Buy Injective (INJ)
What is Injective?
Injective is a layer-1 blockchain designed specifically for decentralized finance (DeFi) applications. It is built to provide an open and interoperable infrastructure that powers next-generation DeFi solutions, including decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more. Injective uses a Proof-of-Stake (PoS) consensus mechanism and aims to deliver fast, secure transactions with low costs and instant transaction finality.
How does Injective work?
Injective operates as a decentralized blockchain that leverages the Cosmos SDK framework and Tendermint-based PoS consensus mechanism. This setup enables high transaction speeds and robust security. It supports advanced smart contracts through CosmWasm and offers cross-chain interoperability, allowing seamless interactions with Ethereum, Solana, and other IBC-enabled blockchains. Injective also features a decentralized MEV-resistant on-chain order book and supports Ethereum-compatible smart contracts.
What are the potential use cases for Injective?
Injective serves multiple use cases, particularly in the DeFi sector. Key applications include:
- DeFi Applications: Facilitating the creation and operation of decentralized trading platforms, lending protocols, and derivatives markets.
- Cross-Chain Interoperability: Enabling asset exchanges across different blockchains.
- Decentralized Exchanges (DEXs): Providing infrastructure for building and trading on decentralized spot and derivative exchanges.
- Staking and Governance: INJ tokens are used for staking and network governance, allowing token holders to vote on important network decisions.
- Data Availability: Developers can leverage Injective for submitting transactions related to data availability on the network.
What is the history of Injective?
Founded in 2018 by Eric Chen and Albert Chon, Injective was initially conceived as a decentralized derivatives exchange addressing common issues like poor liquidity and low transaction speeds. It began as a layer-2 solution on Ethereum but transitioned to a standalone layer-1 blockchain utilizing the Cosmos SDK and Tendermint PoS. Since its launch in November 2021, Injective has secured significant backing from investors like Binance and Pantera Capital, raising over $190 million in funding rounds and evolving into a fully interoperable, zero gas fee blockchain platform.
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Frequently Asked Questions (FAQs)
What is the current price of Injective (INJ)?
The Injective price is $35.37 AUD, representing a +10.79% from the day prior.
Where is the best place to buy Injective (INJ) in Australia?
The best place to buy Injective (INJ) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Injective (INJ) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Injective (INJ)?
The trading volume of Injective (INJ) is $435.7M AUD in the last 24hrs, representing a +10.79% from the day prior.
How can I buy Injective (INJ)?
Injective (INJ) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Injective (INJ)?
The current market cap of Injective (INJ) is $3.5B AUD.
Can I convert Injective (INJ) to cash?
Yes - With Coinstash you can convert your Injective (INJ) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Injective (INJ) are there?
The current circulating supply of Injective (INJ) is 97.7M.
Is Coinstash a safe place to buy Injective (INJ) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Injective (INJ) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.