Rebranding of the Injective Protocol and the future of the project.
Recently, there has been a lot of talk about rebranding Injective Protocol, but what exactly is it and what changes it should introduce, I will try to explain these terms.
So what was injective:
The Injective Protocol, as the first layer 2 DEX (decentralized exchange), was designed to revolutionize the way traders and organizations can operate with Defi (decentralized finance) . The Injective protocol provides secure, incredibly fast and fully decentralized trading with zero transaction fees and unlimited markets. The protocol is fully compatible with Ethereum and cross-chain, which greatly helps to connect users from different blockchain networks into one unified community in the world of cryptography.
Almost all of the other Layer 1 protocols were designed as a single blockchain to attract all kinds of developers. This is a cumulative problem where the Layer 1 protocol would like to be a simple solution for all DApp applications, and this is well known to fail. It is extremely difficult to properly ensure the specifications of each application. Injective reversed this traditional model, creating the first custom protocol for DeFi multi-chain applications.
Currently, after introducing extremely many collaborations with projects on the cryptocurrency market, Injective decided to go a step further and rebrand for even greater usability. The rebranding is that from now on there are two main goals guided by the INJ community. The first is to make it possible for everyone to create and trade unlimited DeFi markets. On the other hand, the second is to facilitate, or even allow developers to create DApp compatible with the Ethereum cross-chain via the Injective protocol, which is specially adapted for DeFi.
The perfect combination of these two goals is to open the door to development and a further way forward, because, as is well known, Injective is a pioneer in the field of DeFi economy and its future. Thanks to this, it is also intended to significantly accelerate the adoption of DeFi.
In addition to the technical part, Injective decided to improve the graphic design, which will better fit the current goals.