Blockchains are distributed ledgers that store information in blocks and join them together. As of today there are more than 100 public blockchains in the market with many functioning in siloes. It’s the main problem Inter-Blockchain Communication (IBC) protocols are trying to solve.
IBC is a standard interoperability protocol that allows two or more blockchains to communicate. It’s the ability for 2 contracts in different blockchain to communicate. It can also be define as a general purpose message passing protocol, which means that any form of data can be sent and received from one chain to another IBC.
There is currently no standard for IBC protocol and blockchain interoperability represents the biggest gap in the industry. In 2021, the Cosmos ecosystem developed and implemented their IBC solution across the Cosmos Network. IBC solves Web3 connectivity for blockchains like TCP/IP solves Web2 connectivity for computers.
Antelope’s Inter-Blockchain Communication (IBC) solution is provided as a suite of smart contracts: IBC Bridge and IBC Token. The core contract in this suite is the IBC Bridge contract, which establishes the actual connection between two blockchains. IBC Token is a complete inter-chain asset transfer, built on IBC Brige. Any eosio.token compatible asset can be securely transferred between two Antelope blockchains. Antelope’s IBC is trustless and aims to connect Antelope chains like EOS, WAX, TELOS, UX and more.
Antelope’s IBC solution also comes with Instant Finality (IF) feature which fixes the issue of having to wait 3 min on EOS to confirm message irreversibility.
An IBC application protocol like Antelope IBC or Cosmos IBC can be used to build a wide range of cross-chain applications not limited to token transfers, NFT transfers, data feeds etc. Initiatives such as Yield+ on EOS or AMM protocol on UX can leverage Antelope IBC to bring greater user experience to DeFi projects.
Antelope's IBC has been deployed and it’s now Live on EOS & UX Network. If you want to learn more about Antelope’s IBC, Check out the documentation. It explains how the smart contracts that implement the Antelope IBC infrastructure work, how Antelope blockchains can integrate them and how developers can use them.
You may also want to Check out about some funding opportunities available to projects building on EOS blockchain or any Antelope chain .
To deep dive into horizontal scaling on EOS, visit: https://eosnetwork.com/blog/antelope-ibc-deep-dive-seamless-horizontal-scaling-launches-on-eos/
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