Injective Launches inEVM on Mainnet, Opening New Possibilities for Developers and Interoperability
Injective, a Layer 2 (L2) protocol, has achieved a significant milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, offering new opportunities for developers and blockchain interoperability.
inEVM for Ethereum, Cosmos, and Solana
InEVM allows developers to build applications using the Ethereum programming language Solidity within Injectiveโs platform. It connects different blockchain networks by achieving composability across Cosmos and Solana. InEVM utilizes Caldera as the rollup provider, Hyperlane as the messaging layer, LayerZero for data and asset transfer, Celestia as the Data Availability (DA) layer, and Pyth as the Oracle provider. These collaborations ensure a secure and robust environment for developers to deploy their projects.
By incorporating inEVM, Injective enables Ethereum developers to onboard onto its platform while maintaining compatibility with the broader blockchain space. Developers can take advantage of Injectiveโs transaction speeds, near-zero fees, and access to the Inter-Blockchain Communication (IBC) network. InEVM also serves as a sandbox for developers to familiarize themselves with the broader Injective ecosystem, bridging Ethereumโs EVM world and Injectiveโs WebAssembly (WASM) backbone.
TimeSwap and Thetanauts Adopt inEVM on Injective Platform
Injectiveโs inEVM integrates with Caldera, Hyperlane, LayerZero, Celestia, and Pyth to ensure compatibility with existing smart contract standards, infrastructure, and oracles. This integration facilitates interoperability and collaboration across virtual machine environments, creating a unified blockchain ecosystem. Developers can create synergies and leverage the strengths of Ethereum, Cosmos, and Solana while maintaining true composability and interoperability.
Several projects have already adopted inEVM and deployed on the Injective platform. Notably, TimeSwap, a lending protocol, has raised over $200 million from investors and chosen to build on inEVM. Thetanauts, an on-chain options protocol, has also selected inEVM for its development.
INJ Token Sees Uptick in Price
Following the announcement of Injectiveโs inEVM launch, the native token INJ has experienced a notable uptick in price. INJ is currently trading at $43.20, up over 13% from its previous price. The token has seen significant growth, with a surge of over 1240% year-to-date, 37% in the past 30 days, and 23% in the past fourteen days. This upward trend led to the token reaching its all-time high (ATH) of $46 on March 2nd.
The launch of inEVM opens up new possibilities for developers within the Injective ecosystem. By integrating Ethereumโs EVM environment and leveraging partnerships with Cosmos and Solana, Injective aims to foster interoperability and collaboration across different blockchain networks.
Hot Take: Injectiveโs inEVM Launch Boosts Developer Opportunities and Token Performance ๐
The recent launch of Injectiveโs inEVM Layer 2 rollup solution on the mainnet signifies a major milestone for the protocol. By introducing an Ethereum Virtual Machine (EVM) environment to its ecosystem, Injective offers developers exciting new prospects and enhances blockchain interoperability.
The integration with Ethereum, Cosmos, and Solana creates a multi-chain ecosystem that combines the strengths of different virtual machine environments. Developers can build applications using the familiar Ethereum programming language Solidity within Injectiveโs platform, while also benefiting from the protocolโs transaction speeds, near-zero fees, and access to the Inter-Blockchain Communication (IBC) network.
Injectiveโs inEVM serves as a sandbox for developers to explore and engage with the broader Injective ecosystem, bridging Ethereumโs EVM world with Injectiveโs WebAssembly (WASM) backbone. This integration provides a secure and robust environment for developers to deploy their projects.
The adoption of inEVM by projects like TimeSwap and Thetanauts further demonstrates its potential and appeal. TimeSwap, a lending protocol, has raised significant funding and chosen to build on Injectiveโs platform. Thetanauts, an on-chain options protocol, has also selected inEVM for its development. These partnerships showcase the growing interest and confidence in Injectiveโs technology.
Additionally, the launch of inEVM has positively impacted Injectiveโs native token INJ. The token has experienced significant price growth, reaching an all-time high (ATH) of $46 after the announcement. This surge reflects market excitement surrounding Injectiveโs new developments and showcases investor confidence in the protocol.
Overall, Injectiveโs inEVM launch expands opportunities for developers and strengthens interoperability within the blockchain space. With its unique combination of virtual machine environments and partnerships with major blockchain networks, Injective is well-positioned to drive innovation and collaboration in the decentralized ecosystem.
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