Thread by @ChenOutOfChen

1/🌐 As #Web3 goes multi-chain, #interoperability becomes vital.

Will @Polkadot's soon-to-be-released XCMP or @cosmos's IBC emerge as the dominant protocol?

In collaboration with @d1ventures, we try to answer this important question through a UX lens for end-users. #XCMP #IBC

Note: XCMP = Cross Chain Message Passing, IBC = Inter Blockchain Communication

2/🔗 #XCMP is @Polkadot's native protocol for interchain communication using XCM format, while #IBC is @cosmos's general-purpose protocol, enabling communication even between blockchains with different consensus mechanisms or token economies.

3/🎯 User Experiences are critical: the long-term success of all #dApps Web3 depends on well-designed UIs & superior UX to competitors. Thus, mass adoption of XCMP or IBC will be influenced by end users' experiences when using dApps implementing these protocols. #userexperience

4/💬 "Good user experience is not about the average case, it is about the worst case." - @VitalikButerin. XCMP offers a more seamless & consistent experience for dApps built on Polkadot parachains, coming from fewer, but higher quality dApps and interconnectedness of parachains.

5/🧩 With #IBC dApps, users may need to navigate different wallet systems, token standards, and transaction processes specific to each connected blockchain network. This may be a lot to keep track of for less crypto-native users, so developers must be mindful of this.

6/🔮 It's important to note that while #IBC is live, XCMP is still in development. Polkadot currently uses HRMP, a less scalable message-passing protocol. An update to XCMP will move from a hub & spoke model to point-to-point -- O(n^2) vs O(n) scaling where n = num of parachains.

7/🛠️ Transitioning from HRMP to XCMP won't impact end-users, except for higher throughput/TPS. XCMP will reduce bloat on the relay chain by removing cross-chain message traffic, enabling more behind-the-scenes communication between chains.

8/⏳ According to Web3 Foundation engineers, XCMP's release is expected in early to mid-2024. It's currently a secondary goal, as the relay chain is far from its capacity, and other improvements like asynchronous backing & new scheduling procedures take priority. #Polkadot #Web3

9/👩‍💻 Dev Experience: @cosmos offers an easier dev experience with its Cosmos SDK which makes IBC adoption low-barrier, leading to more dApps (tho they tend to be smaller, simpler projects). @Polkadot's XCM has a steeper learning curve but enables more powerful & complex dApps.

10/🌟 Implication for end-users: Cosmos feels more cohesive now, but once Polkadot's infrastructure catches up, XCM's flexibility may lead to more impressive & innovative dApps. The future is exciting for both ecosystems!

11/🛡️ The Final Differentiator: Shared Security - @Polkadot's XCMP shared security model relies on the central relay chain, forming a robust defense against attacks. This allows smaller parachains to leverage the security of the entire network.

12/🔒 In contrast, @cosmos launched Interchain Security in 2023. Previously, IBC users had to assess the security of each connected chain, unlike XCMP, which provides uniform security across all parachains. Thus, XCMP users enjoy a reduced need to evaluate each chain's security.

13/💡 It's not a perfect analogy, but you can think of Polkadot like Apple's iOS (robust security, fewer options but high-quality dApps, seamless UX) while Cosmos is more like Android (broader selection of apps, higher variance in experience).

14/🌙 Case Study - @MoonbeamNetwork: a vital Polkadot parachain that acts as a communication hub (using XCM), enabling users to call contracts on connected chains, providing a unified access point to other networks from in Polkadot (no need to switch networks or pay native gas).

15/🌐 Moonbeam has a smooth UX, with simple cross chain interactions. Also, it interoperates with other Polkadot parachains, like OAK network, showcasing how Polkadot is an ecosystem where chains synergize to provide compounded user value instead of acting as independent chains.

16/⏳Now: @cosmos > @Polkadot. BUT my hot take: in a few years, Polkadot > Cosmos. Cosmos may grow faster now, but Polkadot's shared security, XCM expressiveness, and more consistent ecosystem could eventually outpace Cosmos, fueled by better average + worst case user experiences

17/🔮Only time will tell if there's room for both to coexist or if one will become THE Internet of Blockchains. For now, both ecosystems continue to evolve, offering unique solutions to the world of interconnected blockchains. #XCMP #IBC /END OF THREAD

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