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On Wednesday, the Interchain Basis, a Swiss non-profit serving as a steward of the Cosmos (ATOM) ecosystem, introduced the launch of Gravity Bridge as constructed by decentralized web service supplier Althea. Gravity Bridge permits the switch of ERC-20 tokens between Ethereum (ETH) and Cosmos blockchains. Throughout its preliminary levels, Gravity Bridge will function as a standalone chain earlier than migrating to Cosmos Hub early subsequent yr. Key technical options embody interchangeable token issuance throughout each chains and the assist of Ethereum to Cosmos oracles.Simpier issued the next assertion concerning the launch:On this interoperable ecosystem, Gravity Bridge’s place is a foundational piece of infrastructure, accessible to all Cosmos chains overtly, purpose-built to replace and iterate rapidly, and facilitate the bridge wants of the chains that work together with it. Open markets and frictionless buying and selling unlock liquidity for all. That is the long run that uplifts all within the Cosmos community and helps the ATOM worth and ecosystem for the Web of Blockchains.Gravity Bridge is dwell!Mainnet was achieved by way of a pioneering decentralized launch. Our due to the groups, validators and neighborhood members now supporting the chain and deploying the entrance finish, pockets integration and different instruments to take GB to the following stage pic.twitter.com/iaQplXMTgu— Gravity Bridge (@gravity_bridge) December 14, 2021
In March, the Inter-Blockchain Communication, or IBC, protocol launched on the Cosmos community, permitting for the communication and switch of digital property throughout completely different blockchains. Since then, there at the moment are over 20 blockchains supporting IBC. Peng Zhong, CEO of Tendermint, the core developer of the Cosmos community, mentioned in an interview with Cointelegraph that he expects to see “about 200 chains related via Cosmos’ IBC subsequent yr.”Billy Rennekamp, Cosmos Hub lead on the Interchain Basis, added:The Stargate improve and launch of IBC was the daybreak of interoperability, now the Gravity Bridge and our collaboration to make sure bridge security with Interchain Safety cement Cosmos Hub because the bedrock for the Web of Blockchains.
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