What is Web3 ?

Web3, also known as the decentralized web, refers to the next generation of the internet, which is being built on blockchain technology. Unlike the current centralized web, where users are dependent on intermediaries such as social media platforms, search engines, and other centralized applications, the decentralized web allows users to interact with each other directly, without the need for intermediaries.

The decentralized web is built on blockchain technology, which allows for decentralized data storage, verification, and execution of smart contracts. This means that users can store their data and assets in a secure and transparent manner, without the need for a third party to oversee the transaction.

Web3 is not only about decentralization, but also about creating a more transparent, fair, and democratic internet. It has the potential to transform various industries, such as finance, healthcare, and education, by enabling secure and decentralized transactions, verifiable credentials, and more efficient and cost-effective systems.

Cross Chain Activity Next Step to Web3 World

Cross-chain activity is an important feature of the Web3 ecosystem that enables seamless communication and interaction between different blockchain networks. The term "cross-chain" refers to the ability to move digital assets or data across different blockchains that may have different protocols and consensus mechanisms.

One of the primary benefits of cross-chain activity is that it enables interoperability between different blockchain networks. This means that users can access a wide range of decentralized applications (dApps) and services regardless of the blockchain they are built on. For example, a user could use a dApp that is built on Ethereum to interact with a smart contract that is deployed on the Polkadot network.

There are several methods for achieving cross-chain activity, including atomic swaps, bridge protocols, and middleware solutions. Atomic swaps allow users to trade digital assets between two different blockchains without the need for a centralized exchange. Bridge protocols, on the other hand, facilitate communication and asset transfers between different blockchains by acting as an intermediary layer. Middleware solutions, such as Chainlink, provide a way for smart contracts to interact with data and resources outside of their native blockchain.

Axelar Bridges and Blockchain Globalization

Through a decentralized network, Axelar serves as a global interoperability layer that links L1 blockchains. Any smart contract developer can easily make an asynchronous call to a contract on another supported chain using Axelar's SDKs. Three things are made possible by Axelar's SDKs:

1. Making it simple for developers of blockchain apps to connect to and communicate with programs on other chains.
2. Enabling Dapps to quickly and with little extra development work grow across several chains.
3. Providing minimal to no friction for consumers to interact with applications across various ecosystems.

In the long run, it is hoped that users won't necessarily need to be aware of the various chains that make up an application's backend. People have always used the Internet in this way: when a website makes API calls to outside servers, the user merely uses a single, seamless application. Nowadays, it's clear if someone is using Solana, Ethereum, or Avalanche. Future versions of web3 might provide a similar user experience to the internet, where all you see is the program you're dealing with and nothing else. If you’ve been following this space, you’re probably familiar with LayerZero and its Stargate Finance. LayerZero sits at the same place in the stack as Axelar. In this dashboard we deep dive in Axelar Cross-Chain transactions as an example and pioneer to this filed , I hope you enjoy it. The ideas and Images are extracted from this article by Haseeb Qureshi