Detailed comparison of AXL (Axelar) and W (Wormhole) projects:
• Project goals and vision:
• Axelar: Aims to build a cross-chain protocol that can connect different blockchain networks, overcome interoperability barriers, and enable asset exchange and data transfer.
• Wormhole: As a decentralized universal messaging protocol, it connects multiple blockchain networks and supports cross-chain transmission of assets and information.
• Technical architecture:
• Axelar: Requires node verification and network consensus. Its architecture is similar to Wormhole, but it has more validator nodes and is more decentralized.
• Wormhole: A solution that uses external verification, which is fast and low-cost, but sacrifices a certain degree of security, relies on a small number of validator nodes, and has the risk of centralization.
• Token Economics:
• AXL: The total amount is 1 billion, with inflation and deflation mechanisms. Different parts of the 1 billion tokens initially minted are allocated to the core team, company operations, investors, community ecosystem construction, etc.
• W: Tokens are mainly used for the development of projects and ecosystems and have governance functions, but the link between them and project development is not tight enough.
• Security:
• Axelar: It uses measures such as quadratic voting and frequent key changes to improve security. There are 75 validators participating, and the improved PoS mechanism enhances network security.
• Wormhole: Relying on a few validator nodes, there are certain centralization risks and security risks.
• Project Development and Cooperation:
• Axelar: It has the largest number of connected public chains and is promoting the integration of L1 such as Solana, Ripple, Sui, and has developed the function of automatic integration of L2.
• Wormhole: There are more than 40 connected networks, the source chains with the most transactions are Ethereum, Solana, Sui, and Arbitrum, and there are more than 100 Dapps integrated and cooperating with Wormhole.
• Market performance:
• Axelar: The 30-day trading volume is twice that of Wormhole and almost eight times that of Chainlink CCIP. Both fully diluted valuation (FDV) and market capitalization are significantly undervalued.
• Wormhole: It experienced a low period after the FTX crash, but began to recover from mid-2023, with trading volume and the number of partner Dapps still increasing.
• Scalability and ecosystem development:
• Axelar: Proposed the inter-chain concept, laying the foundation for subsequent ecosystem development, and supporting the cross-chain layer for programming and deploying smart contracts to perform more complex operations.
• Wormhole: focuses on the interaction between the Solana ecosystem and the Ethereum ecosystem, with a clear development focus.
In summary, Axelar and Wormhole are both important projects in the field of cross-chain interoperability, each with its own characteristics and advantages. Axelar performs better in decentralization and security, while Wormhole performs better in market cooperation and transaction volume. Both projects present a competitive and complementary trend, and there is broad room for market growth in the future. #山寨币走势展望
