Cosmos Stargate Upgrade Enables Cross-Chain Transfers

Cosmos’s Inter-Blockchain Communication (IBC) protocol, released last Thursday as part of the network’s so-called Stargate upgrade, enables token and data transfer across Cosmos-based blockchains.

With the launch, Cosmos goal of creating a universe of interconnected blockchains can now become a reality. Over $6B in value, of which $2.8B comes from the Terra blockchain, can now move freely across chains built with the Cosmos SDK, according to Tendermint, core contributor to the Cosmos Network 

To transfer value across chains, one blockchain signals a locked token to another blockchain, which will then issue a de facto voucher for the locked token. 

THORChain, itself a blockchain built on the Cosmos SDK, another project which will enable cross-chain swaps between non-Cosmos chains including  Bitcoin, Ethereum and Polkadot, will launch a mainnet in the coming weeks according to DeFi investor Daniel Cheung.

Get smarter on DeFi and Web3

Get the 5-minute free newsletter keeping 60K+ crypto innovators in the loop.

No spam. Unsubscribe anytime.

Trending Now

Celsius Defies Fear of Implosion as Token Soars 218%
Solana Labs Has About 10 People Working on Its Saga Mobile Phone
Crypto Markets Sustain Rally After Monster Rate Hike

Recent Jobs