Vision of the future interoperability with Axelar
Introduction
Axelar is a generic overlay network that provides Web3 internetwork security. Axelar, through transport-layer composability, allows dapp developers to provide secure experiences on any blockchain.
Comparison of Axelar with the rest on the market
Axelar is the right solution for secure communication between networks. The network is based on Proof-of-Stake consensus without permission, like the chains Axelar connects, so the network does not add new assumptions.
Axelar also provides any-to-any connections, and the new connection, accordingly, is automatically connected to other interconnected chains and creates a strong overlay effect.
Basically, Axelar competes on the market with centralized pairwise bridges — multisigs. Axelar is a very strong competitor.
The difference between Axelar and LayerZero
LayerZero is a 2/3 resolution multi-signature (Polygon, Sequoia) message format based on oracle and relay security. LayerZero does not solve the problem of oracles and developers use it as they wish.
Axelar uses a different multi-signature, therefore all existing solutions are centralized and paired bridges.
Web3 secure internetworking
Get Olga7’s stories in your inbox
Join Medium for free to get updates from this writer.
Axelar is built on the proof of stake used by Avalanche, Cosmos, Eth2 and can therefore be considered secure. Axelar solves the problem of interacting with Web3.
Axelar no longer needs to work directly with bridges. For Web3 interoperability and Axelar interoperability as usual and allows liquidity to move, it makes it easy for users to interact with various applications as well as with assets in any blockchain ecosystem.
Protocols supporting Axelar Network
Axelar supports two main protocols. These are the Cross-Chain Gateway Protocol (CGP) and the Cross-chain Transfer Protocol (CTP).
1. Cross-Chain Gateway Protocol (CGP) is responsible for cross-chain routing and delivery over autonomous block chains operating on the basis of various agreed protocols and finality rules, as well as different technology stacks and even block chains without smart contracts.
2. Cross-chain Transfer Protocol (CTP). It is an application layer protocol that acts as a gateway and also allows applications to make simple requests through a unified API (eg FTP, HTTP/HTTPS), facilitating cross-chain operations. Dapps send CTP protocol requests to special gateways on different blockchains, and the CGP protocol is responsible for delivering them across the network to the correct destination blockchains and returning the results to the sending applications.
Conclusion
Axelar is a secure PoS transport layer without permissions. Axelar provides general messaging and linkability between dApps with any-to-any connectivity, not just paired connections.
The Axelar Platform is an ecosystem and developer stack for interoperability.
Axelar interoperability in Web3: no need to work directly with bridges anymore. Axelar interacts with Web3, is interoperable, allows liquidity to move, and makes it easy for users to interact with applications and assets in blockchain ecosystems.
Axelar has grown rapidly and continues to grow and improve its ecosystem. I see Axelar in the future as a secure, interoperable network with seamless bridges and applications, with full interoperability across blockchains.
Posted by Olga7#3035
