Datachain Receives a Grant from the Interchain Foundation
Datachain has been awarded a grant from the Interchain Foundation to enable interoperability for the public and permissioned Ethereum blockchains through Inter-Blockchain Communication(IBC). Datachain is the first Japanese grant recipient.
With the funding, Datachain will implement an IBC module called IBC-Solidity. This module enables interoperability between public and permissioned Ethereum blockchains and other heterogeneous ledgers such as Hyperledger Fabric, Hyperledger Besu, Corda and Tendermint. IBC-Solidity is one of the core components of Hyperledger Lab YUI, which implements the IBC modules to enable interoperability on various blockchain platforms with IBC protocol.
For more information about IBC-Solidity, please visit the link below.
https://github.com/hyperledger-labs/yui-ibc-solidity
Below are the lists of the core team for this grant:
- Jun Kimura: https://github.com/bluele
- Masanori Yoshida: https://github.com/siburu
Cosmos’ IBC is emerging as the industry-standard protocol for inter-blockchain communication: an end-to-end, connection-oriented, stateful protocol for reliable, ordered, and authenticated communication between heterogeneous blockchains arranged in an unknown and dynamic topology. The protocol realizes this by specifying a set of data structures, abstractions, and semantics that can be implemented by any distributed ledger, providing they satisfy a small set of requirements. IBC can be used to build a wide range of cross-chain applications, which include token transfers, atomic swaps, multi-chain smart contracts (with or without mutually comprehensible VMs), and data & code sharding of various kinds.
What is the Interchain Foundation and Cosmos?
The Interchain Foundation is a non-profit organization funding and pushing the frontiers of blockchain-related infrastructure, with a particular focus on the Cosmos Network. The Cosmos Network is a decentralized network of independent, scalable, and interoperable blockchains, creating the foundation for the open, scalable, and interconnected economy of the future. Before Cosmos, blockchains were siloed and unable to communicate with each other. They were hard to build and could only handle a small number of transactions per second. Cosmos solves these problems with a vision to build the internet of blockchains: The Interchain.
The Cosmos community comprises builders of;
- Cosmos SDK - a developer-friendly, modular framework, allowing developers to fully customize their decentralized applications and focus on business logic. A state-of-the-art blockchain framework, Cosmos SDK has been used in the Binance Chain used by Binance DEX, one of the world's largest decentralized exchanges, Terra and Kava for issuing stable tokens, and Line Plus Corporation, a subsidiary of Line Corporation, its blockchain platform for CBDC (Central Bank Digital Currency).
- Tendermint Core - a groundbreaking, Byzantine-fault tolerant consensus protocol
- Inter-Blockchain Communication Protocol (IBC)
For more information about Interchain Foundation and Cosmos, please visit the following links:
- Interchain Foundation: https://interchain.io/
- Cosmos: https://cosmos.network/
What is the Hyperledger Lab YUI?
YUI is a Hyperledger Lab to achieve interoperability between multiple heterogeneous blockchain platforms through IBC. As YUI adopts IBC, it enables different blockchains to communicate with each other without trust in any third-party intermediaries.
YUI supports not only Ethereum and Hyperledger Besu, the targets of this grant, but other major enterprise blockchains such as Hyperledger Fabric and Corda.
For more information about Hyperledger Lab YUI, please visit the link below.
https://github.com/hyperledger-labs/yui-docs
Future Plans
After implementing the IBC-Solidity module, we are considering connecting Ethereum and Cosmos with the module. Subsequently, we will also enable EVM-compatible blockchains such as Binance Smart Chain to interoperate with other blockchains through IBC.
With the Interchain Foundation's grant, Datachain will work closely with the Cosmos community to expand the functionality and usage of YUI, and ultimately, the Cosmos ecosystem.