IBC Eureka extends the second version of the BlockChain Inter-Blockchain Communication (IBC) protocol to provide a fast, affordable connection between Ethereum and Cosmos to support IBC routing using Cosmos Hub. Ethereum is now the first non-CoSMOS network to participate in the IBC ecosystem. Eureka developers will be adding networks such as Solana, Base, and Arbitrum in the future.
The system is designed to reduce transmission costs, including gas and relay fees, from Ethereum to Cosmos to under $1. According to Barry Plunkett, CO-CEO of Interchain Labs, IBC Eureka represents a dramatic improvement in the security and programmability of cross-chain communications. This allows Ethereum and Cosmos developers to build a new class of applications that combine liquidity and protocols that have historically been fragmented across multiple chains.
Among the first projects included in Eureka IBC are decentralized exchange DYDX, the real asset-centric L1 blockchain mantra, the Bitcoin Lombard Rikid Staking Protocol, and the Bitcoin Babylon Staking Protocol.
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