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: securely exchanging data and assets between networks that normally operate independently.

Instead of improving a single specific blockchain, Axelar mainly functions as a connecting layer. Developers can use it to build applications that operate on multiple blockchains at once, 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 takes care of the transfer and verification of that information.

An important part of this is General Message Passing (GMP). With this, not only tokens but also instructions and data can 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 operates across multiple blockchains.

The AXL token

AXL is the native token of the Axelar network and forms the economic basis 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 offers developers a single uniform way to access multiple blockchains. As a result, they need to worry less about differences between networks, which simplifies the development of multichain applications.

The Axelar ecosystem

Axelar is used as an infrastructure layer by various types 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 mainly serves as a building layer; the concrete applications are developed by external teams.

Benefits of Axelar

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

Disadvantages of Axelar

• Depending on the validator network: Axelar uses 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 backgrounds in cryptography and distributed systems and were already involved in blockchain research and infrastructure development before Axelar.

The further development of the network lies with a broader team, with an emphasis on the protocol and the ecosystem, not on individual people