Injective Layer-2 Testnet has just been unveiled for the inEVM L2 rollup solution, developed in collaboration with Caldera. This exciting release enables Ethereum applications to seamlessly operate on the network.
1/ Injective today is introducing the launch of inEVM, the first-ever Ethereum Virtual Machine capable of achieving true composability across @cosmos and @solana.https://t.co/WJcrW6REiT
— Injective 🥷 (@Injective_) September 19, 2023
What are the new technicalities for the Injective Layer-2 Testnet?
Injective ($INJ), the Layer 1 blockchain built on Cosmos, has introduced its inEVM Layer-2 solution on the testnet in partnership with the customizable rollup project, Caldera. This innovation empowers Ethereum applications to seamlessly operate within the Injective ecosystem.
With compatibility for the Ethereum Virtual Machine (EVM), inEVM enables Ethereum developers to deploy their applications, including decentralized exchanges, on Injective without requiring any code modifications.
Distinguishing itself from similar EVM solutions on different Layer-1 blockchains like Aurora (on Near) or Neon (on Solana), inEVM functions as an EVM rollup tightly integrated with Injective. The solution leverages the security measures provided by Injective mainnet’s validator set, as confirmed by a spokesperson for The Block.
Injective Layer-2 Testnet’s inEVM Unlocks a New Frontier for Ethereum Developers. With inEVM, Ethereum developers unlock unprecedented access to Injective’s global network and user base, opening up a wealth of new opportunities to expand the reach of their protocols.
This milestone follows Injective’s recent release of inSVM (formerly known as “Cascade”), the pioneering Solana Virtual Machine (SVM) roll-up solution integrated into the broader Inter-Blockchain Communication (IBC) ecosystem. This innovation empowers Solana developers to effortlessly migrate their applications to Injective, broadening their audience without requiring extensive code modifications.
Injective has a history of pushing the boundaries of Web3 technology, and its latest creation, inEVM, is set to revolutionize how Ethereum developers engage with the wider blockchain universe. With inEVM, Ethereum developers can leverage Solidity to effortlessly deploy their applications within the Injective ecosystem.
Injective’s overarching mission is to democratize the financial future by promoting decentralization throughout the blockchain landscape. As Layer 1 solutions continue to evolve, different networks must cooperate seamlessly, and Injective’s rollup environment serves as the dynamic bridge connecting these networks. By enabling developers to swiftly launch their applications on multiple VM environments and simplifying user interaction with Web3, Injective is forging a cohesive, user-centric Web3 environment that prioritizes collaboration over competition. Future plans include decentralizing sequencers and validators through innovative solutions like Altlayer and Espresso Systems.
The question with Injective holders recently is what is the Unit Selling Point (USP) to compete with previous players like Arbitrum, Optimism, opBNB, or Base.
Read more: Powered opBNB layer-2 hits mainnet – Strong player?
Why Injective Layer-2 Testnet in EVM is so important?
Building on the foundation laid by inSVM, a Solana Virtual Machine (SVM) roll-up solution seamlessly integrated into the Inter-Blockchain Communication (IBC) ecosystem, inEVM represents a significant advancement in the development of a robust Web3 ecosystem.
Developers stand to gain numerous advantages from inEVM, including lightning-fast transaction speeds, instantaneous transaction finality, a versatile toolkit, shared liquidity, and the ability to compose applications across the vast Cosmos IBC network and the Solana blockchain. This means that decentralized applications (dApps) on inEVM can effortlessly collaborate with applications on the Cosmos and Solana platforms.
As strong advocates for decentralization, the team at Everstake believes that these developments will greatly simplify user interactions with Web3 services, making them more attractive to a wider audience and thus accelerating mass adoption.
Innovations like inEVM play a pivotal role in realizing the Web3 vision by addressing critical interoperability challenges, encouraging active developer involvement, and ultimately enhancing the scalability and accessibility of blockchain technology.
Eric Chen, co-founder and CEO of Injective Labs, commented,
“inEVM will empower Ethereum developers to effortlessly deploy applications across Injective rollups while tapping into a vast network of users and liquidity.”
He added,
“This represents a significant leap forward for Web3, as we strive to create a fully integrated ecosystem where developers and users can maximize the benefits of an optimized infrastructure stack without encountering barriers between networks.”
Injective Layer-2 Testnet ‘s launch of inEVM underscores its commitment to driving innovation and collaboration within the blockchain space. As the global financial landscape continues to evolve, Injective remains at the forefront, facilitating the growth and development of Web3 finance.