t3rn announces the completion of its second grant from the Web3 Foundation
We are thrilled to announce that we have successfully completed our second grant from the Web3 Foundation. This grant has enabled us to focus on the development of the XBI standard, which we believe will be a valuable asset for Polkadot parachains and the broader Web3 community. We are excited about the progress we have made and the impact that the XBI standard will have in the future.
The XBI standard was developed in response to the current challenges faced in connecting popular smart contracts across different consensus systems in the Polkadot ecosystem. After careful analysis, we determined that there is a need for a more streamlined and reliable solution. That's why we created XBI – a high-level interface that enables trustless and seamless intercommunication between parachains. By integrating XBI, Polkadot parachains can easily connect and collaborate with one another, whether using EVM or WASM.
At t3rn, we are proud to announce that the XBI standard is now open source and available for the wider blockchain community to use and contribute to. We have been working diligently to bring this project to fruition, and we believe it has the potential to be a valuable resource for many projects. That's why we are encouraging contributions from a diverse range of projects – we want to see the XBI standard adopted widely and put to use in a variety of innovative applications. We are excited to see what the community will create with it.
Solving the “what now?” problem
This grant phase was about developing the initial standard to fit every project involved in the early days of XBI, working with other parachains in the ecosystem.
During this grant phase, our focus was on developing the XBI standard, which not only provides an interface for using XCM::transact, but also addresses the "edge of the world" problem of asynchronous messaging. XBI enables users to specify timeouts and cost limits in the message metadata, then uses the XBI Timesheet to validate the cost and duration of each transaction step. In this way, XBI helps users to confidently and efficiently send XCM messages.
Along each step, a parachain will stamp its processing time to be validated by XBI on the round trip, eventually updating the message with the correct status.
After we have completed the first milestones, t3rn aims to provide improvements to the XBI standard over the next few months, to make it easier for projects in the Polkadot ecosystem to adopt. These improvements will be made available on the t3rn Github repository, so interested parties should keep an eye on the repository for updates and new features.
“t3rn was created to enable trust-free collaboration between blockchains and harness this synergy by creating an ecosystem where anyone can utilize, deploy, and develop composable multichain smart contracts”, said Jacob Kowalewski, t3rn’s CSO. “Obtaining a second grant from the Web3 Foundation empowers us to continue building this model”, concluded.
Web3 Foundation Grants t3rn trajectory
In support of its mission, the Web3 Foundation grants program funds software development and research in the field of decentralized software protocols.
In 2020, t3rn received a grant from the Web3 Foundation to deliver a proof of concept of an innovative solution for bringing smart contract interoperability, starting with the Polkadot ecosystem.
We would like to thank the Web3 Foundation for their support, and we look forward to continuing to work with them on other projects in the future.
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