- Coreum successfully integrates XRP into its network, enhancing interoperability across blockchain platforms.
- The upgraded XRPL-Coreum bridge now supports multi-asset transfers, leveraging the Inter-Blockchain Communication Protocol for broader network compatibility.
In a post on X, Reza Bashash, one of Coreum and Sologenic’s founders, has distributed a copy on the official Coreum explorer, which contains 1.2 XRP tokens. This marks progress in interoperability across the blockchain network.
👀 pic.twitter.com/VPCBDAko5w
— Reza Bashash (@rezabashash) March 12, 2024
Coreum’s Milestone in Blockchain Interoperability
Since 2023, Coreum has been signaling the launch of a comprehensive XRPL (XRP Ledger) bridge, following the successful early implementation of the bridge.
His team first launched a bridge between XRPL and the Coreum network in the fourth quarter of 2022. However, the original version had limited capabilities, allowing only the transfer of Coreum tokens (COREUM) from XRPL to the Coreum blockchain.
At the time, network participants had managed to bridge over 37 million COREUM tokens through this bridge.
The main focus of the Sologenic team at the moment is the expansion of the bridge’s capabilities, since the end of last year. They announced plans to enhance the functionality of the unit by integrating advanced interoperability features and facilitating the transfer of dual assets.
And in recent developments, the bridge has made it possible to transfer XRP and other assets from XRPL to Coreum smoothly. At the time of writing, an official announcement had not been made, but the team plans to hold an AMA session in order to discuss developments.
Coreum’s official account at X also gave a teaser about the launch, depicting a connection between a blockchain compatible with the Coreum-supported EVM and XRPL. In response, another Coreum co-founder, Bob Ras, gave a detailed overview of the bridge’s capabilities.
On the horizon soon: Expanding support for interoperability with EVM-compatible networks such as Ethereum, BNB Smart Chain, Polkadot, and Avalanche through IBC. This will allow assets from those chains to flow back and forth between #Coreum and these blockchains seamlessly!
— Bob Ras (@bobrasX) March 11, 2024
According to him, it will facilitate interoperability with EVM-compatible networks, including Polkadot, Avalanche, Ethereum, and BNB Smart Chain. This interoperability will be possible through the use of the Inter-Blockchain Communication (IBC) Protocol.
FYI, the IBC Protocol is a set of protocols and standards that allow various blockchain networks to communicate and transfer assets or data between each other in a decentralized manner.
Therefore, this integration will strengthen Coreum’s position as a key player in the blockchain ecosystem and mark an important step forward towards the main vision of the blockchain network.
On the other hand, the XRPLedger AMM Amendment has been approved, paving the way for XRP holders to earn passive income through automated market makers, as previously reported by ETHNews. To explore this development in more depth, you can watch the YouTube video below.