Algorand-Linked Axelar Raises $3.75M in Seed Funding to Help Blockchains Communicate
Axelar is a decentralized protocol designed by the founding members of Algorand to make it easier for dapps to work across blockchains.
Allowing tokens to zip between chains could open up opportunities in decentralized finance; a service on one network could lend an asset from another.
The last step before inter-blockchain communication goes live early Thursday.
We need more researchers and better metrics in DeFi to fulfill the promise of a more robust and transparent financial infrastructure.
The vision of "one network, many chains" could be fast approaching.
Our fragmented status quo – thousands of tokens, hundreds of dapps – will not work indefinitely without interoperability.