The Polkadot Ecosystem Becomes Multi-chain With The Launch Of XCM
Polkadot has achieved one of its most awaited milestones: the release of XCM, a “cross-consensus” messaging format, and its transformation into a fully interoperable multi-chain ecosystem.
Polkadot has completed its interoperability testing
Polkadot’s long-awaited interoperability upgrade is finally live.
Polkadot, Parity Technologies’ scalable, heterogeneous, multi-chain ecosystem, has launched XCM, a “Cross-Consensus Messaging” format that allows communication between the network’s many parachains. According to a news statement issued on Wednesday, XCM’s introduction signifies the network’s ambition of becoming “a fully interoperable multi-chain environment.”
Polkadot is a blockchain network that aims to achieve interoperability by hosting a web of parachains, which are interconnected, modular, and self-contained blockchains. At its heart is a separate network known as the Relay Chain, which acts as the underlying security layer for its parachains. The Cross-Consensus Messaging format, also known as XCM, is a language that allows communication between parachains, smart contracts, and Substrate pallets, which provide blockchains with bespoke functionality. Astar Chief Technical Officer Hoon Kim commented on XCM’s release, saying:
“I see traditional smart contracts on isolated Layer 1 chains like setting up shop in a kingdom surrounded by walls. Then we have bridges which are like a trading route that first connected nations from nations. Now we have XCM, which is like a free trade agreement for blockchains. This is the natural future.”
The Polkadot ecosystem’s most eagerly awaited feature has been full cross-chain interoperability
Polkadot’s vision is encapsulated in this phrase, which has been on the project’s roadmap from its inception in 2017. The Cross-Consensus Messaging format, which will allow communication between Polkadot’s parachains for the first time, will arrive almost two years after the network went live in May 2020. The system has been completely audited and tested on Kusama, an independent blockchain network that acts as Polkadot’s public testing environment, according to today’s statement.
DOT has also verified that it is working on future system iterations known as XCMP, or “Cross-Chain Message Passing,” which will allow direct parachain-to-parachain communication without the use of the Relay Chain as an intermediary. When it goes online, XCMP will also allow messages to be delivered to blockchains such as Ethereum and Bitcoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Annie
CoinCu News
Author
News, Blockchain
The Polkadot Ecosystem Becomes Multi-chain With The Launch Of XCM
Polkadot has achieved one of its most awaited milestones: the release of XCM, a “cross-consensus” messaging format, and its transformation into a fully interoperable multi-chain ecosystem.
Polkadot has completed its interoperability testing
Polkadot’s long-awaited interoperability upgrade is finally live.
Polkadot, Parity Technologies’ scalable, heterogeneous, multi-chain ecosystem, has launched XCM, a “Cross-Consensus Messaging” format that allows communication between the network’s many parachains. According to a news statement issued on Wednesday, XCM’s introduction signifies the network’s ambition of becoming “a fully interoperable multi-chain environment.”
Polkadot is a blockchain network that aims to achieve interoperability by hosting a web of parachains, which are interconnected, modular, and self-contained blockchains. At its heart is a separate network known as the Relay Chain, which acts as the underlying security layer for its parachains. The Cross-Consensus Messaging format, also known as XCM, is a language that allows communication between parachains, smart contracts, and Substrate pallets, which provide blockchains with bespoke functionality. Astar Chief Technical Officer Hoon Kim commented on XCM’s release, saying:
“I see traditional smart contracts on isolated Layer 1 chains like setting up shop in a kingdom surrounded by walls. Then we have bridges which are like a trading route that first connected nations from nations. Now we have XCM, which is like a free trade agreement for blockchains. This is the natural future.”
The Polkadot ecosystem’s most eagerly awaited feature has been full cross-chain interoperability
Polkadot’s vision is encapsulated in this phrase, which has been on the project’s roadmap from its inception in 2017. The Cross-Consensus Messaging format, which will allow communication between Polkadot’s parachains for the first time, will arrive almost two years after the network went live in May 2020. The system has been completely audited and tested on Kusama, an independent blockchain network that acts as Polkadot’s public testing environment, according to today’s statement.
DOT has also verified that it is working on future system iterations known as XCMP, or “Cross-Chain Message Passing,” which will allow direct parachain-to-parachain communication without the use of the Relay Chain as an intermediary. When it goes online, XCMP will also allow messages to be delivered to blockchains such as Ethereum and Bitcoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
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