Amazing ideas create great designs, and this is exactly the case with Moonbeam. Founded by Derek Yoo, CEO of PureStake, this Polkadot smart contract platform provides developers with an affordable and scalable alternative to other developer projects.
The project aims to confirm the connection and integration between Polkadot Parachains with other chains (Bitcoin or Ethereum) across bridges. By offering smart contracts, as well as the interoperability of the Polkadot blockchain with Ethereum developers, Moonbeam believes the future of blockchain is "a multi-chain multi-chain."
Quite a few projects focus on blockchain interoperability. However, what sets Moonbeam apart from others is that it provides a framework for blockchains to interoperate seamlessly with Ethereum. The Moonbeam network will allow Ethereum developers to expand their influence in the Polkadot ecosystem, and its blockchain will ensure the seamless exchange of workloads at each new level.
With Moonbeam, Ethereum developers will be able to port their existing decentralized apps to Polkadot, or easily create new dApps using familiar development tools. Thanks to Moonbeam tools, front-end dApps can be moved between chains with minimal changes.
Another benefit of Moonbeam is the ability to circumvent the scalability issues caused by the limitations and costs of the Ethereum network.
The bridges and the Polkadot token network means Moonbeam will support token movement, state visibility, and messaging across various chains and Ethereum.
Glimmer (GLMR) is a Moonbeam token issued through Take Flight (a private community event). During this community event, 100,000,000 GLMRs were issued, which is 10% of the total. In total, Moonbeam will have 1,000,000,000 GLMR tokens.
The Moonbeam project will use the token for decentralized network governance. It will serve as a gateway for all participants to access vital network functions. All GLMR holders will have the right to vote, elect councilors, and propose various referendums.
Moonbeam will benefit from the added scalability and security of using the Polkadot Shared Security Umbrella and Segmented Design.
Moonbeam was launched in January 2020 and has already found support from many investors and developers around the world.
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