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BulgarianInterchain Foundation announced the launch of Gravity Bridge, a decentralized internet service provider enabling the transfer of Ethereum (ETH) and Cosmos (ATOM) tokens. The service provides a mechanism for transferring tokens from one blockchain to another by using the Cosmos Network oracles as a middleman.
Gravity Bridge is being developed by Althea in partnership with the Interchain Foundation. The project is designed to help build a bridge between the two networks that would allow cross-chain transactions on an atomic basis. To achieve this, Althea has partnered with Cosmos Hub to provide an interface for the interchain transfer of tokens from Ethereum to Cosmos. Althea’s Gravity Bridge is based on the Althea Plasma network and is designed to enable interoperability between the Cosmos and Ethereum blockchains.
“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” Simpier stated.
In March, the Inter-Blockchain Communication protocol was launched on the Cosmos Network, enabling the communication and transfer of digital assets across different blockchains. IBC is now supported by 20 blockchains, and it’s expected to expand rapidly as more platforms become available.
In March, the Inter-Blockchain Communication protocol was launched on the Cosmos Network, enabling the communication and transfer of digital assets across different blockchains. IBC is now supported by 20 blockchains, and it’s expected to expand rapidly as more platforms become available.
