Hi all, I welcome discussion on this proposal, please reply here with any concerns or your support — thank you!
This proposal enables transferring and receiving assets using the ICS20 standard on the Cosmos Hub. If this proposal passes, the Cosmos Transfer module SendEnabled and ReceiveEnabled will be set to true. This will make IBC assets available in the Bank module of the Hub and
REGEN will be available on Zones connected over IBC.
The Cosmos Transfer module has been tested and is stable on other chains. In other chains there have been issues with stuck funds and UX confusion however overcoming these issues can only happen once IBC is live. Tendermint full nodes produce agreement under the assumption that at most one third of the voting power held by validators is Byzantine.
IBC is a protocol for authenticated message passing between heterogeneous sovereign blockchains. IBC requires trusting that chains on both sides of the connections operate within their security model.
IBC has a facility to support freezing connections once a violation of the security model has occurred. The set of criteria for detecting such attacks continues to evolve and is a constant focus of research.