Blockchain systems are rapidly gaining popularity and attracting new use cases for asset tokenization, DeFi, and other dApps.
Several major blockchain such as Ethereum, Monero, EOS, Cardano, Terra, Cosmos, Avalanche, Near, and Celo add various features for their dApps, usecases, users, and developers.
However, the useful features of each new platform available only for their blockchain users.
A number of questions immediately arise:
1. Is it possible to get easy access to other blockchain ecosystems?
2. Can we provide platform for developers to maintain connectivity across multiple ecosystems?
3. Can we give access for users to their wallets in different blockchains?
Naturally!
Axelar Network’s cross-chain platform can help connect ecosystems to find and enable applications without any problems in combination between them.
Validators use simple protocols that make it easy to make a cross-request. Anyone can use it. Basic network assessment considering high security availability and survivability required for cross-chain origins. The Axelar network includes a set of protocols and APIs.
The main protocols of the Axelar platform are:
• Cross-Chain Gateway Protocol (CGP). This protocol is analogous to Border Gateway Protocol on the Internet. This protocol is used to connect multiple autonomous blockchain ecosystems and is responsible for routing across them. Blockchains do not need to “speak any custom language”, their platform developers do not need to make any custom changes on their chains, and their chains can be plugged into the global network easily.
• Cross-Chain Transfer Protocol (CTP). This protocol is analogous to application-level protocols File Transfer, Hypertext Transfer Protocols on the Internet. It is an application-level protocol stack that sits on top of routing protocols (such as CGP and other routing technologies). Application developers can connect their dapps on any chain to perform cross-chain requests. Users can use the CTP protocol to interact with applications on any chain using simple API calls analogous to HTTP GET/POST requests. Developers can lock, unlock, and transfer assets between any two addresses across any blockchain platforms, execute cross-chain application triggers (e.g., an dapps on chain A, can update 1 its state if some other application on chain B satisfies some search criteria (interest rate > X)), and perform general cross-chain requests between apps across chains (a smart contract on chain A can call to update a state of a smart contract on chain B). This protocol enables the composability of programs across blockchain ecosystems.
Not let’s talk about Axelar network advantages:
- For blockchain platform builders: Ability to easily plug-in their blockchains to all other blockchain ecosystems. Only a threshold account needs to be set up on the chain to plug into the network.
- For dapps builders: Application builders can host their dapps anywhere, lock, unlock, transfer assets, and communicate with applications on any other chain via CTP API.
- For users: Users can interact with all applications across the ecosystem directly from their wallets.
So, Axelar Network is a platform from developers and for developers to easily and secure communicate between different blockchain using universal APIs. Developers can also propose new viewpoints, routing, and application layer protocols, and users make decisions about whether to accept them or not.
Website — https://axelar.network
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