Ethereum and Cosmos finally come together – Cosmos (ATOM) is an ecosystem of blockchains promoting interoperability. Faced with the rise of DeFi on Ethereum (ETH), it was essential that Cosmos be able to interact with the latter. This is how Gravity Bridge was born, a gateway allowing transfers between the 2 networks.
Gravity Bridge finally deployed on the mainnet
On Wednesday December 15, the teams of Gravity bridge have announcement the deployment of their bridge between Ethereum and Cosmos:
“The deployment on the mainnet is a success. We thank the teams, validators and community members who now support the chain and deploy the front-end, the integration of portfolios and other tools to take GB to the next level. “
In reality, Gravity Bridge is a solution developed by the platform Althea since 2020. After 2 years of development and several months of intensive testing on the testnet, Althea has finally deployed its Gravity Bridge on the mainnet.
Initially, the Gravity Bridge will operate on its own blockchain. However, this one should join the Cosmos ecosystem and join the Cosmos Hub current 2022.
“In this interoperable ecosystem, the place of Gravity Bridge is that of a fundamental piece of infrastructure, openly available for all Cosmos chains, designed to be updated and iterated quickly, and to facilitate chain bridge needs. that interact with it. “
Deborah Simpier, CEO of Althea
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How Gravity Bridge Works
Not surprisingly, Gravity Bridge operates in a relatively common fashion. Indeed, this bridge is composed of 2 main elements:
- One smart contract hosted on Ethereum ;
- One smart contract hosted on Cosmos.
Take the example of a transfer from Ethereum to Cosmos. To begin with, the funds will be blocked on the smart contract deployed on Ethereum. Subsequently, the same amount of funds will be issued by the contract deployed on Cosmos, and the funds will be sent on theaddress provided by the user.
Therefore, this bridge takes advantage of a concept called Tokenization, which aims to issue a token on a given blockchain that represents an asset on another blockchain. This concept has been democratized in particular with the tokenization of BTC on Ethereum.
At the same time, the whole process is secure by a network of actors called relayers. These submit transactions to Ethereum on behalf of Cosmos validators and are rewarded with fees paid by the user.
Cosmos has moved up a gear with the launch of Inter Blockchain Communication (IBC) in 2021. This protocol allows communication between the different blockchains of the Cosmos network. It should interconnect more than 200 blockchains in 2022, according to Peng Zhong, CEO of Tendermint.
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