TechFlow news, according to the official blog, Binance Labs has announced an investment in Initia, a Layer 1 project in the Cosmos ecosystem. The funding amount has not been disclosed and will be used to support the development of Initia's infrastructure and developer tools.
Initia is a Layer 1 built on Cosmos. Although Initia is developed using the Cosmos Software Development Kit (SDK), it will utilize MoveVM, a computational framework based on the Move smart contract language. It also features application-specific Layer 2 chains leveraging optimistic Rollup technology. Through Initia’s architecture—which includes Layer 1, Layer 2, and a communication layer—developers can easily launch application-specific blockchains based on Initia’s L2 without needing to understand complex chain-level infrastructure or operate validator sets.
The project is still under development on testnet.
