Seoul, South Korea--(Newsfile Corp. - April 26, 2022) - The decentralized cross-chain capital markets protocol developed on Cosmos Network, Konstellation has announced the opening of the IBC Channel between Konstellation and Cosmos.
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IBC or Inter-Blockchain Communication is a protocol that allows sovereign blockchains on the Cosmos ecosystem to communicate and transfer data between themselves.. IBC channel set and relayer running between two chains are needed for IBC transactions. Once the channel is created, users can send "Packets" between chains that contain application data.
Before opening an IBC channel for Gravity Bridge, Konstellation had already been connected with Cosmos and Osmosis. Now upon the launch of the IBC channel with Cosmos, users can trade ATOM<>DARC in Cosmos with only 0.3% now, which cost 0.3+0.2% before.
The status of all IBC Channels can be checked using Map of Zones. It's an explorer that allows users to visualize all IBC enabled chains and their transfers. Using Map of Zones, users can access IBC related statistics for all integrated IBCs in a single place.
One of the important metrics to understand about IBC is transfers, which refers to both in and out transfers. Users can also see the number of IBC transfers separately within 24 hours. Here are some of the details of the IBC bridge between Konstellation and other chains.
Following the creation of this channel, users can now trade ATOM-DARC pairs at 0.2% lower than before in Cosmos.
Konstellation is a decentralized cross-chain capital markets protocol built on the Cosmos network. The project is aimed to efficiently connect funds and the various components of the asset management industries with investors. Konstellation's mission is to become the financial services industry hub for Cosmos and other blockchain ecosystems using strategic inter-operable blockchain communications.
The Konstellation network is powered by DARC tokens, which are required for the Konstellation network's governance and transactions. Powered by features such as cross-chain infrastructure, a simplified interface, high composability, and effortless cross-chain DeFi usability, Konstellation is making headway in achieving its vision.
Tarek Al Fakih
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121525