IBC

Inter Blockchain Communication (IBC) is a protocol that’s part of the Cosmos technology stack, allowing seamless communication between blockchains. It’s designed to overcome one of the core challenges of legacy public blockchains, which is that they were built to operate as silos, with no opportunity to transfer data or tokens between platforms/chains.

IBC enables BitSong to interoperate with any other IBC-enabled blockchain in the Cosmos ecosystem. Furthermore, with innovations such as the Evmos or Axelar, IBC is also being used to power bridges to non-Cosmos blockchain ecosystems like Ethereum.

What does this mean in practice? IBC allowed us to list $BTSG on any Cosmos DEX such as Osmosis or others that will be deployed in the future. It will also allow anyone holding NFTs, Fan Tokens, or BTSG, the possibility to use them in applications on other compatible blockchains. For instance, as the Cosmos DeFi ecosystem develops, someone could use the value stored in their BitSong-issued NFTs as collateral to take out a loan.

Therefore, both BTSG and FanTokens or NFTs have their doors open to other ecosystems and can be moved at the discretion of each operator, using the available tools. On the map of zones, one can see every interchain movement or transaction made on one or more channels, and the same channels open to other blockchains.

For example BitSong at the moment is communicating with 6 chains through 14 different relayers.