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Injective Labs, the developer of layer 1 blockchain Injective, has introduced inEVM, a new scaling layer for Ethereum composability. inEVM, developed in collaboration with Sequoia-backed L2 rollup Caldera, will work across the Cosmos and Solana blockchains, the platform said in an announcement.
Shared liquidity and composability across Solana and Cosmos
The new scaling solution offers several benefits to Ethereum developers, including instant transaction finality, shared liquidity and a modular toolkit. Developers can also achieve direct composability with Solana and the Cosmos IBC universe.
Eric Chen, co-founder and CEO of Injective Labs, said:
“inEVM will enable Ethereum developers to effortlessly deploy applications across Injective rollups while also tapping into an expansive network of users and liquidity.”
The launch is a significant milestone for Web3, Chen added, noting that it will help developers access “an optimized infrastructure stack without being hindered by barriers between networks.”
inEVM’s launch follows Injective’s release of inSVM, a Solana Virtual Machine (SVM) rollup layer that integrates into the IBC ecosystem. Solana developers have tapped into the innovation to expand their reach across the Injective dApps ecosystem – all with little code modifications.
4/ dApps launched on the inEVM layer would be able to compose directly with Cosmos and Solana applications.
As a result, both inter and intra VM interoperability would be achieved by @ethereum builders on the inEVM layer.
— Injective 🥷 (@Injective_) September 19, 2023
INJ, the native asset powering Injective, was slightly up on Tuesday morning following the news. At the time of writing, the INJ price was changing hands around $7.44. The cryptocurrency’s value was 8% up in the past week.
The post Injective launches inEVM, offering composability across Solana and Cosmos appeared first on Invezz.
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