We have received incredible support from the community since launching the Crypto.org Chain. To further develop and empower the chain, we have started the community governance voting process to enable Inter-Blockchain Communication Protocol (IBC) transfers.
What is IBC?
The Inter-Blockchain Communication Protocol (IBC) enables self-sovereign blockchains to connect and build strong network ecosystems, with the goal of ending ‘network tribalism’. It aligns with one of the Crypto.org Chain’s primary focuses, which is to create an open ecosystem that welcomes and is supported by innovative projects in the Payment, DeFi, and NFT space.
IBC bridges blockchains to facilitate communication and feature exchanges between networks with different infrastructure designs and consensus algorithms. This upgrade will unlock huge potential and create new capabilities for future cross-chain implementations of the Crypto.org Chain and other IBC-enabled chains.
The proposal allows for the transferring and receiving of assets using the ICS20 standard on the Crypto.org Chain Mainnet. If it passes, IBC assets will be available in the Bank module of the Crypto.org Chain, and CRO on other IBC-enabled chains, such as Cosmos and IRISnet, with more to come. These chains will then be able to transfer assets cross-chain based on the IBC protocol.
How can I prepare?
The parameters will be updated automatically in runtime after the proposal passes, as it is a parameter change governance proposal.
- Validators and full node hosts need to upgrade to the latest chain-maind binany. Otherwise, there is no action required.
- Explorer hosts and other application developers should note that there will be IBC transactions and IBC assets in the Bank module. Please make sure that the application supports the ICS20 standard token and its denominations to avoid potential UX confusion.
The 14-day voting period has begun and will end on 1 May 2021 at 05:09:30 UTC. We highly encourage all Crypto.org Chain validators/delegators to cast their votes.
How do I vote?
We have started an on-chain parameter change governance proposal 2 and would like to invite you to participate in the voting process.
You can check the proposal by:
- Using ‘chain-maind`
Kindly vote by:
- Using ‘chain-maind`
- Using Desktop Wallet
- Download the latest Crypto.org Chain Desktop Wallet Beta v0.2.0;
- Select Governance;
- Choose #2 Enabling IBC on the Crypto.org Chain Mainnet;
- Cast your vote.
- You can check the voting result by:
chain-maind q gov tally 2 --node https://mainnet.crypto.org:26657
chain-maind q gov votes 2 --node https://mainnet.crypto.org:26657
Join our Crypto.org Chain Discord channel to stay in touch with our team and connect with the community.
For more information, developer tools, ecosystem development information, and (in the near future) network governance matters, please visit crypto.org or reach out to us at [email protected]