Sifchain IBC (Inter Blockchain Communication) is coming to Polygon.
Sifchain has launched its IBC feature making it the first platform to connect the hundreds of billions of assets in Ethereum and the tens of billions of assets in the Cosmos Network.
Sifchain is known as the inter-blockchain DEX (decentralized exchange) with the least slippage due to the implementation of pegs. The Cosmos ecosystem cumulatively has reached the third highest market cap in all of the cryptocurrency industry. According to Sifchain, this new tool should allow the migration of any Ethereum-based tokens to the Cosmos Network of chains and vice versa.
This announcement follows many community-driven initiatives to give ROWAN tokens to community participants. To participate on the Sifchain blockchain, or within its suite of tools, one must have ROWAN tokens that help power the crypto-economic platform.Released in February of 2021, Sifchain was created as a way to trade tokens between blockchains with the highest level of pricing accuracy without algorithm or external oracles, but by nodes of other blockchains running directly beside the Sifchain blockchain.
“Sifchain is proud to let users trade Ethereum and Cosmos Network assets on the same decentralized platform for the first time” said team member Jazear Brooks.
With the Cosmos Network ecosystem reaching the third-highest market cap position in aggregate behind Bitcoin (BTC) and Ethereum(ETH), a bridge between two of the three largest networks sets the stage for an interconnected future that features lower slippage, quicker speeds of transactions, and cross-chain transactions with no centralized intermediary.
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns and ~13.5M+ unique users.
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About Sifchain
Sifchain is the omni-chain solution for DEXes. More performant, more robust cryptoeconomics for trading and security, more flexible trading capabilities, an extensible omni-chain roadmap, and eventual true DAO governance.
Source : cryptodaily.io
