On Wednesday, the Interchain Foundation, a Swiss non-profit organization that acts as the manager of the Cosmos ecosystem (ATOM), announced the launch of the Gravity Bridge built by decentralized Internet service provider Althea. Gravity Bridge enables the transfer of ERC-20 tokens between the (ETH) and Cosmos blockchains. During its initial stages, Gravity Bridge will operate as an independent chain before migrating to the Cosmos Hub early next year. Key technical features include the issuance of exchangeable tokens on both chains and Ethereum’s support of the Cosmos oracles.
Simpier issued the following statement regarding the launch:
In this interoperable ecosystem, the Gravity Bridge site is a critical piece of infrastructure, openly available to all Cosmos chains, specifically designed to rapidly update and iterate, and facilitate the bridging needs of the chains that interact with it. Open markets and frictionless trading unlock liquidity for everyone. This is the future that elevates everyone on the Cosmos network and supports the value and ecosystem of ATOM for the Internet of Blockchains.
Gravity Bridge is live!Mainnet was achieved via a pioneering decentralized launch. Our thanks to the teams, validators and community members now supporting the chain and deploying the front end, wallet integration and other tools to take GB to the next level pic.twitter.com/iaQplXMTgu
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Reference-es.investing.com
