Layer 1 blockchain Injective has rolled out what it calls its most significant upgrade yet: a native Ethereum virtual machine (EVM) layer.
The upgrade aims to make Injective a go-to platform for developers and institutions by combining Ethereum compatibility with Injective’s existing high-speed infrastructure.
The news comes nearly two weeks after Injective launched its Community Buyback Program, which allows community members to stake the blockchain’s native INJ token into a pool that will be used to purchase and burn tokens, reduce the overall supply, and receive a 10% yield on ecosystem revenue in return.
The native EVM launch on Tuesday also brings more than 40 decentralized applications (dApps) and infrastructure providers online, marking what the team describes as “a new era of on-chain finance.”
A native virtual machine (VM) like Injective’s EVM acts as the “engine room” of the blockchain: it is the environment that runs the smart contracts and applications that make decentralized finance work. Having a native EVM means developers can build Ethereum-style applications directly on Injective without additional layers or bridges, making it faster, cheaper and more secure.
Developers leveraging Injective can build using WebAssembly (WASM) and EVM environments within a unified ecosystem, so applications can share liquidity, assets, and modules across the network, eliminating one of the biggest problems in blockchain development: fragmentation. With the EVM layer, developers can use familiar tools while enjoying Injective’s speed and near-zero gas fees. The team also announced that the Solana virtual machine will be available soon, so Solana applications will also be seamlessly connected to the Injective ecosystem.
For users, the change means faster transactions and more options. Injective offers block times as low as 0.64 seconds and fees as low as $0.00008 per transaction.
“This launch represents Injective’s MultiVM vision coming to life,” the team wrote in its press release. “This flexibility combined with Injective’s advanced financial modules creates unprecedented opportunities for innovation.”
Read more: Injective’s TVL jumps 14% amid buyback launch, but INJ token drops 8%
