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Axelar Partners with Mysten Labs in Cross-Chain Communication for Super DApps

Axelar, the proof-of-stake (PoS) blockchain, and Mysten Labs, the infrastructure company behind the Sui blockchain, announced on Sept. 27 to provide developers with cross-chain communication through popular message passing. announced a partnership. Super DApp.” The integration is expected to be completed by the end of the year.

This collaboration will allow DApps built in Move, Mysten’s programming language, to call any function on any external chain. According to the companies, developers will be able to give users the ability to “use” any token, wallet or blockchain of their choice without having to bridge or swap to access the functionality. Examples range from embedding liquidity into his Web3 games to leveraging digital assets as collateral for multi-chain lending and borrowing.

Axelar CEO and co-founder Sergei Gorbunov told Cointelegraph:

“The permissionless and open nature of Web3 offers advantages that have not yet been exploited. In Web2, super apps are based on monopoly or oligopoly. , this configurability was limited within the limits of existing ecosystems. It provides an unprecedented set of tools.”

Cross-chain technology facilitates data exchange between distributed ledger technology (DLT) designs or external systems and helps achieve interoperability. This improves design security, flexibility and performance. In a nutshell, cross-chain communication eliminates the need for developers to identify chains with the most users or the most liquidity.

Gorbunov argues that the partnership will also accelerate the transition of developers from the Web2 industry to blockchain, as it will allow applications to connect functionality from other blockchains and assets to the Sui network. did. Web3 development saw unprecedented growth in the crypto space last year, with over 34,000 new developers contributing code to his Web3 project.

Axelar Network achieved unicorn status in February after completing a $35 million Series B funding round. Participants include Dragonfly Capital, Polychain Capital and North Island Ventures. Its blockchain connects Web3 ecosystems such as Avalanche and Polkadot.

Recently, Mysten Labs launched a $300 million investment to accelerate adoption of the Sui blockchain ecosystem, a Proof of Stake (PoS) Layer 1 blockchain that uses a feature called “transaction parallelization” to achieve high throughput. Announced Series B investment round in USD. Low latency transactions and low transaction fees.