Injective (INJ), a Layer 1 blockchain based on Cosmos, announced the release of a mainnet update called Flywheel. The update focuses on the integration of a software module focused on real-world assets (RWA) and represents a significant breakthrough in the blockchain industry.
The purpose of this update was determined to provide access to various structured products for both corporate and individual users. Planned products include tokenized fiat currency pairs, treasury bills and private loan products, reflecting the growing market for RWAs.
Although still in its infancy, the RWA market has seen rapid growth. Tokenized securities, in particular, have witnessed rapid growth in value over the past year, with the market size estimated at over $500 million, according to Dune data. According to the statement, Injective aims to benefit from this developing market with the Volan update.
Another important feature of the Flywheel update was announced as the expansion of the inter-blockchain communication (IBC) protocol in Injective. In this way, a better interaction will be possible between Injective and other chains in the Cosmos ecosystem.
“This Injective Flywheel Mainnet update focuses on providing developers with unique native building blocks for next-generation finance applications, while also improving connectivity to other blockchains and applications,” said Eric Chen, CEO of Injective Labs.
*This is not investment advice.
