Polkadot’s Astar Network Introduces XVM Functionality to Boost Multichain Use Cases – Crypto News – Crypto News
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Polkadot's Astar Network Introduces XVM Functionality to Boost Multichain Use Cases Polkadot's Astar Network Introduces XVM Functionality to Boost Multichain Use Cases

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Polkadot’s Astar Network Introduces XVM Functionality to Boost Multichain Use Cases – Crypto News

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Astar Network – a smart contract innovation hub that connects the Polkadot ecosystem to all Layer 1 blockchains – launched its Cross-Virtual Machine (XVM) on the public testnet Shibuya.

It enables projects building on Astar to interact with other smart contract ecosystems, including the WebAssembly (WASM) and Ethereum Virtual Machine (EVM).

Enter the XVM

According to a document seen by CryptoPotatoAstar Network launched the first major product part of its 2023 strategy – the Cross-Virtual Machine (XVM).

The feature is a set of interfaces and a custom pallet that allows smart contracts from one virtual machine to engage with others. The XVM can conduct bi-directional calls between WASM and EVM, regardless of the programming languages ​​the virtual machines employ. Speaking on the development was Hoon Kim – Chief Technology Officer at Astar Network:

“We’ve been working hard to create the foundation of the future, regardless of outside influences that are happening now. And today, I am proud to introduce one of our most important features to achieve the Astar Vision; the Cross-Virtual Machine (XVM). It will be the start of the next wave of innovation for dApps.

Astar will not only have interoperability through XCM (Cross-chain Messaging) with other parachains but also have interoperability between different smart contract environments.”

The XVM enables developers to explore multiple contract environments instead of having just one choice. They are also able to build a variety of complex applications that can provide many use cases, such as proving ownership of digital assets.

The Previous Developments

Star Network joined forces with the blockchain company Alchemy in August last year to amplify Web3 development on Polkadot’s ecosystem. Astar’s Founder and CEO – Sota Watanabe – explained the potential benefits of the partnership:

“Supporting the developer ecosystem is one of Astar’s core values, and our collaboration with Alchemy will help bring even more incentives and innovation to the community. Our collaboration will provide the resources needed to grow the builder community in web3 on Astar, Polkadot, and beyond.”

Astar, which is Polkadot’s leading parachain, inked Another collaboration a week later with the DeFi network Acala. The joint initiative aims to accelerate decentralized finance by introducing new opportunities to developers and rewarding them for their efforts in the Polkadot ecosystem.

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