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The Cosmos team took to Twitter on April 6 to share more about IBC-Solidity. The team announced that IBC (Inter-Blockchain Communication) would be expanding to other blockchains like Ethereum. In detail, the Solidity implementation of IBC aims to connect Ethereum to Cosmos.
1/ 2023 is the year that #IBC will expand to new blockchains, including #Ethereum@datachain_en, an @interchain_io granted team, is working on IBC-Solidity.
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) April 6, 2023
The Solidity implementation of IBC aims to connect Ethereum to #Cosmos ⚛️ pic.twitter.com/tPVD6lnl6v
By using IBC-Solidity, it will now be possible to facilitate the transfer of messages, tokens, and data across a variety of blockchains. This includes blockchains like Ethereum, EVM-compatible blockchains, and Enterprise Ethereum.
The Twitter post also added that by being EVM-compatible, IBC-Solidity can also be used to connect chains like BSC, Polygon, and Avalanche. In addition to this, IBC-Solidity can then be utilized in cross-chain bridges to connect these public chains.
Despite this announcement from yesterday, Cosmos (ATOM) is currently one of the cryptocurrencies trading in the red. CoinMarketCap indicates that ATOM is now worth about $10.97 after a 3.48% price decrease over the last day. The crypto also reached a high of $11.59 over the same time period.
Looking at the altcoin’s weekly performance, it is clear that the crypto still has a bit of work to do to creep back in the green zone as ATOM is down by just more than 1% over the last seven days. At the moment, ATM’s 24-hour trading volume is in the green and stands at $160,896,454 after a more than 12% increase since yesterday.
Its market cap of $3,138,919,550 means that ATOM is currently ranked as the 22nd biggest crypto in terms of market capitalization.
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