Axelar (AXL) and the Future of Ethereum Scalability

OdailyNews
2024-02-16 23:08:22
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This is just the beginning of cross-chain narratives.

Q: In a new L2 and L3 Ethereum ecosystem that is constantly evolving, what does "scalability" mean?

A: Programmable Interoperability ------ a long word for a simple idea

Cross-chain bridges, despite often having poor user experiences and security risks, have become synonymous with blockchain interoperability. A new generation of arbitrary messaging protocols has begun to change this narrative ------ for example, Chainlink CCIP, LayerZero, Wormhole, and Axelar's General Message Passing.

Now, programmable interoperability is the next step in the cross-chain narrative ------ at a critical moment when modular infrastructures like Celestia and Eigenlayer are emerging, signaling that the Ethereum ecosystem will be more decentralized than ever. With programmable interoperability:

  • Users on any EVM chain can easily interact with applications and assets on any other chain with just one click.

  • Simple connections for new EVM chains, with low developer overhead ------ covering any consensus method (e.g., ZK proofs).

These two requirements need more than just a sequencer and a bridge. Only a programmable interoperability layer can achieve L2-based scaling across applications and blockchains in the Ethereum ecosystem. Axelar has already begun integrating with projects such as Celestia, Eigenlayer, and other key Ethereum ecosystem scaling components like Lido and Frax. Together, these projects build a platform that enables fast and easy scaling for EVM-compatible applications and others.

Axelar is a programmable platform for connecting different blockchains. Through the Axelar Virtual Machine, cross-chain functionality is automated and abstracted, creating a unified user experience and developer experience across multiple blockchains. This makes scaling in Web3 similar to the scaling achieved by SaaS components in Web2.

  • Abstracted for users. Through general messaging, applications can send any payload and trigger multiple function calls across chains, achieving a one-click user experience (UX).

  • Abstracted for application developers. Cross-chain token services automate the complex tasks involved in managing token supply across multiple chains.

  • Abstracted for blockchain developers. Cross-chain amplifiers automate new chain connections, immediately achieving network effects and arbitrary-to-arbitrary interoperability.

With programmable interoperability, cross-chain connections become simple, seamless, and hidden beneath the surface. Applications built on EVM L2 can scale across the entire Ethereum ecosystem. Developers can "build once, run anywhere."

Architecture Designed for Scaling

Axelar connects 56 blockchains, more than any other cross-chain network.

Axelar (AXL) and the Future of Ethereum Scaling

Cross-chain amplifiers will accelerate this advantage, allowing hundreds or even thousands more blockchains to connect quickly and easily. The cost of establishing cross-chain connections is high and not reusable. Cross-chain amplifiers abstract this complexity for developers: a unified user experience across EVM chains is a plug-and-play component for RaaS (rollup-as-a-service) and RDKs (rollup development kits) for building applications on new L2s.

Just 100 blockchains equate to about 4,950 potential connections. Pairwise networks can never scale.

For an ecosystem composed of hundreds (let alone thousands) of blockchains, a hub-and-spoke topology is needed. Each new connection immediately gains a one-hop route to any other connected chain ------ this is the shortest path to achieving scalability!

Axelar (AXL) and the Future of Ethereum Scaling

"The Kubernetes of Web3"

The Axelar Virtual Machine (AVM) is a fully functional, Turing-complete state machine that provides a natively multi-chain programmable environment. It allows applications to deliver a unified user experience across multiple chains ------ representing minimal workload for developers.

For more information about AVM, visit here;

The AVM has two main components:

  • Cross-chain amplifiers allow developers to establish connections to the Axelar network without permission. The end result is scalable cross-chain technology that can adapt to future developments at the network layer.

  • Cross-chain Maestro allows developers to scale quickly, with minimal additional workload. Its motto is: build once, run anywhere ------ this is a Kubernetes for Web3.

Recently, the first component of Cross-chain Maestro went live on the mainnet: the Cross-chain Token Service (ITS) automates the creation and management of cross-chain tokens moving across multiple chains, with native-like fungibility and customization features. Learn more about cross-chain tokens or try the no-code portal: create a cross-chain token and win 10,000 AXL.

This is just the beginning of the cross-chain narrative.

Axelar Website

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