- Ripple and Axelar Foundation boost XRPL interoperability with 55 blockchains, expanding reach and efficiency in the DeFi ecosystem.
- Implementation of General Message Passing (GMP) facilitates secure execution of smart contracts between blockchains, driving innovation in dApps.
Ripple, a leading financial services provider in blockchain technology, has moved towards creating a more unified and efficient crypto universe through its partnership with the Axelar Foundation.
This key agreement seeks to increase the XRP Ledger’s (XRPL) ability to interact with a set of more than 55 different blockchains, marking a sea change in transaction processing and digital asset management.
The XRPL is distinguished by its robustness and efficiency as a top-tier decentralized blockchain and acts as the underpinning for the XRP cryptocurrency, creating a secure environment for tokenization of both proprietary and existing digital assets in the physical realm.
Through the collaboration with Axelar, it aims to leverage these functionalities, making XRPL not only advance its interconnectivity capabilities but also extend its influence and applicability further into the dynamic world of decentralized finance (DeFi) and other sectors, which we have reported on here at ETHNews.
One of the most significant contributions of this joint effort is the launch of the General Message Pipeline (GMP), which gives programmers the ability to trigger functions in smart contracts across the varied interconnected blockchains, as in other sectors we’ve discussed here on ETHnews.
“Axelar already interconnects Cosmos, EVM and Polkadot blockchains in its rapidly expanding network of interoperable blockchains. XRPL introduces a source of innovation in DeFi and real-world assets (RWA) to Axelar’s growing ecosystem.
“The Axelar Foundation is excited to support this integration and expand the interconnected world of Web3 together with Ripple and XRPL.” Georgios Vlachos, Co-founder of the Axelar Protocol and Director at Axelar Foundation
This breakthrough not only diversifies the application possibilities in the XRPL ecosystem, but also facilitates secure and efficient cross-chain exchanges of different types of data.
