Picasso Network, a decentralized restaking and interoperability hub, has recently started a collaboration with Osmosis (a cross-chain DeFi hub). As per the company, it has started an integration between Ethereum and Inter-Blockchain Communication Protocol to enable safe cross-chain interoperability. In a blog post, Picasso noted that the Ethereum-IBC integration ensures matchless data and asset transfer between Cosmos and Ethereum.
Picasso Integrates with Osmosis to Operate as Its Top DeFi and Liquidity Forum
In addition to this, the Cosmos-based DeFi hub Osmosis will reportedly play a significant role. It will operate as a major DeFi forum under the Cosmos ecosystem. The strategic endeavor benefits from the flexible and robust liquidity pools as well as the DeFi offerings of Osmosis. This will enable the Ethereum consumers to have exclusive access to the promising DeFi sector of Cosmos.
The integration enhances interoperability apart from enabling the cross-chain decentralized finance’s growth. The company asserted that IBC comes among the widely regarded as well as most-protected bridging protocols. The expansion of the present IBC to the latest ecosystems provides security improvements through centralized bridge offering platforms.
It also opens a unique sector dealing with the integrations between the comprehensive liquidity reserves. Picasso’s announcement of effective integration emerges as a huge landmark in the interoperability across the chains. Moreover, this innovative development paves the way for matchless data and asset transactions between the IBC ecosystems and Ethereum.
The Move Minimizes the Gap Between Remote Blockchain Ecosystems
The project team at the back of Picasso Network was the initial entity to expand the IBC protocol. This move denotes an enormous jump in minimizing the gap between remote blockchain ecosystems. It also offers continuous data and asset transactions between Ethereum as well as Cosmos. Picasso bridges the prominent blockchain ecosystems and supports a unique era dealing with accessibility, innovation, and liquidity.
