Ripple, Axelar Foundation: Enhancing XRPL Across Blockchains
Leading crypto provider Ripple has partnered with Axelar Foundation to bring seamless interoperability to its XRP Ledger (XRPL), which can now securely and efficiently move across over 55 connected blockchains.
XRPL is the decentralised, layer one blockchain for Ripple’s digital currency, XRP. Today, XRPL is one of the most trusted tokenisation blockchains and well-known exchanges for crypto-native and real-world assets.
Ripple says its latest collaboration with Axelar Foundation comes as part of its aim to drive a more interconnected blockchain ecosystem, offering developers fresh opportunities for ledger integrations and application development.
As well as helping XRPL become interoperable across a network of new blockchains, Axelar will use its own network as an additional resource to broaden XRPL’s utility and reach.
Axelar: Bolstering the XRPL DeFi ecosystem
Indeed, the integration of XRPL with Axelar helps bolster the XRPL DeFi ecosystem by providing liquidity for stablecoins and large-capital assets.
Blockchain developers will also be able to capitalise on the XRPL’s built-on features, including its native decentralised exchange (DEX) and upcoming Automated Market Maker (AMM).
What’s more, the Axelar network will support the deployment of cross-chain dApps directly on the XRPL. It will also deliver General Message Passing (GMP) to further expand XRPL’s functionality by allowing developers to execute function calls on smart contracts across the 55+ connected blockchain networks.
Axelar and XRPL hope this new capability will ensure secure cross-chain exchanges of multiple payload types.
As such, Axelar and Ripple have endeavoured to strike a partnership that goes beyond simple bridging transactions – where assets are represented on different chains but ultimately remain locked to one.
With Axelar’s GMP, XRP transactions can transcend the XRPL, thus fostering a more sophisticated, unified experience in dApps that utilise XRP.
Georgios Vlachos, Co-founder of the Axelar Protocol and Director at Axelar Foundation, says: "Connecting XRPL demonstrates Axelar network’s market-leading ability to integrate diverse consensus mechanisms into a unified environment for building seamless user experiences that scale everywhere.
“Axelar already connects Cosmos, EVM and Polkadot chains in its fast-growing network of interoperable blockchains. XRPL adds a powerhouse of DeFi and RWA innovation into the growing Axelar ecosystem.
“The Axelar Foundation is excited to support this integration and expand the interconnected world of Web3 together with Ripple and XRPL."
In its approach to cross-chain security, Axelar employs permissionless proof-of-stake validation, with risk-mitigation layers such as validator security policies and contract limits on how much can be transferred in a given period.
It will integrate the XRPL into its secure cross-chain infrastructure via a multi-signature contract with 32 Axelar validators signing transactions to and from the XRPL.
David Schwartz, CTO of Ripple and Co-creator of the XRPL, adds: “The advancement of blockchain interoperability can break down the silos between networks, enabling seamless interaction and value transfer across diverse platforms.
“This shift will drive innovation, particularly in DeFi, and could help lead to a more interconnected and accessible blockchain ecosystem.
“This initiative from Axelar will help enhance the XRPL's interoperability by extending it to a wider network of blockchain environments while complementing the XRPL’s rich feature set and opening up new pathways for utility and innovation.”
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