Who Builds IBC?

IBC is an open-source protocol built by a global community of developers.

IBC development is funded by the Interchain Foundation.

Security Policy

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

The Interchain Foundation funds the IBC's development, ensuring focused efforts on enhancing the protocol's robustness, security, and functionality.

The IBC Team at the Interchain Foundation are the main protocol development team. They maintain the IBC Protocol spec and the ibc-go, the IBC implementation used by the majority of IBC-enabled chains. The IBC team ensures that IBC development is feature-rich and reliable. Informal Systems maintains the implementation of IBC in Rust (ibc-rs) and the Hermes relayer. Other contributing organizations include Strangelove Labs, Confio GmbH, Osmosis Labs, Datachain, Bianjie, Polymer Labs, Composable Finance, Picasso Network, Omnity Network, Landslide Network, Cosmology, and Chorus One.

IBC development is funded by the Interchain Foundation.

Security Policy

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

History

IBC Protocol's Growth & Evolution

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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. Penumbra becomes the first non-Cosmos SDK chain to connect to IBC in testnet. 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. Composable Finance extended IBC connectivity to Polkadot and Kusama, 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.

2024

So far in 2024, Picasso Network expanded IBC to Solana, the first IBC-enabled rollups are live via Dymension, and the first IBC to Ethereum connection is open with others on the way. Ecosystem teams are building IBC connections to the Polygon Agglayer, Avalanche, and Ethereum L2s. The Cardano Foundation announced it’s building an IBC implementation to connect Cardano to the IBC network, and Ripple is building a sidechain for its XRPL chain to bring IBC connectivity to its users.

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