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May 26, 2022
by Usha Yadav
Wormhole and Injective have Teamed Up to Provide 10 More Blockchains
Injective (INJ), decentralized finance (DeFi) technology, has teamed up with Wormhole to add "ten new blockchains" to its network. Injective is a layer-2 decentralized exchange (DEX) powered by Cosmos that provides derivatives, token swaps, and sports betting prediction markets. It also prioritizes interoperability through cross-chain bridging, and it now supports digital assets from Ethereum, Polkadot, and IBC-enabled networks like Cosmos. The protocol's creators, Injective Labs, stated in a May 25 release that the cooperation would allow users to transfer and exchange assets across any Wormhole-integrated chain.
"The Wormhole integration will substantially improve Injective's interoperability capabilities." The wormhole will soon be integrated into the backend of the Injective Bridge, allowing users to transfer assets between different EVM chains or Solana with a single click," according to Injective La
Wormhole is a generic messaging protocol that works with various blockchains to provide services like cross-chain application support and token bridges. Not all of the "ten new blockchains" are given names. Solana, Terra, Ethereum, Avalanche, Oasis Binance Smart Chain, Polygon, Fantom, and Aurora are among the nine chains listed on the Wormholes website. With Terra collapsing and Ethereum already being supported, it's uncertain which remaining ten chains will be supported. Injective's ability to "act as the principal gateway for cross-chain native assets from Solana and other prominent Layer 1 chains" into the ecosystem has been noted by the project.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.