Blockchain platform launched cross-chain communications protocol. This will replace cumbersome bridging protocols that had cost crypto industry billions.

The newly launched XCM messaging system is intended to promote Polkadot’s multichain ecosystem, which is being built on the premise of full interoperability. XCM channels are said to be secured at the same level as Polkadot’s central hub, dubbed Relay Chain, and are also available for use by parachains. XCM, in other words will allow communication between parachains as well as smart contract.