Summary
TLDR: Picasso Network has integrated the IBC Protocol with Ethereum, allowing for native transfer of assets and data with other blockchains like Cosmos, Polkadot, and Kusama. This is considered a more secure method compared to traditional bridging protocols. Osmosis will be the primary destination for Ethereum assets within the Cosmos ecosystem, aiming to create a unified and secure crosschain DeFi ecosystem.
Key Points
1. Picasso Network has successfully integrated the Inter-Blockchain Communication (IBC) Protocol with Ethereum, allowing for native transfer of assets and data with Cosmos Hub, Polkadot, Kusama, and potentially Solana in the future.
2. Native bridging is considered the most secure way for separate blockchains to transact with each other, as it eliminates the need for third parties overseeing transactions and reduces the security risks associated with lock and mint or lock and burn methods.
3. Osmosis, a decentralized exchange in the Cosmos ecosystem, will serve as the primary destination for Ethereum assets and liquidity, aiming to create a unified and secure crosschain DeFi ecosystem for users.