Axelar in simple words. Introduction.
The cryptocurrency world is filled with a huge number of blockchain networks by the end of 2021, compared to a few years earlier. Users, especially newcomers, find it difficult to navigate this space. Many lose money by sending it incorrectly to another blockchain. The Axelar project is helping to bring order to all this confusion. There is now a unified mega-bridge for all of this.
“Axelar stack provides a decentralized network, protocols, tools, and APIs that allow simple cross-chain communication. Axelar protocol suite consists of cross-border routing and transfer protocols. A decentralized open network of validators powers the network; anyone can join, use it, and participate. Byzantine consensus, cryptography, and incentive mechanisms are designed to achieve high safety and liveness requirements unique for cross-chain requests.”
For example. You speak Spanish, your friend speaks Japanese, and your girlfriend speaks English? You don’t need to use gestures, a translator or anything else — users just send the information to Axelar and get a clear result. That’s what’s so great about this project.
Validators are responsible for the transparency and honesty of the network. These are the Nodes in the blockchain system that take on the task of keeping the network up and running. Nodes communicate via the byzantine consensus protocol. This is a guarantee of trustworthiness for each participant, so there is no need for third-party involvement.
The project solves problems of scalability, accessibility and transparency.
1. Assets such as tBTC, WBTC are only available in a specific blockchain, on the smart contract on which they were written. Now there is no need to wrap your bitcoin — just use Axelar service.
2. You don’t understand how to send MATIC from ERC20 blockchain to MATIC wallet in Polygon blockchain? — Just use Axelar service.
3. You don’t know where to track your transaction — use solscan or maybe etherscan? Yes, just use Axelar service.
And lastly I want to show you the backers of Axelar. It’s an amazing list, isn’t it?
I think that thanks to Axelar there will be more happy people in the cryptocurrency community, because their problems will be solved. In addition, the entry threshold to the world of cryptocurrency will decrease, which means more people will use cryptocurrency. Isn’t that a miracle?
Good people should use good services.