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What exactly is IBC, the core component of implementing the Cosmos vision?

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This article Outlines what IBC is, how it works, and why it is important

What you Need to know about IBC

原文来源： Akash 中文社区

Welcome to The IBC 101. In this article, we'll explore together what IBC is, how it works, and why it's important. But why should you care in the first place? IBC is the core component to realize the Cosmos vision and is designed for &NBSP; The Cosmos network supports the claim that it is the "blockchain Internet". Like gravity, IBC will help pull economic value into the growing blockchain, known as Cosmos Hub. So without further ado, let's take a closer look at IBC's unique properties, capabilities, and what happens next. Let's get started.

What is IBC?

IBC stands for Inter-Blockchain Communication. It was developed by IBC contributors such as Tendermint, Interchain Foundation and Agoric Systems as part of the larger Cosmos Network ecosystem. IBC, in its simplest form, connects different blockchains together. Until now, blockchains like Bitcoin, Ethereum, and many others have operated on their own islands, or each blockchain is its own desert island, disconnected from the rest of the world or other blockchains and unable to communicate. It became rather lonely.

The IBC protocol is the carrier of blockchain social networks (communication, exchange of tokens and information). IBC is kind of like TCP on the Internet. Before TCP, the Internet was a collection of independent computer networks that could not communicate well with each other. Along with IP, TCP/IP regulates how data is sent and routed across computer networks. Today, TCP/IP seamlessly underpins the way we consume and enjoy the Internet every day. Likewise, IBC regulates the way blockchain communicates. So Cosmos is often referred to as the "blockchain Internet".

How does IBC work?

每个想要相互通信的区块链都会发送和接收头文件，以保持对验证者集的跟踪。简单地说，他们互相运行一个轻量级的客户端，以跟踪对方的区块链/分类账。当从一个区块链向另一个区块链发送 Token 时， Token 必须首先是：

- There is a pledge (held by trust) in preparation for the transaction (i.e. 100 ATOM);

- Proof must be sent to the receiving blockchain that the Token has been pledged;

- 接收链必须验证 100 个质押的 ATOM Token 的证明；

- 如果证明被验证，100 个 ATOM Token 就会被冻结/担保在原始链上，同时在新链上创建 100 个 ATOM 的「替代品」（例如 Token ）。

To be compatible with IBC, a blockchain must have Fast Finality. Bitcoin and Ethereum, both proof-of-work systems, do not have this capability. Each blockchain must maintain its own set of verifiers. In doing so, the blockchain maintains better interoperability with the application.

Tip: Fast Finality: all transactions are packaged quickly and cannot be undone or changed.

Scaling this solution becomes challenging if multiple blockchains want to communicate with each other. The connection can quickly get out of control. That's where Cosmos Hub comes in. Hubs acts as an aggregator, enabling a single blockchain to communicate with many. The Hub supports blockchain networks or "blockchain Internet".

Why is IBC important?

IBC 是连接主权区块链的 Cosmos 框架的一个关键元素。除了明显的交换 Token 和信息的能力之外，这为网络创造了巨大的价值。与 Tendermint BFT 引擎、Cosmos SDK 和其他工具配合使用，开发人员可以在 Cosmos 网络内部或外部以速度、安全和互操作性扩展区块链。这种多功能性可以有力地激励新的或现有的区块链通过 IBC 协议构建或连接到 Cosmos，从而增加 Cosmos 网络的价值，以及其功能和实用性。

Blockchain integration

除了 Token 转移，IBC 还促进了与 IBC 数据预言机的交互。IBC 兼容的区块链使用此协议来访问 BandChain。

Tip:

- BandChain is a high-performance blockchain built for Data Oracle. Based on Cosmos' state-of-the-art SDK, BandChain allows efficient, flexible and scalable data queries to be protected through cryptography proofs.

- Band Protocol is a cross-chain data predictor platform that aggregates and connects real world data and apis to smart contracts.

BandChain indexes blockchain data from IBC connection sources. BandChain receives information requests and processes transactions accordingly. In simple terms, IBC connects multiple blockchains together, enabling cross-chain queries, data, and analysis. To simplify and extend access to BandChain, StarPort was born. StarPort reduces the learning curve with BandChain and many other aspects of blockchain development.

customized

To be compatible with IBC, the blockchain consensus layer must provide Fast Finality. Proof of Work (PoW) systems such as Bitcoin and Ethereum do not offer Fast Finality. To solve this problem, IBC provides "nails" (PEGs) as an intermediary between the blockchain and Cosmos Hub. Nails will convert the PoW system into a Fast Finality and IBC compliant system. Ethereum in particular has its own nails or Bridges, which we'll discuss later.

IBC and the broader Cosmos network support and enable the construction and networking of sovereign blockchains. While Ethereum supports a wide range of L2 applications/DApps and DeFi, its services are limited by EVM (Ethereum Virtual Machine) and the Ethereum protocol. With Cosmos and IBC, DApps and services make decisions and integrate at L1 to maximize efficiency, security, or scalability to meet the specific needs of a project.

governance

Cosmos 网络构建和维护 IBC 协议。作为 Cosmos 网络的原生 Token ，ATOM 使验证者和委托者能够抵押 ATOM 以保护网络，并作为回报获得新提案的投票资格。对 IBC 协议和 Cosmos 网络其他方面的更改必须在实施之前得到社区的批准。这使任何人都有能力进行质押和/或验证影响项目方向的机会。虽然运行验证者节点需要技术能力，但委托人可以很容易地参与，并且也被强烈鼓励为治理过程做出贡献。

Business support

Osmosis 是第一个 Cosmos 原生链间去中心化交易所或 DEX 和自动做市商或简称 AMM。Osmosis 促进了支持 Cosmos IBC 的 Token 的交易，例如 ATOM、OSMO、AKT、LUNA、UST 等。不仅如此，它还支持 AirDrops、Staking、投票、流动性池和分析。

Tip:

AMM，即自动做市商，是由智能合约持有的流动性池的集合。除了专业团队或机构，每个用户都可以将自己的 Token 加入流动池，成为市商，享受佣金奖金的交易。而且，流动性池资金去中心化、开源合约管控，交易数据都在链条上，也是透明的。

Sifchain 是一个 OMNI 链去中心化交易所或 DEX 和自动做市商或 AMM。Sifchain 的原生 Token 是 ROWAN。Sifchain 的特别之处在于它支持前 20 大区块链之间的 Token 转移，并且连接了 IBC、BinanceChain、比特币、EOS、Polkadot 等。成为 Sifchain 上的流动性提供者可以带来丰厚的 APY（年收益率），具体取决于交易对。

Emeris Developed by the Tendermint Foundation, the new OMNI chain decentralized exchange or DEX and Automated Market Maker or AMM. The targets include multi-wallet support, access to different DeFi platforms, multi-chain pledge and mobile applications. Emeris has the new Gravity Bridge, which is a great place to start for our next topic, the Ethereum network.