- Tech giant Microsoft and cross-chain protocol Axelar have partnered to advance blockchain technologies.
- Axelar has joined Microsoft’s Azure marketplace.
- The partners will leverage the Azure cloud technology to enhance user experience across Web3.
Microsoft and cross-chain protocol Axelar have announced an enterprise partnership that will see the two collaborate on interoperability and Web3 integration across Web2 systems.
The tech giant and the crypto platform will work towards developing blockchain onramps to support all types of users, from global enterprises to Web3 startups.
Axelar joins Microsoft’s Azure markeplace
In an announcement on July 11, Axelar said the partnership will also explore how to integrate artificial intelligence (AI) within the public blockchains ecosystem. The collaboration sees the blockchain company join Microsoft’s Azure marketplace.
Axelar and Microsoft are pleased to announce a partnership for better integration of Web3 & traditional internet systems. The partnership will explore ways public blockchains can can help secure trust and speed integration of artificial intelligence (AI) in mainstream use cases. pic.twitter.com/XfKat1PIT0
— Axelar network (@axelarcore) July 11, 2023
As a result of this partnership, Microsoft customers can use the Azure marketplace to access Axelar’s blockchain solutions. Thousands of Microsoft’s cloud computing partners use the Azure Marketplace for software discovery and integration.
Microsoft and Axelar also eye hybrid blockchain initiatives, including ones targeted at connecting private and public blockchains. The plan is to leverage the Azure OpenAI services to bring new experiences to Web3 users.
Daniel An, the director of business development at Microsoft Web3 & AI, noted that the collaboration will boost further adoption of blockchain technology. He said:
“We are excited to collaborate with Axelar to accelerate blockchain integration and deliver valuable solutions to our customers. By leveraging our strengths and expertise, we can empower organizations to embrace blockchain technology and transform their operations.”
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Kava has integrated with Axelar to make it easier for users to transfer assets across blockchains.
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KAVA is up by less than 1% today but could rally higher over the next few hours.
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The total crypto market cap continues to stay above $800 billion.
Kava integrates with Axelar
Axelar Network announced a few hours ago that it has integrated with the Kava network. Thanks to the integration, users can now transfer assets from any connected chain to Kava, and developers can tap into the vast ecosystem of dApps building on top of Kava’s unique architecture.
Kava is now live on Axelar!
https://t.co/m3m8V7icpj users can now transfer assets from any connected chain to @kava_platform and developers can tap into the vast ecosystem of dApps building on top of Kava’s unique architecture.
More to come on liquidity, so stay tuned
pic.twitter.com/yFeqPdCpXB
— Axelar Network (@axelarcore) December 22, 2022
Despite this latest cryptocurrency news, KAVA has only added 0.6% to its value over the last 24 hours. At press time, the price of KAVA stands at $0.7163. However, KAVA could rally higher as the market sentiment improves.
The total cryptocurrency market cap has remained above $800 billion since the start of the week. If the bulls gain more momentum, the market cap could reach the $815 billion mark soon.
Bitcoin and Ether are also trading in the green zone today and could end the week on a positive note.
Key levels to watch
The KAVA/USD 4-hour chart is bearish despite Kava’s positive performance so far today. However, the sentiment is improving, and the chart could soon turn bullish.
The 14-day relative strength index of 51 shows that KAVA is no longer in the oversold region. If the positive momentum increases, the 14-day RSI could move toward the 70 mark over the next few days.
The MACD line remains below the neutral zone but is slowly moving toward the positive region as the bulls gather momentum.
If the bullish trend increases, KAVA could surge past the first major resistance level at $0.8150 over the next few hours. However, crossing the $0.8662 resistance level will require huge support from the broader cryptocurrency market.
Where to buy KAVA now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Wazirx
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
Trading in cryptocurrencies is not as easy and convenient as transacting money with a traditional banking system. Technology has progressed so much so that even a toddler can navigate an application on iPhone effortlessly. Cryptocurrency trading is altogether a different story. One needs to have good technical know-how to even start trading on a blockchain network. Axelar, to make dApp development smooth, has come up with a proof-of-stake transport layer-powered cross-platform network, wherein users and developers can transact across networks with just one click. Analytics Insight has engaged in an exclusive interview with Sergey Gorbunov, CEO, and Co-Founder, of Axelar.
1. Kindly brief us about the company, its specialization, and the services that your company offers
Today’s blockchain UX is nothing like the web. Users with assets on one blockchain find it difficult to use applications on others. Axelar changes this. Using Axelar as the universal cross-chain overlay network, dApp developers create secure, one-click experiences that access any function, any asset, on any chain. Axelar delivers secure cross-chain communication for Web3.
The Axelar network is an infrastructure that enables dApp users to interact with any asset or application, on any chain, with one click. Powered by a permissionless Proof-of-Stake transport layer, Axelar network allows dApps to communicate across chains.
Axelar is widely supported and endorsed by way of key integrations with blockchain networks and successful funding rounds from prominent investors. Just like the internet in its early development, blockchain technology will reach mainstream adoption through the interoperability of different networks. In this way, Axelar can be compared to other overlay networks, like CDNs, that opened the door to whole new categories of internet applications.
2. Brief us about the proactive Founder/CEO of the company and his/her contributions to the company and the industry.
Axelar was co-founded by myself and Georgios Vlachos. We previously were part of the founding team at Algorand. Among other things, Georgios designed the Algorand consensus protocol and I led the effort to standardize BLS signatures. That standard is now adopted as a draft in CFRG and was followed by Ethereum 2.0 implementations and others. We have been building secure blockchain infrastructure together for more than five years. I’m also an assistant professor at the University of Waterloo.
In total and since inception, we’ve led Axelar’s Series A, Series B, and general funding rounds, raising US $63.8M.
3. What is your biggest USP that differentiates the company from competitors?
Axelar is the only network building these capabilities on Proof-of-Stake. Secure cross-chain communication over a dynamic validator set is hard. Other projects have taken shortcuts involving optimistic setups and federated multi-sig, but we believe proof-of-stake is the best path to decentralization, security, and beneficial network effects.
In addition, Axelar has built protocols, APIs, and developer tools that make it easy for application developers to build cross-chain — without learning new programming languages. Our value proposition to the developer is that they can build on the chain that best suits their use case and background, while letting their users access anything on the decentralized web, with one click.
4. What are some of the challenges faced by the industry today?
Blockchain infrastructure is still highly immature, especially relative to the use cases that are built on top of it. It’s like trying to run Facebook on infrastructure that’s barely ready for Usenet.
Given this immaturity, it’s not surprising to see new experiments in infrastructure: new blockchains like Avalanche, Cosmos, Polkadot, and Solana are attracting developers and users (among many others). Now, this growing ecosystem is also fragmented. Users and developers who enter via one network are stuck there in a silo. To use other blockchains requires risky third-party applications called bridges.
The blockchain industry needs an overlay network with visibility into all these networks, agnostic to different infrastructure and consensus models, providing secure routing and translation, any-to-any. Axelar is this overlay.
5. How do you see the company and the industry in the future ahead?
Today, blockchain developers and users largely consider themselves and their applications as components of a single ecosystem, based around a single blockchain network and a token. In the next cycle, developers will build applications that abstract that attachment for the user, letting them use the application regardless of the ecosystem where they own assets and have an identity and history of transactions.
What new use cases will this new form of application development bring? It’s likely to be a surprise, much as YouTube was a surprise to a generation of cable viewers, and Airbnb was a surprise to the hotel industry.
It’s hard to pay attention to multiyear development cycles when the market is swinging down or up, but that’s what we’re focused on at Axelar.
6. How have you seen the evolution of the industry?
The main thing to note about the evolution of the blockchain industry is the huge shift in reputation. Many touted Bitcoin as nonsense, and blockchain as a dying fad. That narrative has receded. Many experiments tried today won’t be with us for the long run, but a population is growing that sees cryptocurrency and decentralized systems as technology innovations worth building upon and investing in.
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Original Source: https://www.analyticsinsight.net/exclusive-interview-with-sergey-gorbunov-ceo-and-co-…
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