Axelar Network's initial developer will work with LF Decentralized Trust to promote open-source approaches in interoperability and blockchain infrastructure
LF Decentralized Trust, the open-source foundation for decentralized technologies established by the Linux Foundation, announced today that Interop Labs has joined as a member of the Trust.
NEW YORK--(BUSINESS WIRE)--$AXL #axelar--"Open-source approaches will be essential in the next phase of blockchain development, and the Axelar community has shown a strong commitment to building an open-source stack," said Sergey Gorbunov, CEO of Interop Labs and co-founder of Axelar Protocol. "We at Interop Labs are proud to support the Linux Foundation and LF Decentralized Trust to advance transparency, reliability, security and efficiency in future iterations of the internet."
Interop Labs is a systems and product development company dedicated to enabling an open, interconnected Web – and is the initial developer and a core contributor to the Axelar network, a leading blockchain interoperability protocol.
Recently, Interop Labs Head of Legal, Jason Rozovsky, presented to the LF Decentralized Trust community at a workshop meeting hosted by Kinexys by J.P. Morgan. The talk, "Connection Without Custody: Axelar and Multichain Security," focused on the security and compliance advantages inherent in open-source and noncustodial blockchain interoperability.
"Decentralization is the key attribute driving institutional interest in blockchain networks. From a business perspective, decentralization provides censorship-resistant asset storage and transfer, strengthening security," Rozovsky said. "From a policy perspective, decentralization ensures that infrastructure remains insulated from risks associated with centralized intermediaries. We at Interop Labs are looking forward to contributing to the Linux Foundation and LF Decentralized Trust from the perspective of a decentralized interoperability builder."
Rozovsky and noted blockchain legal expert Lewis Rinaudo Cohen, partner at Cahill Gordon and co-chair of CahillNXT, co-authored a white paper on how decentralized blockchains can represent not a threat, but an opportunity and a paradigm shift for regulators. Download and read the white paper at axelar.network/new-regulatory-paradigm.
LF Decentralized Trust has gathered a global roster of leaders and major institutions in finance and technology: Mastercard, the Depository Trust and Clearing Corporation (DTCC), Ripple, the Ethereum Foundation and several central banks – to name a few. Interop Labs joins this group at the forefront of defining the resilience and security of critical systems that will reshape markets and transform industries for a digital-first economy.
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 with a combined total value locked (TVL) that has crossed $1 billion. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.
About Interop Labs
Interop Labs is a systems and product development company dedicated to enabling an open, interconnected Web. The company was founded in 2021 on the belief that open-source, heterogeneous, interconnected systems have the power to nurture innovation and creativity for the betterment of all humankind. Interop Labs builds, invests in and incubates innovative projects pushing the boundaries of blockchain interoperability, cryptography and machine learning – including as a core contributor to the Axelar network, a leading interoperability protocol. Learn more: interoplabs.io.
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