(MENAFN- EIN Presswire)
Octopus Network completes first milestone in developing bridge from Astar to Cosmos
The Astar/Shiden Network will become the first parachain with IBC interoperability to both transfer and receive cross-chain assets to and from any Cosmos chain.
TOKYO, KANTO, JAPAN, January 24, 2022 /EINPresswire.com / -- In October 2021, Astar Network accepted a grant proposal from the Octopus Network core team to create a bridge connecting the Astar/Shiden Network to all Cosmos based blockchains.
The Astar Network is a multichain smart contract hub on Polkadot that connects multiple Layer1 blockchains. Shiden Network is Astar's Kusama-based canary project. Cosmos is a decentralized network of independent parallel blockchains (Zones), each powered by BFT consensus algorithms like Tendermint consensus.
The Astar/Shiden Network will become the first parachain with IBC interoperability according to IBC's IC S20 standard to maintain a 1:1 cross-chain peg of assets in the Kusama and Polkadot ecosystems with the ability to both transfer and receive cross-chain assets to and from any Cosmos chain, which will provide significant benefits beyond those offered by public cross-chain bridges.
Both the Astar and Octopus Networks' core teams are currently working together to connect Polkadot and Cosmos with plans to deliver a production ready Polkadot and Cosmos bridge in Q1.
The project is phased to pass three milestones. Milestone1 is the successful development and deployment of a bridge for cross-chain messages on Shiden. Milestone2 is the implementation of crosschain asset transfers on Shiden. At Milestone3, these functionalities will then be adapted for the bridge on the Astar parachain.
Once teams deliver a production ready Cosmos and Polkadot bridge, all Cosmos chains, such as Terra, Injective Protocol, Osmosis, Crypto.org Chain (Crypto.com), Oasis Network, etc., will be compatible with Astar and hence Polkadot.
Octopus Network Successfully Completes Milestone1 of the Astar — Cosmos Bridge
The Astar and Octopus Network teams are excited to announce the successful completion of Milestone1 — Crosschain messaging between Cosmos chains and Shiden Network has been successfully implemented. The next steps are to realize a crosschain asset transfer feature on Shiden before adapting both the crosschain messaging and asset transfer features to Astar.
Please check out the Octopus Network demo below:
Github:
Demo:
About Astar Network
The Astar Network is a scalable and interoperable multichain smart contract hub built with Parity's Substrate framework. The Polkadot Relaychain, by design, does not support smart contracts. Astar Network has taken up the challenge to fill this need. Ideally, dApp developers will be able to build applications on the Astar Network parachain without having to worry about scalability.
About Octopus Network
The Octopus Network is a multichain cryptonetwork for launching and running Web3.0 application-specific blockchains — appchains. Appchains in the Octopus Network benefit from flexible and cost-effective leased security (LPoS), out-of-the-box multichain interoperability, complete infrastructure, and a ready-to-be-engaged community. The Octopus Development Team has successfully built IBC for Substrate and has cooperated with many public chain projects in R&D building crosschain bridges in particular.
Suzanne Leigh
Octopus Network
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