Axelar Expanding its Cross-Chain Communication Network to Connect Avalanche with Other Leading Platforms
Avalanche users and developers will be able to access assets on Bitcoin, Ethereum, and additional chains connected to Axelar’s network.
Following a grant from the Avalanche-X program, Axelar and Avalanche are joining forces to realize the shared vision of decentralized interoperability.
Axelar is expanding its decentralized, cross-chain communication network to include Avalanche. Upon completion, Avalanche users will have another way to access assets and applications from Bitcoin, Ethereum, and any other interconnected chains on Axelar through a single point of integration. By plugging into Axelar, Avalanche automatically gains access to all future platforms added to the network, and vice versa.
Axelar’s technology stack allows decentralized applications connected to their network to seamlessly create decentralized trading pairs and liquidity pools. Their cross-chain transfer protocol (CTP) and universal gateway API will enable developers that build applications on Avalanche to natively interact with assets and applications on other chains.
Avalanche is quickly gaining traction with DeFi applications by offering users cheaper and faster transactions than other existing blockchain platforms. Integrating Avalanche into the Axelar network is the next step forward to bring scaled interoperability to the Defi space. Axelar will allow users from applications like the Pangolin DEX to tap into liquidity and cross-chain communication that previously wasn’t possible. To date, leading projects like bZx, TrueUSD, UNION, and more have decided to leverage Avalanche’s high-performance capabilities to deliver a smooth user experience.
Avalanche is developing an ecosystem of subnets that will natively interoperate with each other, and the Axelar network will add to this by providing external connectivity to blockchains outside of the Avalanche ecosystem. By working together to scale seamless cross-chain communication, both projects will increase security, adoption and improve access to liquidity.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first smart contracts platform that processes 4,500+ transactions/second and instantly confirms transactions. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs designed to break down the barriers to cross-chain communication. Powered by a decentralized open network of validators; anyone can join the network, use it, and build on it. The Axelar network makes cross-chain communication as simple as using HTTP/HTTPS protocols on the web. Platform developers can plug-in their blockchains to other ecosystems, and application builders can leverage a simple protocol and API to access global liquidity and communicate with the entire ecosystem. The Axelar team has deep roots in distributed systems, consensus, and cryptography. The venture is backed by Binance X, DCVC, Lemniscap, Collab+Currency, North Island Ventures, Divergence Ventures, Cygni Labs, and others.