CosmosDeFiInteroperabilityTechnology

The Internet of Blockchains Is Now Live on Cosmos

After five years of research and development, the industry’s first cross-chain technology, Inter-Blockchain Communication (IBC), is being rolled out onto the Cosmos Hub. 
Internet of Blockchains Comes to Life
Cosmos is a decentralized network composed of multiple independent parallel blockchains, each using the Tendermint BFT, a Proof-of-Stake consensus protocol.
Five years ago, the initial Cosmos white paper envisioned building an internet of interoperable, application-specific blockchains. The idea was to implement the transfer of assets and information between blockchains that were previously isolated from each other. 
Though the document was published in 2016, it was not until March 2019 that the Cosmos mainnet was launched. Still, interoperability among chains had not gone live just yet.
In January, the Cosmos team introduced Stargate, a set of upgrades that enabled the final transition towards the original vision of an “Internet of Blockchains” laid out in the whitepaper. 
Stargate is the phased release of Inter-Blockchain communication (IBC), a protocol that powers blockchains in the Cosmos ecosystem to exchange data and tokens securely. 
“IBC will have a transformative impact on the blockchain space by creating an ecosystem of politically independent chains that can interact via trade and information exchange. Knitting together many different blockchains can form a new crypto-economic system,” Christopher Goes, the lead developer of the IBC protocol, said in a press release.
Today, IBC has officially launched.
The initial version of IBC allows users to kick off token transfers between various chains on the Cosmos Hub. This will be an unprecedented event as, for …
Story continues on Crypto Briefing

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