In February, the InterBlockchain Communication Protocol IBC had 11.2 million transfers, reaching an all-time high.
The Interchain Foundation, a Swiss non-profit funding the Cosmos ecosystem, told CoinSlate that 38 projects have activated IBC to date, which is a reason for this spike in activity.
InterBlockchain Communication Protocol IBC, which was launched in March 2021 as part of the Cosmos Stargate upgrade, brings a robust interchain infrastructure to the Cosmos ecosystem, bridging differentchains and facilitating exchanges between a network of interconnected chains.
In the last fall, IBC recorded over 780,000 transactions between August and September. Since then, IBC has broken its previous month's record, logging 1 million transfers less than a month after that.
With spring approaching, IBC broke all of its previous records. IBC recorded 11.3 million transfers in February 2022, according to information shared withCryptoSlate.
The Interchain Foundation says that 38 projects have activated IBC, with Fetch AI, Altered Carbon, Sommelier, and cheqd all joining the IBC interchain in February.
IBC released Interchain Accounts last month, which allows them to control accounts on other chains over IBC. The Interchain Foundation explained that this will bring exponential composability between Cosmos zones without reducing zone sovereignty.
Charleen Fei, the product lead at the Interchain Foundation, said that interoperability has become one of the biggest narratives of 2021. The rise of DeFi the industry has highlighted the need to make the growing number ofCryptoblockchain networks interoperable.
But none of this caught Cosmos off-guard. She stated that a world of sovereign interchain ecosystems with their own values and assets was an integral part of the 2016 Cosmos whitepaper and continues to be a core part of the Cosmos ecosystem. This has allowed Cosmos to be a leader in this space while the rest of the space is catching up to the idea that the future is multichain.
Fei said that Cosmos is working on improving user experience with the launch of Interchain Security. It will allow developers to deploy high-securityblockchains quickly and easily.
A challenge to tackle will be usability, as it requires continued work on making interoperability protocols strong and secure. We are seeing the first iterations of solutions across the Interchain in the form of native block explorers, interfaces, and wallets because of the fact that there is a truly interoperable landscape. She said that we hope to inspire what is to come next - a rich and diverse landscape of yet-to- be mapped out products that will comprise the Interchain.