Tuesday, 23 July 2024

Crypto News

Injective’s EVM Layer 2 Targets Ethereum, Cosmos, Solana; AI Crypto Aiming to Surpass Injective Attracts Whales

Injective's EVM Layer 2 Targets Ethereum, Cosmos, Solana; AI Crypto Aiming to Surpass Injective Attracts Whales

The blockchain space is in fierce competition for developer mindshare, particularly with the rise of Layer 2 solutions and after the recent SEC decision on Bitcoin ETF.

Injective Labs, the team behind the high-speed Injective Protocol, recently entered the fray with the launch of inEVM, its very own Ethereum Virtual Machine (EVM) Layer 2 roll-up. But Injective isn’t the only emerging crypto project making headlines. A new blockchain ICO contender, InQubeta (QUBE), is generating buzz with its innovative approach to supporting AI tech startups – and it’s attracting significant investor interest.

Injective Bets on Interoperability with inEVM

Following a successful testnet phase, Injective has officially launched inEVM on its mainnet. This Layer 2 solution positions itself as a game-changer, boasting the ability to achieve true composability across leading blockchains like Ethereum, Cosmos, and Solana. This aligns perfectly with Injective’s vision of establishing a network of “Electro Chains,” essentially expanding its Layer 2 ecosystem while simultaneously enhancing interoperability across blockchains.

inEVM specifically caters to Ethereum developers by allowing them to build decentralized applications (dApps) that leverage Injective’s blazing-fast speeds and near-zero transaction fees. This seamless integration with the familiar EVM environment and WebAssembly (WASM) opens doors for a wider pool of developers to contribute to the Injective ecosystem.

Looking back, Injective’s rapid growth has been fueled by its status as one of the fastest-growing Layer-1 blockchains. However, the team recognized the growing demand for EVM infrastructure from its developer base. inEVM addresses this need by providing a familiar environment with the added benefits of Injective’s native features and plug-and-play modules.

Injective isn’t alone in embracing the EVM standard. Several other prominent blockchain platforms have recently announced similar initiatives. QuickNode, a leading blockchain infrastructure provider, recently launched its Immutable zkEVM, offering developers a scalable EVM-compatible platform with low transaction costs.

Similarly, Conflux Network has ambitious plans to launch an EVM-compatible Bitcoin Layer 2 solution by May 2024.

InQubeta: The AI Crypto Primed for Takeoff

While Injective focuses on developer experience…

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