Picasso Network is currently ready to use Ethereum’s Inter-Blockchain Communication (IBC) protocol. Transferring assets and data between Ethereum and all Cosmos network nodes is made easier by it, greatly boosting communication between different blockchains.
Henry Love, executive director of the Composable Foundation, asserted, “We are setting the stage for a new chapter in DeFi by connecting Ethereum with Cosmos through IBC and designating Osmosis as the primary liquidity hub.”
Enhancing this integration and providing a higher level of security compared to traditional bridge building techniques while establishing a shared platform for collaboration among Ethereum and Cosmos community members.
Osmosis, one of Cosmos’ most important DeFi nodes, has been chosen as the main Ethereum asset transfer destination because of its large IBC transaction volume, DeFi structure, and liquidity pools.
