Initia Review: Blockchain combines Layer 1 and Layer 2

June 18, 2024 - Around 6 mins mins to read

Initia is a Cosmos Layer-1 blockchain that, along with the implementation of Optimistic Rollups, resorts to its Minitias toolkit enabling the growth of Dapps into Appchains in line with the Layer-2 concept. Initia is a fully composable platform, and developers can build modular, secure blockchains on it.

Initia Review: Blockchain combines Layer 1 and Layer 2

Table Of Contents

What is Initia?
Main Feature of Initia
Omnitia Architecture
Tokenomics
Team and Investors
Roadmap
Conclusion
FAQs

What is Initia?

Initia brings together both the layer 1 and layer 2 technologies to build very scalable blockchains with all-in-one features. This platform integrates features such as stablecoins, multi-chain bridges, and just-in-time gas, making it very easy to deploy Dapp. It gets rid of the problems brought about by modular and multi-chain systems.

It sustains interactive applications with powerful infrastructure and tools. Optimistic Rollup Technology enables scalable, independent, and operationally less complex applications. Initia is backed by the ecosystem of Cosmo; it customizes economic models and user experience on top of the flexible, user-friendly blockchain ecosystem.

Main Feature of Initia

Minitia: Layer 2 of Initia.
Ultra Performance: Supercharge application performance with Minitia’s block time of approximately 500ms, and transaction capacity of over 10,000 TPS.
Multi-VM: Constructed with smart contract environments through virtual machines such as Move, Solidity, or CosmWasm supported by Initia.
Vertical Integration: Engineer Minitia’s chain stack and supercharge application power using CosmosSDK supplementary modules.
Complete Ownership: Retain control at the core level over ecosystem boundaries such as gas fees, ordering,.
Interoperability: Initia empowers IBC natively for messaging and tokenization of applications across the entire ecosystem.
Omnitia Shared Security: Secure and scale thousands of Minitias using Omnitia Shared Security – a fraud proof verification system.

Omnitia Architecture

Improve execution capability: Modular blockchain contains the principle of task division and uses Layer 2 mechanism and Optimistic Rollups model in processing transactions; thus, it is able to reduce the amount of work that Layer 1 has to do, raise processing capacity, increase the throughput of the blockchain, and more transactions.
Improve data availability without compromising security through Sharding: Through the application of the technology of Sharding, Modular Blockchain rescales the blockchain. It does not do so at the cost of security and decentralization. In essence, Sharding evangelizes the breaking up of the network into self-sustaining sections. This minimizes the possibility of a massive attack as it improves the security of these segments of the network.
Security and Decentralization: Major implementations of modular blockchain use the Proof of Stake mechanism. It makes the network more secure and scalable. PoS attracts users to participate in the network by staking. It results in a much more decent withheld model compared to Proof of Work.
Simpler expansion of the ecosystem: Modular blockchain makes processing data on blockchain applications less complex. Using Layer 2 mechanisms and the Rollups model provide fewer possibilities of facing intricate difficulties relating to the technical aspect.
Flexible and customizable: Completely tweak parameters per chain No fragmentation.
Multi-VM and Cosmos IBC compatible: Move-based smart contracts EVM, WasmVM, MoveVM, Solidity, Rust, Cosmos IBC.
Advanced Layer 2 Optimistic Rollups Faster Cut costs Safe.
Custom App-chains Unique features Consensus methods Interconnected communication layer.
User-friendly: easy Layer 2 App-chains deployment, manage infrastructure, interact seamlessly across multiple Layer 2s without changes to the wallet and without gas fees.

Initia stands out because it offers full customization for every single chain. Due to the flexibility of the Rollups framework combined with the fact that the Modular technology fragmentation is avoided, seamlessness in the user experience is assured by design and product stack.

Tokenomics

Up until now, Initia has made no announcement of any token issuance. CoinCu will update the new news of this project as soon as possible.

Team and Investors

Team

The team behind Initia two Co-Founders Stan Liu and Ezaan Mangalji. However, except for the X accounts of the two Co-Founders, the previous information of these two people is still anonymous.

Investor and partners

Initia has gone through two rounds of capital raising with more than 7.5 million USD raised. As follows:

October 12, 2023: Initia raises Pre-seed capital from Binance Labs. However, the capital call amount has not been specifically announced.
February 27, 2024: Initia has successfully raised $7.5 million in Seed round, led by Delphi Digital fund and Hack VC. Besides, this capital call round also has the participation of funds such as Big Brain Holdings, Nascent, Figment.

Roadmap

Similarly, Initia has published no development roadmap. CoinCu will update as soon as detailed information is made available.

Conclusion

Initia is a Layer-1 blockchain in Cosmos, with a toolkit referred to as Minitias integrated with the use of Optimistic Rollups technology, supporting Dapps to develop into Appchains, according to the Layer-2 model. This allows both Celestia’s DA and Circle’s ability to transfer assets through CCTP, opening up more Scalability for Modular Blockchains.

CoinCu assesses that the enormous support of Binance Labs and Tier1 funds like Delphi and HackVC means the development potential of the project in the future will be huge. At the moment, the project doesn’t show much activity on side chains to help the community. However, you can follow along if you want to participate in running a node or making an airdrop.

FAQs

What technologies does Initia use?

Initia makes use of MoveVM framework, and Move smart contracting language that has also been used by other Layer 1 chains like Aptos, Sui etc. It uses Optimistic rollup technology at Layer 2 solutions

What is Initia’s architecture for?

Hence, what this means is reflected in Initia’s architecture. It looks towards abstracting many of the complexities of the traditional modular and multi-chain systems that make it increasingly easier to build scalable and sovereign blockchain systems. That also makes cross-chain interaction between different Layer 1 and Layer 2 solutions less of a burden

What role does MoveVM framework play in Initia?

MoveVM framework is highly flexible and friendly to the developers while creating smart contracts in Initia. It enhances the functionality of the network and positions itself with other major Layer 1 chains like Aptos and Sui

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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