Polkadot is launching an “XCM” messaging system to become a fully interoperable multi-channel ecosystem.

Polkadot announced the launch of its messaging system called XCM (Cross Consensus Messaging) to enable the communication and transfer of digital assets between its para-chains. This upgrade will play a huge role in achieving the goal of Polkadot to create an interoperable multi-chain ecosystem.

The Interoperability Upgrade XCM is now online.

Polkadotthe evolving, heterogeneous and multi-channel today announces the launch of XCMa “cross-consensus message” format. XCM also known as Interconsensus Messaging Format, is a language that allows communication between para-chainssmart contracts, and the underlying palette that provides custom functionality to blockchains.

As a reminder, Polkadot is a blockchain network that aims to achieve interoperability by hosting an interconnected, modular and independent blockchain network called parachains. In simple terms, XCM allows communication between these different para-chains of the network.

According to the press release, the launch of XCM marks that the network has achieved its goal of becoming “a fully interoperable multi-chain ecosystem”.

Commenting on the release of XCMthe assistant ofAstar CTO Hoon Kim:“I see traditional smart contracts on isolated Layer 1 chains as settling in a realm surrounded by walls. Then we have bridges that are like a trade route that first connected nations to nations. We have now XCMwhich is like a free trade agreement for blockchains. It is the natural future. »

Bonus: Goldman Sachs uses Coinbase to allow its customers to take out loans using bitcoin as collateral.

The realization of part of its vision on the roadmap

Full interoperability between chains is the most expected feature of the ecosystem Polkadot. It’s here main view of Polkadotwhich has been on the roadmap since the start of the project’s development in 2017.

The cross-message format for communication between para-chains Polkadot will eventually be implemented. He has landed nearly 2 years after the commissioning of the network in May 2020. According to the announcement, the system has been fully audited and tested on Kusamaa network of blockchain independent that serves as a public test environment for Polkadot.

Polkadot also have revealed that he was working on a future iteration of the system dubbed XCMP Where ” Cross-Chain Messaging. This is another format that will allow direct communication of para chain to para chain without any relay chain intermediaries. XCMP will also allow sending messages to blockchains like Ethereum and Bitcoin when it goes live.

To go further: The Eurosystem is looking for providers of a prototype payment solution to test the digital euro.

We would like to say thanks to the writer of this short article for this incredible content

Polkadot is launching an “XCM” messaging system to become a fully interoperable multi-channel ecosystem.

Discover our social media profiles and other pages related to it.https://metfabtech.com/related-pages/