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This is obviously a very high-level description! For more detail, I recommend reading Gav's description in the Medium post here: https://medium.com/polkadot-network/xcm-the-cross-consensus-message-format-3b77b1373392 or if you really want to dig in, you can review the code here: https://github.com/paritytech/polkadot/tree/59aa955576e963942c60e3ae8f8316444b66cafb/xcm
NOTE:
The number of mentions on this list indicates mentions on common posts plus user suggested alternatives.
Hence, a higher number means a more popular project.