IOST connects Gravity Network to foster cross-chain functionality

This article was first published on Stories by IOS Foundation on Medium

As Gravity expands the list of its target chains, IOST is joining the likes of Waves, Ethereum, and Tron.

We are excited to announce that IOST is joining Gravity network, a cross-chain oracle and communication network, as a target chain. IOST will become one of the platforms connected to Gravity, along with Waves, Ethereum, and Tron.

As a result of this integration, users will be able to benefit from the cross-chain compatibility between IOST and all Gravity target chains, gaining access to powerful Web 3.0 solutions, such as inter-chain DeFi (InDeFi). The collaboration will offer IOST the following benefits:

1. New trading opportunities

The SuSy gateway protocol is used for cross-chain token swaps and operates on top of the Gravity protocol. Therefore, IOST tokens will be accessible as wrapped tokens on chains that the Gravity protocol is integrated with, including Ethereum, Tron, Solana and Waves. This will pave the way to IOST listing on decentralized exchanges, such as Waves Exchange.

2. Additional liquidity

Gravity is a blockchain-agnostic solution: there is no specific “Gravity” token, instead, tokens of target chains are used. Similarly to ETH, TRX, WAVES and others, it will be possible to use IOST to pay fees and for node owners as collateral, which will add liquidity to IOST.

3. Decentralized Oracle solutions

Adding the Gravity oracle solution to the IOST network will bring about new opportunities for IOST dApp developers. The use of Gravity data providers will make it possible to retrieve off-chain data via smart contracts in a decentralized way, improving developers’ experience in the IOST network.

In turn, the integration of IOST will make the Gravity network more powerful, providing access to new dApps and tokens for users of all connected blockchains.

We’d like to special mention IOST.BEST.NODE partner node for connecting IOST and Gravity Network to ...

To keep reading, please go to the original article at:
Stories by IOS Foundation on Medium

Comments (No)

Leave a Reply