Who Builds IBC?

IBC is an open standard for interoperability built by a global community of developers.

IBC development is funded by the Interchain Foundation.

Security Policy

Visit the ImmuneFi program page for the most up-to-date version of the policies governing security, vulnerability disclosures, and bug bounties.

The Inter-Blockchain Communication Protocol (IBC) is an open-source interoperability protocol, with the Cosmos team being a primary contributor and maintainer of IBC since its launch, which is working alongside open-source contributors to maintain the protocol and expand its functionality.

The Cosmos team remains committed to maintaining IBC, supporting its development, and expanding its usage.

In five years of production, it has processed $50B+ in transaction volume without an exploit of the supported version.

The Inter-Blockchain Communication protocol supports Besu, Ethereum, Solana, and Cosmos today, and its formal specification allows developers to implement it for other ledgers and virtual machines while maintaining compatibility.

IBC development is funded by the Interchain Foundation.

Security Policy

Visit the ImmuneFi program page for the most up-to-date version of the policies governing security, vulnerability disclosures, and bug bounties.

History

Five Years of IBC in Production

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2021

The IBC Team at the Interchain Foundation launched the IBC Protocol, beginning the Interchain era. The first IBC transaction is an asset transfer between Cosmos Hub and Irisnet on April 2, 2021. The launch of the decentralized exchange Osmosis on June 19, 2021 brought IBC to an end-user-facing application, and IBC volume growth became exponential.

Chains built with the Cosmos SDK get out-of-the-box IBC connectivity, and 32 chains join the IBC network by the end of 2021.

2022

IBC processed $30bn USD in transaction volume through 50 million transfers. Interchain Accounts and Interchain Queries were released, marking the blockchain industry’s first cross-chain account control and cross-chain data query features.

Development began on IBC in Rust. 53 sovereign chains were connected to the mainnet IBC network at the end of 2022.

2023

IBC branched out to additional ecosystems and use cases. MUFG, the world’s 7th-largest bank, adopted an IBC-enabled stablecoin solution, and NEAR IBC went into production. Innovative features launched in 2023 include cross-chain validation, which enables chains to share economic security.

In 2023, 124 developers contributed to IBC’s open-source repositories. 107 chains were IBC-enabled, a 102% increase year over year.