Disclaimer: Information as of Dec 17, 2021. For the most recent updates, dive into our comprehensive documentation here.
With the recent launch of our Composable crowdloan, we are hard at work again to secure a parachain slot at the auction. The Composable Parachain is essential to helping us build the face of DeFi’s Future. Acquiring a Polkadot parachain will enable us to provide the necessary blockchain-agnostic functionality that is required to achieve a truly seamless user experience.
What does the Composable Parachain mean for us?
At Composable Finance, we have been working towards shaping the future of DeFi into one that is rooted in cross-chain interoperability. However, the vision stretches beyond the transfer of assets and basic communication across ecosystems. Using every piece in our interoperable toolset, from our Picasso parachain to the Mosaic bridge, Composable is working to achieve a purely blockchain-agnostic user experience for all of DeFi. A key part of this, of course, will be the Composable Parachain on Polkadot.
The Composable Parachain provides a solution to several issues that currently plague the industry. Instead of splintered cross-chain communication hubs, Composable brings a clear pathway for adaptive and scalable cross-chain communication across new and existing ecosystems. This infrastructure leads to blockchain-agonistic behavior where applications can be deployed across different layers and chains while having their different components communicate with one another.
Composable’s technology and infrastructure thus provide new forms of accessibility and utility throughout the broader DeFi ecosystem. It results in freedom for both end-users and developers, expanding the functionality beyond manually moving assets between different applications and chains. Composable’s technology is able to provide users with efficiency in achieving their end goal without complications from moving between different layers and chains. The cross-chain infrastructure is also positioned to benefit traditional finance and the broader Web 2.0 ecosystem.
The realization of a blockchain-agnostic functionality relies heavily on securing a Polkadot parachain. With the help of Composable’s cross-chain infrastructure, the Composable Parachain on Polkadot will provide the means to reduce the current complications in DeFi while allowing for seamless, ecosystem-agnostic user experiences.
Infrastructure: deep dive into the technical synergies
Our two parachains in the Dotsama ecosystem, and particularly the Composable Parachain, are cornerstones of Composable’s infrastructure that will allow us to build a blockchain-agnostic user experience throughout DeFi.
As the home for the creation and deployment of numerous cross-chain functionalities and applications, Picasso will serve as the finality layer for the facilitation of cross-chain interoperability. This interoperability is possible with Mosaic serving as a liquidity layer across EVM-compatible ecosystems, and Centauri connecting Picasso to IBC-enabled ecosystems. Beyond that, Picasso will be able to communicate with other parachains within the Dotsama ecosystem — including the Composable Parachain — thanks to the Cross-Consensus Message Format (XCM).
The Composable Parachain will have similar interoperable capabilities through access to the same bridges; however, our Polkadot parachain will also house the Composable Cross-Chain Virtual Machine (XCVM) and the Composable Routing Layer.
To envision the XCVM, imagine a virtual machine orchestrating the interaction between different bridges while providing route management, callbacks into smart contracts, reliability and finality. On the other hand, the Composable Routing Layer will serve as a pathway execution layer to secure the best route for a user’s action. Both the Routing Layer and XCVM require robust security — a key addition that is compounded by the Polkadot network security offerings.
The relationship between Picasso and the Composable Parachain will mirror that of the Polkadot and Kusama ecosystems. To explain in brief, Picasso will serve as a canary network-like environment: a place of true creativity where interoperable-minded projects can deploy and develop pallets, protocols and dApps. The most promising innovations on Picasso will have the opportunity to be further upgraded onto the Composable Parachain through our token governance.
The success of our Kusama parachain procurement process has us hopeful and grateful for the support from our community. Our shared vision for the future of DeFi is becoming realized with each step we take in developing our infrastructure.
The Composable Parachain is the next massive goal and milestone that will continue us on our path to developing a seamless, ecosystem-agnostic user experience. As the complete interoperability of our industry draws nearer, we appreciate everyone who has contributed to our crowdloan and shares our vision to make it happen.
For those interested in deep diving into the technical infrastructure and our careful consideration of the process, read up on 0xBrainjar’s article here.
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