- Ripple partners with Axelar for seamless XRP Ledger connectivity.
- Axelar’s GMP enhances XRPL’s DeFi capabilities and cross-chain dApps.
- Integration with the Axelar network marks a milestone in blockchain interoperability.
Ripple collaborates with Axelar Foundation, ushering in seamless interoperability for the XRP Ledger across various blockchain networks. Axelar’s integration aims to enhance XRPL’s decentralized finance (DeFi) ecosystem, offering liquidity support for stablecoins and large-cap assets.
Read CRYPTONEWSLAND on
google news
Developers will leverage XRPL’s features alongside Axelar’s General Message Passing (GMP), enabling advanced DeFi capabilities and cross-chain dApp deployment. The partnership propels XRPL into Axelar’s interconnected blockchain ecosystem, fostering a more sophisticated and unified experience for developers and users.
Axelar’s GMP facilitates secure cross-chain exchanges, allowing the execution of function calls on smart contracts across 55+ connected blockchains. Beyond bridging assets, this collaboration introduces a higher level of complexity, surpassing traditional transactions and enhancing the XRPL’s utility.
Axelar’s cross-chain security approach employs permissionless proof-of-stake validation, ensuring secure connectivity between XRPL and Axelar’s hub-and-spoke network. The XRPL will integrate with Axelar’s secure cross-chain infrastructure through a multi-signature contract with 32 Axelar validators.
Georgios Vlachos, co-founder of Axelar Protocol, highlights XRPL’s addition as a DeFi and RWA innovation powerhouse within Axelar’s growing interoperable blockchain network.
Ripple’s CTO, David Schwartz, emphasizes the transformative potential of blockchain interoperability, breaking down network silos and fostering an interconnected and accessible ecosystem. This initiative builds on Ripple’s amendment XLS-38 and extends XRPL’s interoperability beyond its mainnet and sidechains, enhancing its compatibility with Axelar’s network.
Scheduled for May, the Axelar network’s integration with XRPL marks a groundbreaking step in advancing blockchain interoperability and utility. The collaboration holds the promise of driving multi-chain innovation, offering new pathways for utility and innovation within the XRPL ecosystem and beyond. Stay tuned for updates on XRPL.org and axelar.network.
Read Also
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
