$INIT
Initia (INIT), a new blockchain project, immediately captured attention after being officially listed on Binance, the world's largest cryptocurrency exchange. Binance's announcement to start trading INIT on April 24 had a significant impact on the price of the cryptocurrency asset.
According to reports from several sources citing dailyhodl.com, the price of INIT surged sharply. In just a few hours, the price soared from US$ 0.605 to US$ 0.921, before slightly correcting to US$ 0.88. Overall, INIT recorded an increase of more than 40 percent within 24 hours.
So, what exactly is Initia? Initia is a layer-1 blockchain platform designed to simplify the process for developers to build blockchain-based applications. Its main innovation lies in streamlining the rollup creation process, a technology that accelerates blockchain transactions. Developers no longer need to spend time selecting and combining various components, allowing them to focus on application development.
"With our approach, developers can concentrate immediately on building, developing, and releasing their applications," said a representative of Initia.
Built using Cosmos SDK, Initia allows flexibility with options for virtual machines like EVM, MoveVM, or WasmVM. This architecture is designed to enhance interoperability between networks. Another standout feature is "Enshrined Liquidity," which allows LP tokens to be used for staking while also providing liquidity, addressing a common dilemma in proof-of-stake networks.
Before its full listing on Binance, INIT was introduced through the Binance Launchpool program. The listing on Binance further strengthens Initia's position as a new competitor to be reckoned with in the blockchain world. The latest data from Coingecko shows that the price of Initia is at US$ 0.822, reflecting a 10.5 percent increase in the last 24 hours.