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Ideahacker's Guide to IBC: A Walkthrough of the Ideathon Tracks

14.10.2024
IBC Protocol

The first-ever Ideahacker's Guide to IBC is fast approaching and it’s time to get inspired! This global online ideathon invites builders, creators, entrepreneurs, and big thinkers to submit their ideas to unlock cross-chain innovation using the Inter-Blockchain Communication Protocol (IBC). A winning Ideahacker can earn up to $3,000 and the opportunity to work on building their idea, all-expenses-paid, at the IBC Idea Incubator in Istanbul in 2025. 

The ideathon is divided into five tracks focusing on different areas of cross-chain innovation: Solana, DeFi Apps, Chain Abstraction, Intents & Incentives, and Wild Card. Let’s take a closer look at each category and the types of ideas participants might want to explore. Under each track, we’ve included a sample idea to show you how to structure a submission.

Please note that an idea submitted under any track must involve IBC Protocol in order to be eligible for judging. All submissions must follow the detailed submission guidelines, including an idea export from the IBC Idea Builder. Read the submission guidelines.

Track 1: Solana

Solana is known for its high-throughput transaction capabilities and has had more than 300 billion all-time transactions. The Solana track seeks innovative interoperable ideas that use IBC to connect Solana to chains and applications in the Interchain with the goal of increasing collaboration between the two ecosystems. With Solana’s focus on high-quality UX and DevEx and the interchain’s diversity of IBC-connected chains and interoperability expertise, the sky’s the limit!

Do you have an idea for an MEV-powered cross-chain liquid staking pool to rival the likes of JitoSol? Perhaps you’re dreaming of a revolutionary DeFi app that spurs cross-pollination of our user bases or an innovative way to integrate interoperable NFTs and onboard the next billion users. Whatever your idea to boost cooperation between the interchain and Solana, as Composable founder Brainjar commented in the Interchain Jam, “IBC is the perfect, the only choice.”

Idea Example: Solana

A decentralized social media aggregator that allows users to pull posts, content, and interactions from different blockchain-based social platforms, with Solana’s low latency and IBC handling the cross-chain data sharing (with the use of Interchain Queries and Interchain Accounts). Users could curate their feeds by pulling data from Solana-based platforms and other chains, like Ethereum Mainnet or Base, to create a borderless and censorship-resistant social media experience. It could even include a ‘reputation token’ system, enabling cross-platform content validation or user reputation tracking across multiple chains.

Track 2: DeFi Apps

The DeFi world is rapidly growing with more protocols, applications, and choices than ever before. According to SkyQuest, the total market size will reach almost $50 billion by 2031. The DeFi Apps track invites you to generate novel ideas for cross-chain DeFi apps and workflows that seamlessly unite two or more blockchain networks via IBC. Blockchains can be inside or outside the interchain ecosystem; feel free to use any network in your ideas, including L2s, rollups, and other Layer 1’s. 

Can you find a way to top the innovative DeFi offerings in the interchain today and provide multiple ecosystem users with seamless access to its thriving DeFi landscape? Perhaps you can create more robust liquidity pools or uncollateralized instant loans and propel your idea to a broader user base leveraging IBC. Imagine a future where assets and services can be accessed across chains with ease – and make it a reality.

Idea Example: DeFi Apps

What if we could build a truly global, decentralized carbon credit market that spans multiple chains, making it easier for companies, governments, and individuals to trade carbon credits across the world? By using IBC, this market could seamlessly connect various ecosystems where carbon credit tokenization already exists, like Cosmos and Ethereum. Users could purchase, sell, and trade carbon credits regardless of which chain they’re operating on, allowing for a more efficient and impactful solution to global environmental crises.

Track 3: Chain Abstraction

With UX continually cited as one of the barriers to mass adoption, the importance of chain abstraction has never been higher. As Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, recently commented, “We can change the world with blockchain technology if we stop talking about it.” 

A world of interconnected chains across ecosystems makes for a world of abundant resources – but users should never have to manually move assets from one chain to another, or even think about the underlying blockchain they’re using. Chain abstraction aims to make cross-chain interactions invisible and frictionless, enhancing the end-user experience and making web3 more accessible. 

In this track, we encourage you to push the limits of chain abstraction by leveraging IBC for seamless cross-chain interactions. Your idea should prioritize user convenience while ensuring secure and efficient transactions. Can you come up with an IBC-powered ThorChain that lets users swap assets seamlessly from one single interface or a frictionless cross-chain NFT marketplace that unlocks greater real-world utility? Here’s your chance.

Idea Sample: Chain Abstraction (Cross-Chain Healthcare Data Network)

The world is increasingly digital, but healthcare data is often stuck in legacy systems that lack interoperability. What if we could use IBC to create a cross-chain healthcare data network where medical records and health data could be securely and privately exchanged across different networks? This could allow patients to control and access their healthcare data on multiple chains without needing to move records manually, whether for travel, insurance claims, or treatment by specialists on different platforms. A frictionless UI could make it simple for both healthcare providers and patients to interact with these records without worrying about the specifics of using different chains.

Track 4: Intents & Incentives

Optimizing cross-chain interactions is key to unlocking their full potential. This track focuses on ideas that utilize IBC to optimize transaction delivery speed while providing incentives for operators, including through MEV (Maximal Extractable Value). Your idea should prioritize user goals and efficiently achieve them through intent-centric systems.

Idea Example: Intents & Incentives

The world is increasingly digital, but healthcare data is often stuck in legacy systems that lack interoperability. What if we could use IBC to create a cross-chain healthcare data network where medical records and health data could be securely and privately exchanged across different networks? This could allow patients to control and access their healthcare data on multiple chains without needing to move records manually, whether for travel, insurance claims, or treatment by specialists on different platforms. A frictionless UI could make it simple for both healthcare providers and patients to interact with these records without worrying about the specifics of using different chains.

Track 5: Wild Card

Sometimes the most innovative solutions come from the most unexpected places. The Wild Card track is designed for ideas that don't fit neatly into the above ideathon categories but still have the potential to revolutionize cross-chain interactions. We encourage you to think outside the box and submit your IBC-powered cross-chain idea to the Wild Card track no matter how unconventional it may seem.

Can you incorporate AI or IoT technologies to unlock their potential in the blockchain world? Can you design an appealing gaming app that brings the multi-billion-dollar online gaming market to web3? Let your creative juices flow.

Final Thoughts

You can submit as many ideas as you want across the different tracks, but keep in mind that you can only win one prize per category. Get ready to showcase your creativity, innovation, and passion for blockchain interoperability. Join the Ideathon and help shape the future of web3!

Useful Links for Ideahackers
The Inter-Blockchain Communication Protocol
The Inter-Blockchain Communication Protocol is supported by the Interchain Foundation.
Join the Community
Support for developers building with IBC
[email protected]
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