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Blockchain Drama: Cosmos and Ethereum’s Awkward First Date

BBG News

So, Cosmos, the self-proclaimed “internet of blockchains,” just launched Eureka. No, not the moment you realize you’ve been pronouncing “quinoa” wrong your entire life. This Eureka is an interoperability layer designed to connect its IBC protocol with Ethereum. Because, apparently, blockchains can’t just text each other like normal people. 🤷‍♀️

According to an April 10 announcement (because blockchain news always sounds more official with a date), Eureka has upgraded the Cosmos IBC protocol from an ecosystem standard to a “universal interoperability protocol.” Translation: Cosmos is now the overachieving kid in the blockchain class, aiming to be the home of multichain apps. 🏠

With Eureka, Cosmos-based apps and blockchains are now accessible to more users by expanding IBC to Ethereum. Developers can now build multichain apps across multiple ecosystems without fragmenting the user base. Because nothing says “innovation” like avoiding a messy breakup. 💔

The announcement also pointed out that most projects rely on bridges for interoperability, which introduces intermediaries and fragments users and liquidity. But with Eureka, developers promise native interoperability. Because who needs a bridge when you can just teleport? 🚀

CryptoMoon tried to get a comment from the Interchain Foundation, the organization behind Cosmos, but got ghosted. Typical. 👻

How IBC Eureka Works (Because You Asked)

Eureka uses a distribution zone that lets developers access all IBC connections, users, liquidity, and services without needing extra infrastructure. The Cosmos Hub also allows users to access apps, services, and assets across included ecosystems. It’s like a blockchain buffet, but without the awkward small talk. 🍽️

Some early use cases include Bitcoin staking protocol Babylon, where users can now transfer Bitcoin liquid staking tokens from Ethereum to Babylon’s Cosmos-based chain. Similarly, DeFi protocol Elys will enable trading with Wrapped Ether (WETH), Wrapped Bitcoin (WBTC), and USDt (USDT) from Ethereum. Because wrapping things makes them better, right? 🎁

More Integrations Coming (Because Why Stop Now?)

In the future, developers promise that users will be able to leverage Eureka-powered multichain features in major DEX dYdX. Real-world asset tokenization platform Mantra will also reportedly bridge capital from Ethereum into Cosmos-based real-estate markets, staking infrastructure, and permissioned DeFi applications. Because nothing screams “future” like tokenized real estate. 🏡

According to the announcement, IBC — which Eureka upgrades — has facilitated an average of up to $3 billion in transaction volume among more than 115 blockchains every month since its launch. But, of course, the integration wasn’t seamless for blockchains outside the Cosmos ecosystem. Because perfection is overrated. 😅

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2025-04-10 17:15

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