Polygon (MATIC) gets integrated into Axelar for cross-chain communication
Axelar, the decentralized interoperability network that connects blockchain ecosystems, applications and users, has announced the integration with Polygon, the Layer 2 network on the Ethereum protocol that has been growing strongly over the last few months.
The idea behind the integration is to bring in interoperability between Polygon and the different blockchain ecosystems so that the users and the developers on Polygon would be able to move across chains and continue their work and usage as usual, with little extra effort, if any.
Sergey Gorbunov, Co-founder, and CEO of Axelar commented: “Polygon is an ambitious and well-established company that’s performing incredibly well in helping Ethereum ecosystem scale, so it was an obvious choice for our integration roadmap. We’re excited to see how Polygon’s dapp builders will utilize seamless, cross-chain interoperability to facilitate asset transfer and increase liquidity. This interoperability will enable Polygon users to safely expand their internet of blockchains beyond Ethereum, to include chains like Bitcoin, Avalanche, and Terra.”
The improvement and addition of interoperability will also improve the liquidity of the network as the transfer of assets across chains would also become easier. Axelar had recently raised $25 million in Series A funding in a round that was led by Polychain Capital. The network is still in testnet but Polygon has been one of the early adopters of Axelar.
Jayanti Kanani, Co-founder, and CEO of Polygon added: “There are many exciting developments taking place within the blockchain domain at the moment and we believe it is essential to have cross-chain interoperability to take full advantage of these opportunities. Axelar has a very unique approach to interoperability, by providing easy connectivity, high security, and robustness to its infrastructure. Integrating Polygon with Axelar is an important step towards creating a fully interoperable future for blockchain and we’re looking forward to witnessing how our users make the most of the integration.”
We have been mentioning in our blockchain reports that interchain operability would be the key component of blockchain development in the coming months. It doesn’t make sense for the crypto ecosystem if the dApps and the users are stuck to specific chains. There needs to be a free flow of data, users, and transactions across networks for the ecosystem to thrive as a whole. And this flow should be as easy and seamless as possible so that it becomes user-friendly and users and developers would then be emboldened to pick out the best properties of each chain and make full use of them. With companies like Axelar progressing ahead with this, it needs to be seen how users react to it.