Injective Launches inEVM, a First-of-its-Kind Ethereum Virtual Machine for Enhanced DeFi Development
In a major development for the blockchain industry, Injective Protocol has launched inEVM, the first-ever Ethereum Virtual Machine (EVM) designed for composability across Cosmos and Solana blockchains. This groundbreaking technology is built on Celestia’s modular blockchain infrastructure and utilizes Caldera’s rollup technology for enhanced performance and scalability.
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inEVM is live on Mainnet!
We're thrilled to collaborate with @injective to launch the first-ever EVM with composability across Cosmos & Solana with @CelestiaOrg underneath.
Learn more 🧵 pic.twitter.com/riKJZm1x68
— Caldera (@Calderaxyz) March 7, 2024
in EVM unlocks a new era for Ethereum developers. They can now leverage Injective’s high-speed, low-cost network and global user base to expand the reach of their DeFi protocols. Developers can continue using Solidity, the standard programming language for Ethereum, while simultaneously opening their applications to users on both Ethereum and Solana.
Here’s what makes inEVM unique:
- Concurrent EVM Environment: Built with Caldera’s rollup infrastructure, inEVM offers a unique concurrent environment that optimizes performance and composability. This allows developers to build applications that seamlessly integrate with existing DeFi protocols on Ethereum and Solana.
- Enhanced Interoperability: EVM achieves its cross-chain capabilities through integrations with key players like Celestia (modular blockchain), LayerZero Labs (interoperability), and Hyperlane (bridging). This combination ensures smooth data and asset transfer across Ethereum, Cosmos, and Solana.
- Benefits for Ethereum Developers: inEVM empowers Ethereum developers with several advantages:
- Access to Injective’s network and user base for wider reach.
- Faster transaction times and lower costs compared to Ethereum mainnet.
- Ability to continue development using familiar Solidity language.
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The press release highlights the crucial role Caldera played in the development process. Injective acknowledges Caldera’s robust infrastructure stack, exceptional tooling, and ongoing support throughout the inEVM journey, from ideation to testnet deployment and now to the mainnet launch.
inEVM’s arrival is a significant step towards a more unified and efficient blockchain ecosystem. With its focus on composability and interoperability, in EVM paves the way for the future of DeFi development, offering exciting possibilities for developers and users alike.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
