What is Moonbeam

Article Summary, Automatically Generated By AI

About Moonbeam

Key Points

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot.
It allows developers to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.
Moonbeam extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.
It provides integration and connectivity between Polkadot Parachains and other chains such as Ethereum and Bitcoin via bridges.

Founders

Derek Yoo, CEO of PureStake, founded Moonbeam in 2019.
Stefan Mehlhorn

Introducing Moonbeam: A Beacon of Innovation in the Cosmos of Blockchain

Introducing Moonbeam (GLMR): A Comprehensive Overview

Moonbeam is an Ethereum-compatible smart contract parachain seamlessly integrated within the Polkadot ecosystem. By leveraging the power of Moonbeam, developers can effortlessly utilize popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment, unlocking a new realm of possibilities.

Moonbeam transcends a mere EVM implementation, functioning as a highly specialized parachain that meticulously replicates Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform elevates the base Ethereum feature set by incorporating additional functionalities, including on-chain governance, staking, and cross-chain integrations.

Moonbeam boasts unparalleled Ethereum compatibility:

Seamless Integration: leverage existing Solidity smart contracts without modification, eliminating the need for rewriting or reconfiguration.
Interoperability with Familiar Tools: seamlessly connect popular development tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a comprehensive set of Web3 RPC endpoints, and utilize well-established Javascript libraries such as Web3.Js or Ethers.Js.
Unified Identity Management: utilize your existing Ethereum H160 accounts and ECDSA signatures to interact with Moonbeam, ensuring a cohesive experience.
Unlock the Power of Polkadot’s Ecosystem: tap into the vast array of existing integrations on Moonbeam, including oracles, bridges, wallets, and other tools, to amplify your development capabilities.

Seamless Integration: developers can leverage existing Solidity smart contracts immediately, without the need for rewriting or reconfiguration.

Leverage Familiar Developer Tools: Seamlessly integrate popular solutions like MetaMask, Hardhat, Waffle, Remix, and Truffle via a comprehensive suite of Web3 RPC endpoints. Harness the power of renowned Javascript libraries, including Web3.Js and Ethers.Js.

Seamless Integration: Leverage your existing Ethereum H160 accounts and ECDSA signatures to effortlessly interact with Moonbeam.

Unlock Seamless Interoperability on Polkadot: Leverage the Power of Existing Oracles, Bridges, Wallets, and Tools Already Integrated with Moonbeam

Moonbeam facilitates seamless integration and connectivity between Polkadot Parachains, as well as interoperability with other prominent chains, including Ethereum and Bitcoin, through the deployment of bridges. Founded in 2019 by Derek Yoo, CEO of Pure Stake, Moonbeam has been at the forefront of blockchain innovation.

The Visionaries Behind Moonbeam: Meet the Founders

The Moonbeam Network was established by Derek Yoo, the visionary CEO of PureStake, a pioneering platform that furnishes secure and dependable public blockchain infrastructure to empower blockchain application developers, projects, and enterprises.

Stefan Mehlhorn, a seasoned expert in early-stage company management and operations, assumes the role of Chief Operations Officer at both Moonbeam and PureStake. His impressive professional background includes tenures at esteemed organizations such as Samsung Pay, Candibell Inc., LoopPay, Permessa, and Thinking Phone Network, among others.

Katie Butler and Nate Hamilton, esteemed leaders from PureStake, spearhead the marketing and business development divisions of the Moonbeam Network, respectively.

For a deeper dive into our team’s composition and expertise, please visit:

https://www.purestake.com/about/

Unveiling the Unparalleled Attributes of Moonbeam

Moonbeam provides a familiar Ethereum-like environment, built atop Substrate, rather than relying on a Geth-based solution. This enables developers to seamlessly redeploy their existing smart contracts, leveraging the same tools and integrations they are accustomed to, while also harnessing the benefits of the modern Substrate framework that underpins all Polkadot parachains.

The Moonbeam network empowers developers with Solidity or Vyper-based smart contracts to transcend their existing limitations and expand their reach into the Polkadot ecosystem, thereby achieving a multi-chain presence. By leveraging Polkadot’s blockchain, workloads can be seamlessly shared across a novel layer, fostering unparalleled interoperability.

By leveraging Moonbeam, developers can seamlessly migrate their existing Ethereum decentralized applications (dApps) to Polkadot or effortlessly create novel permissionless dApps utilizing familiar Ethereum development tools. The Moonbeam toolkit ensures a seamless transition, minimizing modifications when front-end dApps are redeployed across chains.

By leveraging Moonbeam, the vast contingent of Ethereum developers (constituting the largest market of existing blockchain developers) will be empowered to circumvent the scalability hurdles posed by the exorbitant costs and constraints inherent to the Ethereum network.

What Is the Circulating Supply of Moonbeam (GLMR) Coins?

The native token of Moonbeam, dubbed Glimmer (GLMR), was introduced via an exclusive private community event, aptly named Take Flight. Notably, during this inaugural Moonbeam community event, a total of 100,000,000 GLMR tokens (constituting 10% of the overall supply) were issued.

A total of 1,000,000,000 GLMR tokens will be minted, accompanied by an annual inflation rate of 5%, thereby resulting in an uncapped token supply. The token distribution is outlined as follows.

The Moonbeam Network’s Security Paradigm

The Moonbeam project is embarking on a journey towards decentralized governance. The utility token, Glimmer (GLMR), will assume a pivotal role as the gateway for network participants to access the network’s essential functions.

Holders of GLMR will be endowed with the privilege of proposing referenda, exercising their voting rights, and electing council members, thereby mirroring Polkadot’s nominated proof-of-stake consensus mechanism. By leveraging Polkadot’s sharded design and shared security umbrella, Moonbeam reaps the benefits of enhanced scalability and bolstered security.

Where to Acquire Moonbeam (GLMR): A Comprehensive Guide

Depending on your geographical location, you can acquire GLMR through the centralized exchanges listed on CoinmarketCap.

Alternatively, users can leverage certain DeFi protocols built on Moonbeam, which can be discovered through DappRadar, Moonbeam’s official website, or DefiLlama. It is essential to conduct thorough research and due diligence before utilizing DeFi protocols on Moonbeam.

Associated Resources

For a more in-depth, technical examination of Moonbeam,

click here

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Delve into the world of cryptocurrency with our in-depth exploration of Initial Coin Offerings (ICOs), uncovering the intricacies of this innovative fundraising phenomenon.

Discover the inaugural Initial Coin Offering of Moonbeam (GLMR) here.

Discover the power of Parachains and unlock their numerous advantages by clicking

here

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