• 13 July, 2024
News

zkSync x Axelar Integrate to Boost Self-Sovereign Web3 Participation

zkSync has reportedly announced Axelar integration. Integrating with Axelar shall enable web3 applications built on zkSync Era’s zkEVM to compose dApp functions and liquidity across all 32+ Axelar-connected chains. This also includes Cosmos, EVMs, and other the Ethereum Layer-2 chains).


Announcing the integration, zkSync tweeted:


Permissionless Composability in the Interchain is coming to the zkSync Era. Axelar is poised to bring permissionless composability to zkSync Era to support self-sovereign web3 participation.

Source: zkSync Twitter (@zksync)

Committed to realizing this dream of making Ethereum scalable and accessible, Matter Labs’ zkSync Era works towards self-sovereignty at a mass scale. 

Alex Gluchowski, Co-Founder & CEO, Matter Labs, said, Our long-term mission is to make self-sovereign participation in the digital economy — i.e. maintaining true control over one’s digital assets — affordable for anyone in the world.

Realizing its vision requires the industry to direct attention towards the features that stand to cement the long-term future of cryptocurrencies. These features include decentralization, security, and scalability.

Given the unfolding of the recent events, these features’ value needs to be upheld to secure web3’s long-term stability and resilience. The global web3 adoption has security as a prerequisite. Given their vulnerability in cryptocurrency, Bridges resulted in 69% of total hacks (or stolen funds amounting to $1.4 billion) from January to August 2022.

The secure interchain communication offered by Axelar aims to solve this predicament by implementing cross-chain solutions via APIs (even on a permissionless and decentralized validator).

This collaboration is central to  ensure the “safety and interoperability of zkSync Era.” With the Axelar integration, zkSync aims to enhance the self-sovereign participation’s accessibility and safety for global users and developers.

Marco Cora, Head of Business Development, Matter Labs, said, We’re delighted to work with Axelar to make launching multi-chain dapps even simpler.

Axelar’s mission to provide full-stack interoperability is a natural fit with the potent mix of scalability, security, and low gas fees on zkSync Era. Together, we will bring this reality to more developers in 2023.

Axelar’s General Message Passing lets developers execute “any function on any connected chain.” The zkSync and Axelar integration enables dApps on zkSync Era to deploy “seamless cross-chain swaps to their users, onboarding holders of any token, without sending them out to a bridge.”

Sergey Gorbunov, Co-Founder, Axelar, said, Developers on zkSync Era are using some of the most innovative consensus technology available.

Axelar is here today to let them build on that and compose across web3 through General Message Passing. And with Axelar Virtual Machine we are building the tools to take them further, expanding and adapting across all of web3.

It also enables building web3 to deliver “super dapps” to “compose functions on any chain, and deliver these functions to their users in one-click experiences.”

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