Starting with the release of Cosmos Stargate
Inter-Blockchain Communication (IBC) has launched with the Cosmos Stargate upgrade on February 18th at 7AM UTC. This is exciting news for the Agoric economy, which is built on Agoric’s Layer-1 chain and connected to Cosmos zones and other networks like Ethereum via the same IBC protocol.
For background, Cosmos Stargate is a set of upgrades that complete the original roadmap laid out in the Cosmos Whitepaper. For the first time ever, Cosmos blockchains will be able to connect with each other using the cross-community developed standardized IBC protocol. The IBC protocol is core to Cosmos’s vision of a vast network of sovereign blockchains all interoperating.
Agoric’s recent demo for UniFi DAO highlighted the use of the Cosmos Ethereum integration, where ETH was locked into a smart contract and brought over to the Agoric environment using Cosmos’s Gravity bridge and the IBC protocol. Any other network utilizing the IBC protocol could benefit from the same Ethereum bridge and bring ETH assets to their chain. This use case is the first of many that will expand the Agoric ecosystem and support cooperation between businesses, developers, institutions, market participants, and beyond.
For developers leveraging Agoric’s fast building environment, the launch of IBC is one of many powerful tools to use in your lending dapp, automated market maker, or project of choice. Here’s to building the future of DeFI 🍻
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