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What is Axelar (AXL)?
Axelar is a PoS (proof-of-stake) blockchain that enables cross-chain activity.Â
Here’s how Axelar describes themselves:Â
For example, if a developer builds a decentralized application (dApp), Axelar makes it really easy for them to transfer that dApp onto a range of different blockchains. It also simplifies the process of transferring assets between blockchains for users, thereby supporting blockchain interoperability. Axelar has even been likened to the ‘Stripe for Web3’.
How does it work?
The Axelar network is made up of three components:
AXL token utility?
AXL is used to validate and secure the network. It’s also used as a medium of exchange.
Check out their blog for more details.
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