Layer-1 interoperability blockchain Injective has launched a solution to connect its Cosmos-based application ecosystem to Ethereum.
Called inEVM, Injective’s solution allows Ethereum developers to deploy their decentralized applications on the Injective ecosystem, which is based on the Cosmos network, without requiring significant modifications to the DApps’ code.
Injective developers explained that the new solution was developed in collaboration with blockchain infrastructure platform Caldera to help Ethereum application builders expand the reach of their projects in the Web3 ecosystem.
inEVM is the first Ethereum Virtual Machine (EVM) capable of achieving true composability on Cosmos, the protocol developers said. This solution offers global access to the Injective ecosystem and, with it, a new realm of blockchain opportunities.
With the launch of this solution, Injective Chain developers seek to redefine the interaction of Ethereum developers in the blockchain ecosystem, to accelerate the growth and adoption of decentralized financial applications.
Building for Web3 Finance
The development of Web3 demands an infrastructure optimized to support the new generation of faster, more innovative and revolutionary applications that are being built in the industry today. This is the goal that Injective has set, which is offering an instantly executed smart contract infrastructure optimized for Web3 financial applications, in order to shape the future of finance.
Injective is a pioneer in providing decentralized financial tools to users on Cosmos, which is helping to build a fully integrated ecosystem for Web3 finance. Its recent inEVM solution is part of the protocol’s plans to consolidate this goal.
Electrochains, new networks for interoperability, scalability and security
Through inEVM, the Injective protocol seeks to accelerate the development of blockchain finance, democratize access to the financial future, and simplify user interaction with the decentralized web.
This new solution will also help introduce a new type of networks, called Electro Chains, which are designed to meet the interoperability needs in the blockchain ecosystem and to ensure a high level of scalability and security by inheriting the decentralized features of Injective.
At the moment, inEVM has been implemented on the Injective testnet and its migration to the protocol's mainnet is planned for sometime in the fourth quarter, the developers indicated in a release.
In March of this year, Injective introduced a similar solution, called inSVM, to connect the Solana network with Cosmos. Similar to inEVM, inSVM allows Solana developers to deploy their Solana-based smart contracts and decentralized applications on the Injective ecosystem without much effort.
inEVM boosts the price of INJ in the market
Following the launch of inEVM, the price of INJ registered a 10% increase. According to data from the cryptocurrency price monitoring platform, INJ is trading on the market above $7,4 per unit.
INJ is Injective’s native utility token, which is used to secure the blockchain through staking and to ensure decentralization. INJ holders can participate in the network’s governance, both to approve proposals for on-chain upgrades and new protocol integrations and other developments.
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