According to Odaily, Layer1 Axelar has announced the launch of a Virtual Machine (AVM) on platform X. This new development will allow developers to write smart contracts with cross-chain functionality. The protocol-level cross-chain logic can now be encoded at the smart contract layer, facilitating chain abstraction related functions.
The introduction of the AVM by Axelar is a significant step towards enhancing the interoperability of blockchain technology. It will enable developers to create smart contracts that can operate across different blockchain networks, thereby increasing efficiency and flexibility in the blockchain ecosystem.
This development is expected to have a profound impact on the blockchain industry, as it will allow for more seamless integration of different blockchain networks. It will also provide developers with more tools and resources to create innovative solutions in the blockchain space.
