Inter-Blockchain Communication Protocol (IBC)

Launched by the Interchain Foundation, the Inter-Blockchain Communication Protocol (IBC) is an open-source blockchain that enables cross-chain interactions and allows blockchains to trustlessly communicate with each other to exchange data, messages, and tokens.

Built by a global community of developers, the IBC Protocol includes hundreds of independent developers that contribute; its design allows for compatibility with any blockchain that implements the necessary interfaces, regardless of consensus mechanism. The IBC Protocol’s light client-based interoperability removes the need for a trusted third party in cross-chain interactions and is the standard for Cosmos-based blockchains.

IBC is built on a set of modular abstractions, consisting of two main layers: the TAO (Transport, Authentication, Ordering) layer, which establishes secure connections and verifies data between blockchains; and the Application layer, which defines how data packets are interpreted and used by each chain. IBC Clients identify and verify the ledger of the counterparty, while IBC Core assists in the transfer of authenticated data between chains.