According to PANews, Injective Labs has announced plans to launch its independent Layer-3 network 'inEVM' based on Arbitrum's Layer-2 technology. The network will connect the Ethereum, Cosmos, and Solana blockchain networks, enhancing interoperability and composability using the Arbitrum Orbit toolkit. 'inEVM' is compatible with the Ethereum Virtual Machine (EVM), offering developers new opportunities to build applications within the Ethereum Layer-2 ecosystem.
The move by Injective Labs is seen as a significant step towards improving the functionality and efficiency of blockchain networks. By connecting three major blockchain networks, the 'inEVM' network will facilitate seamless interaction and data exchange between them. This is expected to boost the development and deployment of decentralized applications (dApps) across these networks.
The 'inEVM' network's compatibility with the Ethereum Virtual Machine (EVM) is another key feature. This compatibility allows developers to leverage the Ethereum Layer-2 ecosystem's capabilities, providing them with new opportunities to create and innovate. The use of Arbitrum's Layer-2 technology as the foundation for the 'inEVM' network further enhances its potential, offering improved scalability and performance for applications built on it.