Hi everyone, I am Fatty!
Today I will talk to you about "AXL", "The Embodiment of Cross-chain Technology-Axelar". We opened the door of Web3 through the track of DID, and we entered the world of Web3.0. So what does the Web3 world we see look like? One thing is for sure, that is, the world of the Internet of Everything and the empowerment of "cross-chain technology". "Cross-chain" is no longer a hot word, but the traditional method cannot be applied to the blockchain. Developers of blockchain and application programs need to understand different communication protocols and cannot focus on building their own platforms. This can not help but make the utilization of the respective platforms limited and hinder the progress of civilization, which is contrary to the essence of the blockchain, so an "interface" that can truly integrate all blockchains is needed. Just like reality and the metaverse will achieve "virtual-real linkage", so we can quickly find the solution through the mapping of the real metaverse. It is Axelar. 
What the Axelar project side has to do is to connect all blockchain assets and applications through a set of common protocols and APIs, which is a new type of "Layer 1 and 2 unicorns" for blockchain developers. Through Axelar's "cross-chain gateway protocol CGP", its blockchain can be easily inserted into the open blockchain network built by Axelar to interact with other blockchains. "CGP" is equivalent to the border gateway protocol on the Internet. Blockchain developers can easily implement cross-chain. For application DApp developers, they can use the "Cross-Chain Transfer Protocol CTP", which is equivalent to "http Hypertext Transfer Protocol" to complete the application development. And it can realize simple cross-chain communication. For users, they can log in to any application in the blockchain and enjoy the Web3 world of the Internet of Everything by directly using the wallet. Among them, AXL is the native token of the Axelar network. First, AXL holders can use AXL to "deposit shares" to vote on proposals. In addition, AXL is used as the transaction token of the Axelar network. Users need to pay AXL to the operator when conducting cross-chain transactions and network value-added services. The Axelar network uses a Dpos-like entrusted proof of rights and interests. The full name is Delegated Proof of Steake. (Interested friends are welcome to leave a message or si/wV: L12181024)
I think "Delegated Proof of Stake" is more appropriate because the core of Axelar is the co-management of "Axelar Validators" and "Threshold Cryptography". Users vote to select validators, and validators must bind their own shares. This is a consensus algorithm based on voting. The rules for confirming and processing cross-chain requests are encoded in a distributed test protocol. Since there are verifiers to execute together, you can simply understand the "cross-chain information behavior" of the Axelar network as a decentralized state converter submitting on the network A request triggers a transition from "one state" to "another state". About its token economy project name: Axelar, token name: AXL. A total of 1 billion pieces is expected to be unlocked around May 11, 2022 and divided into nine months of linear release. The founders of Axelar are all core members from "ALGO" and graduated from the Massachusetts Institute of Technology. They have rich experience in cryptography and encryption protocols. experience. Its co-founder Sergey won the best doctoral dissertation award in the field of computer science. At the same time, Axelar has won the favor of many investors in a short period of time. Axelar received a seed round of financing of 3.75 million US dollars on July 2, 2021.
Two weeks later, it received $25 million in Series A financing, led by PolychainCapital (multi-chain capital), and many investors followed suit. On February 15, 2022, it received a $35 million B round from investors including PolychainCapital. Financing, the latest valuation reached 1 billion US dollars! Judging from the scale of financing, Axelar's heavyweight can be seen in general! You must know that Polkadot and Cosmos on the cross-chain track have set sail a hundredfold. In addition, the PolychainCapitl I mentioned deliberately was created by Olaf Carlson-wee, who was the first employee of Coinbase. When Bitcoin falls from $17 to $2 in 2021, it is still "full net worth"! Firmly believe that BTC is valuable. In 2015, he believed that the development of the cryptocurrency ecosystem will see many different protocols to solve the details of the industry, so in 2016 he founded the first cryptocurrency fund Polychain Capital, which can stand at a high level and see the blockchain industry landing direction. It has become one of the most famous investment institutions in the global encryption investment field, and this time it is a big investment twice! We have to have a strong interest in Axelar. Therefore, based on the analysis of the above research report, Axelar enables blockchain developers to easily and seamlessly insert their own blockchain into the Axelar network. It provides a complete solution for cross-chain communication, allowing DAPP developers to interact with integer blocks. chain ecosystem integration. Allow users to directly enter any application through the wallet and truly enter the Web3.0 world. This is not just an upgrade of cross-chain technology. You must know the development of technology in the past, look at "Silicon Valley" and today's technology, look at "blockchain"! The Internet has brought about the third industrial revolution, and I think the blockchain will set off the "fourth" The second industrial revolution" is shared here today, interested friends can leave a message!