Axelar overview

This article is dedicated to Axelar, its main features, and role in the Cosmos ecosystem.

Currently, there are already more than a hundred blockchain ecosystems. This creates the need to make cross-chain platforms. Users need technologies that can link disparate web3 chains into a single and secure space. One of the cross-chain projects is Axelar.

Axelar network is a scalable cross-chain communication platform.

Blockchain platform builders can use it to seamlessly plug-in their blockchains to all other blockchain ecosystems. Application developers can choose the best blockchain to host their applications and use Axelar’s cross-chain communication protocols to lock, unlock, and transfer assets, as well as communicate with applications on any other chain. By connecting dapps with multiple blockchain ecosystems, the Axelar platform empowers users to interact with all applications across the ecosystem directly from their wallets.

Axelar network includes a protocol suite and APIs. The core protocols are:

• Cross-Chain Gateway Protocol (CGP). This protocol is used to connect multiple autonomous blockchain ecosystems and is responsible for routing across them. An important feature of this protocol is that it can finalize blocks of any chain via a 2nd-layer consensus executed by the protocol node-runners. This means that it can work with probabilistic chains just as easily as it works with chains that support instant finality.
• Cross-Chain Transfer Protocol (CTP). This protocol enables the composability of programs across blockchain ecosystems. Application developers can connect their dapps on any chain to perform cross-chain requests. Users can use CTP to interact with applications on any chain.

In August 2021 Axelar entered into a new partnership with Keplr, the largest Cosmos interchain wallet, and it opened up new horizons to Cosmos. For example, through Osmosis you can get DAI WETH and WBTC.

Axelar network offers the following advantages:

• For blockchain platform builders there is ability to easily plug-in their blockchains to all other blockchain ecosystems.

• Application builders can host their dapps anywhere, lock, unlock, transfer assets, and communicate with applications on any other chain.

• Users can interact with all applications across the ecosystem directly from their wallets.

Not so long ago they introduced AXL token. It is designed to help Axelar network achieve outcomes as a universal connector of blockchain ecosystems: Security, Decentralization, Longevity and Ecosystem growth. The AXL token is central to the operation of Axelar’s decentralized network. Successfully creating a fair, sustainable and equitable token economy will be critical for growth and functioning of the Axelar network at genesis, and in the long-term future.

Axelar is the universal, decentralized transport layer, supported by permissionless validators and powered by Tendermint. It enables cross-chain applications to get away from the insecurity of ad-hoc bridges. As a universal overlay network, Axelar provides routing, translation and security between all blockchains, providing Web3 interoperability with maximum composability and security.

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