Gravity Bridge brings Ethereum to multi-chain

On Wednesday, the Swiss non-profit organization Interchain Foundation (atom) Ecosystem, announced the launch of Gravity Bridge built by decentralized Internet service provider Althea. Gravity Bridge supports the transfer of ERC-20 tokens between Ethereum (Ethereum) And the Cosmos blockchain. In the initial stage, Gravity Bridge will operate as an independent chain and then migrate to the Cosmos Hub early next year.Its key technical features include cross-chain and interchangeable token issuance Ethereum’s support for the Cosmos oracle.

Simpier issued the following statement regarding this release:

In this interoperable ecosystem, the location of Gravity Bridge is a fundamental part of the infrastructure, which is available for public use by all Cosmos chains, dedicated to rapid updates and iterations, and promotes the bridge requirements of the chains that interact with it. Open markets and frictionless trading release liquidity for everyone. This is the future of ATOM value and ecosystem that enhances the entire Cosmos network and supports the blockchain Internet.

In March, the Inter-Blockchain Communication (IBC) protocol was launched on the Cosmos network, allowing the communication and transfer of digital assets across different blockchains. There are now more than 20 blockchains supporting IBC. Zhong Peng, CEO of Tendermint, the core developer of the Cosmos network, Said in the interview In collaboration with Cointelegraph, he expects that “about 200 chains will be connected through Cosmos’ IBC next year.”

Billy Rennekamp, ??head of the Cosmos Hub of the Interchain Foundation, added:

The Stargate upgrade and the release of IBC are the dawn of interoperability. It is now Gravity Bridge and our cooperation to ensure bridge security. Interchain Security uses Cosmos Hub as the cornerstone of the blockchain Internet.