Gravity Bridge Introduces Ethereum To The Multichain

On December 15, one Swiss non-profit that serves as a steward of the Cosmos (ATOM) ecosystem, the Interchain Foundation, confirmed the launch of Gravity Bridge.

The platform was built by Althea, a decentralized internet service provider. Gravity Bridge powers the transfer of ERC-20 tokens between Cosmos and Ethereum blockchains.

In its early stages, Gravity Bridge is set to work as a standalone chain before it shifts to the Cosmos Hub sometime early next year. Its primary technical features include the interchangeable token issuance across both platforms and the full support of Ethereum to Cosmos oracles.

Althea CEO Deborah Simpier stated:

“An open and interoperable bridge between Ethereum and Cosmos has long been a shared vision of a fully connected Interchain. In this interoperable ecosystem, Gravity Bridge’s place is a foundational piece of infrastructure, available to all Cosmos chains openly, purpose-built to update and iterate quickly, and facilitate the bridge needs of the chains that interact with it. Open markets and frictionless trading unlock liquidity for all. This is the future that uplifts all in the Cosmos network and supports the ATOM value and ecosystem for the Internet of Blockchains.”

https://twitter.com/gravity_bridge/status/1470896532257861635

In March 2021, the Inter-Blockchain Communication (IBC) protocol went live on the Cosmos network, enabling communication and transfer of digital assets across the various blockchains. There are more than 20 blockchains that support IBC. The CEO of Tendermint, Peng Zhong, said in an exclusive interview that he believes there will be “about 200 chains connected through Cosmos’ IBC next year.” Tendermint is the core developer of the Cosmos network.

The Cosmos Hub lead at the Interchain Foundation, Billy Rennekamp, said:

“The Stargate upgrade and release of IBC was the dawn of interoperability, now the Gravity Bridge and our collaboration to ensure bridge safety with Interchain Security cement Cosmos Hub as the bedrock for the Internet of Blockchains.”