Singapore – July 11, 2023 – Moonbeam, the top destination for cross-chain connected applications, has announced a powerful new functionality that will bring transaction automation to Moonriver. Turing and OAK are developer-focused chains focused on triggering remote on-chain and cross-chain automated transactions. This integration demonstrates the power of the parachains to access specialized functionality on other parachains to seamlessly interoperate. This connection brings Moonriver developers to Turing, and real-world use cases to the ecosystem.
This XCM integration with the Turing Network, the Kusama sister network to the OAK parachain on Polkadot, makes it possible for developers to automate transactions, and also allows the movement of MOVR to Turing and TUR, Turing’s token, for use as an XC-20 inside Moonriver’s broad DApp ecosystem.
Turing and OAK Network bring specialized functionality and, because of the design of Polkadot and Kusama, any parachain can take advantage of what they offer: allowing multi-chain apps on different blockchains to schedule and automate transactions and smart contracts. With a focus on trustless automation, Turing and OAK networks optimize gas and dedicate their blockspace to storing, triggering, and executing transactions across connected blockchains. Using Turing’s transaction automation, blockchain-based organizations like DAOs can make regular payments to members for compensation, or real-world organizations that are unbanked or struggle to get access to banking services can deliver payments.
This integration leverages cross-consensus messaging (XCM) to enhance its capabilities. XCM enables Turing to automate transactions without needing to directly handle tokens or private keys. This means that OAK can interact with other blockchains, allowing for efficient cross-chain automation, expanding its reach and providing users with a broader range of possibilities.
Moonriver is integrated with a number of parachains which allows them to securely transfer assets and data. Users enjoy seamless access to their tokens and the functionality and features offered by all connected chains. As the technology matures, the offerings and the DApps available grow to accommodate new and real world use cases. XCM integrations between parachains benefit end users by providing greater accessibility, security, interoperability, and scalability in the Web3 ecosystem.
About the Moonbeam Network
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.