- Web3 cross-chain protocol Axelar has announced the integration of over 60 chains including Stacks, Moonriver, Hedera Network, and Iron Fish into its Interchain Amplifier devnet-phase pilot.
- The Interchain Amplifier is a smart-contract-based developer toolkit that automates routing and translation across Axelar’s blockchains, making new-chain integrations permissionless.
- Axelar, founded in 2020, is a decentralized interoperability network connecting all blockchain ecosystems and applications, backed by major players like Binance, Coinbase, Dragonfly, Galaxy, and Polychain.
Axelar’s Interchain Amplifier welcomes over 60 chains, including Stacks, Moonriver, Hedera Network, and Iron Fish, promising seamless permissionless connectivity across major blockchain networks.
Interchain Amplifier: A Game-Changer in Blockchain Interoperability
The Interchain Amplifier is a groundbreaking service that offers permissionless connectivity across major blockchain networks, including Bitcoin, Ethereum, EVM chains, IBC, Hedera, and 64 more chains. The toolkit is designed to automate routing and translation across Axelar’s blockchains, making the integration of new chains permissionless. This development is a significant step towards achieving seamless interoperability in the blockchain space.
Axelar: A Pioneer in Decentralized Interoperability
Axelar, co-founded and launched in 2020 by Georgios Vlachos and Sergey Gorbunov, is a decentralized interoperability network that connects all blockchain ecosystems and applications. The network is backed by industry giants like Binance, Coinbase, Dragonfly, Galaxy, and Polychain. Axelar’s mission is to facilitate secure cross-chain communication for Web3, enabling decentralized application (dApp) users to interact with any asset or application, on any chain, with a single click.
Axelar’s Funding and Expansion
In 2022, Axelar secured $35 million in a funding round, bringing its valuation to $1 billion. The funding was used to support Axelar’s expansion as it continued to roll out its mainnet. This followed the company’s previous $25m Series A raise in mid-2021. In 2023, in collaboration with Ondo Finance, Axelar unveiled the Ondo Bridge, a cross-chain mechanism designed to facilitate easy transfers of Ondo tokens across blockchains, fostering liquidity while ensuring price stability.
Conclusion
The integration of over 60 chains into Axelar’s Interchain Amplifier marks a significant milestone in the blockchain industry, promising seamless and permissionless connectivity across major blockchain networks. As the blockchain space continues to evolve, such developments are crucial in fostering interoperability and enhancing the overall user experience.
