Advanced Blockchain AG's Portfolio Company Composable Launches Groundbreaking ETH-IBC Mainnet

Advanced Blockchain AG announced that its portfolio company, Composable, has achieved a significant industry milestone by launching the ETH-IBC mainnet. This development enables, for the first time, seamless cross-chain transfers between Ethereum and Cosmos ecosystems. Composable's achievement places it at the forefront of blockchain interoperability solutions.

The launch is part of a phased rollout, with the initial Beta phase focusing on asset transfers between the two blockchains. This effort aligns with Composable’s mission to facilitate a fully interoperable Decentralized Finance (DeFi) landscape. Simon Telian, CEO of Advanced Blockchain, emphasized the importance of Ethereum in the blockchain narrative and praised Composable's three years of innovation leading to this moment.

Henry Love, the executive director of the Composable Foundation, highlighted the project’s pioneering work in achieving secure cross-chain interoperability. The new ETH-IBC mainnet not only promises enhanced liquidity across blockchains but also introduces a transaction fee model that supports Composable's ongoing development and stability.

The introduction of a $20 gas fee for asset transfers signals a step towards managing the operational aspects of cross-chain transactions. Furthermore, Composable's roadmap includes plans for integrating additional blockchains like Solana, suggesting a broader impact on blockchain interoperability in the future. Advanced Blockchain AG and Composable Management expressed excitement about the development and its presentation at the upcoming TOKEN2049 conference in Dubai.