What future awaits us?
Cryptocurrency is becoming more popular. But also more fragmented, because there are dozens of blockchains, which is not very convenient in terms of use, as well as in terms of the distribution of liquidity, which is concentrated in larger players.
Ethereum and its L2 solutions; blockchains that support EVM (Fantom, BSC, Avax, etc.); Solana; Cosmos; Terra and many others. Each blockchain seeks to get its share of users.
Some are taking the path of least resistance by joining the biggest players like Ethereum. Others build entirely their own infrastructure.
But even in this scenario, blockchains need to be connected to other blockchains.
One can single out Polkadot, in which projects are united by a single network, but, in my opinion, this is a very slow development and lack of innovation (all innovations appear on other blockchains) and I don’t know when we will see a fully working version.
Now there are bridges between blockchains, which are a kind of crutches, because they solve the problem only partially. And a huge number of bridges is not entirely safe, because it is the junction of blockchains that is the weakest point.
That's why Axelar comes into play.
Axelar is a cross-chain solution for merging many popular blockchains with a decentralized structure to provide sufficient security.
In a very short and simple way, Axelar is a decentralized network that provides communication between various blockchain ecosystems based on protocol SDKs and APIs.
Just imagine that you can, having tokens on one blockchain, interact with decentralized applications running on other blockchains!
This opens up horizons for application developers who can develop applications in a convenient ecosystem and make these applications available to users of other blockchains!
The message is clear: Merging blockchains will make the use of cryptocurrencies even more convenient, but what about security?
The Axelar network is decentralized and supported by validators. The main purpose of the validators is to reach consensus on the state of the various blockchains that Axelar is connected to. Seeking consensus among validators is the protection of the Axelar network. The mechanism itself is called Delegated Proof-of-Stake.
It is also necessary to mention that Axelar is backed by reputable institutional investors in crypto: Polichain Capital, Coinbase Ventures, Binance, Dragonfly Capital, etc.
In conclusion, I would like to say that this is the future that is more correct for the development of crypto. After all, the coexistence of various blockchains connected to a common network through Axelar supports the general idea of decentralization embedded in cryptography as the main dogma.
Do not forget to Subscribe to the social network Axelar:
And, if possible, participate in all the activities that are carried out by the project.
