Coinspeaker
Injective Launches Altaris Upgrade on Mainnet
Injective, a decentralized protocol that facilitates crypto trading across the Ethereum and Polkadot blockchains, has officially launched its new upgrade Altaris on the mainnet.
In a social media post on Thursday, the protocol, which is built on the Cosmos blockchain, revealed that it has begun deploying Altaris on its mainnet to enhance the overall experience for both users and developers building applications on the platform.
Community Support for Altaris
The move comes just days after the protocol’s community members approved the proposal to introduce the new upgrade, which promises to redefine the entire platform with a range of new capabilities.
According to Injective, the Altaris upgrade, also known as the Injective Improvement Proposal 420 (IIP-420), garnered the highest rate of governance participation since the inception of the network. Stakers on the protocol committed more than $1 billion worth of the protocol’s native token INJ in support of the proposed update.
Enhancing Scalability and Performance
The Altaris upgrade aims to enhance the platform’s scalability, increasing its speed and reducing wait times for transactions processed on the chain.
In a blog post accompanying the announcement, Injective stated that Altaris introduces several enhancements designed to boost chain speed and the overall performance of the network.
Injective explained that updates to the network infrastructure, such as improved data processing and enhanced resource management, will create a stronger and more responsive system for users. These combined improvements, according to the protocol, transform the flexibility of chain-level consensus, significantly elevating performance to provide a more streamlined experience for developers.
Injective also disclosed that Altaris will bring optimized network performance for developer tools. According to the blog post, the upgrade will integrate Wasm 2.0, expanding smart contract capabilities for software developers.
Introducing Real-World Asset Oracle
In addition to enhanced developer tools, the upgrade will introduce the first oracle for real-world assets (RWA), aimed at bridging the gap between the traditional finance industry and the crypto economy.
With this oracle, the platform will be able to offer tokenized asset products, ensuring that they come with “accurate and tamper-proof” data.
The upgrade will also focus on improving the protocol’s economic structure. Following the completion of the Altaris upgrade, Injective plans to introduce a new burning mechanism and release Stake Grants to secure partnerships with other chains within the industry.
The new burning mechanism, known as the Universal Burn Auction, will allow developers to create and launch pool auction contracts, enabling community-driven participation in the burn auction process.
Additionally, Injective plans to include its INJ token in the auction basket to promote a more dynamic and deflationary token economy.
