Runtime 1701 Includes New Connected Contract Functionality to Enable Other Parachains to Interact with the Moonbeam EVM, Now in Testing
Boston, MA – August 4, 2022 – Moonbeam, the top destination for cross-chain connected applications, has introduced new functionality that pushes cross-chain connectivity within Polkadot to the next level. The latest upgrade, runtime 1701, includes the first proof-of-concept for EVM access through XCM on its Moonbase Alpha TestNet, with plans to bring this technology to Moonriver and Moonbeam in the near future. This upgrade also brings the capability for token holders to vote in governance with assets locked in non-custodial staking, as well as an identity registrar for on-chain identity verification; these features are now live on Moonriver and Moonbeam.
XCM (Polkadot’s cross-consensus messaging format) continues to mature and connected smart contracts are actively being deployed to Moonbeam, which allows those applications to tap into Polkadot as well as remote blockchains. These advancements and expanding capabilities of cross-chain messaging open new doors for innovation, including the new XCM to EVM Call. While this use case is currently available for testing on Moonbase Alpha, it foreshadows the future of interoperability and the role Moonbeam will play in allowing developers to build applications that interact with many chains at once.
The XCM to EVM feature allows developers on other chains to trigger function calls on Moonbeam’s EVM and access all of its features from their home chains. XCM-integrated chains will interact with Moonbeam EVM to execute logic trustlessly using Substrate-native logic. Developers from within the Polkadot ecosystem can also use EVM over XCM to access general message passing protocols like Axelar, which allows them to communicate with other blockchains outside of the ecosystem like Ethereum, Cosmos, and Avalanche.
XCM to EVM complements the already-existing XCM Transactor functionality that allows connected contracts on Moonbeam to send XCM messages to remote chains. By allowing connected applications to access not only the functionality of the Relay Chain, but also cross-chain features from other chains, developers are able to utilize Moonbeam’s unmatched Ethereum-style development environment while building next-generation applications. This is part of Moonbeam’s greater vision to address the fragmented user experience, liquidity, and functionality that exists in today’s siloed multi-chain application environment.
The runtime 1700 releases also include:
- Voting with Staked Assets: The ability for users to vote in governance with staked GLMR or MOVR. This means that tokens locked in non-custodial staking such as delegations on the Moonbeam DApp will remain locked while also being available for participation in voting.
- On-Chain Identity: This registrar will allow users to connect their identity to an address and verify it without the need for a third party.
The voting with locked assets feature helps maintain Moonbeam’s decentralized and trustless blockchain environment by supporting participation in governance while preserving the stability of the proof-of-stake network. By making tokens locked in delegation to collators available for voting without unstaking them there are more opportunities for token holders to participate in governance.
Some interactions on the blockchain require verification of identity, and these checks are often carried out by front-end off-chain solutions. The on-chain identity verifier now on Moonriver allows users who choose to identify themselves and verify their identity truestlessly. Collators may wish to identify themselves to reassure delegators and dissuade imitators using the same names.
Runtime 1700 upgrades went live on Moonriver last week and on Moonbeam today. For more information about these changes, please visit the official Moonbeam Discord server.
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.
