IBC enabled Registry for Digital Token Identifiers(DTIs) Module
uwezukwechibuzor opened this issue · 2 comments
One of the primary focuses of the IBC-enabled Digital Token Identifiers (DTIs) module is to facilitate the sharing of token information across different chains within the IBC network.
DTIs serve as a standardized representation of digital tokens that can be recognized and understood by participating blockchains. They provide a common language for token identification and information sharing.
With DTIs, blockchains can communicate and exchange token-related information, such as token name, symbol, and metadata. This sharing of token information enables seamless interoperability and cross-chain transfers of tokens.
DTIs help address the challenge of different blockchains using different native token standards or naming conventions. By providing a standardized format for token identification, DTIs enable blockchains to recognize and process tokens from other chains, even if they have different token standards.
The sharing of token information through DTIs opens up various possibilities, including cross-chain asset transfers, decentralized exchanges, and token bridging. It allows tokens to flow across different chains, enabling users to transfer and interact with tokens on different blockchains within the IBC ecosystem.
In summary, DTIs play a crucial role in enabling the sharing of token information and promoting interoperability between different chains, ultimately fostering a more connected and accessible blockchain network.
Take a look at this material
https://www.iso.org/obp/ui/#iso:std:80602:en