All about Cosmos, its latest plans for IBC, and how Ethereum fits the bill

Lowe's blockchain Ethereum IBC

07.04.2023 - 08:49

Reading now: 263

ambcrypto.com:

The blockchain interoperability concept made rounds during the 2021 crypto bull run, and was championed by the likes of the Cosmos network. Unfortunately, they had to pump the brakes when crypto winter came. However, Cosmos is now attempting to revive the hype once again.

Is your portfolio green? Check out the Cosmos Profit Calculator

Cosmos’s latest announcement revealed its intentions to start pushing towards building and expanding an interconnected internet of blockchains again. The network disclosed that it plans to work on the implementation of IBC with solidity, a move that will make it possible for Ethereum [ETH] to be connected to Cosmos.

<p lang=«en» dir=«ltr» xml:lang=«en»>1/ 2023 is the year that #IBC will expand to new blockchains, including #Ethereum@datachain_en, an @interchain_io granted team, is working on IBC-Solidity.

The Solidity implementation of IBC aims to connect Ethereum to #Cosmos ⚛️ pic.twitter.com/tPVD6lnl6v

— Cosmos – Internet of Blockchains ⚛️ (@cosmos) April 6, 2023

Cosmos further noted that IBC-solidity will enable the transfer of data, tokens, and messages to multiple blockchains through IBC. This includes enterprise Ethereum and all the EVM-compatible blockchain networks.

The Ethereum network can be considered as the most popular blockchain and also the most adopted blockchain network at the moment. Additionally, many networks hope to tap into its robust liquidity. This will become much easier to conduct via the IBC as soon as it gets connected to Ethereum. The overall goal is to facilitate a smoother flow of value across different blockchain networks.

Unsurprisingly, the announcement about Ethereum came just a few days after Cosmos revealed its global expansion plans. From a strategic point of