Cosmos has launched IOBScan to enhance connections between different chains and facilitate seamless interaction.
In Brief
With the introduction of IOBScan, users can now effectively track IBC tokens, various blockchains, communication channels, and relay systems, providing essential insights into their transfer activities.
Decentralized network Cosmos IOBScan has been introduced as a comprehensive inter-chain aggregator, capable of connecting with over sixty blockchains that support IBC. This tool offers a meticulous overview of IBC tokens, blockchains, channels, and relays, allowing users to gain a deeper understanding of their ongoing transfers.
One notable aspect of IOBScan is its account aggregation feature, which simplifies interactions across multiple chains by presenting all addresses associated with the same public key. Furthermore, it boasts an exhaustive Relayer Profile section that showcases the achievements and contributions of service relayers to the interconnected blockchain landscape. Additionally, it offers an application programming interface (API) service that allows users to delve into detailed blockchain data for thorough analysis and smooth integration into their projects.
IOBScan empowers users, service operators, researchers, blockchain projects, and others engaged in the interchain ecosystem with access to detailed, real-time, and accurate information. This capability improves understanding, visibility, and management of cross-chain transactions, significantly assisting in achieving a smoother experience for interoperable future .
What Is Cosmos And IBC Protocol?
Cosmos functions as a decentralized network composed of independent blockchains that run in parallel, each utilizing BFT consensus mechanisms. It offers developers the necessary tools to create interoperable and scalable applications. This network leverages the Inter-Blockchain Communication (IBC) protocol to allow for seamless interactions between blockchains and includes a modular framework that facilitates the creation of custom blockchain solutions.
The IBC protocol is specifically designed to encourage communication among different blockchains. Those that are IBC-compatible can share any form of data, encoded in bytes, which supports a wide range of cross-chain activities within the industry. This protocol lays the groundwork for developing a variety of cross-chain applications, including token transfers, atomic swaps, multi-chain smart contracts, managing accounts across chains, and numerous methods for data and code distribution.
Recently, Cosmos introduced Valence, a novel cross-chain protocol designed to create programmatic relationships among crypto-native entities, termed the Valence Zone. Valence enhances the functions of the IBC protocol by enabling economic agreements, such as modifying treasury compositions according to market shifts or facilitating POL (Proof of Liquidity) lending.
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