Interop Labs Joins Linux Foundation Decentralized Trust Initiative
Interop Labs, part of Axelar Network, has joined the Linux Foundation’s Decentralized Trust initiative, announced March 18.
This collaboration highlights a push for open-source development, impacting blockchain adoption and seeing a positive reaction in Axelar’s token market.
Interop Labs Enters Linux Foundation Alliance
Interop Labs, the initial team of Axelar Network, joined the Linux Foundation’s Decentralized Trust on March 18. The foundation promotes open-source solutions in blockchain technology.
Core members include Citi, American Express, and Chainlink. Together, they aim to advance security and open-source standards within the blockchain sector. Source
Axelar Token Jumps 8.7% Post-Announcement
The announcement led to an 8.7% increase in Axelar’s token price. Industry leaders cite increased trust in open-source collaborations.
Financial experts foresee positive shifts in blockchain adoption and believe this collaboration could influence broader technological advancements. “Open-source approaches will be essential in the next phase of blockchain development, and the Axelar community has shown a strong commitment to building an open source stack. We at Interop Labs are proud to support the Linux Foundation and LF Decentralized Trust to advance transparency, reliability, security and efficiency in future iterations of the internet.”
— Sergey Gorbunov, CEO, Interop Labs
Blockchain Collaboration Echoes Past Initiatives
Similar initiatives, such as Ethereum’s Enterprise Alliance, resulted in enhanced development opportunities and network growth. This trend supports standardization efforts.
Expert analysis from Daniela Barbosa highlights a shift towards interoperability and open standards, projecting future growth in blockchain application. Open Source
