New York, USA, August 20th, 2024, Chainwire
OpenZeppelin, the standard for secure blockchain applications, and Interop Labs, the initial developer of Axelar, have announced a strategic collaboration to develop open-source standards and development resources for cross-chain communication. This initiative will enhance interoperability across the rapidly expanding Ethereum L2 landscape and the broader Axelar-connected chains.
The rapid development of new, faster, and cheaper solutions for the Ethereum ecosystem has led to a fragmented landscape of isolated Layer-2 (L2) chains. While connecting to the Ethereum mainnet is straightforward, linking various L2s requires individual development, hindering asset and data flow and creating significant barriers to user experience and developer efficiency.
“Interoperability across hundreds of blockchains is a multidimensional challenge. For application developers, the costs of adding cross-chain capabilities as a bolt-on are real,” said Stephen Fluin, head of developer relations at Interop Labs. “Having an open-source library and standardized developer experience will make it easy to build native interoperability into their dApps. This will be game-changing and allow for much more innovation to happen.”
As part of OpenZeppelin’s Contract Libraries, a public good and industry standard for smart contract development, this new Solidity library will provide developers with the necessary tools to build interconnected applications. OpenZeppelin Contracts, which have secured over $6 trillion in total value transferred, serve as a key platform for developer acquisition and ecosystem growth. By integrating with Axelar, developers can leverage these robust tools to easily implement cross-chain functionality, thereby enriching the Ethereum ecosystem and driving its continued growth.
Future phases of this collaboration will include additional libraries and Ethereum Improvement Proposals (EIPs), further expanding and refining these capabilities to support more token standards and existing library implementations. Axelar currently connects the Cosmos and Ethereum Virtual Machine (EVM) ecosystems, with other consensus approaches such as Solana, Stellar, and Sui expected later this year.
“We are thrilled to embark on this journey with the Interop Labs team, driving forward the capabilities of cross-chain messaging and interoperability through the Axelar network. We see this as a pivotal moment in our commitment to enhancing the Ethereum ecosystem and supporting its continued growth,” said Luca Cosivi, Ecosystem Development Lead at OpenZeppelin.
This partnership marks a significant step towards addressing the challenges of interoperability, providing a standardized and secure framework for developers to innovate and build better solutions for a seamless multichain experience.
About Axelar
Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups, building applications to reach all blockchain users at once – 10X as many active users as the leading Web3 application environment. Axelar supports smart contracts on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.
About Open Zeppelin
Founded in 2015, OpenZeppelin is dedicated to creating and protecting the open economy through secure and reliable blockchain infrastructure. Our widely-used OpenZeppelin Contracts Library has secured over $6 trillion in total value transferred, and our Defender Cloud Services streamline and safeguard decentralized applications. We empower developers with industry-leading tools and initiatives, fostering a secure blockchain ecosystem. Trusted by top projects globally, OpenZeppelin is your partner in building a safe and interoperable decentralized future. Learn more at: www.openzeppelin.com
About Interop Labs
Interop Labs is a leading developer of blockchain interoperability technology, used by Web3 infrastructure protocols to support scaling the next generation of internet applications to billions of users. Interop Labs is the initial developer of Axelar network. Learn more at interoplabs.io.
Contact
PR Director
Karla Vilhelem
Market Waves
karla@marketwaves.co
