Initia is a network for 0-to-1 omnichain rollups built by fusing a novel L1 with an interwoven application-specific L2 infrastructure system. The Initia Platform provides product ready rollups that enables teams to build scalable and sovereign systems while eliminating the UX complexities end users face when interacting with a modular multi-chain universe. Initia’s ownership of the full tech stack allows for a suite of chain-level mechanisms that align the economic interests across users, developers, L2 app chains, and the L1.
The Initia L1 is an interoperable network that employs MoveVM, the first integration of the Move Smart Contracting Language natively compatible with Cosmos’ Inter-Blockchain Communication (IBC) protocol. Furthermore, Initia’s architecture enables L2s to utilize EVM, WasmVM, or MoveVM while facilitating seamless messaging and bridging between them. Initia uses a robust economic system to align incentives throughout the entire ecosystem.
Through Initia’s architecture, developers can easily launch application-specific blockchains as Initia Layer-2 without needing to know about complex infrastructure or run validators. In the future, Initia will design economy and user experience features, including:
– Native stablecoins;
– Multi-chain bridge;
– Set up a transaction program without gas fees and reasonable gas usage;
– Account Abstraction (AA).
On the evening of October 12, 2023, Binance Labs announced its investment in Initia, a Layer-1 blockchain project on the Cosmos network designed according to the highly connected Rollup model.
Initia will use the newly raised capital to provide infrastructure for developers to build their own Layer-2 scaling solutions, upgrade product tools and incubate additional projects. Other dApps projects on Initia blockchain.
Initia’s successful launch and capital raising from Binance Labs is a positive sign for the cryptocurrency market, showing that investors are still interested in new Layer 1 projects, even during a market downturn.
Hopefully this article will help you understand and grasp more basic information about the Initia project.