Injective protocol - Transaction is fast, safe and completely decentralized
About :
Have you ever imagined what the world would be like without Blockchain technology? If you ask me, I want to consider it unimaginable, yes that's true. Should we start from many areas of the economy that rely heavily on blockchain technology for their functions or should we discuss the reliable source of news and cybersecurity that technology has brought to us? for humanity?
Indeed, listing the countless effects that blockchain has created on earth will not be a daily task, so I consider blockchain technology to be our life in this technological age. However, talking about the advantages that it brings to mankind without pointing out its disadvantages will make this article as incomplete as the normal saying that no matter what the advantage, it certainly has. own disadvantages. The same thing with blockchain technology always faces a major security issue
If you take a quick look at the cyber security incidents that have happened in the last 10 years, you'll discover that compromises in today's technology security protocols can be damaging to the point where they can be taken away. people. Your product even if a human. We have seen and heard about many blockchain companies that have used blockchain technologies as unintended.
Even VPN providers cannot boast of network security and good privacy protection. After careful consideration of all the situations surrounding all these issues, I came to the conclusion that no matter how sophisticated the software or service is, it will focus on the nature, then the risk Happening is inevitable.
Grasping the challenges in the project team that created an optimal protocol is Injective, the first resistance layer 2 exchange protocol, which unlocks the full potential of borderless finance by supporting signing transactions. Funds, derivatives and futures.
The injective protocol is an Ethereum based decentralized finance and trading protocol that supports margin trading, derivatives, and futures.
Existing decentralized exchanges are faced with problems such as liquidity, complex user interface, and are somehow centralized in a way.
The injective protocol is being developed to solve the liquidity and high latency decentralized exchanges.
Centralized exchanges have been monopolizing the exchange market for quite along. Even though having a greater share of the market, they turn to not pay heed to some of the challenges and misfortunes suffered by some of their fellows. A critical issue is Security, the architecture of centralized exchanges makes them prone to attack which most often results in loss of funds and trust at the side of the customers.
Perhaps many people ask me why Injective is a project supported by Binance Labs and not others. What a great question I want to hear. We want to tell you that Injective takes advantage of decentralized cryptography and finance to make your trading experience safe. Injective is the only DEX protocol that ensures your transactions against upfront running using Verifiable Delay Function (VDF) and selective latency .. Injective is a very big company with a vision broad, the team always creates more solid steps. fast etc.
An important detail in 2020 is that the project has released a multitasking wallet so that users can access DEX from all platforms using Dapp Injective. These dapps also have the same asset storage function as all major electronic wallets.
By using the Injective wallet, you can prevent the problem of losing or stealing a private key. So even if one of the keys is compromised, money is safe.
Imagine that you create a common 2 in 3 address and then save each private key to a different location or device (for example, mobile phone, laptop and tablet). Even if your mobile device is stolen, the thief will not be able to access her money with just one of the 3 keys. Similarly, phishing attacks and malware infections are less likely to succeed because hackers will most likely have access to a single device and a lock.
Malicious attacks aside, if you lose one of your private keys, she can still access your money using the other 2 keys.
Features of Injective
1.Decentralized Lending/Margin Trading
Injective allows traders to short or long crypto-assets with leverage.
2.Decentralized Futures & Derivatives Markets
In turn, this is a new way to exchange decentralized futures and derivative products
3.We support Ethereum, TrueUSD, Injective, Dai, MKR
…with many more to be announced!
Uses Token Economics
- Stake Based Fee Distribution
- Decentralized Buy-Back Auction
- Market Maker Incentives
- Relayer Incentives
- Sidechain Governance
- Proof of Stake Security
Exchange fees collected from all trading pairs are aggregated monthly into a "basket of tokens" and sold as a batch to the public which can bid on the basket with INJ tokens. To achieve this, we utilize a simple public auction mechanism that repeats every 1 month equivalent of blocks. The Injective coordinator contract aggregates all of the exchange fees collected over the 1 month period and then conducts a two-day public auction.
During the auction, one can bid on the auction by calling the auction contract bid function which transfers the bidder's INJ token amount to the auction contract (which of course can only occur if the bidder has set the necessary ERC-20 approval). At any given point in time, only the current highest bidder will have their INJ tokens locked in the auction contract, thus allowing any bidders who have been outbid to withdraw their funds whenever they so desire. After the auction period elapses, the winner can trigger the disbursement of the accrued funds to their account.
Injective Protocol launches the Bounty program
INJECTIVE PROTOCOL team is holding a 6-week Official Bounty Program to reward its supporters with ETH tokens between June 20, 2020 and July 31, 2020(CST). 30,000 USDT worth ETH will be allocated to the bounty program . This is a great program by the Krypital Bounty team. They are a very prestigious organization and have been successful in many large projects. An excellent team of professional professionals will surely make Injective more known through this Bounty.
Injective is a project that is attracting a lot of investors because not only because of advanced technology but also an extremely astute team, many people have worked in blockchain companies for many years.
One of Injective's investors is: Binance Labs, Matic, Innovating capital, Altonomy, CMS and many other investors.
Injective is a prominent project in 2020 because they have a very good technology. Injective builds many decentralized solutions that investors can develop, one of the preeminent features of Injective is the cross-chain mechanism that acts as a bridge between blockchains and ensures the total number of tokens on. Each blockchain remains static while they are transferred from chain to chain.
Injective's security features apply the same security algorithm that provides several key privacy rights. This is an essential function for many business investors. Projects exist to regain control of your money and transact through their peer customers. You can see your orders posted and matched on sidechains in real time.
TEAM :
Conclude :
Injective is a prestigious project looking at their activities in the community, we can see that by 2020 will certainly be a successful year of the project. The above details are only a small part of the project, I just summarize and evaluate their main points. Follow them via the link below. Thank you . If you are interested please leave a comment and I will answer them all
Get more information about Injective Protocol project here :
Website: https://injectiveprotocol.com
Whitepaper: https://docsend.com/view/zdj4n2d
Twitter: https://www.twitter.com/@InjectiveLabs
Medium: https://medium.com/@tokoin
Linkedin: https://www.dhirubhai.net/company/injective-protocol/
Reddit: https://www.reddit.com/r/injective/
Telegram Chat: https://t.me/joininjective
Bounty link: https://bitcointalk.org/index.php?topic=5256993.0
Writer's profile: Virasend
Profile : https://bitcointalk.org/index.php?action=profile;u=2783298