TOKI and XION’s Integration Creates the First IBC Connection Between Cosmos and BNB Chain Ecosystems, Enabling Chain Abstraction
Inter-Blockchain Communication (IBC) is the most reliable and successful interoperability communication protocol available, with trust minimization as one of its most important properties. As a widely adopted standard, with strong support from its community, this general-purpose messaging protocol is constantly expanding into a wide range of ecosystems.
TOKI and XION are partnering up to establish the first Chain Abstraction solution between the BNB Chain and XION ecosystem to enable frictionless cross-chain applications and user fluidity. This will be made possible by the first IBC connection between the BNB chain and the XION ecosystem.
A Groundbreaking Partnership
TOKI and XION are joining forces to pioneer the first Chain Abstraction solution to the BNB Chain ecosystem. This partnership will foster the first IBC connection between the Cosmos ecosystem and the BNB Chain.
XION, in collaboration with Nomos, recently launched its first Chain Abstraction integration with the Injective ecosystem, which enabled users to create an account on XION and begin using an Injective application instantly without needing to grapple with complexities such as cross-chain bridging, browser plugins, seed phrases, and more. The integration between TOKI and XION aims to facilitate seamless interoperability to additional ecosystems, opening new avenues for builders and users alike.
This integration seeks to synergize the unique strengths of TOKI and XION to enhance user adoption across ecosystems. TOKI will contribute its robust IBC modules equipped with a multi-prover security model, encompassing TEE, MPC (Multi-Party Computation), and ZK technologies, and will also develop ICA/ICS running on ibc-solidity.
On the other hand, XION aims to make Web3 easier to navigate for all users by abstracting away its inherent complexities. XION’s Generalized Abstraction will enable seamless interactions by combining protocol-level abstractions and the use of smart contract accounts on both the host chain (XION Meta Accounts) and the destination chain.
“We’re very excited to be working with the TOKI team to further advance cross-ecosystem interoperability through Chain Abstraction. Trustless cross-chain communication is a key part of making this possible, and TOKI is at the forefront of expanding these capabilities,” expressed Burnt Banksy, a core contributor to XION.
This strategic collaboration is set to boost liquidity and unlock a host of innovative cross-ecosystem use cases. It will simplify the onboarding process for users new to crypto, allowing them to interact with powerful on-chain applications without the usual complexities of Web3. Additionally, the collaboration will facilitate the flow of stablecoin assets, potentially integrating various stablecoins, including Japanese-regulated stablecoins, issued by Progmat (backed by USD, EUR, JPY, etc.)
What is TOKI?
TOKI is an IBC-enabled cross-chain bridge that connects Ethereum, BNB Chain, Cosmos, L2, and other major blockchains. TOKI expands IBC to non-Cosmos blockchains by replacing light client verification through its multi-prover approach combining Intel SGX, MPC, and ZK. This approach enables interoperability via IBC securely while keeping the verification at a very low cost.
To learn more about TOKI’s security model and its multi-prover approach, please visit the link below and the recent announcement regarding ZK-IBC leveraging Tendermint X by Succinct.
Moreover, through the collaboration with Progmat and MUFG, Japan’s largest banking group, TOKI is enabling cross-chain transactions with fully regulated stablecoins, compliant with Japanese legislation.
Lastly, TOKI is set to launch a testnet cross-chain bridge app on Ethereum and BNB Chain in the coming months. To stay tuned, follow us on X and join us on Discord!
What is XION?
XION is the first layer 1 blockchain purpose-built for consumer adoption through crypto abstraction. It aims to make Web3 easier to navigate for all users by abstracting away its inherent complexities through Generalized Abstraction. Utilizing protocol-level implementations related to abstracted accounts, signatures, fees, interoperability, and more, XION enables secure, intuitive, and seamless user experiences.
Users can onboard onto XION using familiar Web2 methods like email, creating an account that seamlessly interacts with any application across any device, including desktop and mobile. Users can also enjoy a frictionless experience without the concerns typically associated with blockchain applications, such as gas fees, providing an accessible interface reminiscent of traditional Web2 platforms.
XION’s Chain Abstraction further enhances blockchain usability by seamlessly connecting users, apps, and liquidity across ecosystems, allowing XION to serve as an extension to all major blockchain networks. This is made possible through the combination of smart contract accounts on both the host chain (XION Meta Accounts) and the destination chain. These smart contracts then communicate through the use of IBC, as zero-knowledge state compression proofs are created via on-chain light clients and passed permissionlessly via decentralized relayers to the destination chain. This enables new users to onboard onto connected blockchains, utilize the strengths of those networks, and push them further toward mass adoption.
CONCLUSION
The partnership between TOKI and XION represents a significant milestone in the advancement of cross-chain interoperability and user adoption in the Web3 ecosystem. By establishing the first Chain Abstraction solution between the BNB Chain and XION ecosystem, this collaboration will enable frictionless cross-chain applications and user fluidity, powered by the first IBC connection between Cosmos and BNB Chain.
Both projects recognize and focus on some of the key pillars that will drive the adoption of the technology and bring Web3 into the mainstream: security and user experience. As TOKI and XION continue to push the boundaries of interoperability and user-centric design, their collaboration sets the stage for increased ease of use and adoption of Web3.
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