- Cronos blockchain launches a bridge for cross-chain IRS token transfers with IRISnet.
- It leverages Ethereum and Cosmos compatibility, utilizing the Inter-blockchain Communication Protocol (IBC).
- This development unlocks opportunities for trading, lending, borrowing, and investing in IRIS tokens on Cronos.
Cronos, the blockchain platform that is known for innovative technology, is now launching a bridge to facilitate cross-chain IRS token transfer with IRISnet. This development is a significant one in the broader blockchain ecosystem and cryptocurrency ecosystem. What else do readers need to know about this latest development? Let’s find out!
The Cronos Blockchain
Following the launch of Test Net Explorer, Cronos has taken another step toward development. As a blockchain that shares compatibility with the Ethereum Virtual Machine (EVM) and is constructed using the Cosmos SDK, Cronos holds a distinct advantage in linking the Ethereum and Cosmos ecosystems.
The blockchain has incorporated the Inter-blockchain Communication Protocol (IBC) from its inception and has established four IBC bridges. It is important to note here that there are multiple advantages of using this bridge, such as enabling trading, lending, borrowing, and investment of IRIS tokens on Cronos.
Moreover, this bridge enhances cross-chain interoperability and accessibility for users. Now, let’s see how the blockchain and its new features will change the landscape for users.