I've been following Cosmos for more than 4 years (I even met the founders live at a conference in 2017) and I am impressed with their persistence and ability to deliver. I remember asking in a live stream to @khaleelkazi, a couple of months ago, if he knows something about IBC, when he was talking about LeoBridge. I was a bit surprised that he didn't, but it's somehow understandable, with the amount of information that is floating around in the cryptosphere these days.
I tested IBC with two Cosmos-based blockchains and it works really nice. Adding this to Hive would be indeed a great improvement.
But I think it would be better done as a layer 2 implementation, not in the consensus layer, not as a hardfork, that is. It boils down to implementing a peg zone. There are costs involved, as you would have to maintain specific nodes for that. I can't say exactly how much it would be, but just as an estimation I would see at least x1.5 from a normal witness setup (you would need to have a witness node AND something on top of it).
I intend to participate at their Vietnam hackathon, which starts today, and lasts 2 weeks. Hopefully I would at least have a better understanding of their tech stack after this. I'm not going to build something specifically on the IBC, though, I'm focusing on their NFT implementation. We'll see how this goes, if there's something significant, I will report in two weeks.
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I'm very glad someone that has an understanding of Cosmos and the IBC commented here. The technical side of this suggestion is well beyond my skills, I just like the big picture idea. I remember the question in the AMA, there is so much going on in crypto its hard to be across everything.
The first real test of IBC for token transfer at scale comes in less than 24 hours with the launch of Osmosis. This is going to be fascinating to watch, and I'll be there with an airdrop and some tokens to get involved with LP's and OSMO staking. The idea of a multi-chain, balancer style of AMM with very low fees is highly appealing I think.
Have fun at the hackathon, and I'll keep an eye out for any updates you post after the event.
Thanks heaps for your response here.
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