Cosmos Announces Beginning Of Interchain Age


As a result of the voting of the Cosmos (ATOM) community today, Interchain-Blockchain Communication (IBC) supported transactions were paved. The ATOM price rose more than 10% within a few hours after the vote ended.

The proposal, presented under the title Proposal 41 for the IBC, was accepted as a result of the voting in which more than 1,500 validators participated today.

The IBC, whose foundation was laid in 2016, came to life in February of this year. With the voting held today, it will be possible to switch between IBC-compliant blockchains.

“Transfer between blockchains”

Users will now be able to switch from any blockchain to Cosmos and vice versa as long as it is compatible with IBC. Designed to bring different blockchains together in Cosmos Hub, IBC was introduced as the “beginning of the inter-blockchains era” for Cosmos.

The Cosmos community gave the green light for the Gravity DEX with another vote held on March 17th. Users will be able to trade with IBC parities on this exchange, and the tokens here will be transferred to Cosmos Hub with IBC transfers. Tendermint CEO Peng Zhong described this compliance as a “historic moment.”

ATOM, which gained almost 10% after the voting, is traded on Coinbase Pro at $ 20,478 at the time of writing.


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