What is Initia (INIT)? Project 68 on Binance Launchpool

Initia has just launched its testnet and immediately became the focal point of the community, due to the technology combining Cosmos and the MoveVM virtual machine. So, what is Initia? Let's explore the Initia project through the following article.

What is Initia?

Initia is an infrastructure blockchain project, consisting of Layer 1 blockchain - Initia and Layer 2 blockchain - Minitia. The purpose of Initia is to leverage layer 2 technology and the infrastructure of layer 1 to create a highly scalable blockchain with fast transaction speed and good security.

Additionally, Initia developing both layer 1 and layer 2 networks aims to unify the user experience, reducing the “fragmentation" in multi-chain environments, such as using various tokens to pay for gas, with each network having different bridges...

How Initia Works

According to the project team, the model of Initia follows a modular blockchain approach, including the following main components:

Layer 1 Blockchain - Initia: The foundational network layer, providing infrastructure, security, and liquidity for the entire Initia ecosystem and the layer 2 - Minitia. At the same time, Initia also acts as the Consensus layer for the entire Initia ecosystem.

Layer 2 Blockchain - Minitia: This is the layer 2 network layer built on Initia, tasked with increasing transaction speed and throughput for Initia. Additionally, Minitia is highly compatible with various virtual machines, from MoveVM, WasmVM to EVM.

OPinit Stack: This is a toolkit that allows developers to easily build layer 2 solutions on Initia. The standout feature of the OPinit Stack toolkit is that the Initia team combines the scalability of CosmosSDK with the off-chain Optimistic Rollup solution.