- Cosmos-Hub succeeds in the first direct IBC transaction with Ethereum and thus brings the different blockchain networks closer together.
- The Eureka upgrade with IBC-GO V10 increases performance, safety and scalability of Cosmos.
The development team from Cosmos Hub successfully carried out the first direct transaction with Ethereum via Inter-Blockchain Communication (IBC). It is a significant step in blockchain interoperability and enables direct data exchange between the two networks. It is made possible by the Eureka upgrade, which will be introduced with IBC-GO V10 this year. Cosmos wants to establish IBC as a universal standard for blockchain communication-CNF reported.
More effective blockchain connectivity
Maghnus Mareneck, Co-fEo von Cosmos Hub, announced known that his development team successfully carried out the first IBC transaction directly between Cosmos Hub and Ethereum. This achievement is part of the more comprehensive Eureka upgrade, which aims to expand the skills of the IBC protocol.
The IBC protocol, which enables the secure transfer of assets and data exchange between independent blockchains, has been an important function in the Cosmos ecosystem since its activation in March 2021 after the Stargate upgrade.
Since its introduction, IBC has played a decisive role in linking various blockchains within the Cosmos network, including well-known platforms such as Terra, Osmosis and Akash. These integrations have enabled efficient communication and asset transfer between these chains.
The latest test is a significant progress by establishing a direct connection between Cosmos Hub and Ethereum, which is an important development when expanding the range of IBC beyond the Cosmos ecosystem.
Direct transaction simplifies communication between Cosmos and Ethereum by eliminating the dependence on intermediate networks. This improvement increases security, reduces complexity and rationalizes the transfer of assets. With the Eureka upgrade, which is to be introduced this year, the new IBC GO V10 protocol is expected to improve performance, scalability and general connectivity for Cosmos users.
Bridging of different network protocols with cosmos
While this direct IBC connection is new, Cosmos’s earlier efforts had associated with Ethereum and other networks via indirect routes. In April 2024, the Picasso Network successfully enabled an IBC connection between Cosmos and Ethereum.
In the same year Picasso also made a connection between Cosmos and Solana. Before that, Composable Finance played an important role in the connection between Polkadot and Kusama with Cosmos and expanded the interoperability of the network.
The latest direct IBC transaction simplifies cross-chain communication by dealing with intermediate networks. This improvement is in line with the vision of Cosmos to make IBC the leading standard for blockchain connectivity. It is expected that the Eureka upgrade, which IBC-GO V10 will accompany, will further improve the functionality of IBC and strengthen the role of Cosmos in the promotion of secure and scalable cross-chain transactions.
Cosmos is currently being traded at $ 4.79 and has dropped by about 4.79%. Atom is rejected at $ 4.96 and supported at $ 4.77.
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