The Cosmos cryptocurrency project has received an update from Stargate that adds a highly anticipated feature – the internal blockchain communication (IBC) protocol.
The Cosmos ecosystem is made up of many blockchains and now, with the Stargate update, these networks can interact with each other as well as with other blockchains. IBC allows you to move tokens between blockchains and exchange data, and certain compatibility conditions must be met to connect third-party blockchains.
Previously, each project created in the Cosmos ecosystem developed its own bridges to interact with other networks. Kava CEO and co-founder Brian Kerr said the developers have spent years and millions of dollars building “bridges of their own,” such as connecting to Binance.
In addition to the IBC integration, the update also focused on performance issues. The developers added support for the Protobuf format, made a more efficient data streaming mechanism and launched the State Sync protocol, which allows nodes to synchronize with the Cosmos blockchain in less than 30 minutes. The ability to automatically update blockchains built on the Cosmos SDK has also been added, and the security of light clients has been improved.
Currently, the Stargate update is activated on the main ecosystem network – Cosmos Hub. Decentralized finance projects are expected to greatly benefit from this update, which will make it much easier to connect to third-party blockchains.
In September, it was reported that the Nym project plans to increase the anonymity of the Cosmos ecosystem and provide users with the ability to exchange data in a confidential manner.
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