Inter-Blockchain Communication (IBC) Protocol
Hello! Hello!
How’s your pre-weekend going ? Is it just me or all of you are also thinking of taking a long weekend😅. Let me know in comments section.
Coming back to our topic, in last blog, “Type and Problems of Blockchain” , we discussed the different type of blockchains like Layer1 and Layer 2 and there major problem of not being able to interact with other blockchain.
This inability to interact with other blockchain really put user in a position where he has to choose between trustlessness, security, and multiple accounts for every blockchain or the comfort from the existing ones.
We all know that user will always choose their comfort over security and trustlessness. No one likes to maintain multiple things.
Copy trading bots from the top traders. Try it for FREE.
To solve this many developers and builders started to build protocols that can help people solve this problem. The most famous and exponentially growing protocol of them is IBC protocol.
So what is this IBC ? 🤔 How is it solving the problem of interoperability ?
IBC stands for Inter-Blockchain Communication protocol.
It is a protocol for communicating arbitrary data between arbitrary state machines.
IBC is general purpose message passing protocol, in simple terms any form of data can be sent and received using IBC.
Isn’t it amazing to have a complete protocol dedicated to only Interoperability ?
Now if you are a developer like me, you will be curious like how does this protocol work. So, here we go 🚀 .
Working of IBC ⚙️
IBC has two layers that makes everything work.
1] Transport Layer
2] Application Layer
Transport Layer 🚗
It provides the necessary infrastructure to establish secure connections and authenticate data packets between chains. This layer is responsible for Transporting the IBC packets between the chains.
Handling the TRANSPORT, AUTHENTICATION and ORDERING, this layer is also known TAO layer.
Application Layer 🛠️
This layer defines how the data packets that are going to be transferred should be packed while sending and interpreted when received.
Application layer can be used to build a wide range of cross-chain applications, including but not limited to token transfers, interchain accounts (delegate calls between two chains), non-fungible token transfers and oracle data feeds.
So what do you guys think about IBC ?? Ain’t it amazing ??
It surely has made me curious and I am gonna explore it more.
I have read somewhere that one of the major protocol is already building on top of this and it’s very damn interesting .
Lookout for my next blog “Which things are being built on top of the IBC ?”.
That’s all for today.
See you in next blog.
Thanks for reading
- SSP
Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing
