Moonriver and Turing Network create HRMP channel

Following the testing of Moonbase Alpha and OAK Network’s staging situation, Moonriver and Turing Network parachains which are built on Kusama, are creating an HRMP channel between parachains for building advanced automation functions with the utilization of XCM within the Moonriver ecosystem. The next is Moonbeam. 

Moonriver is a solidity smart contract platform, along with being a canary network, in terms of the Moonbeam parachain. These are two prime parachains within the ecosystem. OAK Network has plans to join up with the teams engaged with Moonriver by creating various products and dApps. Following adequate testing of OAK and Moonbeam, what the engineering team members are waiting for is the incorporation of XCM automation with the Moonriver ecosystem.

The link between Moonriver and Turing Network will be instrumental in the building of the XCM automation function, which can be utilized in the case of all applications created and running on Moonriver. The MOVR token owners voting on the Moonriver governance platform helps in creating the HRMP channel and listing the cross-chain asset, xcTUR. The proposal went through. Moonriver comes with Polkadot and Kusama-oriented projects like Moonwell DeFi Liquidity Well and Solarbeam DEX. 

Builders and developers attached to Moonriver and Moonbeam will have the opportunity of utilizing OAK Network’s distant implementation and automation functions for building fresh products in tune with the Moonbuilder’s program. OAK Network has been instrumental in building various means to help builders to incorporate Moonriver and Turing Network. 

OAK Network and Turing provide the option for parachains, such as Moonriver, to be able to use event-oriented implementation for carrying out transactions and smart contract activities. Users are offered facilities like recurring payments and auto-compounding rewards against services rendered, like yield farming and liquidity options. XCM provides the option for Turing Network to set up cross-chain automation, allowing multi-chain applications to automate particulars on Moonriver. 

The team members of OAK Network are engaged with Moonriver and Moonbeam for the building of unique services and products and forwarding them to the Polkadot ecosystem. They have tied up with various projects to boost the Polkadot community. This information is derived from the discussion held by OAK Network’s Founder, Chris Li, and Katie Butler of Moonbeam. 

Where OAK Network is concerned, it is a Layer 1 blockchain that provides the option for multi-chain applications to be able to automate one or repeat transactions by making use of simplified instructions. 

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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