Cosmos recently announced Polkadot meeting the Interchain. The network has used IBC by Composable Finance to complete the process.
According to the official tweet by Cosmos, Polkadot is using the Centauri bridge, the highest standard of blockchain interoperability. Developed by Composable FInance, the bridge connects every Cosmos chain with the Substrate ecosystem.
The Inteer-Blockchain Communication protocol, also called IBC, was previously exclusively available on Cosmos. However, Composable Finance has expanded its reach across multiple L1 blockchain networks.
Its goal is to develop an efficient, secure, and connected crypto landscape for developers and end users. That is why the platform has now released cross-ecosystem trustless functionality. Centauri by Composable is now available on Picasso, the Kusama parachain.
With the launch, Composable has established the first-of-its-kind trustless connection between Kusama, Cosmos, and Polkadot. The milestone marks a grand achievement that reduces the risks associated with cross-chain functionalities and transactions.
Now, users are allowed to freely move their assets across different ecosystems in a secure way. Composable Finance has removed the need for third-party solutions to facilitate transfers or to partake in cross-chain prospects.
The IBC connections shared across the ecosystems allow any of the 46+ IBC-compatible Cosmos chains to facilitate trustless transfers with 80+ Kusama and Polkadot parachains. The goal behind the move is to unify users, functionality, and liquidity of Cosmos, Polkadot, and Kusama without mediators.
Composable Finance has named the bridge Centauri as it represents the first portal across the trustless cross-ecosystem in DeFi. Ahmad Wehbi, the COO of Composable Finance, talked about the development as well.
According to Wehbi, the success of the Cosmos connection was achieved by a collaboration between collective vision and effort. The talented team at Notion DAO, the Interchain Foundation, and Strangelove are among the key contributors to this milestone.
Source: https://www.cryptonewsz.com/polkadot-uses-ibc-by-composable-finance/