As an experienced blockchain analyst, I’m excited about this partnership between Arbitrum and Injective. This collaboration is a significant step towards enhancing interoperability and unlocking new opportunities within the Ethereum L2 ecosystem.
As a data analyst, I’d express it this way: I’ve discovered that the foremost Layer 2 (L2) scaling solution on Ethereum, Arbitrum, has formed a partnership with Injective, a finely crafted blockchain platform specifically tailored for financial applications.
Today, we’re revealing the integration of Injective’s inEVM with Arbitrum Orbit, which will deliver a customized and interoperable rollup connecting Cosmos and Ethereum networks. Developed by Injective and Caldera XYZ, inEVM ensures swift transaction processing speeds throughout Injective, Cosmos, and Arbitrum.
— Arbitrum (💙,🧡) (@arbitrum) May 8, 2024
The integration of Injective’s inEVM into Arbitrum Orbit is intended to create a groundbreaking interoperability solution. Notable as the initial Ethereum Virtual Machine (EVM) enabling genuine compatibility across Ethereum, Cosmos, and Solana, inEVM from Injective will be merged with Arbitrum Orbit.
With this toolkit created by Offchain Labs at your disposal, you’ll be able to give life to sophisticated Layer 2 and Layer 3 projects on various blockchain networks. The implementation of inEVM is slated as a Layer 3 solution.
The Injective EVM rollup, known as inEVM, brings authentic interoperability between Ethereum, Cosmos, and Solana networks. Soon, inSVM will debut on Injective’s mainnet.
As a researcher exploring decentralized applications (dApps), I would recommend taking advantage of Injective’s features for an optimal development experience. By utilizing Injective’s faster transaction times, lower costs, and Inter-Blockchain Communication (IBC) network connectivity, you can create and test your dApps in a sandbox setting. This approach enables you to deploy applications across multiple layers and protocols simultaneously, streamlining the development process and enhancing overall efficiency.
Now, InEVM will adopt Arbitrum Nitro’s technology, combining Arbitrum’s developer resources with Injective’s customized infrastructure. This collaboration provides developers with expanded possibilities within the Ethereum L2 platform while preserving Injective’s swift performance and affordable transaction costs.
Eric Chen, the co-founder and CEO of Injective Labs, stressed the significance of integrating with Arbitrum, going beyond just improving blockchain network or infrastructure. He pointed out its contribution to increasing compatibility among Ethereum, Cosmos, and other major Layer 1 networks.
Injective’s mainnet now supports the seamless integration of inEVM and Arbitrum’s elements, allowing developers to enhance their experience. This means designers can utilize popular Ethereum development tools such as Hardhat and Foundry with Injective’s native currency, $INJ.
The unique burn auctions at Injective are fueled by transactions taking place on the inEVM rollup. Each week, a specific percentage of all protocol fees is systematically torched as part of this process.
CEO and Co-founder of Offchain Labs, Steven Goldfeder, expressed that through Injective’s inEVM, we are witnessing the creation of the most sophisticated interoperability example yet between Cosmos and Offchain Labs.
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2024-05-08 21:56