PANews reported on April 10th that according to The Block, Interchain Labs has launched a new bridging product called IBC Eureka, designed to connect Ethereum and Cosmos blockchain systems. IBC Eureka is expanded based on version 2 of the inter-blockchain communication (IBC) protocol, utilizing ATOM from Cosmos Hub to support IBC routing, thereby enabling fast and low-cost connections between Ethereum and Cosmos. Ethereum is now the first non-Cosmos network to join the IBC ecosystem. Eureka developers plan to add networks like Solana, Base, and Arbitrum in the future. The system aims to reduce the transfer cost from Ethereum to Cosmos (including gas fees and relay fees) to less than $1. The first projects to join IBC Eureka include decentralized exchange dYdX, Layer 1 blockchain MANTRA focused on real-world assets, liquid staking protocol Lombard, and Bitcoin staking protocol Babylon.
Interchain Labs Launches IBC Eureka to Connect Ethereum to the Cosmos Ecosystem
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