What is INI?

InitVerse, founded by InitVerse Labs, focuses on developing Web3 business infrastructure. The primary components include INIChain, a public blockchain with a privacy network that uses fully homomorphic encryption and an EVM variant; INISaaS, a platform intended to facilitate decentralized application (DApp) development; INICloud, a decentralized cloud service utilizing the INI token for transactions; and INI Cloud Mining, a platform for mining various proof-of-work coins.

The architecture of InitVerse is built on its native layer, INIChain, designed to offer privacy and efficiency. The total supply cap and governance model details have not been specified in the available information, leaving those aspects unclear. The project aims to support the developer community and enhance Web3 business applications through its range of services.