What is Moonbeam? Moonbeam (GLMR) is a Polkadot Blockchain-based smart contract parachain powered by Ethereum. cryptocoin.com In this article, what is Moonbeam, what it offers, what is GLMR coin, what it does, how to get it etc. We answered the questions asked by the investors. Now let’s examine this platform, which makes the restart process extremely simple.
What is Moonbeam?
Moonbeam is an Ethereum-compatible smart contract protocol that helps developers build interoperable applications. This protocol was released in January 2020 and is basically a Polkadot-based parachain. Accordingly, it promises cross-chain interoperability between Polkadot and Ethereum. Its founder, Derek Yoo, is also the CEO of PureStake. PureStake currently equips app developers and their projects with a secure Blockchain infrastructure.
Moonbeam’s development team consists of Stefan Mehlhorn, Katie Butler and Nate Hamilton, who represent the protocol in high positions. The platform is fundamentally extremely similar to an EVM compatible protocol. However, it differs from EVMs by offering a different set of features. For example, developers allow to move decentralized applications (DApps) between both networks. Additionally, it makes using Ethereum developer tools seamless in building and redeploying Solidity projects.
What does Moonbeam offer?
Features like on-chain governance, staking, and cross-chain integrations are extra add-ons of Polkadot parachain. The ecosystem also utilizes Polkadot’s segmented design and the extra scalability and security of its security umbrella. Through the protocol, developers can create multi-chain dApps. They can also move existing Ethereum or Polkadot based dApps between networks. The platform is backed by a utility token called GLMR. It also has a sister chain called Moonriver.
Moonriver is the pretest network for Moonbeam and resides on the Kusama Blockchain network. The network allows developers to test their code, DApps, and latest versions before taking them to Moonbeam. However, unlike Moonbeam, it is based on Substrate. This makes it possible to deploy Solidity-based smart contracts with minimal changes and gain access to assets based on them.
What is GLMR coin? What does it do?
GLMR coin is the native and governance token of the Moonbeam network. The token primarily forms the brain of the network and ensures its smooth functioning as a decentralized smart contract platform. Since it is at the center of its effectiveness, its network-wide function is optimal. It is also a gateway for participants to access vital functions of the network. The GLMR coin was first released through a special community event called Take Flight. This event ended with the issuance of one hundred million tokens to the public.
What is Moonbeam? How to buy GLMR coin?
Moonbeam is currently traded on Binance, MEXC, OKX, Bybit and Bitget exchanges. Those interested in GLMR coin should access one of these exchanges and follow the buying steps.
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