Core Protocols Powering Axelar’s Connectivity
At the core of Axelar’s ecosystem lies the Coordination and Governance Protocol (CGP), a pivotal element facilitating the integration of new chains without constraints on consensus rules. Operating as the linchpin of the system, CGP enables the transfer of information across multiple autonomous blockchain ecosystems. It plays a crucial role in routing across these ecosystems, ensuring a cohesive and interconnected network.
Enabling Cross-Chain Transfers with CTP
The Cross-Chain Transfer Protocol (CTP) takes center stage as an application-level protocol stack positioned atop routing protocols, including CGP and other routing technologies. Facilitating secure cross-chain messages, CTP relies on a dynamic set of validators employing a proof-of-stake consensus mechanism. This innovative approach ensures the integrity of cross-chain transfers, laying the groundwork for seamless interoperability.
Decentralized Consensus Mechanism
Axelar’s consensus mechanism is driven by validators collectively engaging in a byzantine consensus protocol. Operating on a Delegated Proof-of-Stake (DPoS) model akin to Cosmos Hub, users have the authority to elect validators, who, in turn, bond their stake to participate in consensus and uphold service quality. This decentralized approach ensures that power and control are distributed among network members, preventing any single entity from wielding undue influence.
Axelar Gateway Management
The Axelar gateways, integral to the platform’s functionality, are collectively overseen by Axelar validators through threshold cryptography. This mechanism mandates a majority consensus among validators to approve and execute transactions via the gateways. Axelar employs threshold cryptography to distribute keys from gateway accounts/contracts across a broad consortium of validators, enhancing security and accountability.
Prioritizing Network Security
Axelar places paramount importance on network security, implementing robust measures to guarantee maximum safety and decentralization. The distribution of threshold keys across all validators enhances security, while the use of threshold signature schemes ensures scalability, allowing for a diverse and extensive validator network.
Technological Foundation
The Axelar network is meticulously crafted using advanced technologies, including the Cosmos SDK, CometBFT, and the CosmWasm VM. The Cosmos SDK serves as a foundational framework for building blockchain applications, while CometBFT functions as software dedicated to securely and consistently replicating applications across multiple machines.
Axelar’s commitment to advancing Web3 interoperability, coupled with its innovative protocols and consensus mechanisms, positions it as a frontrunner in the evolution of blockchain connectivity, promising a future where internet applications seamlessly transcend traditional boundaries.