- Injective’s wormhole integration enables even more sophisticated transmission across the network, the company said
- According to Eric Chen, CEO of Injective Labs, the move will also enable cross-chain trading across different networks
The decentralized blockchain network Injective announced on Wednesday that it has integrated the cross-chain messaging protocol Wormhole to increase liquidity and improve the accessibility of its platform.
With the addition of Wormhole, Injective aims to unlock more than ten additional Layer 1 and Layer 2 blockchains including Polygon, Algorand and Solana by connecting them to its network.
The move is an attempt to transform Injective from an exchange-centric blockchain to a decentralized financial hub. The goal is to provide more use cases for proprietary digital assets that can be leveraged beyond their chain of origin, Eric Chen, CEO of Injective Labs, told Blockworks in an email.
Wormhole is a generic message-passing protocol that connects high-value blockchains and allows applications to leverage the messaging layer to facilitate interoperability across different ecosystems.
The protocol was not impermeable to nefarious actors who sought it Exploit when it became the target of an attack in February.
However, the post-integration focus is on allowing applications on other chains to access and compose with the Injective ecosystem, as well as enabling more sophisticated transmissions — such as random messages, Chen said.
“This integration will help expand the range of possibilities and functionalities for builders,” said Chen. “The first focus is to enable wealth transfers from all chains.”
Apps developed on Injective could open opportunities for cross-chain trading across different networks or provide returns on Solana-based assets, the CEO added.
Injective is a Layer 1 Proof-of-Stake blockchain aimed at building financial applications. Its ecosystem touts the ability to enable developers to leverage critical DeFi fundamentals such as liquidity, risk, leverage, and arbitrage opportunities.
“This integration opens the pool of users who can use an application,” said Chen. “It expands the audience range for the developer, which can create a larger market when considering a product-market fit.”
The post Injective integrates the wormhole bridge to cross-chain accessibility is not financial advice.
Source: Crypto News Austria