Axelar Launches Interchain Amplifier On Testnet, Integrating New Blockchains In Coming Weeks
In Brief
Axelar announced that its Interchain Amplifier is now on testnet and will enter a testing phase soon, onboarding new chains in coming weeks.
Full-chain Layer 1 platform, Axelar announced that its Interchain Amplifier is now live on the testnet and will enter a testing phase soon, onboarding new blockchains in the coming weeks. This development is anticipated to advance blockchain interoperability.
Interchain Amplifier’s features enable seamless connections between various blockchain consensus engines and traditional off-chain systems, requiring minimal effort from developers. By using Axelar’s network, developers can access multiple interconnected blockchains and “amplify” their resources, essentially covering the cost of establishing just one connection. Key elements of this system include an on-chain message router, gateways, and CosmWasm methods for sending and receiving messages.
By leveraging on-chain smart contracts within its framework, the system utilizes the security features of the Axelar network to effectively create new cross-chain connections. This approach enhances its application scope, increases liquidity, and helps attract a larger user base.
Currently, the system integrates several networks, including Bitcoin Layer 2 network Stacks, the Moonriver Network, the open-source proof-of-stake (PoS) blockchain Hedera, and the privacy-focused network Iron Fish. Launched in May, this integration aims to enhance interoperability across a wide range of blockchains, such as Bitcoin, Ethereum, Ethereum Virtual Machine (EVM) blockchains, IBC, and Hedera, as well as 64 other networks.
Axelar To Serve As Cross-Chain Protocol For XRPL EVM Sidechain
It provides secure cross-chain communication for Web3, allowing developers to create Interchain decentralized applications (dApps) that extend beyond a single blockchain. This capability enables builders to offer users a seamless experience, allowing interaction with any asset or application on various blockchains. It is based on proof-of-stake (PoS) technology, a proven method also employed by Ethereum, Polygon, Cosmos, and other platforms.
Recently, the XRP Ledger, supported by Ripple, announced its intention to launch the XRPL EVM sidechain, with Axelar serving as the sole cross-chain protocol. Axelar will facilitate the conversion of XRP into wrapped XRP (eXRP), which will function as the native token for gas fees on the new sidechain.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
