Celo has awarded a grant to staking service supplier Refrain One to construct a bridge facilitating interoperability between the Cosmos and Celo networks.
The proof-based bridge will enable “bidirectional communication’ between Celo and Cosmos, permitting Celo’s cUSD stablecoin to function on the Cosmos community, and Cosmos-based belongings together with ATOM, BAND, and KAVA to be held within the Celo Reserve.
In keeping with a Nov. 19 announcement, the partnership will lay the groundwork for constructing future bridges between Celo and “chains like Polkadot, Close to, and Solana.”
Cosmos can also be working to construct quite a few cross-chain bridges, together with with Ethereum, Polkadot, and Kadena.
The submit notes that work can be break up between two service agreements, and would require the implementation of a “distinctive gentle shopper” on every blockchain.
The Interchain Basis, a non-profit basis shaped to help the event of Cosmos, will fund a WASM-based Mild Consumer to permit Cosmos to confirm Celo transactions with out present process a tough fork.
The Celo Basis may also fund a Tendermint Mild Consumer permitting the Celo blockchain to confirm signatures and block headers created each by Cosmos and Cosmos-SDK-based chains.
Celo’s co-founder Marek Olszewski emphasised his perception that the crypto sector will come to comprise an interoperable ecosystem spanning many blockchain networks:
“We imagine that the trade will not be zero-sum, or winner takes all. In a future with many chains, cooperation is critical to understand our objective of a globally accessible and inclusive monetary system. We view the implementation of cross-chain structure as an act of Mutually Assured Improvement.”
In Could, Refrain One was awarded the same grant by the Web3 Basis to construct points of a bridge enabling interoperability between Substrate and Cosmos-SDK-based blockchains.
Cosmos and Celo usually are not solely networks pursuing interoperability, with Close to launching its Ethereum bridge and Ontology Neo and Switcheo unveiling their “interoperability protocol alliance,” Poly Community, in August.
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