Axelar is a decentralized interoperability platform that connects multiple blockchain ecosystems, enabling seamless cross-chain communication and asset transfers through programmable smart contracts. This technology addresses the fragmentation of blockchain networks, allowing developers to build and deploy applications across various chains with minimal latency and enhanced security.
Funding
$63.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The increasing number of blockchain networks leads to fragmentation, making it difficult for users and applications to seamlessly interact and transfer assets across different chains. This siloed environment hinders the potential for widespread adoption and innovation in the Web3 ecosystem.
Solution
Axelar provides a decentralized interoperability platform that connects various blockchain ecosystems, enabling cross-chain communication and asset transfers. The platform's open stack allows developers to build and deploy applications across multiple chains, customizing security and latency. Axelar supports smart contracts at the cross-chain layer, delivering chain abstraction for both users and developers. The network utilizes a proof-of-stake verification mechanism and application-layer policies like rate limits to mitigate risk.
Target Audience
The primary audience includes DeFi, RWA, infrastructure, wallet, and enterprise developers looking to build and scale decentralized applications across multiple blockchain networks.
Features
- Cross-chain communication via a decentralized network of validators
- Support for smart contracts, enabling programmable interoperability
- Interchain Token Service (ITS) for maintaining fungibility of ERC-20 tokens across chains
- Axelar Virtual Machine for expanding the network from message passing to a fully programmable cross-chain layer
- Customizable security and latency parameters for cross-chain connections
- Support for rebalancing tokenized assets across different chains
- Compatibility with over 69 blockchains