Cosmos and the Interchain Foundation today handed IBC over to the Linux Foundation’s LF Decentralized Trust.
According to the official website, the cross-chain protocol IBC has officially become an LFDT project, under neutral, open-source governance. Since launching in 2021, IBC has processed over $50 billion in transaction volume across more than 200 networks, with over 500 developers contributing code. The code will remain free and open source, and existing chains and applications can continue using it as usual. Cosmos will remain a maintainer, joined by Datachain and OpenZeppelin. Google Cloud is supporting the effort, with people from institutions such as Wells Fargo and Figure Markets also contributing.
In simple terms, this isn’t a change in technology, but in the governance framework—an effort to make cross-chain interoperability more like an industry standard such as Kubernetes. For banks and institutions connecting to multiple ledgers, a neutral standard is certainly easier to work with than a protocol owned by a single ecosystem.
#IBC #Cosmos
According to the official website, the cross-chain protocol IBC has officially become an LFDT project, under neutral, open-source governance. Since launching in 2021, IBC has processed over $50 billion in transaction volume across more than 200 networks, with over 500 developers contributing code. The code will remain free and open source, and existing chains and applications can continue using it as usual. Cosmos will remain a maintainer, joined by Datachain and OpenZeppelin. Google Cloud is supporting the effort, with people from institutions such as Wells Fargo and Figure Markets also contributing.
In simple terms, this isn’t a change in technology, but in the governance framework—an effort to make cross-chain interoperability more like an industry standard such as Kubernetes. For banks and institutions connecting to multiple ledgers, a neutral standard is certainly easier to work with than a protocol owned by a single ecosystem.
#IBC #Cosmos
