EOS, one of the leading blockchain platforms, has executed the multi-signature (MSIG) proposal required to create the necessary accounts for EOS inter-blockchain communication (IBC). The move is a significant step towards the implementation of IBC between the EOS blockchain and other blockchains within the Antelope ecosystem. A move that has been met with excitement from the community.
Inter-blockchain communication (IBC) enables different blockchain networks to communicate and transfer value with each other. This opens the door to greater interoperability between different blockchain ecosystems, allowing for the seamless transfer of assets, data, and information. The implementation of IBC on EOS will not only benefit the EOS and Antelope ecosystems, but also the wider blockchain ecosystem as a whole.
For months, the Antelope Coalition (EOS, WAX, Telos, and UX Network) has been working to build an ecosystem that will enable faster, more secure, and efficient inter-blockchain communication. Allowing applications from any Antelope chain to communicate with all other chains that use Antelope IBC.
We reported last month that Antelope IBC had passed an external security audit with zero major and zero minor issues discovered. And that the next step for each chain would be to prepare the smart contracts and multi-signature accounts required for communication with the other chains.
After EOS has completed its MSIG account, the UX Network team will configure the contract settings and transfer owner and active account permissions to eosio.prods. Other chains will soon follow suit in executing their MSIG accounts for the imminent launch of Antelope IBC.
The implementation of IBC on EOS will bring numerous benefits to the network and its users. It will enable faster, more efficient, and secure cross-chain transactions, and will also enable the development of new decentralized applications (dApps) that can take advantage of the interoperability offered by IBC.
The EOS community is excited about IBC's potential and the possibilities it holds for the network's future. With the implementation of IBC, EOS will be well-positioned to become a leading player in the future of decentralized economies. The community will certainly be looking forward to the launch of Antelope IBC and the new opportunities it will bring for all stakeholders.
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● Antelope IBC is imminent (Tweet)