Monday, January 20, 2020

Samsung Partners Enjin Coin, Price Surges After Announcement

Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.

After the successful launch of Samsung’s newest product called Galaxy S10, their crypto company partner seemed to share the same level of success.

According to the report of Coindesk, an impressive 70 percent surge went immediately to gaming crypto coin called Enjin Coin (ENJ) after the sudden announcement of the partnership between its mother company Enjin and the technology giant Samsung.

Samsung Introduces Galaxy S10 With Blockchain Tech

In late February, Samsung introduced its newest product called Galaxy S10 that has an interesting system inside it. The said gadget has an installed Blockchain Keystore feature which allows the user to house private keys into making their crypto assets.

Due to this wonderful announcement of Samsung, the media went ballistic as to who will be the main blockchain partner off the phone that was predicted to earn 45 million buyers in 2019.

Enjin Group Admitted The Speculations

After a couple of days, the speculation arises with the name of their crypto partner as Samsung uploaded an image of the phone featuring the logo of the Enjin group.

Due to this, Singapore-based Enjin were caught in the interviews and admitted the speculation that it was true and they will handle the said blockchain feature in Samsung’s Galaxy S10. However, no further details were given by the group since the talks between the two companies were still ongoing, as per Enjin.

“The engine is an easy to use, easy-to-implement SDK. We are constantly on the move to provide technology that allows both block-chain developers and users to benefit more,” says Maxim Blagov, Chief Executive Officer of the Enjin Group.

The Success Within

Now, fast forward today, the company seemed to be enjoying the fame that the announcement brought to them as Enjin’s shares were highly demanded by investors, reaching a 206 percent surge before closing it with 116 percent rise the next day.

Aside from this superb increase on their investor shares, Enjin also boasted their more than 40 blockchain partnerships over time– which made an impact because of the announcement.

Great For ENJ, How About Other Cryptos?

ENJ coin found its powerful partner in the persona of Samsung; however, the current status of famous cryptocurrencies all over the world seemed to went the other way.

Still, now that one of the biggest gadget company acknowledges the importance of blockchain in their product, we can hope to receive an even more successful industry soon.

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