The post OpenZeppelin and Axelar Collaborate to Advance Ethereum L2 Interoperability appeared on BitcoinEthereumNews.com.

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…

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Filed under: News - @ August 20, 2024 6:20 pm