Axelar, a cross-chain protocol, has announced a groundbreaking partnership with tech giant Microsoft. This is to facilitate the connection between public and private blockchains. Also, this strategic collaboration will mark a significant milestone for Axelar as it becomes the first cross-chain protocol to join Microsoft’s Azure marketplace.
Further, the partnership aims to bridge the gap between different blockchain networks and provide developers with innovative tools and solutions.
Expanding Reach through Microsoft’s Azure Marketplace
By partnering with Microsoft, Axelar will gain access to a vast network of companies that utilize Azure, Microsoft’s widely adopted cloud service. Galen Moore, spokesperson for Axelar, expressed excitement about the potential impact of this collaboration.
He stated,“This has tremendous potential for products that integrate established internet technology with public blockchains in ways that are meaningful for users.”
Importantly, Axelar’s inclusion in the Azure marketplace will allow developers to leverage the powerful AxelarJS software development kit (SDK) and general message passing capabilities. These tools enable developers to seamlessly integrate functionality across various blockchains and databases. This will further empower them to build efficient and scalable applications.
Integration of Public and Private Blockchains for AI Applications
The partnership between Axelar and Microsoft will extend beyond cross-chain interoperability. This is because both companies are eager to explore the integration of public and private blockchains to support artificial intelligence (AI) applications. Sergey Gorbunov, co-founder of Axelar, emphasized the importance of trust in AI and the need for multiple layers of verification.
Gorbunov explained,“Blockchains can help establish roots of trust, make sure the data is not tampered with, and keep it hidden within specified jurisdictions.”
Combining private and public blockchains can address critical questions related to AI. These include data integrity, privacy, and the origins of information. By leveraging the transparency and security of blockchain technology, Axelar and Microsoft aim to create a trustworthy environment for AI integration.
Axelar’s Impressive Track Record and Expansion
With over 25,000 applications and services available, Azure’s marketplace is a vibrant ecosystem for developers and businesses. While exploring the platform, it becomes evident that blockchain technology powers at least 200 solutions already.
Axelar’s integration into this marketplace signifies a significant milestone for the cross-chain protocol. Additionally, it further validates the growing importance of blockchain in various industries.
Notably, Axelar’s remarkable growth is reflected in its support for 43 blockchains, demonstrating its commitment to interoperability and adaptability. In its recent Series B funding round, Axelar successfully raised $35 million, propelling its market value above $1 billion.
Prominent investors, including Dragonfly Capital, Polychain Capital, and North Island Ventures, participated in the funding, highlighting the industry’s confidence in Axelar’s vision and potential.