A new proposal for cross-chain development of Cosmos, an interoperable high-speed blockchain, has been announced.
Connect cosmos and ethereum
Althea Network, a decentralized mesh internet network for rural communities, announced its “Gravity Bridge” product rolled into one blog entry in this week. The product aims to connect the Ethereum and Cosmos blockchains for the Cosmos Hub (technically referred to as a “bridge”).
“The Gravity Bridge is the safest, most efficient and most decentralized cross-chain bridge to ETH,” said the company.
Althea is proud to announce the Gravity Bridge as the @ethereum <> @cosmos bridge for the Cosmos Hub!
The Gravity Bridge is the safest, most efficient and most decentralized cross-chain bridge to Eth.https: //t.co/XuRbxR1Ug7@interchain_io pic.twitter.com/VVqQAhkPm5
– Althea (@AltheaNetwork) January 19, 2021
Cross-chain bridges are an integral part of the broader crypto and blockchain ecosystem. This is a step ahead one size fits all Narrative of previous blockchains that caused problems with scalability, speed, and subdued growth.
In simple terms, cross-chain products enable blockchains to “talk” and transfer value to one another and exchange assets among themselves. Cosmos was developed with these limitations and advantages in mind: It is a decentralized network of independent parallel blockchains, each based on BFT consensus algorithms such as Tendermint Consensus.
And the gravity bridge helps port them to Ethereum. According to the official announcement, it is a further development of the Peggy Bridge, which was developed itself in cooperation with the Interchain Foundation.
Benefits of gravity
Since Gravity is installed on the Cosmos Hub, its validators will directly participate in the operation of the Gravity Bridge. This itself is backed by billions of dollars of staked ATOM, making Gravity the safest bridge to Ethereum in production (after launch).
Gravity is also designed to be very efficient. The Ethereum contract is heavily optimized to use as little gas as possible and the transactions are stacked. This enables cheap and smooth transactions from Ethereum to Cosmos.
Interoperability is the next feature. “Gravity will be able to bring ERC20 assets from Ethereum into Cosmos, but it will also be able to bring Cosmos assets into Ethereum,” the blog said, adding:
“$ ATOM and all other assets in the Cosmos ecosystem trade on Uniswap and other Ethereum AMMs, which gives these assets a tremendous amount of liquidity and value.”
Meanwhile, Althea said it had already tested Gravity on two testnets and that it would host a testnet with incentives at the end of the first quarter of 2021. “There will be prices available for validators, relays and hackers,” it said.
I wonder who will accept this offer.
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