Ethereum. Cardano. Monero. And dozens of others.
Over the past few years, blockchain systems have proliferated, each offering unique advantages and development environments. Some feature robust smart contract integrations. Others prioritize efficiency and speed. Still others offer greater privacy capabilities.
When developers begin working on new blockchain-based applications, one of the first things they have to do is decide which blockchain platform to focus on. Unfortunately, this segmentation holds many innovative apps back.
But what if it was possible to bridge between ecosystems quickly and easily? What if developers were empowered to build their applications on the blockchain system that’s best for it — while still allowing it to communicate easily with other systems?
What if there was a simple bridge between blockchains? With the Axelar Network, there will be.
What is the Axelar Network?
The team behind the Axelar Network has dedicated itself to finding a solution for cross-chain communication that’s plug-and-play, upgradeable, and features a simple, uniform language for all apps. This group of international engineers, crypto researchers, and software developers have the expertise and skills needed to make just such a solution possible.
The Axelar Nerwork will feature everything needed to streamline and enhance communication across blockchains and ecosystems. Its decentralized network and APIs will make it easier than ever to enable cross-chain requests between stand-alone blockchains like Bitcoin and interoperability hubs such as Ethereum. This will allow developers to create dApps that are more convenient and versatile. And consumers will benefit by having access to resources on any blockchain, regardless of its larger ecosystem. This will dramatically increase cross-chain liquidity, further empowering crypto holders and strengthening tokens of every kind.
But the Axelar Network won’t just give users the ability to use assets cross-chain. It will also provide applications with new and exciting capabilities, such as composing across arbitrary chains. Apps will be able to retrieve information from one blockchain and pass it to another one using application-level protocols. Developers will be able to host their applications anywhere, store and transfer assets across any blockchain, and communicate with other apps without regard for ecosystems.
In addition to offering incredible flexibility, Axelar Network will also provide users and developers with unparalleled security, thanks to its underlying decentralized protocols.
The Axelar Network will be built on a decentralized trust. This means that the network and all protocols will be decentralized and open. In this community, transparency and fairness are essential.
Elected validators will maintain the Axelar Network and run the nodes that secure its blockchain. This will take place through a Delegated Proof-of-Stake (DPoS) model where users will elect validators who must bond their stake to participate in the consensus and must maintain high-quality service. First developed by former EOS Chief Technology Officer Dan Larimer, the DPoS model is a more democratic way of choosing who verifies each block, ensuring a more open, transparent, and diverse way of securing the blockchain. This model is already being used to good effect in networks like Cosmos Hub. And the development team at Axelar is confident that it will offer similar benefits here.
How will the Axelar Network differ from other cross-chain solutions?
Axelar isn’t the first cross-chain project out there. However, most current solutions have major weaknesses and drawbacks that the team at the Axelar Network is looking to avoid.
Several current cross-chain solutions focus on interoperability exclusively within their own ecosystems. Unfortunately, communication with blockchains outside of that ecosystem is often stopped in its tracks because of the different consensus rules and other protocols. While this kind of limited project may be helpful up to a point, it doesn’t fix the larger issue plaguing many dApps.
There are a number of developers in the market who have realized this weakness and sought to create point-to-point bridging solutions that overcome it. But these cross-chain projects lack the kind of uniform, plug-and-play capabilities that developers and users are craving.
That’s where Axelar Network will differ from the competition.
The developers behind the Axelar Network are determined to create a decentralized, cross-chain solution that’s designed to work with any chain, not just certain ones. And since they’re also prioritizing plug-and-play functionality, dApps will be able to implement its cross-chain features with ease.
The Axelar Network will offer a single bridge for users and developers to cross, giving them access to all interconnected chains. This will allow app developers to focus on building the best platforms they can, without having to worry about limitations.
Paving the way for the future of blockchain technology
Currently, one of blockchain technology’s biggest challenges is cross-chain communication. But with the Axelar Network, that challenge will finally be overcome.
Dozens of individuals and organizations have seen the potential of Axelar. That’s why the list of individuals and organizations partnering with Axelar is steadily growing. It already includes major names like Keplr, Polygon, and Terra. And the coming months will undoubtedly bring even more.
The future of blockchain is cross-chain communication. And Axelar stands at the vanguard of those developments, building that future one innovation at a time.
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