Injective Launches Gas Compression to Compress On-Chain Transaction Costs to Near Zero

Layer 1 blockchain Injective has announced the launch of Gas Compression, which aims to compress the cost of on-chain transactions (including activities such as pledging, trading on dApps, lending, minting NFTs, voting on governance proposals, etc.) to near zero. The team says that the nominal cost per transaction on its platform is just 0.00001 INJ or $0.0003, and that casting 1,000 NFTs on its chain, for example, costs just $0.30, which is more than 100 times less than the cost of ethereum and 500 per cent less than the cost of a chain such as Polygon.