Cosmos has achieved a significant milestone in blockchain interoperability by successfully executing the first direct Inter-Blockchain Communication (IBC) transaction between Cosmos Hub and Ethereum.
On March 26, Cosmos Hub co-CEO Maghnus Mareneck announced the breakthrough, marking a significant step in the ongoing development of the IBC protocol. This test is part of the upcoming Eureka upgrade, which is set to roll out with IBC-go v10 later this year. The Gaia v23 upgrade will enable IBC v2 and other key components for the upcoming launch of IBC Eureka, which will revolutionize interoperability.
The IBC protocol, first activated in March 2021 following the Stargate upgrade, enables seamless asset and data transfers between independent blockchains. Since its launch, numerous blockchains within the Cosmos ecosystem—such as Terra, Osmosis, and Akash—have integrated IBC to enhance cross-chain connectivity.
While this marks the first direct link between Cosmos Hub and Ethereum, previous indirect connections have already been established. In April 2024, Picasso Network facilitated an IBC bridge between Cosmos and Ethereum, extending it to Solana.
“By connecting Ethereum with Cosmos through IBC and designating Osmosis as the primary liquidity hub, we are setting the stage for a new chapter in DeFi,”
stated Henry Love, Executive Director of the Composable Foundation.
Additionally, Composable Finance has previously linked Polkadot and Kusama to Cosmos. IBC is rightfully regarded and proven to be one of the most efficient and secure methods of cross-chain communication, which has previously only been utilized within Cosmos.
Cosmos is working to establish IBC as a universal communication standard for blockchain interoperability. In related news, Nubank, a major Latin American financial institution backed by Berkshire Hathaway, has expanded its crypto offerings to include Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). This brings Nubank Cripto’s total supported cryptocurrencies to 20 for its 100 million clients in Brazil, alongside existing assets like Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC, and XRP.
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