"An open and interoperable bridge between Ethereum and Cosmos has long
been a shared vision of a fully connected Interchain," said Althea CEO
Deborah Simpier.
On Wednesday, the Interchain Foundation, a Swiss non-profit serving as a steward of the Cosmos (ATOM)
ecosystem, announced the launch of Gravity Bridge as built by
decentralized internet service provider Althea. Gravity Bridge enables
the transfer of ERC-20 tokens between Ethereum (ETH)
and Cosmos blockchains. During its initial stages, Gravity Bridge will
operate as a standalone chain before migrating to Cosmos Hub early next
year. Key technical features include interchangeable token issuance
across both chains and the support of Ethereum to Cosmos oracles.
Simpier issued the following statement regarding the launch:
In
this interoperable ecosystem, Gravity Bridge’s place is a foundational
piece of infrastructure, available to all Cosmos chains openly,
purpose-built to update and iterate quickly, and facilitate the bridge
needs of the chains that interact with it. Open markets and frictionless
trading unlock liquidity for all. This is the future that uplifts all
in the Cosmos network and supports the ATOM value and ecosystem for the
Internet of Blockchains.
In March, the Inter-Blockchain Communication, or IBC, protocol
launched on the Cosmos network, allowing for the communication and
transfer of digital assets across different blockchains. Since then,
there are now over 20 blockchains supporting IBC. Peng Zhong, CEO of
Tendermint, the core developer of the Cosmos network, said in an interview with Cointelegraph that he expects to see "about 200 chains connected through Cosmos’ IBC next year."
Billy Rennekamp, Cosmos Hub lead at the Interchain Foundation, added:
The
Stargate upgrade and release of IBC was the dawn of interoperability,
now the Gravity Bridge and our collaboration to ensure bridge safety
with Interchain Security cement Cosmos Hub as the bedrock for the
Internet of Blockchains.
source link : https://cointelegraph.com/news/gravity-bridge-brings-ethereum-to-the-multichain
