A new Gravity Bridge product to connect Ethereum (ETH) and Cosmos (ATOM)

A new Gravity Bridge product to connect Ethereum (ETH) and Cosmos (ATOM)
фото показано с : invezz.com

2021-1-22 13:45

Interoperability has been a dream of the blockchain industry for years, and now, there are finally some promising solutions. The latest one is the so-called Gravity Bridge product, expected to connect Cosmos (ATOM) and Ethereum (ETH) blockchains.

Details about Gravity Bridge

The new proposal for cross-chain development was announced by a decentralized mesh internet network for rural communities, known as Althea Network. The goal is to create the Cosmos Hub by bridging the gap between two blockchains.

Althea is proud to announce the Gravity Bridge a @ethereum <> @cosmos bridge for the Cosmos Hub!
Backed by billions of dollars of Atoms staked, the Gravity Bridge is the most secure, efficient, and decentralized cross chain bridge to Eth.https://t.co/XuRbxR1Ug7@interchain_io pic.twitter.com/VVqQAhkPm5

— Althea (@AltheaNetwork) January 19, 2021

Cosmos blockchain is well-known for being high-speed and interoperable, while Ethereum remains the biggest development platform in the crypto industry. The project is already backed by billions of dollars in staked ATOM tokens, and it is said that it is the most efficient and secure decentralized bridge to Ethereum.

After Gravity is installed, Cosmos Hub’s validators will be able to participate directly in the bridge’s operations. The bridge is said to be extremely efficient, which is actually due to Ethereum’s smart contracts. With the contracts being optimized to use only small amounts of gas, with batched transactions — the two blockchains will be able to use the bridge for cheap and frictionless transactions.

After that, the project will aim to bring ERC-20 tokens from Ethereum to Cosmos, thus improving interoperability. The reverse will also be possible, of course. Gravity was already tested on two testnets, with the incentivized testnet expected to emerge later in Q1 2021.

Cross-chain bridges are crucial for advancements in crypto

The crypto and blockchain industries are developing at a rapid speed, and cross-chain bridges are integral to boost this development. Earlier blockchains attempted to be singular solutions for all of the crypto industry’s needs, which led to major speed and scalability issues.

With cross-chain bridges, every blockchain will be free to pursue its own goals while being a part of a network that will allow users to switch between different chains as per need.

The post A new Gravity Bridge product to connect Ethereum (ETH) and Cosmos (ATOM) appeared first on Invezz.

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Источник: invezz.com

cosmos atom → Результатов: 126


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