Injective is a Layer 1 blockchain built primarily for applications serving the finance sector. It was developed by Injective Labs, founded by Eric Chen and Albert Chon. Injective’s native token is INJ. This article provides an overview of Injective, how it works, and how to trade it on BtcTurk | Global.
TABLE OF CONTENTS
What is Injective (INJ)? How Does It Work?
The INJ coin project is a Layer 1 blockchain focused on serving financial applications. Injective is governed by INJ token holders. Developers can create decentralized applications on the Injective blockchain.
The Injective blockchain, which operates using the Proof of Stake (PoS) consensus algorithm, is notable for its ability to synchronize assets and smart contracts across multiple blockchains.
What is the INJ Coin?
Injective’s native token is INJ, which operates on the Ethereum blockchain in compliance with the ERC-20 token standard.
The total supply of INJ is limited to 100,000,000 tokens.
How Does the Injective Coin Work?
Sixty percent of the weekly commission fees generated from transactions on applications running on the Injective blockchain are used to buy back and burn INJ tokens from the market.
The INJ token is used to pay transaction fees on the Injective blockchain, vote on governance decisions, and stake to help secure the network. Because it is used for voting, INJ also serves as a governance token.
Key Facts About Injective (INJ)
- Injective was developed by Injective Labs, a company founded in 2018 in the United States.
- Among the company’s founders are Eric Chen and Albert Chon.
- Injective is a decentralized trading platform.
- The total supply of INJ coins is capped at 100,000,000 tokens.
- You can visit Injective’s website at https://injective.com/. For detailed technical information, visit https://docs.injective.network/.
How to Store Injective (INJ)?
NJ is an ERC-20 token. You can manage your INJ balances using desktop, mobile, and hardware wallets that support ERC-20 Ethereum-based assets.
How to Buy and Sell Injective (INJ)?
You can buy and sell Injective (INJ) with Tether (USDT) using the BtcTurk | Global website or mobile app. If you’re not yet a member, you can easily register on our website or app and buy Injective (INJ) by depositing cryptocurrency.
