Axelar Network Overview

Empowering dApp builders and blockchain ecosystems
  1. Projects that have been working on interoperability within their own ecosystems. The issue with that is in order to connect external blockchains that are based on different consensus rules and software stacks, we need new protocols and techniques that Axelar is capable of providing.
  2. Due to the growing need for interoperability in the ecosystem, there appeared many unproven centralized point-to-point bridging solutions.
  1. Decentralized and open for participation to anyone
  2. Universal in its approach to connectivity, enabling scalability across arbitrary L1, L2, Proof of Work (PoW) or Proof of Stake (PoS) chains
  3. Capable of performing cross-ecosystem message routing and translation functionalities
  4. Open to any developer who wishes to integrate on top of the network
  • The Axelar network unlocks liquidity for DeFi. Given universal asset mobility across the ecosystems, DeFi builders can benefit from more liquidity and distribution channels.
  • Developers can build cross-chain bridge applications to allow users to move their assets from one ecosystem to another. Axelar is building a sample application for this use case and we encourage independent developers to create their own.
  • The Axelar Network also allows applications to compose across arbitrary chains: Suppose you have a DEX on chain A with assets (X, Y), and a DEX on chain B with assets (Y, Z). If you want to swap X -> Z, you can use the Axelar protocol for general composability.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store