Injective inEVM Goes Live On Mainnet, Will INJ Soar?

Following the successful implementation of its testnet, Injective has now launched its inEVM Layer 2 rollup solution on the mainnet.

Injective inEVM Launches for Developer Comfort

Injective has announced the launch of inEVM, touted as the first Ethereum Virtual Machine rollup “capable of achieving true composability across Cosmos and Solana.” 

This aligns with the protocol’s strategy to establish a network of “Electro Chains” that can expand its Layer-2 ecosystem while also enhancing blockchain interoperability.

Per the post on X, the Injective inEVM protocol has been designed to help Ethereum developers build Decentralized Applications (DApps) that are known for their fast speed and low cost; near-zero fees. This would be done in sync with achieving composability across WebAssembly (WASM) and EVM. 

Injective perceives itself as one of the fastest-growing Layer-1 blockchains in the industry. As it expanded with time and onboarded more developers, it noted that the common request from these developers was the need for an EVM infrastructure. Beyond the development possibilities of these requests, it also meant onboarding Ethereum native builders with familiar languages and tooling.

Injective InEVM was designed to cater to this concern. It is a product from the collaboration with modular blockchain platform Caldera, Hyperlane, LayerZero Labs, and many others. While Hyperlane and LayerZero Labs are interoperability protocols, Caldera serves as the rollup provider. Celestia will provide the Data Availability (DA) layer for the rollup and Pyth Network will be the Oracle provider.

Collectively, the defined goal of Injective inEVM is to provide developers with unparalleled experience while building DApps. Hence, the decision to combine the enhancement from these collaborators and Injective’s native plug-and-play modules. 

Growing Adoption of EVM

Before the Injective inEVM mainnet launch, several other blockchains had embraced the EVM innovation. 

One of the most recent was from the blockchain infrastructure platform QuickNode which released Immutable zkEVM, a platform that offers developers EVM compatibility, high scalability, and low transaction costs. Conflux Network is also looking to launch an EVM-compatible Bitcoin Layer 2 solution by May 2024.

This shift of top protocols towards EVM is indicative of a growing interest in the technology and its capability to make developers’ activities seamless. 

The news of Injective inEVM may have positively impacted the price of its crypto as it has registered about a 12% increase in the last 24 hours. At the time of this writing, INJ was trading at $43.26 and remains one of the few performing altcoins amid broader market consolidation.