Injective layer 1 blockchain has released what it calls its most significant update 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 almost two weeks after Injective kicked off its community buyback program, which allowed community members to pledge the blockchain’s native INJ token into a pool that will be used to buy and burn tokens and reduce the overall supply, and in return receive a 10% return on ecosystem 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 on-chain finance.”
A native virtual machine (VM) like Injective’s EVM acts as the “machine 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 in Injective without additional layers or bridges, making it faster, cheaper, and more secure.
Developers using Injective can do so using WebAssembly (WASM) and EVM environments within a unified ecosystem, so that applications can share liquidity, assets and modules across the network, eliminating one of the biggest pain points in blockchain development: fragmentation. With the EVM layer, developers can use familiar tools while taking advantage of Injective’s speed and near-zero gas fees. The team also shared that Solana VM will be available soon, so Solana applications will eventually connect seamlessly to the Injective ecosystem as well.
For users, the change means faster transactions and more options. Injective boasts block times as low as 0.64 seconds and fees as low as $0.00008 per transaction.
“This release represents Injective’s MultiVM vision brought 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 rises 14% amid buyback launch, but INJ token sinks 8%
