Picasso Network: IBC is integrated with Solana, allowing users to perform cross-chain transactions between Solana and other IBC-enabled chains

PANews reported on April 14 that according to official news, the Polkadot crowdlending project Picasso Network announced the integration of IBC and Solana Network. The Solana-IBC integration enables seamless asset and data transfer between Solana and Cosmos, increasing interoperability and facilitating the development of cross-chain DeFi. Jito Labs’ jitoSOL will be the first asset transferred from Solana to Cosmos. jitoSOL’s liquidity will depend on Osmosis. With this integration, Osmosis will also become the primary gathering place for Solana assets and liquidity within the Cosmos ecosystem.

The integration was facilitated by the Composable Foundation, the project team behind Picasso Network. Initially Solana lacked state proof, which made it incompatible with IBC. However, Composable worked with the INESC-ID Distributed Systems Group at the University of Lisbon to build a solution to this problem. Specifically, Composable created a guest blockchain system that allows Solana (and other non-IBC-compatible chains in the future) to support IBC. With the launch of Solana IBC on mainnet, users will be able to perform cross-chain transactions between Solana and other IBC-enabled chains (Ethereum, Cosmos SDK application chains, Polkadot, and Kusama parachains). Cross-chain opportunities will be increased and improved, and new use cases will be possible.