1. SipPop GamesHome
  2. Metaverse Matters

What does Polkadot Split mean (Polkadot xcmp)?

• Metaverse Matters • 154 views

What does Polkadot Split mean? What does Polkadot Split mean? Polkadot is the ne

What does Polkadot Split mean (Polkadot xcmp)?

What does Polkadot Split mean? What does Polkadot Split mean? Polkadot is the next-generation internet of blockchain. It enables sharing of security, interoperability, and privacy on the network. Polkadot v0.9.0 has been released and is expected to go live on February 7, 2022, currently in the testing phase.

Polkadot is mainly divided into three parts: a set of new smart contracts and a new system called “governance” to control tokens in the parallel chains; two new accounts and two new types of assets will be added to the protocol.

These changes are intended to make the entire project more flexible and provide users with more options to support more use cases, while ensuring the network remains stable. Information on how to upgrade to v1 or change the software structure will be updated in the future.

Polkadot xcmp

Polkadot XCmp cross-chain bridge was launched on July 29, supporting Ethereum and Polkadot. xcmp consists of xDOT and xKSM as two separate blockchain networks: one for projects that provide funding for the Polkadot ecosystem (such as Acala), and the other for applications developing parallel chain slot auctions, such as CrustNetwork, AstarNetwork, Moonbeam, etc., and responsible for transferring other assets from Ethereum to the Kusama Network. XCMP allows participants to earn rewards and share liquidity by introducing a new type of token standard in XCP; another is to deploy them to Kusama or other Substrate-based parallel chains.

According to official information from XCmp, the specific timeline for “going live after the upcoming XCTP upgrade” is yet to be confirmed. (Medium)

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/24829.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/18/2023 09:22
Next 08/18/2023 09:44

Related recommendations