diff --git a/giambio/__init__.py b/giambio/__init__.py
index 0ced5c2..02c3062 100644
--- a/giambio/__init__.py
+++ b/giambio/__init__.py
@@ -22,7 +22,7 @@ __version__ = (0, 0, 1)
 
 from giambio import exceptions, socket, context, core, task, io
 from giambio.traps import sleep, current_task
-from giambio.sync import Event, Queue
+from giambio.sync import Event, Queue, MemoryChannel
 from giambio.runtime import run, clock, create_pool, get_event_loop, new_event_loop, with_timeout, skip_after
 from giambio.util import debug
 
@@ -34,6 +34,7 @@ __all__ = [
     "sleep",
     "Event",
     "Queue",
+    "MemoryChannel",
     "run",
     "clock",
     "create_pool",
diff --git a/giambio/context.py b/giambio/context.py
index abc12f9..f610bf4 100644
--- a/giambio/context.py
+++ b/giambio/context.py
@@ -78,14 +78,17 @@ class TaskManager:
         all the tasks spawned inside the pool
         """
 
-        for task in self.tasks:
-            # This forces the interpreter to stop at the
-            # end of the block and wait for all
-            # children to exit
-            await task.join()
-            self.tasks.remove(task)
-        self._proper_init = False
-        if isinstance(exc, giambio.exceptions.TooSlowError) and not self.raise_on_timeout:
+        try:
+            for task in self.tasks:
+                # This forces the interpreter to stop at the
+                # end of the block and wait for all
+                # children to exit
+                await task.join()
+                self.tasks.remove(task)
+            self._proper_init = False
+            if isinstance(exc, giambio.exceptions.TooSlowError) and not self.raise_on_timeout:
+                return True
+        except giambio.exceptions.TooSlowError:
             return True
 
     async def cancel(self):
diff --git a/giambio/core.py b/giambio/core.py
index ee48c00..58058fb 100644
--- a/giambio/core.py
+++ b/giambio/core.py
@@ -360,6 +360,7 @@ class AsyncScheduler:
         
         if self.current_task.last_io:
             self.io_release_task(self.current_task)
+        self.current_task.status = "sleep"
         self.suspended.append(self.current_task)
 
 
@@ -728,6 +729,8 @@ class AsyncScheduler:
                 self.io_release_task(task)
             elif task.status == "sleep":
                 self.paused.discard(task)
+                if task in self.suspended:
+                    self.suspended.remove(task)
             try:
                 self.do_cancel(task)
             except CancelledError as cancel:
diff --git a/giambio/sync.py b/giambio/sync.py
index 9da7a3a..cc7191c 100644
--- a/giambio/sync.py
+++ b/giambio/sync.py
@@ -45,7 +45,7 @@ class Event:
         if self.set:
             raise GiambioError("The event has already been set")
         self.value = value
-        await event_set(self)
+        await event_set(self, value)
 
     async def wait(self):
         """
@@ -73,6 +73,27 @@ class Queue:
         self.putters = deque()
         self.container = deque()
 
+    def __len__(self):
+        """
+        Returns the length of the queue
+        """
+
+        return len(self.container)
+    
+
+    async def __aiter__(self):
+        """
+        Implements the iterator protocol
+        """
+
+        return self
+    
+    async def __anext__(self):
+        """
+        Implements the iterator protocol
+        """
+
+        return await self.get()
 
     async def put(self, item: Any):
         """
@@ -81,7 +102,7 @@ class Queue:
         enough space for the queue
         """
 
-        if self.maxsize and len(self.container) < self.maxsize:
+        if not self.maxsize or len(self.container) < self.maxsize:
             self.container.append(item)
             if self.getters:
                 await self.getters.popleft().trigger(self.container.popleft())
@@ -106,3 +127,74 @@ class Queue:
             ev = Event()
             self.getters.append(ev)
             return await ev.wait()
+
+    async def clear(self):
+        """
+        Clears the queue 
+        """
+
+        self.container.clear()
+
+    async def reset(self):
+        """
+        Resets the queue
+        """
+
+        await self.clear()
+        self.getters.clear()
+        self.putters.clear()
+
+
+class MemoryChannel:
+    """
+    A two-way communication channel between tasks based
+    on giambio's queueing mechanism. Operations on this
+    object do not perform any I/O or other system call and
+    are therefore extremely efficient
+    """
+
+    def __init__(self, maxsize: Optional[int] = None):
+        """
+        Public object constructor
+        """
+
+        # We use a queue as our buffer
+        self.buffer = Queue(maxsize=maxsize)
+        self.maxsize = maxsize
+        self.closed = False
+
+
+    async def write(self, data: str):
+        """
+        Writes data to the channel. Blocks if the internal
+        queue is full until a spot is available
+        """
+
+        if self.closed:
+            return
+        await self.buffer.put(data)
+
+    async def read(self):
+        """
+        Reads data from the channel. Blocks until
+        a message arrives or returns immediately if
+        one is already waiting
+        """
+
+        return await self.buffer.get()
+    
+    async def close(self):
+        """
+        Closes the memory channel. Any underlying
+        data is left for clients to read
+        """
+
+        self.closed = True
+    
+    async def pending(self):
+        """
+        Returns if there's pending
+        data to be read
+        """
+
+        return bool(len(self.buffer))
\ No newline at end of file
diff --git a/giambio/traps.py b/giambio/traps.py
index b15a838..2e1e8f6 100644
--- a/giambio/traps.py
+++ b/giambio/traps.py
@@ -150,7 +150,7 @@ async def cancel(task):
     """
 
     await create_trap("cancel", task)
-    assert task.cancelled, f"Task ignored CancelledError"
+    assert task.done(), f"Task ignored CancelledError"
 
 
 async def want_read(stream):
@@ -198,13 +198,14 @@ async def event_wait(event):
     return await suspend()
 
 
-async def event_set(event):
+async def event_set(event, value):
     """
     Sets the given event and reawakens its
     waiters
     """
 
     event.set = True
+    event.value = value
     loop = await current_loop()
     for waiter in event.waiters:
         loop._data[waiter] = event.value
diff --git a/tests/memory_channel.py b/tests/memory_channel.py
new file mode 100644
index 0000000..ee2a8e8
--- /dev/null
+++ b/tests/memory_channel.py
@@ -0,0 +1,31 @@
+import giambio
+from debugger import Debugger
+
+
+async def sender(c: giambio.MemoryChannel, n: int):
+    for i in range(n):
+        await c.write(str(i))
+        print(f"Sent {i}")
+    await c.close()
+    print("Sender done")
+
+
+async def receiver(c: giambio.MemoryChannel):
+    while True:
+        if not await c.pending() and c.closed:
+            print("Receiver done")
+            break
+        item = await c.read()
+        print(f"Received {item}")
+        await giambio.sleep(1)
+
+
+async def main(channel: giambio.MemoryChannel, n: int):
+    async with giambio.create_pool() as pool:
+        await pool.spawn(sender, channel, n)
+        await pool.spawn(receiver, channel)
+    
+
+
+channel = giambio.MemoryChannel(2)
+giambio.run(main, channel, 5, debugger=())
\ No newline at end of file
diff --git a/tests/queue.py b/tests/queue.py
index 7787bb1..afe761a 100644
--- a/tests/queue.py
+++ b/tests/queue.py
@@ -27,5 +27,5 @@ async def main(q: giambio.Queue, n: int):
     
 
 
-queue = giambio.Queue(2)
+queue = giambio.Queue()
 giambio.run(main, queue, 5, debugger=())
diff --git a/tests/task_ipc.py b/tests/task_ipc.py
new file mode 100644
index 0000000..79617df
--- /dev/null
+++ b/tests/task_ipc.py
@@ -0,0 +1,33 @@
+import random
+import string
+import giambio
+from debugger import Debugger
+
+
+async def task(c: giambio.MemoryChannel, name: str):
+    while True:
+        if await c.pending():
+            print(f"[{name}] Received {await c.read()!r}")
+        else:
+            data = "".join(random.choice(string.ascii_letters) for _ in range(8))
+            print(f"[{name}] Sending {data!r}")
+            await c.write(data)
+        await giambio.sleep(1)
+
+
+async def main(channel: giambio.MemoryChannel):
+    print("[main] Spawning workers")
+    async with giambio.skip_after(5) as pool:
+        await pool.spawn(task, channel, "one")
+        await pool.spawn(task, channel, "two")
+        await pool.spawn(task, channel, "three")
+    await channel.close()
+    print(f"[main] Operation complete, channel closed")
+    if await channel.pending():
+        print(f"[main] Channel has {len(channel.buffer)} leftover packets of data, clearing it")
+        while await channel.pending():
+            print(f"Cleared {await channel.read()!r}")
+
+
+channel = giambio.MemoryChannel()
+giambio.run(main, channel, debugger=())
\ No newline at end of file