The need for interoperability is increasing along with the demand for various blockchain-based Web3 technologies. The only solution to this is cross-chain bridges. The various cryptocurrencies and associated networks, such as Bitcoin, Ethereum, Avalanche, Polygon, Solana, and Arbitrum, use various blockchain technologies.
Cross-chain bridges, also known as blockchain bridges, simply help these chains exchange value. Think of a cross-chain bridge like a regular bridge. They simply help you move from one platform to another. But, in this case, we are moving things from one platform (Cosmos) to another (Ethereum).
You can use bridges to exchange information, tokens, and NFTs. But the sole advantage of these bridges is that they create a globally available and interoperable financial system. As stated earlier, there are different chains. However, not all of them are compatible with each other.
So, we have different articles showing you the best bridges for some chains. However, this article explains two of the top bridges for Cosmos. If you are a Cosmos lover, you’ll find this piece very insightful.
StellaSwap
StellaSwap claims to offer easy access to all things DeFi. It is the first DEX to support bridging from Cosmos (ATOM) to Moonbeam. You can use StellaSwap to:
- Swap
- Earn
- Yield farm
- Bridge assets
- Explore new projects
- Participate in NFT trading
More cross-chain expansion with the inclusion of @cosmos chains! šš„
13 Cosmos chains to be exact. 1-click swaps to simplify #DeFi. Enough said š
Let's go: https://t.co/pusJ2Qp2mRhttps://t.co/AZoNTJD9ac pic.twitter.com/xkuzLVLsqW
— StellaSwap āļø- V3 is Live #MoonbeamIgnite (@StellaSwap) February 24, 2023
This article shows you how to bridge ATOM with StellaSwap.
IBC
Independent blockchains can directly connect and transact in assets thanks to the Inter-Blockchain Communication Protocol (IBC). IBC is a technology that enables trustless communication between independent blockchains. Furthermore, IBC is a key component of Cosmos and is currently primarily used by blockchains in the Cosmos ecosystem.
IBC features two layers:
- The baseālevel TAO (transport, authentication, and ordering) layer.
- The APPlication layer, built on top of TAO. The TAO layer is mainly responsible for the operations of IBC.
IBC/TAO operate via smart contracts used on each of the chains and link via IBC. The chains send information as data packets through a permissionless relay layer. Then, the packets are forwarded in the same order they were sent to the target chain.
UsingĀ connection and channel abstraction, the relayer transfers the outcomes of a smart contract from the sender’s TAO module to the TAO module on the receiving blockchain. Finally, an on-chain light client that verifies that the provided states truly exist on the sending blockchain authenticates the received data.
IBC promotes interoperability for chains in the Cosmos ecosystem. It achieves blockchain sovereignty without isolation. And this is a huge part of Cosmos.
Any of these bridges will be useful if you plan to bridge Cosmos. The ATOM token currently trades at $10.70.
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