Microsoft Expands Web3 Strategy through Collaboration with Axelar Network July 12, 2023 July 12, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 12, 2023 by Kelly Cromley

Microsoft Expands Web3 Strategy through Collaboration with Axelar Network

Microsoft has recently unveiled a new collaboration with Axelar Network, showcasing its commitment to furthering its web3 strategy. The objective of the partnership between the two companies is to develop hybrid blockchain and AI projects. The objective, as stated in the announcement, is to create a cohesive and advanced iteration of web3.

As per the statements made by Microsoft and Axelar Network, the forthcoming blockchain infrastructure will prioritize the provision of simplified avenues for individuals to enter the world of cryptocurrencies. The existing solutions available in the market are commonly seen as providing developers and organizations with limited choices when it comes to achieving smooth user interoperability across various ecosystems.

Partnership Aims to Develop Integrated Web3 Solutions and Blockchain Interoperability

The partnership between Axelar and Microsoft Azure aims to leverage Axelar’s secure cross-chain communication network and the global reach and scalability of Microsoft Azure. This collaboration seeks to enable seamless web3 developer and user experiences. Microsoft announced in a press statement on Tuesday that they will be collaborating to offer Azure customers access to a comprehensive blockchain interoperability protocol. This collaboration includes providing customers with the Axelar Network’s software developer kit (Axelar JS) and the Axelar General Message Passing (GMP) system. The GMP provides developers with the ability to utilize a wide range of features and functions across multiple networks, regardless of the specific blockchains and databases that are responsible for hosting them.

Daniel An, the Director of Business Development at Microsoft Web3 & AI, expressed enthusiasm regarding the collaboration, emphasizing the company’s eagerness to work alongside Axelar in order to expedite blockchain integration and provide valuable solutions to their esteemed customers. Through the strategic utilization of our strengths and extensive expertise, we possess the capability to enable organizations to fully adopt blockchain technology and revolutionize their operational processes.

Under this collaborative partnership, both companies will actively collaborate on initiatives with the shared objective of expediting the development and growth of the web3 industry. By utilizing Azure OpenAI services and private blockchains, their objective is to develop innovative web3 experiences. The collaboration also presents opportunities for the integration of blockchain-enabled Open AI services and the incorporation of AI in forthcoming web3 applications.

Sergey Gorbunov, one of the co-founders of Axelar, expressed his thoughts on the partnership, emphasizing that the alignment of their visions motivated them to collaborate with Microsoft. Their aim is to offer an adaptable interoperability layer to the Azure community, catering to a wide range of entities, including rapidly expanding web3 startups and large-scale enterprises. Microsoft offers the opportunity to venture into new frontiers in web3, including the exploration of blockchain-enabled Open AI services and the integration of AI in future web3 applications.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.