Cryptocurrencies

Axelar prepares interoperability bridge mainnet for February launch

Axelar is readying for the launch of a highly anticipated undiversifiable bridge public mainnet set to send shockwaves through the digital asset space.

The public mainnet launch will initially see the open and permissionless Axelar interoperability protocol attempt to universalise blockchain interoperability between Ethereum, Avalanche, Fantom, Terra, and Moonbeam.

This will be extended to other blockchains featured in the Axelar testnet such as Polygon, Polkadot, and Cosmos by the end of 2022.

Axelar’s preparations follow an impressive $25m Series A capital raise conducted last year by Polychain Capital – a move which saw both Coinbase and Binance back the interoperability project.

Cross-chain asset transfers

Interoperability synthesised into one protocol could revolutionise the way in which cross-chain asset transfers and information exchange takes place, with Axelar’s Satellite dApp offering immediate cross-chain capability to end users.

Speaking on the announcement, Do Kwon – the man behind the Terra/Luna ecosystems – spelled out exactly how significant this protocol would be for the industry.

“Axelar has built a highly impressive solution that empowers developers to build on the blockchain networks that directly fit their goals and needs while providing an easy-to-use platform suitable for any programming language,” he said.

“Even now, at the beginning of their journey, it’s patently clear that Axelar’s universal interoperability network will have a significant impact on how blockchain ecosystems communicate and interact. It is technology like this that will ultimately enable blockchain and web3 to reach mainstream adoption.”

Axelar take aim at development community

The mainnet launch will see developers invited to build directly on top of the Axelar network through the newly created APIs and the Axelar Software Development Kit (SDK), explained Axelar’s CEO Sergey Gorbunov.

“Developers and their decentralised applications will be able to leverage Axelar to unlock the full potential of multiple ecosystems, scale their applications, and reach wider distribution,” he said.

“Our ultimate goal is to allow builders and users to interact and build on top of any blockchain network satisfying their requirements while ensuring composability and information flow with all other ecosystems and users.

“This mainnet launch is only the beginning, with continued improvements and developments around the corner for our network.”