Axelar: everything you need to know about AXL

What is Axelar?

Axelar is a network built to enable different blockchains to work together. The project focuses on interoperability: the secure exchange of data and assets between networks that normally operate independently.

Instead of improving one specific blockchain, Axelar primarily serves as a connecting layer. Developers can use it to build applications that operate across multiple blockchains simultaneously, without having to set up separate infrastructure for each chain.

How does Axelar work?

Axelar consists of its own network of validators that validate and execute cross-chain messages. When an application wants to perform an action on another chain, Axelar handles the transfer and verification of that information.

An important part of this is General Message Passing (GMP). This allows not only tokens but also instructions and data to be sent between blockchains. For developers, this makes it possible to add cross-chain functionality without building complex, chain-specific solutions.

For end users, this technology largely remains in the background. Interactions feel like a single application, even though the logic plays out across multiple blockchains.

The AXL token

AXL is the native token of the Axelar network and forms the economic foundation of the protocol. The token is used for:

• Securing the network via staking
• paying network fees
• participation in governance

The technology behind Axelar

Axelar is built on a Cosmos-based architecture and uses a proof-of-stake model. Validators jointly ensure the security of the network and the correct processing of cross-chain messages.

The technology provides developers with a single uniform way to access multiple blockchains. As a result, they need to account for fewer differences between networks, simplifying the development of multichain applications.

The Axelar ecosystem

Axelar is used as an infrastructure layer by various kinds of projects, including:

• Cross-chain DeFi applications
• Multichain bridges
• NFT and gaming projects that support multiple blockchains
• Applications that want to distribute data or functions across chains

The protocol itself primarily functions as a building layer; the concrete applications are developed by external teams.

Benefits of Axelar

• Connects multiple blockchains: enables communication and interaction between different networks
• More than just transfers: supports both token transfers and data and messaging traffic between chains

Disadvantages of Axelar

• Depending on the validator network: Axelar operates with its own network of validators that must continue to function properly for secure communication between chains.
• More technical complexity: connecting multiple blockchains, messages, and integrations makes the system more complex than a single-chain network.

Who are the founders of Axelar?

Axelar was founded by Sergey Gorbunov and Georgios Vlachos. Both founders have a background in cryptography and distributed systems and were already involved in blockchain research and infrastructure development before Axelar.

The further development of the network rests with a broader team, focusing on the protocol and the ecosystem, not on individual people.