Injective (inj)
Injective (INJ) is a blockchain focused on optimization for decentralized finance (DeFi). The ecosystem is based on a decentralized network that provides scalable plug-and-play Web3 modules, such as a decentralized order book that developers can use to create financial decentralized applications (dApps). For instance, applications can use the order book to launch exchanges and prediction markets on the blockchain.
Injective was launched in 2018 from Binance Labs and has received investment from crypto-focused US hedge fund Pantera Capital, Web3 investment firm Jump Crypto, and billionaire investor Mark Cuban.
The blockchain was built using the Cosmos software development kit (SDK) and can reach instant transaction finality using the Tendermint proof-of-stake (PoS) consensus framework. The mainnet launched in the fourth quarter of 2021, and Binance natively connected to the mainnet in the second quarter of 2022.
Techopedia Explains
Injective is natively interoperable across sovereign Layer 1 blockchain networks and is also Inter-Blockchain Communication (IBC) enabled. It can facilitate cross-chain transactions across Ethereum, Moonbeam, IBC-enabled chains such as CosmosHub, and Wormhole-integrated chains such as Solana and Avalanche, according to its documentation.
This means that tokens launched on the Injective blockchain can be used across multiple networks, and crypto assets or Web3 data can be transferred from other blockchains for use in any application built on Injective.
Since the third quarter of 2022, Injective has supported CosmWasm, an auto-executing smart contracting platform built for the Cosmos ecosystem that enables developers to launch their own smart-contract-powered dApps on the blockchain and migrate contracts that run on other chains supporting CosmWasm. Injective added on-ramp access for fiat currency in the fourth quarter of 2022.
