract, we’re the pioneers of the NFT space.

So, What’s Next?

At Polkadot Decoded, we’ve had insightful conversations from various parachain projects and Kusama projects, and we’re very much excited to collaborate, work and build together in this ecosystem.

Projects such as Kilt Protocol and OriginTrail are some of the few that we’ve fostered a great relationship with. We’re excited to see where our ideas for collaboration go and how we can all work to bring NFTs and blockchain gaming to the masses.

At Enjin, we never stop growing or building. Our engineering team are all hands on deck in producing the best and most robust blockchain products out there.

Efinity is around the corner and we’ll be onboarding our game developers and early adopters to utilize Efinity as the next highway for all NFTs.

We’ve also concluded our first Enjin Wallet 2.0 beta testing of the new Enjin Wallet app with over 2,000 members participating. Next up: JumpNet support and lots of more features.

For more information and to stay up to date on all things product-related, follow us on Twitter. We don’t bite.

That’s a wrap! We thank everyone who supported the Efinity crowdloan and we thank everyone who tuned in to Oscar’s talk. A huge thank you to Parity for a superb organization of the event(s) — we look forward to the next event, see you there!

And remember, it will all be really great. IWABRG

Join our Telegram channel here, follow us on Twitter and Instagram.

Want to learn more about Efinity? Check out our whitepaper here!

Enjin Attends Polkadot Decoded 2022
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