The Injective protocol is a platform that allows its users unlimited access to a plethora of Defi markets. The system allows users to create any financial market of their choosing on its fast, cross-chain, network at zero gas fee. The system also provides a total decentralized exchange protocol while its security is top-notch.
Injective Chain has a custom design protocol that allows it to support Defi applications compatible with the Ethereum blockchain. This also includes apps that have sub 2 second block times, reach finality instantly, and provide seedy transactions (10,000+ TPS).
Objective Protocol also provides a trading platform that is supported optimally by an order book of central limit which incorporates the high speeds provided by centralized exchanges, in addition to its user-friendly interface. The protocol’s unique order book designed to be decentralized also provides an avenue that supports the trading of cryptocurrency tokens across different chains. It also has inclusions of other infrastructures such as perpetuals, synthetics, foreign assets across varying blockchains like BSC or Ethereum and Futures.
Who are the Founders of Injective Protocol (INJ)?
The Injective Protocol is a product of grander cooperation known as Injective Labs.
The cooperation was founded by the collective efforts of different professionals, among which include Eric Chen. Chen is one of the biggest names in the world of blockchain technology. Before becoming a part of the Injective cooperation, he used to trade cryptocurrencies, a job that made him become a pioneer in the world of market neutral trading and also land investment vehicles in several major companies such as Cosmos, Chain Link, and Ox. Additionally, he was also a cryptographic researcher. In general, Chen is extensively experienced in both traditional financial trading, as well as their secondary blockchain applications in different blockchain-based communities.
Another major branch of the company is its CTO and Co-founder, Albert Chan. Apart from being a pioneering person in new standards used by the Ethereum network, as a whole, Chan is also well-read. He holds both a Master’s and Bachelor’s degree from Stanford University in computer science. Before his days at Injective started, he was a software developer at Amazon.
What is Injective Protocol (INJ) used for?
Injective Protocol provides several advantages, among which includes a decentralized exchange protocol that delivers a series of features, some of which include the provision of cross-chain margin trading services, Forex, and derivatives. Upon its creation, the system was designed to be a permissionless and decentralized ecosystem where transactions can be executed with zero gas fees. The Injective protocol also has the backing of the Cosmos blockchain and connects to the Ethereum network on a grand scale.
To perform transactions on the network, users are required to make use of its dedicated cryptocurrency token known as INJ. This is not where the use case of the token ends, INJ also holds value outside the network in the global token marketplace. As such, the token holds a level of value and might be swapped with other cryptocurrency pairs for the holders to earn profits.
What Is the Unique Point of Injective Protocol (INJ)?
The Injective Protocol grants access to anyone interested in trading or creating limitless Defi markets. As a result of this, futures, perpetual’s, crypto, as well as complete financial derivatives can be traded via the Injectibs ecosystem in a decentralized way. On the platform, trades executed occur at lightning-fast speed, while it also ensures the instantaneous achievement of Finality, at the cost of zero fees. Participants who use the Injective system have the avenue to seamlessly execute trades across different blockchain networks. These blockchains cut across the Binance Smart Chain, the Cosmos, and Ethereum.
Additionally, transactions can be facilitated on other secondary-based blockchains such as the Terra system in the Cosmos network. The Injective team prides itself in creating the first dedicated interoperable protocol developed specifically for Defi applications. Because of this, there is an avenue for anyone to build new cross-chain decentralized applications via Ethereum-based tools offering fast transaction time and instantaneous finality while also providing the developers with unparalleled incentives.
The original compatibility protocol used by Ethereum based apps provide an avenue for developers to leverage already created Ethereum development tools in order to supercharge their decentralized apps. As such, anyone with the means is able to run the Defi application across corresponding chains which can reach millions of users with its infinite scalability function.
How many Injective Protocol (INJ) coins are in circulation?
INJ is the dedicated cryptocurrency of the Injective Protocol. Apart from having the basic qualities of other cryptocurrencies, the INJ is also a limited asset that serves the purpose of exchange value capture, governance process, staking, and mining of liquidity. According to the system, 60% of all the fees earned from facilitating transactions are currently used to buy and burn INJ tokens every 14 days, thus allowing the total supply of INJ to reduce over an extended period. Additionally, the transactions executed on the Injective Protocol that see facilitated through new Injective ecosystem projects also aid the burning of more INJ tokens.
The Injective Protocol has a maximum supply of 100,000,000 tokens and of that, it has a current circulating supply of 43,655,553 INJ tokens.
Is the Injective Protocol (INJ) Network secured?
Injective Protocol as a blockchain is operated on a dedicated proof-of-stake consensus mechanism based on the Tendermint. As such, Outstanding validators make the network as decentralized as possible while also ensuring its security in the highest capacity. The Injective System’s Consensus mechanism is able to achieve instantaneous finality in its transaction while also steering towards a 99% reduction in the carbon footprint.
How do I buy Injective Protocol (INJ)?
One of the principal advantages of the Injective Protocol is its complete removal of gas fees, while also providing users with the highest level of interoperability and speed, backed by top-notch security. As such, there has been a surge in its rate of adoption, making it available on several exchanges all over the world. Currently, INJ tokens can be purchased easily by the steps below.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy INJ through your trading account.
Which Cryptocurrency Wallet Supports Injective Protocol (INJ)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Injective Protocol (INJ). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their INJ wallet because it offers a simple and interactive interface making it easy for people to navigate its system.