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Blockchain interoperability goes beyond moving data from point A to B — Axelar CEO Sergey Gorbunov

Cross-chain communication between blockchains is more than just moving data from point A to B, but how it can connect applications and users for enhanced experiences and fewer gas fees in Web3, outlined Sergey Gorbunov, Axelar Network co-founder and CEO, speaking to Cointelegraph’s business editor Sam Bourgi on Sept. 28 at Converge22 in San Francisco.

As the crypto industry has developed over the past few years, blockchain interoperability has seen a surge in demand, attracting venture capital and welcoming players, such as Axelar, which reached unicorn status in February. According to Gorbunov, the company, founded in 2020, started with a premise that cross-chain and multichain capabilities would come to define the crypto space. “The idea is not just to talk about how to connect A to B, but how to connect many to many, right? How to connect everybody with everyone else. And that includes applications and includes users,” he explained.