Injective, a decentralized protocol, recently announced the launch of its inEVM layer 2 accumulative solution on the mainnet. This development marks a significant milestone for the platform, offering Ethereum developers a new way to enhance their dApps.

What is inEVM?

Injective’s inEVM is the first Ethereum Virtual Machine capable of achieving true composability across Injective and Ethereum. This innovative solution allows developers to build applications that leverage fast speeds and low fees while maintaining compatibility with both WASM and EVM.

“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

Last September, Injective launched the inEVM testnet in collaboration with Caldera, providing developers with a seamless way to deploy their applications on Injective without the need to modify their existing code. This integration sets Injective apart as the only layer 1 blockchain that combines Cosmos compatibility with the speed of Solana and the developer access of Ethereum.

Market Impact

Following the mainnet launch, the price of INJ, Injective’s native token, surged by 17%. As of the latest data, the token is trading at $43.40, with a market capitalization of $4 billion. This uptrend reflects the market’s positive response to Injective’s latest initiative.

Future Developments

In January, Injective announced plans to stake 50% of the total INJ token supply, a move aimed at decentralizing the network. This strategic decision came on the heels of the Volan mainnet update, signaling Injective’s commitment to continuous improvement and innovation.

As the cryptocurrency landscape evolves, projects like Injective are paving the way for new opportunities and advancements in decentralized finance. Stay tuned for more updates and news on Global Crypto News.

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