Recent Updates On Injective Protocol

Recent updates on Injective Protocol

June 27, 2023 written by 01NODE

Injective is a specialized interoperable layer one protocol for building powerful exchange, DeFi, derivatives, and Web3 applications. Injective prides itself on being the future of Web3.

What does injective do?

Injective is a specialized and interoperable layer one protocol designed for building powerful exchange, DeFi, derivatives, and Web3 applications. It aims to shape the future of Web3.

Injective stands out by offering developers access to robust out-of-the-box modules, including a fully decentralized orderbook, which can be utilized to create a wide range of sophisticated applications. Additionally, it serves as an open and interoperable smart contract platform.

Built using the Cosmos SDK, Injective achieves instant transaction finality through the Tendermint proof-of-stake consensus framework. This enables fast cross-chain transactions across major layer one networks such as Ethereum and Cosmos Hub.

The Injective ecosystem comprises a network of decentralized applications that prioritize delivering an exceptional user experience. By granting unrestricted access to decentralized financial markets, products, services, and tools, the Injective ecosystem empowers individuals to efficiently allocate capital.

Recent Updates on Injective blockchain

Here are the recent updates on the injective protocol:

  • Injective has surpassed 240 million on-chain transactions, indicating the growing adoption and usage of the protocol.
  • The block time of Injective is 0.9 seconds, enabling fast transaction confirmation and scalability.
  • Helix App, which is powered by Injective, has achieved a significant milestone by surpassing $10 billion in trading volume. It is recognized as the only truly decentralized derivative exchange.
  • Talis Protocol, the first NFT marketplace built on Injective, has launched its mainnet. This provides a platform for trading and exchanging non-fungible tokens in a decentralized manner.
  • Injective organized its inaugural hackathon, attracting more than 350 builders who showcased their projects. The top six projects were selected as winners, demonstrating the creativity and innovation within the Injective community.
  • Injective has partnered with Nois RNG to integrate its transparent and secure random number generation technology. This integration enhances the Web3 environment by ensuring fairness and security in various applications and protocols.
  • Injective has introduced the Open Liquidity Program (OLP), which brings increased liquidity to the Injective ecosystem. The OLP allows users to earn on-chain rewards with ease, making it accessible to a wide range of participants.

These updates highlight Injective’s continued growth, technological advancements, and commitment to providing a decentralized and interoperable platform for building various applications within the Web3 ecosystem.

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