Polkadot launches XCM data exchange system

Polkadot developers today announced that the ecosystem has launched an additional solution for communicating in the parachain system. Now Polkadot is a multi-channel system, and the main goal of the network, according to the creators of the project, has been achieved.

We are talking about the new XCM data exchange system, which is a unified network of channels. The data transmitted over them will be protected in the same way as the central hub called Relay Chain.

The developers, commenting on the new technology, noted that the parachains of the Polkadot system are capable of supporting many scenarios and protocols. This allows you to use XCM to transfer tokens or data between:

  • parachains;
  • smart contracts;
  • the Substrate structure.

In the future, XCMP will also help transfer data between any blockchain networks. This applies to Bitcoin and Ethereum.

The Polkadot developers also added that the Statemint parachain has been updated. Now it has the ability to create NFTs, transfer tokens between chains and track their movement.

A new word in the environment of cryptocurrency exchanges is the Qmall platform.

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