Polkadot Unveils XCM V3 To Enhance Blockchain Interoperability
Polkadot has published Cross-Consensus Messaging (XCM) Version 3, which improves interoperability between its supported blockchains.
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.
