Cosmos launches Eureka to connect Ethereum and IBC networks

Cosmos, a blockchain web aiming to go the “internet of blockchains,” has launched Eureka, an interoperability furniture designed to nexus its inter-blockchain connection (IBC) protocol with Ethereum.

According to an April 10 announcement, Eureka has expanded the Cosmos IBC protocol, changing IBC from an ecosystem modular “to a cosmopolitan interoperability protocol,” mounting the hub connected a people to go the location of multichain apps.

Cosmos projects are integrating into IBC Eureka. Source: Cosmos

With the instauration of Eureka, galore Cosmos-based applications and blockchains are present accessible to much users by expanding IBC to the Ethereum network. With the caller protocol, developers tin reportedly physique multichain apps crossed aggregate ecosystems without fragmenting the idiosyncratic base.

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The announcement said that astir projects rely connected bridges for interoperability, resulting successful the instauration of intermediaries arsenic good arsenic idiosyncratic and liquidity fragmentation. With bridges, users tin simply determination assets betwixt blockchains, portion with Eureka, developers committedness to present autochthonal interoperability.

Cosmos Hub Integration Image. Source: Cosmos

Cointelegraph reached retired to the Interchain Foundation, the enactment down Cosmos, but did not person a effect by publication.

How IBC Eureka works

Eureka relies connected a organisation portion allowing developers to entree each IBC connections, users, liquidity and services without further infrastructure. The Cosmos Hub besides allows users to entree apps, services and assets crossed the included ecosystems.

Related: Cosmos ecosystem rocked by North Korean developer allegations

Some aboriginal usage cases see Bitcoin staking protocol Babylon, whose users volition present beryllium capable to transportation Bitcoin liquid staking tokens from Ethereum to Babylon’s Cosmos-based chain. Similarly, decentralized concern (DeFi) protocol Elys volition alteration trading with Wrapped Ether (WETH), Wrapped Bitcoin (WBTC) and USDt (USDT) from Ethereum.

More integrations coming

In the future, developers committedness that users volition beryllium capable to leverage Eureka-powered multichain features successful large decentralized speech (DEX) dYdX. Real-world plus tokenization level Mantra volition besides reportedly span superior from Ethereum into Cosmos-based real-estate markets, staking infrastructure and permissioned DeFi applications.

According to the announcement, IBC — which Eureka upgrades — has facilitated an mean of up to $3 cardinal successful transaction measurement among much than 115 blockchains each period since its launch. Still, the integration was acold from seamless for blockchains that were not portion of the Cosmos ecosystem.

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