Axelar AXL Price

What is Axelar (AXL)?

In the dynamic landscape of blockchain technology, Axelar (AXL) has emerged as a trailblazer, offering secure cross-chain communication for Web3. Founded in 2020 by Georgios Vlachos and Sergey Gorbunov, both Algorand veterans, Axelar provides a decentralized network, an SDK of protocols and APIs, and gateway smart contracts to facilitate seamless communication between decentralized applications (dApps) across various blockchains. The project operates on a proof-of-stake (PoS) consensus mechanism, a robust approach employed by industry giants like Ethereum and Polygon. What sets Axelar apart is its commitment to secure cross-chain communication over a dynamic validator, utilizing PoS for enhanced reliability.

Axelar's native token, AXL, is the linchpin of its ecosystem, supporting cross-chain transfers and serving as a utility token for decentralized security and governance. The project boasts key integrations with major blockchain networks, including Ethereum, Cosmos, Terra, Avalanche, and more. A testament to its success, Axelar's Satellite demo app garnered over $30 million in total value locked shortly after release. The Axelar network, launched in February 2022, aims to foster web3 interoperability, allowing developers to build cross-chain applications effortlessly. Mastercard's selection of Axelar for its Start Path program in April 2023 further underscores its potential, as the project collaborates with the fintech giant to explore innovative solutions in the payments space.

In the ever-evolving blockchain ecosystem, Axelar continues to make strides, not only providing a robust infrastructure for secure cross-chain communication but also gaining recognition from industry leaders and investors. As Axelar advances, it reinforces its commitment to simplifying the development process for dApps, offering a gateway to a decentralized web where users can interact with any asset or application seamlessly across various blockchains.

What is unique about Axelar (AXL)?

Axelar stands out for its secure cross-chain communication using a dynamic validator on a proof-of-stake consensus mechanism, streamlining decentralized application (dApp) development without the need to learn new programming languages.

Who are the founders of Axelar (AXL)?

Axelar was founded in 2020 by Georgios Vlachos and Sergey Gorbunov, both pivotal members of Algorand's founding team, with Georgios designing the Algorand consensus protocol and Sergey contributing to the standardization of BLS signatures.

Who are the backers/investors of Axelar (AXL)?

Axelar has secured support from top-tier investors, including Binance, Coinbase Ventures, Dragonfly Capital, and Polychain Capital, highlighting its credibility and potential in the blockchain space.

Where can I buy Axelar (AXL)?

You can buy Axelar (AXL) on Binance, Bitget, MEXCBybitGate.io cryptocurrency exchanges.