51 min
#10 POT: The Cryptocurrency Podcast - Interchain: Building The Internet of Blockchains Proof of Talk: The Cryptocurrency Podcast
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- Investing
Interchain Foundation are pioneering the development of tools and protocols that enable blockchains to communicate and interact with each other. They have been instrumental of the development of the Cosmos.
Managing Director Maria Gomez and IBC Product Lead Susannah Evans explain the bigger vision and inner workings of Interchain.
The need for interoperability has never been more critical. The Interchain Foundation's work, particularly through innovations like the Inter-Blockchain Communication (IBC) protocol and Cosmos SDK, is setting new standards for how decentralized networks can operate in harmony, paving the way for a truly interconnected blockchain ecosystem.
Interchain's believes the future of blockchain technology lies not in a monolithic structure but in a diverse and interconnected network of blockchains. The foundation is providing the tools and protocols necessary for creating a decentralized web of blockchains that can interact without central intermediaries, in a safe and efficient way.
Inter-Blockchain Communication (IBC) Protocol
At the heart of Interchain's toolkit is the IBC protocol, a standard for interoperability that enables secure and reliable communication between different blockchains. By allowing data and assets to be transferred across chains, IBC opens up a world of possibilities for cross-chain applications and services, enhancing liquidity and enabling more complex decentralized applications (DApps) that can leverage the strengths of multiple blockchains.
What makes the IBC protocol unique, is the concept of Light Clients. Unlike bridges, which are known to have been exploited in the past, Light Clients operate by basically copying a very "light" version of Blockchain A's state, on Blockchain B and vice-versa. This means that transactions and data transfers need to be verified on both state machines before they can take place. This is a massive bonus for security as well as scalability.
The IBC protocol works as a mailman. The transport layer is concerned with delivering the post, and the authentication layer makes sure that there is a delivery and return address on the message. The protocol is completely agnostic to the data sent, and it's up to the receiving chain to acknowledge and do something with that data.
There are currently hundreds of interconnected chains on Cosmos, and the more the ecosystem grows, the more desirable the idea of being part of the internet of blockchains becomes.
Cosmos SDK
The Cosmos SDK serves as a foundational framework for building blockchain applications with an emphasis on modularity. This set of tools allows developers to create blockchains tailored to specific use cases by selecting and implementing only the necessary components. The SDK's design principles prioritize flexibility and ease of use, empowering developers to bring their blockchain visions to life with greater efficiency.
Interoperability, Scalability, and Security
Looking to the future, the Interchain Foundation recognizes the evolving challenges and opportunities in the blockchain space. Interoperability remains a key focus, with ongoing efforts to enhance the IBC protocol and expand its adoption across a wider range of blockchains. It's a non-trivial task for a chain to integrate the IBC protocol but the team is hopeful that with increased adoption, new and existing chains will begin participate in the Internet of Blockchains.
Interchain Website [https://interchain.io/]
This podcast is fueled by Aesir, an Algorithmic cryptocurrency Trading Platform that I helped develop over the last 2 years that offers a unique set of features.
Aesir Website [https://aesircrypto.com/]
Aesir Discord [https://discord.gg/vUSRJfRUw6]
Interchain Foundation are pioneering the development of tools and protocols that enable blockchains to communicate and interact with each other. They have been instrumental of the development of the Cosmos.
Managing Director Maria Gomez and IBC Product Lead Susannah Evans explain the bigger vision and inner workings of Interchain.
The need for interoperability has never been more critical. The Interchain Foundation's work, particularly through innovations like the Inter-Blockchain Communication (IBC) protocol and Cosmos SDK, is setting new standards for how decentralized networks can operate in harmony, paving the way for a truly interconnected blockchain ecosystem.
Interchain's believes the future of blockchain technology lies not in a monolithic structure but in a diverse and interconnected network of blockchains. The foundation is providing the tools and protocols necessary for creating a decentralized web of blockchains that can interact without central intermediaries, in a safe and efficient way.
Inter-Blockchain Communication (IBC) Protocol
At the heart of Interchain's toolkit is the IBC protocol, a standard for interoperability that enables secure and reliable communication between different blockchains. By allowing data and assets to be transferred across chains, IBC opens up a world of possibilities for cross-chain applications and services, enhancing liquidity and enabling more complex decentralized applications (DApps) that can leverage the strengths of multiple blockchains.
What makes the IBC protocol unique, is the concept of Light Clients. Unlike bridges, which are known to have been exploited in the past, Light Clients operate by basically copying a very "light" version of Blockchain A's state, on Blockchain B and vice-versa. This means that transactions and data transfers need to be verified on both state machines before they can take place. This is a massive bonus for security as well as scalability.
The IBC protocol works as a mailman. The transport layer is concerned with delivering the post, and the authentication layer makes sure that there is a delivery and return address on the message. The protocol is completely agnostic to the data sent, and it's up to the receiving chain to acknowledge and do something with that data.
There are currently hundreds of interconnected chains on Cosmos, and the more the ecosystem grows, the more desirable the idea of being part of the internet of blockchains becomes.
Cosmos SDK
The Cosmos SDK serves as a foundational framework for building blockchain applications with an emphasis on modularity. This set of tools allows developers to create blockchains tailored to specific use cases by selecting and implementing only the necessary components. The SDK's design principles prioritize flexibility and ease of use, empowering developers to bring their blockchain visions to life with greater efficiency.
Interoperability, Scalability, and Security
Looking to the future, the Interchain Foundation recognizes the evolving challenges and opportunities in the blockchain space. Interoperability remains a key focus, with ongoing efforts to enhance the IBC protocol and expand its adoption across a wider range of blockchains. It's a non-trivial task for a chain to integrate the IBC protocol but the team is hopeful that with increased adoption, new and existing chains will begin participate in the Internet of Blockchains.
Interchain Website [https://interchain.io/]
This podcast is fueled by Aesir, an Algorithmic cryptocurrency Trading Platform that I helped develop over the last 2 years that offers a unique set of features.
Aesir Website [https://aesircrypto.com/]
Aesir Discord [https://discord.gg/vUSRJfRUw6]
51 min