Picasso Network, in collaboration with Composable Foundation has announced that the Inter-Blockchain Communication Protocol will be integrated with Ethereum.
You can also find out more about the following: integration Transferring assets and data from Ethereum to other Ethereum-based platforms is possible.ETHThe Cosmos Ecosystem facilitates cross-chain interaction.
By connecting Ethereum and Cosmos through IBC We are paving the way for DeFi’s next chapter by naming Osmosis our primary liquidity hub,” said Henry Love.
It aims at improving the safety of bridge operations, as well as expanding the options for liquidity and innovation within blockchain networks. These goals align with those set by the team for 2021.
Osmosis was selected to be the main destination of Ethereum assets for the Cosmos Ecosystem. It was chosen based on the role it plays in Cosmos.ATOMIts role as an IBC defi network, its defi offering, liquidity pools, and contribution to IBC volume. This includes the facilitation of over $30 billion trading volume.
Aaron Kong, Growth & Strategy Lead at Osmosis Labs, highlighted the significance of this integration for user experience and functionality within the defi ecosystem.
Integration aims at promoting IBC Everywhere and leveraging IBC’s secure, reliable communication across chains. This approach aims to increase security over centralized solutions for bridges and encourage collaborations between the Ethereum and Cosmos eco-systems.
The Cosmos Hub Community voted in January to keep the ATOM Token’s inflation rate minimum at 0%. This will preserve ATOM value and reduce seller pressure. Nearly 95% of the community voted in favor.
The community previously capped ATOM’s annual inflation rate at 10% in order to keep its value. This had an impact on staking profits. Validators were still profitable despite lower staking returns. They could also adjust their transaction fees in order to cover the costs.
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Source: crypto.news
