Polkadot has released Cross-Consensus Messaging (XCM) Version 3, which enhances interoperability across the blockchains it supports. Gavin Wood, co-founder of Polkadot, announced that the code for the upgrade has been committed to the master branch of the initiative’s GitHub repository. The updated iteration of XCM is ready to go after 15 months of development, and it is compatible with all parachains in the Polkadot environment.
Polkadot has enhanced its inter-blockchain asset transfer abilities with XCM version 3, which is relevant to both traditional tokens and NFTs (non-fungible tokens).
The major focus of the most recent version is enhanced programmability, which opens up a vast variety of fresh opportunities for employing tokens across multiple chains. Tokens, for instance, may be frozen on one chain and unlocked on another.