Buy Axelar

Axelar is a blockchain network that aims to promote interoperability within the blockchain space. Interoperability, or securely connecting different blockchain networks, is one of the biggest challenges in the blockchain space. With Axelar, users and developers can easily communicate and transact between different blockchains without restrictions.

Blockchain networks are essentially unable to communicate with each other as each network has its own rules, protocols, and technologies. This makes it difficult to move data and assets between networks. Solutions such as bridges are often vulnerable to security risks and can be complicated to use. Axelar addresses this problem by using a unique three-layer technology stack:

• Proof-of-Stake blockchain: This is the base layer that uses a permissionless Proof-of-Stake (PoS) protocol to process cross-chain requests.
• Cross-Chain Gateway Protocol: This layer sits above the blockchain and allows validators to monitor and process cross-chain communications via smart contracts.
• API and SDK layer: This top layer enables developers to easily build decentralized applications (dApps) that work across different blockchains.

One of Axelar’s key products is Squid, a cross-chain liquidity router. Squid enables fast and secure cross-chain swaps through a user-friendly interface. It also features General Message Passing (GMP), which allows dApps to securely transfer data between blockchains.

For developers, the Axelar Virtual Machine (AVM) plays an important role. It provides a programmable layer that allows developers to deploy and manage smart contracts across multiple blockchains. This makes it easier for them to manage and scale their dApps.

The AXL token is the native token of the Axelar network. It is used for governance, staking, transaction fees, and liquidity provision. Validators earn rewards by securing the network via staking.

Who founded Axelar?

Axelar was founded by Sergey Gorbunov and Georgios Vlachos. Gorbunov has a background in cryptography and co-founded Algorand. Vlachos has extensive experience in computer science and blockchain technology. Together, they combined their expertise to create Axelar, which is managed by the Axelar Foundation, which oversees the development and growth of the network.

Axelar offers several features and use cases that benefit both end users and developers to:

• Perform cross-chain transactions: Users can easily and securely move assets between different blockchains without complex intermediate steps. This makes using multiple networks more accessible and convenient.
• Build decentralized applications (dApps): Developers can build dApps that work across multiple blockchains, allowing them to reach a larger audience and extend the functionality of their applications.
• Cross-chain liquidity: Squid allows users to quickly and securely perform cross-chain swaps, giving them access to the best trading opportunities and liquidity across networks.
• Data Passing: General Message Passing (GMP) allows dApps to securely pass data and function calls between blockchains, enabling the development of advanced, interoperable applications.
• Token management: The Interchain Token Service allows developers to easily issue and manage tokens across multiple chains, making it easier to launch and distribute new tokens.

Axelar consists of multiple layers, each with specific functions to support cross-chain interoperability.

Proof-of-Stake blockchain

The base layer is a permissionless Proof-of-Stake (PoS) blockchain. It processes cross-chain requests using a delegated PoS consensus mechanism. Validators on the network stake AXL tokens to validate transactions and secure the network. AXL token holders can delegate their tokens to existing validators to contribute to security and transaction processing, while receiving a portion of the rewards generated.

Cross-chain Gateway Protocol

The Cross-Chain Gateway Protocol sits on top of the PoS blockchain. This protocol includes smart contracts that allow validators to monitor and process cross-chain communication. This allows communication, data and token transfer between different decentralized networks. The protocol uses consensus, multi-party computation and voting to verify and process events on the blockchain.

API and SDK layer

The top layer consists of APIs and SDKs that allow developers to build dApps that work across different blockchains. These tools make it easier to create interoperable applications without deep knowledge of the underlying cross-chain mechanisms. This simplifies the development of decentralized solutions and supports the adoption of blockchain technology.

Axelar Virtual Machine (AVM)

The AVM provides a programmable layer for full interoperability. Similar to the Ethereum Virtual Machine (EVM), it allows developers to deploy and manage smart contracts directly on Axelar, instead of having to build on multiple chains. This increases efficiency and reduces the complexity of managing dApps.

Safety mechanisms

Axelar places a strong emphasis on security through a decentralized network of validators and multiple layers of security. This includes audits, bug bounties, global limits on asset transfers, and risk isolation to prevent issues from spreading across the network. Furthermore, Axelar offers a flexible and adaptable security architecture that can adapt to the needs of different applications.

The AXL token is the native token of the Axelar network and plays a central role in this ecosystem. Its main functions are governance, staking, transaction fees and liquidity provision. Users can stake AXL tokens to participate in the decentralized governance, where they can vote on important decisions such as inflation, reward structures and the addition of new blockchains.

AXL tokens are also used to pay transaction fees within the network. Validators who stake AXL tokens earn rewards for securing the network and processing cross-chain transactions. This staking mechanism contributes to decentralization and security.

The total capped supply is 1 billion AXL tokens, issued at the genesis block and distributed to team members, operational costs, investors, and community programs. The tokenomics are designed to have a deflationary effect, with gas fees being burned to support the long-term value of AXL.

By staking AXL tokens, users can contribute to the security of the network and validate transactions, for which they receive rewards. To stake AXL, you first need to acquire the tokens through a platform such as Bitvavo. You can then deposit the tokens into a wallet that supports staking, such as MetaMask or Trust Wallet.

You can delegate AXL tokens to a validator on the Axelar network directly from your wallet. Validators are responsible for validating transactions and securing the network. In return for their services, they receive rewards in the form of additional AXL tokens. Staking AXL is easy and accessible for both beginners and advanced users, and contributes to the decentralization and security of the Axelar network.

Axelar stands out with a series of unique features that make it different from most crypto projects:

• Interchain Amplifier: Makes it easy for developers to add new blockchains to the network via smart contract templates, facilitating integration and scalability.
• General Message Passing (GMP): This allows dApps to securely transfer data and function calls between blockchains, going beyond traditional bridges and expanding interoperability possibilities.
• Axelar Virtual Machine (AVM): The AVM provides a programmable layer for deploying and managing smart contracts across multiple blockchains, allowing developers to work more efficiently and flexibly.
• Squid: This user-friendly cross-chain liquidity router enables fast and secure cross-chain swaps, giving users easy access to liquidity across networks.
• Extensive security measures: The audits, bug bounties and risk isolation are aimed at ensuring the security of the network, allowing users to have confidence in the security of their assets.
• Permissionless Connection: Axelar enables new blockchain projects to instantly join the network without permission, boosting network adoption and growth.
• Large network of integrations: Axelar already has integrations with prominent DeFi platforms, wallets, and major enterprises, making it a versatile and well-connected player in the blockchain space.

You can purchase Axelar (AXL) at Bitvavo. Our platform is suitable for both beginners and experienced traders. Follow these steps to easily purchase AXL tokens via our website or app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Go to the Axelar (AXL) buying page.
4. Enter the amount in euros you wish to spend or the number of AXL tokens you want to buy and click "Buy".

After your purchase, your AXL tokens are automatically added to your Bitvavo account, where you can easily manage and trade them. Selling AXL tokens is just as easy, allowing you to quickly respond to market changes.

You can safely store AXL tokens in your Bitvavo account. Bitvavo keeps the majority of assets in cold storage, which means they are stored offline for extra security. For extra protection of your account, we recommend enabling two-factor authentication (2FA).

Many software and hardware wallets support AXL. After purchase, you can easily transfer your AXL tokens to an external wallet by linking the wallet address to your Bitvavo account. This gives you full control over your cryptocurrencies and increases the security of your digital assets.