OpenZeppelin Backs IBC's Secure Interoperability Effort

OpenZeppelin supports the Inter-Blockchain Communication (IBC) protocol’s effort to establish secure interoperability standards for decentralized finance. The organization has linked that work to risks isolated networks pose to efficiency and security as tokenized finance develops.

IBC, developed by Cosmos, is designed to connect blockchain networks. Cosmos and the Interchain Foundation plan to donate the protocol to LF Decentralized Trust, the Linux Foundation’s decentralized technology organization. Under the proposed arrangement, participating organizations would advance IBC’s development within a neutral governance framework. People from 21 organizations, including OpenZeppelin, jointly initiated the effort. TokenPost previously covered the planned IBC donation.