"Polkadot Knowledge Graph" is our entry-level article on Polkadot from zero to one. We try to start from the most basic part of Polkadot and provide you with a comprehensive understanding of Polkadot. Of course, this is a huge project. Engineering is also full of challenges. However, we hope that through such efforts, everyone can correctly understand Polkadot, and people who do not know Polkadot can easily and quickly grasp Polkadot-related knowledge. Today is the 36th issue of this column. Learn how Kusama and Statemine achieve cross-chain asset transfer.
One of the main attributes Polkadot and Kusama bring to the ecosystem is decentralized blockchain interoperability. This interoperability allows for asset teletransfer: the process of moving assets (such as Coins, tokens, or NFTs) between chains (parachains) so that they can be used like any other asset using that chain.
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How to transfer assets across chains
Here are a few things you need to know before submitting a transaction for (cross-chain) transfer.
A transaction fee is imposed on the sending chain. This fee is not automatically deducted from the transfer amount you plan to send. Your account balance should be greater than the transfer amount and transaction fees. If you don't account for sending fees, the sending transaction will fail. Sending fees will be deducted from your account balance.
Accepting the chain will charge a transaction fee. This fee is automatically deducted from the transfer amount you send. After deducting this fee, the remaining account balance of the destination chain should be greater than its existing deposit. Otherwise, the sending transaction will fail, and the sending fee and sending amount will be deducted from your account balance.
Asset teleportation can be implemented via the PolkadotJS API or externally via xcmPallet.limitedTeleportAssets(). In the example below, we will transfer KSM from Kusama to Statemine using the PolkadotJS interface.
Open the PolkadotJS application and connect to the chain with the token you want to transfer.
navigate to"Account > Transfer". this will open"transfer assets"interface.
Fill in the transaction:
"send from account (send from account)"- Select an account with active tokens.
"destination chain"- Select the parachain to which the asset will be sent.
"send to address"- Select the account you want to transfer the control coin on the target chain.
"amount (amount)"- Insert the amount of tokens you want to transfer. This does not include transfer transaction fees After viewing transaction information and fees, click"Teleport "click
click"Sign and Submit"。
Enter your password and click"Sign the transaction"。
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If you don't see it in your PolkadotJS application
If you don't see it in your PolkadotJS application"Account > Send", which means that the source chain you selected does not yet support the teleportation function. As of June 2021, unsupported chains include Polkadot mainnet, Rococo testnet, and their respective parachains.
Our popular science section has introduced Statemine, a public interest parachain used to create and manage assets, more than once. It has practical functions such as asset storage, cross-chain messages, proxy, and multi-signature.
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