Stacks, Moonriver Network, Hedera, And Iron Fish To Participate In Axelar’s Interchain Amplifier Program
In Brief
Axelar will interconnect the ecosystems of Bitcoin, Hedera, and Polkadot blockchains with its Interchain Amplifier.
Full-chain Layer 1 Axelar announced its intentions to interconnect the ecosystems of Bitcoin, Hedera, and Polkadot blockchains.
Axelar’s Interchain Amplifier will initially focus on integrating the Bitcoin Layer 2 network Stacks, the Moonriver Network, the open-source proof-of-stake (PoS) blockchain Hedera, and the privacy network Iron Fish. This initiative aims to achieve interoperability across various blockchains, including Bitcoin, Ethereum, EVM chains, IBC, and Hedera, among other 64 networks.
Built on the Axelar virtual machine, the Interchain Amplifier facilitates automatic connections across different types of blockchains, while the resulting cross-chain connection is exposed through smart contracts rather than through the protocol layer. Upon integration with the Axelar mainnet, the Amplifier will automate routing and translation processes across Axelar’s network of blockchains.
Utilizing on-chain smart contracts in its framework, Amplifier uses the security guarantees provided by the Axelar network to efficiently establish new cross-chain pathways, thereby broadening its range of applications, liquidity, and attracting more users.
Interchain Amplifier has been operational on Devnet for approximately one week. This service attracts a variety of innovative protocols and networks within the industry, facilitated through a pilot program managed by Interop Labs to assist early adopters.
Enhancing Scalability With Interchain Amplifier Upgrades
Axelar facilitates secure cross-chain communication for Web3, empowering developers to create Interchain decentralized applications (dApps) capable of expanding beyond a single blockchain. The security aspect of Axelar is reinforced by its utilization of the battle-tested PoS mechanism, used by platforms such as Ethereum, Polygon, and Cosmos. Meanwhile, cross-chain communication enables developers to facilitate complete user experiences, allowing seamless interaction with assets and applications across multiple blockchains with a single click.
As part of its roadmap for 2024, Axelar has detailed its intentions to prioritize the enhancement of its Interchain Amplifier to bolster its scalability advantage. Axelar’s goal is to introduce a universal “router” smart contract, subject to governance approval, which will facilitate the routing of traffic to any of the other interconnected ecosystems.
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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.
