Injective Launches inEVM Layer 2 Solution on Mainnet
Decentralized protocol Injective has recently announced the launch of its inEVM layer 2 accumulative solution on the mainnet. This is a significant development that brings together the Ethereum Virtual Machine (EVM) and Injective, enabling true composability across both platforms.
“Injective’s inEVM enables Ethereum developers to build applications that can uniquely leverage Injective’s blazing fast speeds and near zero fees while simultaneously achieving composability across the WASM and EVM world.”
Injective team
The release of inEVM on the mainnet follows the successful launch of the inEVM testnet last September, which was done in partnership with Caldera. This solution allows Ethereum developers to deploy their applications on Injective without having to make any changes to their existing code.
Injective’s unique combination of features sets it apart from other blockchain platforms:
- Cosmos compatibility: Injective is the only layer 1 blockchain that seamlessly integrates with Cosmos, allowing for enhanced interoperability.
- Solana-like speed: By leveraging layer 2 technology, Injective achieves blazing fast transaction speeds similar to Solana.
- Ethereum developer access: With inEVM, Ethereum developers can tap into Injective’s capabilities while still using familiar tools and languages.
The launch of inEVM on the mainnet has already had a positive impact on INJ, Injective’s native token. Following the announcement, INJ experienced a 17% increase in value. As of now, it is trading at $43.40 with a market capitalization of $4 billion.
Injective has been taking steps towards further decentralization and network security. In January, the protocol announced plans to stake 50% of the total INJ token supply. This move is seen as a crucial step in distributing governance power and ensuring the long-term sustainability of the network. Additionally, Injective recently introduced a major mainnet update called Volan.
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