Hassan Maishera
On Tuesday, the Injective team announced via X that the Injective contributors coordinated an accelerated network upgrade that took longer than initially expected to complete across all validators and ecosystem infrastructure.
The team noted that the Injective blockchain and INJ remained secure throughout the process. The underlying protocol and consensus were not compromised, user and staked funds remain safe, and the chain continued processing transactions.
Given the accelerated nature of the upgrade, some validators were temporarily jailed after being unable to upgrade within the required window, resulting in a temporary decline in displayed network stake.
Some exchanges also temporarily disabled deposits and withdrawals while updating their nodes.
However, no staked $INJ were lost or at risk, and we are working directly with validators and exchanges as they complete the upgrade process.
The accelerated upgrade followed an exploit affecting a small number of ecosystem applications operating binary options markets.
Injective assured users that the incident was isolated to those applications and did not exploit the Injective blockchain, protocol, native assets, or consensus. The relevant attack vector has since been contained and patched.
Injective also provides a next-generation, highly interoperable smart contract platform based on Wasm 2.0, with advanced interchain capabilities. Injective utilizes a custom implementation of the Tendermint Proof-of-Stake consensus mechanism, providing instant transaction finality with lightning speed – sub-second block times (0.6s) while sustaining enormous throughput (25,000+ TPS). Injective is currently also leading new forms of innovation across a number of verticals, such as its pioneering work to integrate artificial intelligence with on-chain finance.
Injective has achieved a historic milestone of over 1 billion transactions to date, with one of the fastest chains built to date. The Injective ecosystem includes 100+ projects and over 500,000 community members globally. Injective was originally incubated by Binance and is also backed by a group of prominent investors, including Pantera Capital, Jump Crypto, and Mark Cuban.
Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $4.86, up 1% in the last 24 hours.
