Interchain Labs launches IBC Eureka, connecting ETH to the Cosmos ecosystem

ChainCatcher news, 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 built on the second version of the Inter-Blockchain Communication (IBC) protocol, leveraging Cosmos Hub's ATOM 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 such as Solana, Base, and Arbitrum in the future.

The system aims to reduce the transfer costs from Ethereum to Cosmos (including GAS fees and relay fees) to less than $1. The first projects to access IBC Eureka include the decentralized exchange dYdX, the Layer 1 blockchain MANTRA focused on real-world assets, the Bitcoin liquid staking protocol Lombard, and the Bitcoin staking protocol Babylon.