In this bull market, we can feel a phenomenon, that is, there are more and more public chains. The previous goal of public chains was to increase TPS and reduce transaction fees. Now each public chain has an ecological matrix, and cross-chain and information transmission have become extremely complicated.
The current public chains are like isolated information islands. The data on each chain is completely incompatible, and cross-chain protocols cannot meet the needs.
Therefore, the concept of chain abstraction was proposed. Chain abstraction means that one wallet can handle all public chains, solving the problem of fragmentation between wallets. In this wallet, you don’t need to consider which chain to operate. As long as there are assets as GAS fees, you can transfer on the chain.
What lnitia wants to solve is the problem of chain abstraction. Other projects working on chain abstraction include Omni Network, Cycle Network, and Polymer. These four projects are called the Four Little Dragons of Chain Abstraction.
1. What is lnitia?
Initia is a complex multi-chain network that simplifies user and developer interactions through a unified experience.
The platform draws on Apple’s design philosophy to integrate different blockchains into one coordinated system that integrates as seamlessly as apps on an iPhone.
Initia's technical architecture includes a Layer 1 coordination layer and a customized Layer 2 infrastructure to facilitate tight integration of modular networks.
In addition, Initia provides a number of services including instant bridging, cross-chain interoperability, and integrated liquidity and security features, committed to providing users with a simple and efficient blockchain experience.
2. What are the highlights of Initia?
Initia has both L1 and L2 architectures, so the highlights are also divided into L1 architecture highlights and L2 architecture highlights
L1 Architecture Highlights:
1.Omnitia Liquidity Hub: This is a built-in DEX, similar to Balancer, that supports weighted and stable exchange pools, facilitating liquidity in a multi-chain world.
2. Enhanced staking yields: Allowing traditionally locked staking liquidity to be used for trading and yield generation.
3. Cross-Minitia routing: Ensure efficient token movement between different Minitia and support seamless transactions within the ecosystem.
4. Omnitia Shared Security (OSS): This is a scalable security framework for protecting assets up to millions of Minitias. The data verification process is optimized using Celestia light nodes and data availability sampling technology.
These features give Initia's L1 architecture significant advantages in providing seamless, secure and scalable infrastructure.
L2 Architecture Highlights:
1. High performance: Minitias supports processing over 10,000 transactions per second with a block time of 500 milliseconds, making it suitable for applications that require high throughput. ]
2. Flexible virtual machine support: compatible with multiple virtual machines, including MoveVM, WasmVM and EVM, to meet different development needs.
3. Advanced rolling capabilities: Provide security and data settlement through Initia Layer 1, while integrating standard CosmosSDK modules and custom modules.
4. Out-of-the-box solutions: Provide key infrastructure services such as payment gateways, transaction support and data management to application developers, reducing the development burden.
5. Comprehensive interoperability: Supports the IBC protocol to ensure compatibility with the Cosmos ecosystem.
These features make Minitia an ideal choice for developing distributed applications.
3. Financing Institutions
Initia is still in its early stages, and currently has only seed round financing, which has reached 7.5 million US dollars.
Initia's first round of financing was only funded by one company, which was Binance Labs
It is basically certain that this project is the son of Binance, because only Binance
Token Economics
At present, Initia's token plan has not been announced, but according to The Block, people holding Initia's governance token INIT will vote on Initia's Layer 2 every month to discuss how to allocate token incentives. They can also set KPIs so that the network will only receive tokens when certain goals are achieved. In a sense, this is like a decentralized funding program built on top of Initia, and provides these Layer 2 teams with additional marketing incentives to attract more users.
5. lnitia team members
Zon and Stan Liu originally worked at Terraform Labs, working on smart contracts and MEV respectively. After the Terra/Luna crash, they decided to suspend their initial fundraising to create a DeFi blockchain on Cosmos and returned the funds to investors. After a period of reflection and planning, they decided to start the Initia project.
To promote the development of @initiaFDN, they have recruited core developers from Cosmos Hub and Terra Station to join the team. Cosmos Hub is the foundational blockchain in the Cosmos ecosystem, and Terra Station is the largest wallet application in the Terra ecosystem. The addition of these teams has injected rich technical experience and industry perspectives into Initia.
As Initia continues to develop, its technology and ideas may have an important impact on the entire blockchain ecosystem, especially for users and developers who seek more efficient and secure blockchain solutions. In addition, users who hold TIA tokens may also receive an airdrop of INIT tokens, which is a reward for early participants and supporters.
Summarize
Initia, this blockchain project draws on Apple's integration philosophy and aims to simplify the user experience in a multi-chain environment through chain abstraction technology.
Its L1 and L2 architecture provides high-performance transaction processing, flexible virtual machine support, and advanced security and liquidity features, which makes Initia a leader in cross-chain interoperability and user-friendliness.
The team has a strong background, including former Terraform Labs employees and core developers of Cosmos Hub and Terra Station, which enhances the technical strength of the project.
Initia is still in the early stage of financing. If you want to get some money, you can try it. Holding TIA may get airdrops
Interactive Tutorial
1) Join Discord: Enter the Initia Discord. Choose and get one of three roles: Eco-Reclaimers, Holo Weavers, or Isolation Navigators.
2) Participate in Blackwing’s staking campaign: Visit Blackwing and register using the invitation code.
3) Connect your wallet and complete social tasks.
4) Stake ETH or USDT within 7 days to get BXP tokens. You can get up to 1000% annualized return by staking BXP, and then this number will gradually decrease.
5) Obtain and share the invitation code on the Reward and Refer interface.
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