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Can crypto reach 1 billion users by 2025?
The crypto industry could reach as much as 1.2 billion people by 2025 even if it grows at the most conservative rate.
Andjela Radmilac · 2 days ago
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Speaking at the InterOp Summit at ETHDenver, Axelar founder Sergey Gorbunov announced the Axelar Virtual Machine to facilitate the growth of the web3 ecosystem utilizing zk-proofs and artificial intelligence.
Furthermore, Gorbunov also announced ‘Interchain Maestro,’ an Axelar product that will allow developers to “build once, run everywhere” to connect any dApp.
The Axelar Virtual Machine will have a set of contract templates on the Axelar Network to allow upgrade paths, admin commands, and governance logic without worrying about cross-chain logic. Gorbunov referred to the new product as the “Kubernetes for web3.” Kubernetes is an open-source container orchestration platform that automates containerized applications’ deployment, scaling, and management.
The goal of the new virtual machine is to allow developers to focus on app logic and optimization instead of concentrating on ensuring dApps are fully composable across multiple chains. Axelar already offers elegant solutions to interchain messaging with its core network, yet adding a virtual machine and 1-click deployment could bring a new level of interchain interoperability to web3.
In his talk, Gorbunov showcased an example of a developer who had deployed a contract to the Avalanche chain being able to deploy the contract onto any number of other chains in one transaction through the upcoming Axelar Services Portal front-end.
Axelar will also extend the network to Stellar, Base, StarkNet, and Near. In addition, a $5 million grant program for protocols to scale their interchain capabilities will also be available.
More information is available at axelar.network/axelarvm
Liam 'Akiba' Wright
Editor and Producer at CryptoSlate
Also known as Akiba, Liam is a journalist and editor of Blocklight at CryptoSlate. He believes that decentralized LEDGER technology has the potential to make widespread positive change. He predicts the next 10 years will bring in a dawn of a new age of technological innovation.
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