Pay Attention To This Project (Dont miss the opportunity to join early enough
1. What is the project name on which blockchain network?
Axelar stack project provide a decentralized network, protocol, tools, API that allows simple cross chain communication.
Axelar isn’t built on any blockchain but rather tend to link all existing blockchain which is known as blockchain interoperability which simply means the interactions relationship in transaction of existing blockchains in the blockchain system such as Bitcoin, ethereum, etc.
2. The problem it’s providing solutions to And check if there are any competitors For the same or different blockchain networks?
Axelar is providing solution to the interoperability of blockchains in the blockchain system. Yes, Axelar Is not the first project to proffer Solution to Interoperability of blockchains projects like harmony, polkadot, Cosmos, chain link, loom network, are also providing such solution. Axelar tends to proffer solution based on simple language to the three users of the system:
For blockchain builders: Ability to easily plug in their blockchain to all other blockchains ecosystem, only a threshold account is needed to be set up on the chain to plug into the network.
For Dapps builders: Application builders can host their dapps anywhere, lock, unlock and transfer asset and communicate with application on any other chain via CTP API
For users: users can interact with all applications in the ecosystem directly from their wallet.
3. What are the unique features of this project?
Axelar network Blockchain on the verge of mass adoption and as the technology Continues to attract new use of cases from Defi to assets tokenization the solutions.
Axelar network Protocols are now more relevant than ever. By allowing a heterogeneous blockchain ecosystem to communicate and allowing their users to transact with each others from their wallets.
Axelar network connect autonomous blockchains and allows for scaled interoperability between platforms.
At start Axelar will power two foundational Decentralised protocol
Cross chain gateway protocol (CGP) which is responsible for cross chain routing
#delivery across autonomous blockchains that may run based on different consensus protocols and finality rules and even blockchains without smart contracts.
Cross chain transfer protocol (CTP) which is an application level protocol that serve as gateway, allowing applications to perform simple queries via a unified AP I to facilitate cross chain operations.
4. TOKENOMICS ?
The project developers have not released the tokenomics of the project yet but nonetheless there is a road map driven the project towards its proposed goal.
5. ROAD MAP?
Axelar has a five stages road map with which 2 stages were completed, while they are on the 3rd stage. The stages are as follow
First stage — white paper, seed financing…
Second stage- Testnet 1 goes live, initial integrations with Bitcoin and ethereum.
Third stage- which is currently on going, testnet iteration, supported arbitrary EVM chain, IBC compatibility
Fourth stage (implementation) — decentralized Assets transfer, dapps launch, applications integration with Axelar solution, general cross chain message request, on boarding of more assets.
Fifth stage- Ecosystem system application and solutions is built around Axelar network.
6. Partners and backers
Avalanchem Keplr Terra ,Moonbeam ,Chorus, Pangolin ,Cosmostation ,Metrika . Citadel one etc
Backers
Polychain capital
Dragonfly capital
Coinbase venture
Galaxy digital
Binance
Golden coin etc.
7. Team
Sergey Gorbunov
Assistant Prof at University of Waterloo
Founding member of algorand, co-author of many crypto protocols and standard.
Georgios Vlachos
Founding team member at algorand, Christian Gorenflo
Gus Gutosky Stelios Deaveas Joao souza, etc.
Conclusively, considering the experience of all the team they have a reputable years of experience in the blockchain and cryptocurency ecosystem.
8. Community
Axelar community did not have a large community yet, a total of 18k members on discord, 5k on telegram official page, about 17k followers on twitter. The reason for this is that the project is yet to be launched.
9. My opinion
Considering the aspect on communication and interoperability which this project is providing its solution we might be seeing another token like Luna, Polkadot, Cosmos and Loom network.
Also, Axelar intends being a one stop cross chain communication project which have studied the defect in each project that has been in the cross chain system before and trying to provide a better and lasting solution in the interoperability of all blockchains ecosystem and Dapps building inclusive.
Axelar, upon launch will be a project we can bet on.
Axelar token does not exist yet. Please be very careful with people who claim differently.
If there are any new developments, the community will be the first to know, so be sure to follow yhe official channels and stay tuned for the latest updates and news from the Accelerator Network.
stay safe
