Independent Review: Injective Protocol "Fully Decentralized"

etherium24 (45)in #ieo • 4 years ago (edited)

Hello everyone would like to greet all of my subscribers a really nice day. For all crypto fans out there looking for something new. Then I'm here again to share with you guys another review for a new project called Injective Protocol. Now as usual I will share first information pertaining to the project technical description and see what are the odds that this project could be a hidden gem in the future. Im sure many of you are excited to hear it already so why waste such time and let's get started.

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INTRODUCTION TO INJECTIVE PROTOCOL

The Injective Protocol according to their technical description is a fast front running resistant layer 2 exchange that have a capability to support borderless finance ecosystem of marginalized trading, derivatives and futures. Wait a second. If they mentioned these aspect of an exchange what comes to your mind? Centralized market right? Since all of these features are heavily popular today however every markets offering these are not decentralized "means there is a central authority" holding your funds that anytime could be gone like a wind. In other words, you are asking someone to take care of your own funds while Injective protocol creating a platform where you hold your coins on your own. Simply to describe decentralization.

Noting it as Decentralized is somehow sweet to most traders out there. I know DEX are being left behind on the dust, by those huge Centralized markets and I cant blame them as liquidity and volumes are not sufficient or enough to bloom a healthy market. However what are the things why Injective Protocol could simply work like a centralize market but keeping its decentralized intact?

Now they have built a protocol that secure all possibilities to vulnerabilities. This protocol are comprises of three major branch called Injective Chain, Injective Exchange and Injective Futures. Remember the term cause likely will used these on my next paragraphs.

INJECTIVE PROTOCOL TECHNOLOGY AND INFRASTRUCTURES

Now incorporating a fully decentralized platform have it pros and cons and solution to that is crucial for such platform to completely deploy appropriate technology to make it as efficient for traders and users. I'll be honest for a dex type market my primarily concern is security and transaction fee. Cause as a trader on centralized market especially using futures derivatives these are my head aches.

If you didn't read yet the Injective Protocol whitepaper: https://docsend.com/view/zdj4n2d
its clearly explained that issues occured on some platform such as Ox Protocol such as trading collision, and even the lack of proper liquidity aggregation was addressed by the team. Anyways lets get down to business. But first we must familiairize ourself with their features:

WHAT IS INJECTIVE CHAIN?

For everyone's information, the injective chain is a brand new layer-2 sidechain and Cosmos Zone ecosystem interconnected with ethereum network. We cant say its a perfect sync and issue such as scalability and untraceable value however Injective protocol have managed to counter it by enforcing a transaction that will be reflected on the chain utilizing Proof Of Elapsed time mechanism. How does it help on dex? Imagine you are using a future trades on centralized market, the configuration of nodes will be more efficient and faster probing external problems such as miner extraceable values that are found on ethereum network.

This injective chain powers the layer 2 platform that will smoothly transfer and trade underlying assets on ethereum network such as erc20 and advanced types. Im not sure on other blockchain asset but as a starter this is not bad as an initial solution for dex type market. But Im sure Injective team will probably make a plan to incorporate it to non erc20 asset to fully implement a strong platform for every chain. If Im remembered correctly cosmos IBC would be launched too however Im not getting my hands busy for that detail anytime soon.

WHAT IS INJECTIVE EXCHANGE?

This is what they called their market platform. but how does this differ from others? If you compared to a centralized market, only few have seen or gain interest on dex type market and thats because of liquidity and volume related. I cant argue with that, but in time Im sure dex will be seen improve and thats why I can see a potential of this project to lead some dex over to conquer and approach the market with full decentralization. What is the advantage of this platform?

Usually traditional exchanges has a heavy fee of course for maintenance and any other miscellaneous needed to wrap up the market but with Injective Protocol, that provides a 100% decentralization, every corner stone of a market will be offer for free such as whole trading interface, infrastructure, smart contracts, to orderbook liquidity, future derivatives and all important paratemers and features. Now liquidity is always an issue for dex right? But injective protocol find a solution by giving off rewards rendered to relayers on the network to keep liquidity flowing resulting to a healthy trading experience also opening to more defi projects that soon will be seen in action as the platform goes live.

WHAT IS INJECTIVE FUTURES?

Im sure you are all aware on future contracts and derivatives. I know this cause Im a Binance Trader of Futures and contracts. Imagine a dex providing a service same with centralized market but is not bounded by its highly cost effect of the exchange? Ive seen some projects in the past to launch this features but somehow still working for a larger contracts. Perpetual swaps, contract for difference and other derivatives are an expensive recipe and the injective protocol will offer us to trade an arbitrary derivative markets with lower fee price. For perpetual traders this us a huge advantage which mostly complained on centralized markets.

MY THOUGHTS ON THIS PROJECT!

Thinking about the features they incorporate is superbly helping the dex market. Not all users are fond of decentralized but their platform approach could somehow makes traders gain interest once again. Also what is interesting on this project is they got pick on Binance Incubator program last year. We all knew how Binance support projects with potential and capabilities to make greatness. If they invest on it or not, still the project have no other choice but to moce forward and now they are resurfacing everybody, I think its time for Injective Protocol to fully release their project. Right now details on tokenomics have not yet seen but Im sure that one of this day they will introduced this and informed to all interested users. For the meantime, what we need is to wait for them to continously develop and improve the platform workability.

Check out this video of the the team.

INJECTIVE PROTOCOL COMMUNITY CAMPAIGN

If you are not aware they launched few days ago a bounty campaign that surely crypto enthusiasts will be interested. Only few projects have generosity to give a 30k USD worth of ethereum rewards for community. As of now it still on going and there are lot of choices to join with. This program will help the project to spread awareness amongst communities about their project and Im very delightedly to share this to all of you.

Check this budget for the campaign and surely everyone could not resist this offer from the company. Now, I think its time to show support on thsi project and if you think you could contribute more then dont hesitate to fill up some interesting task.
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