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 started its community buyback program, which allowed community members to commit the blockchain’s native token INJ to a pool that will be used to buy and burn tokens and reduce the total supply, in return receiving a 10% dividend from the ecosystem’s revenue.
The launch of the native EVM on Tuesday also brings more than 40 decentralized applications (dApps) and infrastructure providers online, marking what the team describes as “a new era of onchain finance.”
An embedded virtual machine (VM) like Injective’s EVM acts as the blockchain’s “engine room”—it’s the environment that runs the smart contracts and applications that make decentralized finance work. Having a built-in EVM means developers can build Ethereum-style apps directly on Injective without additional layers or bridges, making it faster, cheaper and more secure.
Developers building on Injective can build using both WebAssembly (WASM) and EVM environments within one unified ecosystem, allowing applications to share liquidity, assets and modules across the network, removing one of the biggest pain points in blockchain development: fragmentation. With the EVM layer, developers can use familiar tools while benefiting from Injective’s speed and near-zero gas fees. The team also shared that the Solana VM will soon be available so that Solana applications will eventually be seamlessly connected to the Injective ecosystem as well.
For users, the change means faster transactions and more options. Injective boasts block times as short as 0.64 seconds and fees as low as $0.00008 per block. transaction.
“This launch represents Injective’s MultiVM vision coming to life,” the team wrote in their press release. “This flexibility combined with Injective’s advanced financial modules creates unprecedented opportunities for innovation.”
Read more: Injectives TVL rises 14% during buyback launch, but INJ Token sinks 8%
