IBC recently introduced its latest update, ibc-go v8.1. The update has brought IBC Channel Upgradability to the platform.
With ibc-go v8.1, IBC can upgrade existing channels for new apps and features like fee middleware. It also allows the network to use interchain accounts alongside unordered channels. Moreover, the update facilitates pruning stale acknowledgments for reduced disk overhead.
IBC released a string of tweets and an official post to inform the users. The tweets continued to read that Channel Upgradability will solve an important issue for IBC partners.
Currently, token fungibility uses existing channels, which requires new channels for new features. Even Osmosis and Cosmos Hub had to settle for maintaining high-volume channels because of it.
But now IBC allows chains to upgrade existing channels for features such as fee middleware. It lets chains specify fee structures for relayer incentivization. In addition, scheduled features such as multihop routing and ICS-20 v2 will also be integrated within existing channels.
Partners can reduce the node size and disk overhead by upgrading a channel. After the teams have flushed in-flight packets, they can start using the Prune Acknowledgements process to discard any stale acknowledgments.
Above all, ibc-go v8.1 will allow projects to use ICA (Interchain Accounts) with unordered channels. With the latest update, a timeout on unordered channels does not lead to the closing of the channel. The functionality improves ibc-go’s usability and DevEx alike.
IBC has also stated that ICS-20 v2 is planned for later this year. The network will keep releasing updates regarding ICS-20 v2 on its website and social media handles. The upgrade will seamlessly update channels while helping IBC stay on its path for a better future.
Read the full article here