Datachain received grant from Harmony

Datachain announced this Wednesday, January 12, through its Twitter account, it received a grant from Harmony to build a bridge between Cosmos and Harmony.

Image about Datachain posting on Twitter

Datachain received a grant from Harmony to build a bridge between Cosmos (Tendermint-based blockchain) and Harmony. The bridge will make it possible to move assets in Harmony to IBC-enabled blockchains such as Cosmos, Terra, JUNO and Osmosis and vice versa. With the IBC protocol, the bridge is built using untrusted intermediaries to achieve interoperability”, he said through an article published on the Medium platform.

The company explained that Cosmos is now one of the largest interoperable ecosystems in the world, and IBC is the communication protocol developed by Fundación Cosmos and between chains, which allows several chains to be interconnected. After the launch of IBC in April 2021, it has made great progress. According to Zone Map, there are 27 active chains and more than 3 million IBC transfers in 30 days.

For his part, he indicated that Harmony is one of the last blockchain platforms compatible with EVM. Harmony’s mainnet runs Ethereum applications with a 2-second transaction purpose and 1000x lower fees, as well as secure bridges to Ethereum and other chains. There are an increasing number of Harmony-based apps, such as DeFi Kingdom, Tranquil.finance, Mars Colony, Unite Finance, and Euphoria (fork of Olympus). You can see more at Harmony Universe and Defi Llama.

“Datachain has contributed to the Cosmos community, including the implementation of IBC-Solidity granted by the Interchain Foundation. We are delighted to contribute to the Cosmos and Harmony community by building a bridge between them. The Cosmos <> Harmony bridge will make Harmony connect to Tendermint-based blockchains such as Cosmos, Terra, JUNO, Secret Network, Osmosis, and Akash Network. We believe it will be an important milestone for both ecosystems”, he added.

Also read: Set announced that it is available on Optimism

Scope of this grant

What they achieved:

With the funding, the company highlighted that they would connect the Harmony and Cosmos blockchain (based on Tendermint) through IBC (on a private testnet) and we will transfer the HRC-20 token in Harmony to the Cosmos blockchain. as an ICS-20 token.

What they built:

• Harmony Light client on blockchain based on Tendermint

• Tendermint thin client on Harmony

• Communication module for Harmony, an extension for yui-relayer

• Example of token transfer application

Total
0
Shares
Related Posts