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Home » Polkadot Unveils XCM V3 To Enhance Blockchain Interoperability

Polkadot Unveils XCM V3 To Enhance Blockchain Interoperability

John Hobbs by John Hobbs
January 22, 2023
in Currencies
Polkadot Unveils XCM V3 To Enhance Blockchain Interoperability
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Polkadot has published Cross-Consensus Messaging (XCM) Version 3, which improves interoperability between its supported blockchains.

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Polkadot co-founder Gavin Wood reported that the update’s code had been pushed into the master branch of the project’s GitHub repository. After 15 months in development, the latest version of XCM is ready for release, and it is interoperable with all parachains in the Polkadot ecosystem.

After exactly 15 months in development, @polkadot XCM version 3 is merged. This enables bridges, cross-chain locking, exchanges, NFTs, conditionals, context-tracking and more. https://t.co/dqcLXOmDa9

— Gavin Wood (@gavofyork) January 17, 2023

Polkadot has improved its asset transfer capabilities between blockchains with XCM version 3, applicable to both conventional tokens and NFTs.

Improved programmability is the primary emphasis of the latest release, opening up a wide variety of new possibilities for using tokens across different chains. For example, tokens can be locked on one chain and released on another.

Tags: Altcoin NewsFeature
John Hobbs

John Hobbs

John Hobbs serves as the co-Leader of the Coin Culture tokens and data team for Australia site, specialising in crypto derivatives, DeFi, market microstructure, and protocol analysis. John possesses a cryptocurrency portfolio including assets such as YFI, SHIB, DOGE, USDT, MATIC, MANA, GLMR, LINK and XMR. Additionally, he contributes over $5,000 to liquidity pools across various platforms including Compound, Curve, SushiSwap and PancakeSwap. John has a professional background in finance and data analysis, with over five years of experience as a crypto investor.

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