IBC: A Core Primitive for Interchain Native Products
The birth of Bitcoin led to a Cambrian explosion of blockchains with different design principles and use cases. While these distributed ledgers serve different purposes, they existed (and still exist to a certain degree) as silos with limited meaningful interaction. Similar to the Internet which facilitates different types of computers in different parts of the world to communicate with one another, a similar technology that allows blockchains to communicate is a necessity for true value accrual. The Inter-Blockchain Communication (IBC) protocol aims to serve this purpose.