TL;DR: Zeitgeist announces the integration of smart contracts through Polkadot’s XCM v3 release, enabling automated prediction markets and liquidity management. This advancement provides increased flexibility and trust, enabling developers to explore innovative applications and contribute to the growth of DeFi. The updated XCM features enhance smart contract functionality on the Zeitgeist platform, while Polkadot’s interoperability features support an expansive ecosystem and global accessibility for prediction markets.
Zeitgeist Integrates Polkadot’s XCM v3 Release
Zeitgeist, a blockchain platform for futarchy and prediction markets, has announced the integration of smart contract functionality into its protocol. This integration utilizes Polkadot’s recent XCM v3 release and allows developers and users to automate the creation, participation, and resolution of prediction markets, as well as manage liquidity automatically.
The addition of smart contract functionality presents developers with the opportunity to leverage Zeitgeist’s advanced decentralized prediction market primitives and explore the platform’s SDK to develop innovative applications. This move enhances flexibility and trust for users and enables developers to assess the usability of smart contracts, further advancing the development of decentralized finance (DeFi) and other aspects of the industry.
Logan Saether, CEO of Zeitgeist, said that it represents a significant step forward for developers. He believes that the deployment of smart contracts, combined with the improvements brought by Polkadot’s XCM v3, will greatly enhance the services and features available to Zeitgeist’s users and developers.
Zeitgeist will leverage the programmability features of the updated XCM, including expectations, conditionals, contest tracking, and branching, to enhance its smart contract functionality. One crucial feature, remote locking, enables Zeitgeist to request the locking of assets on other chains, ensuring interoperability and security between different blockchains.
Polkadot’s XCM v3 introduces improved cross-chain communication and interoperability features, such as multi-hop setups enabled by the new junction called GlobalConsensus. These features support Zeitgeist in its mission to create a vast, interconnected ecosystem. By extending beyond the Polkadot ecosystem, Zeitgeist enables global access and utilization of prediction markets.