Friday, December 9, 2022
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Polkadot announces the debut of XCM messaging system

Protocol for cross-chain interoperability Polkadot has revealed the debut of its messaging system named XCM (cross-consensus messaging). The XCM will enable communication and the transfer of digital assets among its parachains.

Polkadot’s messaging system XCM

As per the information, messages exchanged over XCM channels are completely protected at the same level as its Relay Chain. The XCM message exchange system is different to other bridging systems which caused a weakest-link problem.

Polkadot’s Relay Chain serves as the network’s core hub, and all chains in the ecosystem rely on it. It can handle hundreds of parachains, and numerous projects. All of these parachains may now communicate and exchange digital assets and data over the XCM channel.

On the launching, the company has informed that it will now utilise XCM to transfer any asset, token, or data among parachains. Polkadot claims that with the introduction of XCM, it has achieved its core goal of becoming a completely interoperable multichain environment.

XCM was meant to handle messaging between smart contracts and Substrate runtime modules, often known as pallets, in addition to providing interoperability across parachains. Polkadot also stated that it is working on iterations that would allow communication with any network capable of decoding messages and scaling, such as Bitcoin, Ethereum, and Polkadot’s canary network Kusama.

Existing parachains on the Polkadot network embrace XCM with open arms and hope for a bright future. Hoon Kim, chief technical officer of Astar, a multi-chain smart contract platform on Polkadot, commented on the launch, by saying the followings:

“XCM bridges provide a strong and more trustworthy communication path than earlier bridges. I can see a future where more and more projects employ XCM to achieve something that was unthinkable only a few years ago.”

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