Crypto News

Polkadot Completes First Successful Cross-Chain Message Passing

Plasm Network cross-chain message with Acala on Polkadot and Kusama's parachain

The Plasm Network successfully completed a cross-chain message with Acala on Polkadot and Kusama’s parachain testnet, Rococo. The project launch was made possible by xtoken. Which was developed by Acala network to be used between the Kusama and Polkadot parachains. 

Despite developers’ concerns about potential glitches when plans for this testnet launch were originally laid out, it did nothing to dissuade investors. Immediately following the announcement of the proposed launch, Polkadot rose 15% towards a new all-time high. While Kusama’s price also saw a 70% rise.

This development will improve multichain interoperability by lowering transaction costs for all users. Developers tendency to be able to send messages between blockchains holds tremendous potentials for the entire industry. It is also crucial for the future of cross-chain operations.

Plasm Network Explain The Process

Plasm explained the process that went into the successful transfer. “Aleksandr Krupenkin, lead engineer at Plasm, found some issues with XCM on Rococo. Aleksandr submitted a PR and his pull request was merged by Parity.”

“After that, we used XCMP-lite on Rococo to make a transfer to Acala. We believe that XCMP is one of the most fundamental components of Polkadot.”

At this point is when xToken was introduced into the equation. “After the initial testing phase, we implemented the XTokens pallet, which is used in the Plasm parachain’s runtime. The next rightful step was to do a live XCMP-lite test on Rococo with the Acala parachain, Mandala.”

Polkadot Community Will Decide Next Upgrade

Polkadot recently announced that the Polkadot community itself will decide the next upgrades and features that will be added to the network. They also noted that Kusama multichain network will be used as a supplementary “proving ground” for future parachains.

Acala Plans Crowd Sourcing Event

Acala also has plans on holding separate crowdsourcing events for both KSM and Polkadot.

Plasm called the successful message “another great milestone for the entire ecosystem”. While also adding that they “are ready to test XCMP-lite with other Polkadot ecosystem teams!!!”

 

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

0 Comments
Inline Feedbacks
View all comments
Corey Hansford

Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.

Related Crypto News

Cardano To Update Mary Protocol On March 1
Cardano’s core development team announced that the Mary protocol update will go live on March 1. Input Output also...
FD7 Ventures Converting $750 Million Of Bitcoin Into Cardano, Polkadot Tokens
Dubai-based crypto-investment fund FD7 Ventures is selling $750 million worth of Bitcoin. It will then use the proceeds to...
Grayscale Exploring 23 Cryptocurrencies For Potential Investment Products
Grayscale Investments has revealed the cryptocurrencies that it is considering to create new investment products. The world’s largest digital...
Kobe Bryant NFT Digital Art Is Being Valued At $20,000
Cryptocurrency trader known as “westcoastnft” has been involved in the industry since 2014. Mostly buying and selling Bitcoin over...
Stone Ridge Asset Management Adds Bitcoin To Diversified Alternatives Fund
Stone Ridge Asset Management will make Bitcoin part of its seven strategies for the Stone Ridge Diversified Alternatives Fund....
Kraken Planning To Raise New Funds At Over $10 Billion Valuation
Kraken is in talks with Fidelity, Tribe Capital and General Atlantic. To raise new funds with a target valuation...

Featured Crypto News

Cardano To Update Mary Protocol On March 1
Cardano’s core development team announced that the Mary protocol update will go live on March 1. Input Output also...
FD7 Ventures Converting $750 Million Of Bitcoin Into Cardano, Polkadot Tokens
Dubai-based crypto-investment fund FD7 Ventures is selling $750 million worth of Bitcoin. It will then use the proceeds to...
Grayscale Exploring 23 Cryptocurrencies For Potential Investment Products
Grayscale Investments has revealed the cryptocurrencies that it is considering to create new investment products. The world’s largest digital...
Kobe Bryant NFT Digital Art Is Being Valued At $20,000
Cryptocurrency trader known as “westcoastnft” has been involved in the industry since 2014. Mostly buying and selling Bitcoin over...
Stone Ridge Asset Management Adds Bitcoin To Diversified Alternatives Fund
Stone Ridge Asset Management will make Bitcoin part of its seven strategies for the Stone Ridge Diversified Alternatives Fund....
Kraken Planning To Raise New Funds At Over $10 Billion Valuation
Kraken is in talks with Fidelity, Tribe Capital and General Atlantic. To raise new funds with a target valuation...