Cosmos
$4.21
has introduced Eureka, a new tool meant to link its blockchain system with Ethereum
$1,562.65
.
The feature builds on Cosmos’ existing Inter-Blockchain Communication (IBC) protocol and is designed to make it easier for different blockchain networks to work together.
Announced on April 10, Eureka expands IBC from being a Cosmos-specific tool to one that can connect with Ethereum. This gives developers more freedom to create apps that run across multiple blockchains.
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One of the main problems Eureka tries to solve is the issue with blockchain bridges. These are often used to move assets between blockchains, but they add extra steps and can split users and funds across different networks.
Eureka takes a different approach by offering direct connections between systems, which makes it easier for developers to build cross-chain apps and for users to access them without relying on third-party bridges.
Eureka includes a distribution zone, which acts as a single place where developers can reach all IBC-linked networks. Cosmos Hub users also benefit from this setup by being able to tap into apps and assets from various connected networks through one platform.
Cosmos says the IBC protocol has already seen regular use, with over $3 billion in transactions each month across more than 115 blockchains.
Meanwhile, Starknet, an Ethereum-based Layer 2 network, recently announced plans to bridge Bitcoin and Ethereum. How? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
