An acronym for inter-blockchain communication, IBC is the set of technologies that allow blockchains to communicate with one another. IBC allows blockchains to transmit and receive messages to and from other blockchains in the same way that PCs do through TCP/IP. By allowing blockchains to talk to one another, IBC enables interoperability across blockchains with diverse consensus algorithms, state machines, and architectural philosophies.
Token transfers, swaps, multi-chain smart contracts, and various types of data and code sharing can all be built with IBC. A multi-chain universe whereby blockchains can establish a connection with any other compatible chain without requiring permissions scales the potential of blockchains immeasurably.
ICO – An ICO or Initial Coin Offering is a cross between an IPO (Initial Public Offering) and a crowdfunding campaign for a blockchain-based project, offering the project’s own coin in exchange for funds.