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- Polkadot has released XCM, a “Cross-Consensus Messaging” format enabling communication among several parachains of the network.
- With the integration of XCM, Polkadot at last, is keeping its word of becoming an entirely interoperable multi-chain ecosystem.
- The system has been audited and examined on pre-production testing ground of Polkadot, the Kusama network.
Complete Interoperability Attained By Polkadot
Polkadot has finished one of its much anticipated milestones: launching the XCM, its “cross-consensus” messaging format and becoming an entirely interoperable multi chain ecosystem.
Polkadot, the multi-chain, heterogenous scalable ecosystem built by Parity Technologies, declared today the release of XCM — a “Cross-Consensus Messaging” format enabling communication among several parachains of the network. As per a press release, launch of XCM means the network has attained its objective of becoming “an entirely interoperable multi-chain environment.”
Polkadot is a blockchain network hoping to attain interoperability by hosting a network of free, interlinked and modular blockchains known as parachains. A separate network titled Relay Chain sits at its heart, which acts as an operational security layer for its parachains.
XCM, aka Cross-Consensus Mechanism format, is a language that allows communication among parachains, smart contracts and Substrate pallets that offers blockchains custom functionalities.
CEO of Astar commented on XCM launch, stating that he witnessed conventional smart contracts on isolated L1 chains such as establishing shops in a kingdom encircled by walls.
He added that they have bridges which are similar to a trading route that initially associated countries from countries. Now XCM is here, which is like a free trade deal for blockchains. This is the natural future.
Entire cross-chain interoperability remains the Polkadot ecosystem’s much anticipated attribute. It is the essence of Polkadot’s vision and remains on the roadmap since the project stepped into development back in 2017.
The Cross-Consensus Messaging format, which will at last, enable communication among parachains of Polkadot, lands almost after a couple of years after the network became active back in May 2020. As per today’s announcement, the system has been completely audited and tested on Kusama Network, a free blockchain network serving as public testing environment of Polkadot.
Polkadot has also affirmed that it is working on future system iterations called Cross-Chain Message passing or XCMP, which will enable direct parachain to parachain communication without any intervention by Relay Chain. XCMP will also enable messages to be delivered to blockchains such as Bitcoin and Ethereum when it goes live.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
