Injective, a decentralized exchange and layer-2 protocol has announced the release of Cascade, the first-ever Solana Sealevel Virtual Machine (SVM) rollup for the inter-Blockchain Communication (IBC) ecosystem supported by Cosmos.
According to the announcement, this new integration will bring the SVM into the broader Cosmos ecosystem, a decentralized network of interconnected blockchains that enables interoperability between different networks.
What Is Solana’s Cascade And How Does It Work?
The launch of Cascade by Injective could represent a significant development for the company, as it enables access to the large and growing Solana developer ecosystem, valued at over $9 billion with the Cosmos ecosystem.
According to the announcement, Cascade was made possible through contributions from Injective and Eclipse, a customizable rollup provider enabling developers to create unique decentralized applications without making technical trade-offs.
The Solana Virtual Machine (SVM) is a smart contract runtime used by the Solana blockchain network. SVM is designed to enable parallel processing of transactions, similar to Injective’s core infrastructure. This means that SVM can process tens of thousands of transactions in parallel instead of only one transaction at a time.
Per the announcement, the launch of Cascade by Injective involves several discrete deployment phases. The initial phase is the Cascade testnet beta, which the Eclipse team will operate.
During this phase, transactions from Solana wallets and smart contracts deployments from the protocol’s command-line interface (CLI) will be received by an SVM sequencer operated by Eclipse.
In the future, contributors to Cascade plan to integrate Celestia, the first modular blockchain network, as the data availability provider, which has the potential to expand Cascade’s scalability properties further.
According to the announcement by Injective, the goal is to have the sequencer operate permissionless, with Injective serving as the core settlement layer to ensure that the sequencer executes transactions correctly.
Why Is This Development Significant?
For several reasons, the integration of Solana’s SVM into the broader Cosmos ecosystem through Cascade by Injective is important for Solana.
Firstly, it enables the protocol’s developers to deploy their Solana contracts and decentralized applications on Injective rapidly. As mentioned before, this can potentially unlock new use cases and applications for the network.
Integrating Solana’s SVM into the Cosmos ecosystem enables greater interoperability and collaboration between these blockchains. This has the potential to facilitate the creation of new dApps that can operate across multiple networks with billions of dollars in total value locked and millions of users.
Finally, the parallel processing capabilities of Solana’s SVM make it an attractive platform for developers looking to build decentralized applications. This integration allows Solana to position itself as a major player in developing next-generation dApss and cross-chain infrastructure. Eric Chen, Co-founder and CEO of injective Labs, claimed:
Injective is continuing to build the most dynamic ecosystem for Web3 finance. Cascade will not only empower developers from Solana to deploy their dApps on Injective, but it will also create more opportunities for users to experience the best Web3 applications in one integrated network.
Featured image from Unsplash, chart from TradingView.com
Source: https://bitcoinist.com/injective-unveils-cascade-the-first-solana-rollup/