Datachain Selected for Second Interchain Foundation Subsidy ─ Realizing Interoperability with IBC in a Production Environment

Datachain announced on April 6 that it was selected for a grant from the Interchain Foundation, which promotes the Cosmos/IBC ecosystem

. It is said to be the second time following the adoption in October 2021 for the first time in Japan.

Datachain focuses on interoperability that connects different blockchains, and is working on interoperability using IBC (Inter-blockchain communication), which is widely used mainly in the Cosmos community. .

The grant will be used to improve IBC’s Solidity implementation “IBC-Solidity” for use in production environments (Solidity is the programming language used in the Ethereum blockchain).

Use Case

IBC-Solidity use cases include Ethereum blockchains, EVM (Ethereum Virtual Machine) compatible blockchains (BNB Smart Chain, Polygon, Avalanche, etc.), enterprise Ethereum blockchains (Hyperledger Besu, GoQuorum), etc. However, it will be possible to achieve interoperability between different blockchains using IBC.

As an example, the stable coin issuance and management platform “Progmat Coin” promoted by Mitsubishi UFJ Trust and Banking uses IBC-Solidity to verify interoperability between GoQuorum and Corda. proceeding.

It can also be applied to interconnection between public blockchains and interconnection between public blockchains and enterprise blockchains.

In March, Datachain announced the start of a technical partnership with Mitsubishi UFJ Trust and Banking and Soramitsu to realize mutual transfer and exchange between different stablecoins.

*Cosmos/IBC: Cosmos is an interoperable blockchain network that aims to build the “Internet of Blockchains.” IBC (Inter-blockchain communication) is a specification standard to ensure interoperability between blockchains being developed by the Interchain Foundation and the Cosmos project.
｜Editing: Takayuki Masuda

｜ Top image: From the release

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