Cosmos moves IBC to Linux Foundation with Google Cloud backing

Cosmos has announced the contribution of its IBC cross-chain protocol to LF Decentralized Trust, with Google Cloud and the Cardano Foundation supporting an effort to build an open standard for connecting financial networks. Cosmos and the Interchain Foundation are contributing IBC to LF Decentralized Trust’s neutral governance framework. Google Cloud supports the contribution, while Cardano Foundation has separately confirmed its participation. IBC has processed over $50 billion across more than 200 networks since 2021, according to Cosmos. Cosmos will remain a maintainer, with Datachain and OpenZeppelin joining work on the protocol. Cosmos said in its Nov. 9 announcement that the contribution will give financial institutions, technology companies and developers a neutral setting to work on the Inter-Blockchain Communication protocol, known as IBC.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.