In discussions with Gav and Kian at the Cambridge Blockchain Academy, I was describing some of the pains that wallet developers face trying to program a single wallet application that works across multiple parachains, each with their own potential token pallet and API.
Gav quickly pointed out that this is yet another problem XCM solves.
You can have the wallet initiate a DOT transfer, directly on Polkadot, but using XCM to abstract away the specific pallet and apis underneath, rather than directly calling into the balances pallet as most wallets would do. In this way, this well formed XCM transfer call should work on any chain which supports XCM, independent of the pallets being used or anything like that.
Similarly, querying balances across all the chains is a big pain in the butt, and something that Kian can attest to, having made some apps that do this.
Instead, XCM again can be used to query a balance of a user, in some chain agnostic way. We would probably need to add some special XCM RPCs to properly support this scenario, but the point is that we do not actually need to require that each team implement a whole bunch of standards except for integration with XCM.
So in this case, we must ultimately see that XCM is not only about “cross-consensus” messages, but also messages within a single chain, and a way to talk to chains independent of the underlying implementation details.
NOTE: There is still a lot of work that we need to do in XCM to really support this vision end to end, but this is certainly the direction we all should be going, versus trying to standardize our parachain community at other layers, like pallets or rpcs or whatever. Standardizing at those layers would actually stifle growth and innovation of our products.
I can imagine an XCM-based runtime API that receives an input MultiAsset and an account id as input, and returns all of the assets belonging to that user account, and matches to that MultiAsset. If the MultiAsset is a wildcard, it would mean “give me all of the tokens belonging to this user”.
What I wonder is about the return type of this API. Should it still be the super generic XCM types like MultiAsset? probably no, and we’d only use MultiAsset as the query input. Instead, we need a more detailed return type that fulfills details such as:
Generally, I think abstracting balances behind XCM makes a lot of sense for transfers, but I am bit worried if it is reasonable for read-only operations. All we need is a standard return type and an API like:
Not sure what values XCM can add to this (beyond the filtering, which I am not quite sure if it is actually sensible).
Regardless of with or without XCM: we can actually implement this first-hand on Polkadot. Historically, if you were to deposit your funds in crowdloans, it would be lost in your wallets. Nowadays, most wallets have implemented fix. Soon, nomination pools will have a very similar mechanism. Once you deposit funds into a pool, it will disappear from most wallets until they tediously fix it manually. Hopefully we can standardize this soon that nomination pools would be implemented in the more scalable way.