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Where is Moonbeam going? Position overview

Moon sign A blockchain project created in January 2020 as a way to address cross-chain interoperability challenges, it is an Ethereum compatible smart contract parachine on Polkadot. For those who are not familiar with Polkadot, it is a multi-blockchain platform where projects can have their own blockchain designed to meet their specific needs rather than using a general-purpose blockchain. , Which may not have all their requirements. The Polkadot network includes several projects such as Akala Network, Kilt, etc. One of these is Moonbeam Network.

What is moonbeam

Moonbeam was created to solve interoperability problems by making the deployment of apps on the Polkadot network easier and simpler. It is typically designed for developers who can now use the same tools they use on Ethereum to develop apps on the Polkadot network, making it possible to recreate the dapps on Ethereum on Moonbeam Thereby, such app cross-chain operation capability.

The Moonbeam blockchain has a full EVM implementation, which means that all the dapps and smart contracts on Ethereum can be deployed on the Moonbeam network with no changes. It also has other capabilities such as publish-subscribe and compatibility with Ethereum addresses. All these enable developers to port existing Dap Frontend and Solidarity Smart Contracts directly to Moonbeam with minor modifications.

As a parachon on the Polkadot network, Moonbeam enjoys the benefit of shared security. As the network enables that functionality, it also has the ability to integrate with other blockchains on the network.

Moonbeam Solidity provides developers with a better user experience when it comes to building on Polkadot. Languages ​​are similar, and so are tools. You will also not need to obtain a new address, account or signature as you can use your current Ethereum H160 accounts and ECDSA signatures to interact with Moonbeam.

As a platform, Moonbeam is linking Polkadot and Ethereum together by allowing Dapp and Projects to deploy on Ethereum to Polkadot and access to new users and tokens available on the platform. Thus, Moonbeam is essentially intended for three sets of audiences:

  • Existing Ethereum projects are looking to solve the cost and scalability problem on Ethereum.
  • Projects on Polkadot require smart contract functionality.
  • Developers of dapps who want to build on Polkadot.

Recent big event on Moonbeam

Since its launch, Moonbeam has been able to secure key partnerships with Linear Finance, Sushi Swap, Bet Protocol, Injective Protocol, and others committed to building their projects on Moonbeam as it broadens its reach for them. Provides an easy route to. Polkadot Network.

Some of these projects were screened Roshan / 21 The event was held on April 27, 2021. The event was held to celebrate multi-chain projects with various demos on Moonbeam and talks revolving around the Moonbeam network ecosystem. Event attendees got a chance to see the creation of many incredible projects on the network.

The virtual event, which was like an online mini-conference, was not just about showcasing projects. There were also presentations of a technical and non-technical nature, which meant that everyone could feel what to expect from the Moonbeam network when it finally launched. Everything from projects to integration was discussed and their impact on blockchain interoperability was elucidated. In fact, everyone who attended the event felt more educated and excited about the Moonbeam network.

Polkadot. Crowdlon on

While Moonbeam Network has not yet gone live as Polkadot Parachins is not yet active, even though the relay chain has been live for almost a year now; Currently, the platform is being auctioned on the Parachain slot, which is a way for projects to own blockchains on the Polkadot network. Using multiple projects Mob loan To secure the money required to bid in these auctions.

Top Polkadot Project

So far, Moonbeam remains the top parachine on the Polkadot network. This is because it is the only platform that offers full Ethereum compatibility with capabilities that no other parachine can claim. Others provide only partial features but with Moonbeam, it is almost as if you are using Ethereum, but with lower cost and better scalability.

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Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.