Axelar is a decentralized blockchain network built to connect different blockchains. Think of Axelar as the “internet router” of Web3. It helps apps, users, and assets move across different blockchains, like Ethereum, Cosmos, Avalanche, and many more, without needing complicated bridges or manual steps.
The History of Axelar
Axelar was founded in 2020 by Sergey Gorbunov and Georgios Vlachos, two researchers who previously worked on the Algorand blockchain. They launched the Axelar network to address the growing problem of blockchain fragmentation.
In early 2022, the Axelar mainnet officially went live. Since then, the project has expanded, becoming one of the most trusted interoperability platforms in the space.
Axelar is backed by top-tier investors like Binance, Coinbase Ventures, Dragonfly, and Polychain. Its technology is used by entities including Uniswap, Lido, Celestia, MetaMask, and even global institutions like Mastercard and Microsoft.
Axelar the Network
Axelar is a layer-one blockchain with one mission: to connect the disconnected.
- A Network of Gateways: Axelar runs smart contracts called gateways on every blockchain it connects to. These gateways let Axelar receive transactions on one chain and send them to another.
- Validators Keep It Secure: A decentralized group of validators confirms and secures transactions across the network. These validators use a proof-of-stake system, meaning they lock up AXL tokens to earn the right to participate and get rewarded.
- Developer-Friendly Tools: Axelar makes life easier for builders. Its APIs, SDKs, and Virtual Machine allow developers to plug their apps into multiple blockchains without writing custom code for each one.
- Smart Transport Layer: Unlike traditional “bridges,” which act like simple tunnels between two points, Axelar is a smart transport system. It can run logic, execute contracts, and automate cross-chain processes through something called General Message Passing (GMP).
AXL: The Native Cryptocurrency
AXL plays several roles in powering and securing the Axelar network.
Here’s what it does:
- Security through Staking: AXL holders can stake their crypto to support validators and help secure the network.
- Decentralized Governance: AXL holders can vote on proposals and protocol upgrades.
- Fee Payments: AXL is used to pay for network operations.
- Ecosystem Growth: AXL rewards go to validators, developers, and users, helping to grow and sustain the network over time.
Buy & Sell Axelar (AXL) at iTrustCapital
For those looking to buy and sell AXL, platforms like iTrustCapital provide access to a tax-advantaged Crypto IRA* and Non IRA Premium Custody Account.
*Some taxes may apply.
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