Injective Protocol Integrates Apollo 1st Bullish Multi Sig
The Injective Protocol is undoubtedly on a clear mission as its growth spree takes over the blockchain industry with surprises left, right and center. While its native token, INJ, has seen exponential rallies with and without the help of Bitcoin, many cryptocurrency users and investors are wondering just how high it can go.
Innovative partnerships and integrations were seen as the most recent focus of the Injective Protocol, many of which were registered back-to-back in the previous week. Apollo is now here with unique extra layers of security. How does this culminate in the rise of the INJ?
Injective deploys Apollo Safe To Mainnet
in recent high announcement, Apollo Safe is said to have been successfully integrated and deployed on the Injective Mainnet blockchain. This is great news for INJ users and the entire blockchain ecosystem as innovative security measures come to the fore to combat the hacks and exploits prevalent in the space.
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To better understand this, Apollo Safe is a decentralized multi-sig protocol fully powered by CosmWasm smart contracts. For the first time, Apollo Safe is launched on the Injective blockchain mainnet, bringing an extra layer of security through its powerful smart contract enabled multi-sig protocol.
As we all know, the sole purpose of decentralization is to give authority to users to fully control and manage personal assets and funds without intermediaries or third-party centralized systems.
While this is good, it has also resulted in various hackers creating means to exploit users by stealing personal private keys or finding a way to get into users’ wallets to drain assets.
Apollo closes this security gap by introducing a multi-sig wallet to protect users using decentralized applications and wallets. But what is a multi-sig wallet?
A multi-sig wallet is a digital user wallet controlled and operated by two or multiple signature addresses. It requires multiple user private keys to allow access to a single user wallet.
This innovation eliminates the fear of users losing their assets if a personal wallet is compromised or a private key is stolen. In order for a hacker or private key thief to fully drain a user’s wallet, he will need to have the private keys of the various signatories to that user account.
The Apollo multi-sig wallet on the Injective protocol adds an extra layer of security and user protection by notifying other signatories to confirm and verify transactions before funds are approved for transfer or release.
Why is this bullish news for the INJ token?
Cryptocurrency users are always on the move, looking for scalable blockchain networks with additional layers of security to protect their digital assets.
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With the innovation of the Injective Protocol and the deployment of Apollo, we could see an influx of users into the INJ ecosystem in the coming weeks. This will drive the growth of the ecosystem and the rise of the INJ token.
INJ token slight retracement | Source: INJUSD on TradingView
Featured image from Istock, charts from TradingView.com