COSMOS, a blockchain network that aims to be a “blockchain Internet,” has launched Eureka, a interoperable layer designed to connect the IBC (Inter-Blockchain Communication) protocol with Ethereum.
According to the April 10 announcement, Eureka has expanded the cosmos IBC protocol and changed the IBC to the ecosystem standard “universal interoperability protocol” to set the process to become the hometown of various apps.
The COSMOS project is integrated into IBC Eureka. source: cosmos
With the introduction of EUREKA, IBC extends to Ethereum Network, so many cosmos -based applications and blockchains can access more users. Through the new protocol, developers can build multi -cheein apps across multiple ecosystems without sculpting user base.
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According to this announcement, most projects depend on bridges on interoperability and introduce intermediaries as well as users and liquidity debris. The bridge allows users to simply move assets between the blockchain, and the Eureka promises that developers will provide basic interoperability.
Cosmos Hub Integrated Image. source: cosmos
Cointelegraph contacted Interchain Foundation, the organization of Cosmos, but did not respond to publishing.
IBC Eureka’s operation method
Eureka uses the distribution area so that developers can access all IBC connections, users, liquidity and services without additional infrastructure. Cosmos Hub allows you to access apps, services and assets of ecosystems with users.
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Some initial use cases include the Bitcoin Stay King Protocol Babylon, which can now move the Bitcoin liquid steaking token from Ether Lee to Babylon’s cosmos -based chain. Similarly, distributed Defi Protocol ELYS allows you to deal with the packaged Ether (Weth), WRApped Bitcoin (WHBTC) and USDT (USDT) of Ethereum.
More integration
In the future, developers promise that users will be able to take advantage of Eureka’s multi -chica functions in major distributed exchange (DEX) DYDX. Real-World Asset Tokenization Platform Mantra is also expected to connect capital with Ethereum to the cosmos-based real estate market, staking infrasture and power Defi applications.
According to the announcement, IBC, an upgrade of Eureka, has promoted a maximum of $ 3 billion in more than 115 blockchains every month since its launch. Nevertheless, integration was far from the smoothness of the blockchain, not part of the cosmos ecosystem.
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