Started IBC spec

docs/spec/README.md

@@ -5,14 +5,16 @@ the Cosmos Hub.
 
 NOTE: the specifications are not yet complete and very much a work in progress.
 
+<<<<<<< HEAD
 - [Basecoin](basecoin) - Cosmos SDK related specifications and transactions for
   sending tokens.
 - [Staking](staking) - Proof of Stake related specifications including bonding 
   and delegation transactions, inflation, fees, etc.
 - [Governance](governance) - Governance related specifications including 
   proposals and voting.
+- [IBC](ibc) - Specification of the Cosmos inter-blockchain communication (IBC) protocol.
 - [Other](other) - Other components of the Cosmos Hub, including the reserve 
   pool, All in Bits vesting, etc.
 
-The [specification for Tendermint](https://github.com/tendermint/tendermint/tree/develop/docs/specification/new-spec), 
+The [specification for Tendermint](https://github.com/tendermint/tendermint/tree/develop/docs/specification/new-spec),
 i.e. the underlying blockchain, can be found elsewhere.

docs/spec/ibc/README.md

@@ -0,0 +1,7 @@
+# Inter Blockchain Communication protocol
+
+IBC was defined in the [cosmos whitepaper](https://github.com/cosmos/cosmos/blob/master/WHITEPAPER.md#inter-blockchain-communication-ibc),
+and then in detail in a [specification paper](https://github.com/cosmos/ibc/raw/master/CosmosIBCSpecification.pdf).
+
+This package builds on that and includes detailed specifications, pseudocode and protocol specification.
+