What is Injective (INJ)? Overview, Features, And Complete Working 

Blockchain technology expanded its strong roots in the field of finance. Features like decentralization, security, and scalability enhanced the acceptance of such technologies with time, mainly in financial services. Injective, a blockchain platform introduced to the crypto world that shaping the future of finance.     

Definition and Overview 

Injective is the only blockchain where developers can access powerful ready-made modules such as a fully decentralized order book that can be used to build a variety of complex applications. Moreover, it is an open interoperable smart contracts platform.

Injectvie Labs is the research and development company that first started contributing to Injective Protocol, introduced by Eric Chen. 

The platform is built using the Cosmos SDK and can achieve instant transaction finality using the Tendermint proof-of-stake consensus framework. In addition, it can enable fast cross-chain transfers across the largest layer-one networks such as Ethereum and Cosmos Hub.

The Injective Ecosystem 

The Injective ecosystem is a network of decentralized applications that focus on providing the best user experience. 

By providing the unlimited and unparalleled ability to access decentralized financial markets, products, services, and tools, the Injective ecosystem empowers individuals with the ability to more effectively allocate capital.

Featured dApps, blockchains, data, Apps and Tooling, Institutions, Stablecoins, Interoperability, Stablecoins, Venture Capital, and Wallets are a few of the main elements of the ecosystem. A few of the examples are as follows:

Featured dApps: Exotic Markets, Aeroscraper, Becole, Apollo DAO, Mito, etc. 

Apps & Tooling: 1rpc, Alash, Blocksmith Labs, Caldera, CoinGecko, etc. 

Blockchains: BNB Chain, CosmosHub, Astar, Polygon, Ethereum, etc. 

Stablecoins: USDC and USDT.

Wallets: Trezor, MetaMask, Leap, Ledger, Kepler, Ninja, Etc.   

What Makes the Platform Unique? 

Optimized for decentralized finance: The platform provides ready-made financial primitives such as a fully decentralized order book to allow developers to create mainstream dApps. For example, applications can use the order book to launch exchanges, prediction markets, and various other on-chain strategies.

Interoperable: The blockchain platform is natively interoperable across several independent blockchain networks while also being IBC-enabled. Also, it can facilitate smooth cross-chain transactions across Ethereum, Moonbeam, IBC-enabled chains such as CosmosHub, and Wormhole-integrated chains such as Solana, Avalanche, and many more.

Build dApps Using CosmWasm: The blockchain supports CosmWasm, a novel smart contracting platform built for the Cosmos ecosystem. That means developers can easily launch their smart-contract-powered applications on Injective. Smart contracts that work on other chains supporting CosmWasm can seamlessly be migrated to Injective.

How to Buy The INJ Token? 

INJ, the native utility token of the blockchain platform is mainly used for governance, dApp value capture, and staking. The token has a total supply of 100,000,000 INJ and a circulating supply of 83,755,556 INJ.   

Four easy steps can help any individual become an INJ Token holder. 

Compare crypto exchanges: The easiest way to buy INJ tokens is from a cryptocurrency exchange. Comparing Binance, OKX, Bybit, CoinTR Pro, and Bitrue lets individuals find one with the features they want such as low fees, ease of use, or 24-hour customer support.

Create an account: To create an account on an exchange, users will need to verify their email address and identity. Have some photo ID and phone ready.

Make a deposit: Once verified, users can deposit funds using the payment method that best suits them. Cryptocurrency, card, and bank payments are widely accepted and common methods.

Buy Injective: individuals can now exchange their funds for INJ Token. On easier-to-use exchanges, this is as simple as entering the amount the user wants to purchase and click buy. 

Conclusion 

Injective is a blockchain platform that aims to provide the best Web3 applications for finance, such as decentralized exchanges, prediction markets, lending protocols, and more. It offers unique features, such as a fully decentralized order book, cross-chain interoperability, and CosmWasm smart contracts. 

The blockchain platform is powered by its native token INJ, which is used for governance, staking, and dApp value capture. Also, it is backed by prominent investors and partners and has a growing ecosystem of developers, validators, and users.

FAQs 

What is the difference between Injective and other DEX platforms?

Injective is different from other DEX platforms in several ways in terms of support to a wide range of financial markets, such as spot, perpetual, futures, and options, all on-chain. Resistant to MEV, zero gas fees for users, and high interoperability with multiple layers 1 blockchains, such as Ethereum, Cosmos, Solana, and more make it unique.

How can I participate in the Injective governance?

To participate in the governance, you need to stake your INJ tokens on the Injective blockchain, either as a validator or a delegator. 

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.