Cosmos upgrades to Stargate, enhancing blockchain interoperability

Cosmos upgrades to Stargate, enhancing blockchain interoperability

Blockchain ecosystem, Cosmos ATOM-based project has reportedly launched the Stargate update, including the highly awaited IBC (Inter-Blockchain Communication) protocol.

The upgrade further includes significant improvements to the Cosmos protocol along with its SDK (software development kit). Among these upgrades, the most essential is the Inter-Blockchain Communication, Cosmos blockchain’s interoperability layer. This protocol is one of the main elements of the Cosmos insight, enabling trouble-free interoperability between software development kit of Cosmos and other blockchain protocols.

Before the launch of IBC, the networks were operating independently, and the solo projects had to form their own bridges to connect to the broader blockchain network.

CEO & co-founder, Kava, Brian Kerr, stated that the project spent nearly millions of dollars in investment and several years of developer time, mainly to build the custom bridges that are in place today, especially for the Binance ecosystem.

Kerr added that the introduction of IBC will speed up the rate at which the company could add bridges to other Cosmos-software development kit-based blockchains, offer its services, as well as utilize assets as collateral.

Stargate also carries a series of other performance improvements. These improvements include Automatic upgrades, for chains built on the software development kit; State Sync, allowing nodes to synchronize with a blockchain of Cosmos in just 30 minutes or less; support for the Protobuf serialisation format, delivering an effective mechanism for streaming data, as well as enhanced client security which improves connection guarantees of IBC.

Inter-blockchain communication protocol is presently live on the Cosmos hub, which is home to its ATOM token. This hub is an essential component of the Cosmos network, that would allow its blockchains to communicate with one another without the need to form dedicated connections.

Several decentralized finance (DeFi) applications in Cosmos will also benefit from simple interoperability. In fact, with IBC, the blockchains could connect to various key DeFi ecosystems outside of Ethereum, which particularly includes Binance ecosystem.

Other DeFi options include Terra, a stablecoin-centric ecosystem and a privacy-centric blockchain for smart contracts namely Secret Network.

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