Decentralized network Cosmos introduced IOBScan, an inter-chain aggregator designed to integrate with more than sixty IBC-supported blockchains. IOBScan enables detailed tracking of IBC tokens, blockchains, channels, and relays, offering users comprehensive insights into transfer progress.
IOBScan features account aggregation capabilities, offering an overview of all addresses linked to the same public key to streamline multi-chain interactions. Additionally, it includes a comprehensive Relayer Profile feature that highlights service relayers’ accomplishments and contributions to the interchain ecosystem. IOBScan also provides an application programming interface (API) service. It allows users to access detailed blockchain data for analysis and smooth integration of the information into their projects.
IOBScan enables users, service providers, researchers, blockchain projects, and participants in interchain ecosystems to leverage comprehensive, real-time, and precise data. This capability enhances comprehension, visibility, and management of cross-chain activities, fostering progress towards an interoperable future.
What Is Cosmos And IBC Protocol?
Cosmos operates as a decentralized network comprising independent parallel blockchains, each employing BFT consensus algorithms. It provides developers with tools to build interoperable and scalable applications. The network utilizes the Inter-Blockchain Communication (IBC) protocol for seamless blockchain interaction and features a modular framework that supports the creation of customized blockchains.
IBC is a protocol designed to facilitate communication between blockchains. Blockchains that support IBC can exchange data of any type encoded in bytes, enabling cross-chain interactions across the industry. This protocol serves as a foundation for developing diverse cross-chain applications such as token transfers, atomic swaps, multi-chain smart contracts, cross-chain account management, and various forms of data and code sharding.
Recently, Cosmos launched Valence, a cross-chain protocol that facilitates programmatic relationships between crypto-native entities, referred to as the Valence Zone. Valence extends the capabilities of the IBC protocol by enabling economic agreements, such as adjusting treasury compositions based on market conditions or facilitating POL lending.
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