TOP 10 Polkadot Parachains of 2022
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Moonbeam Parachain
The Beginner's Guide
The Moonbeam Network is a parachain that promises cross-chain interoperability between the Ethereum and Polkadot blockchains. Concreting, Moonbeam is a smart contract platform that enables developers to move dApps between the two networks without having to rewrite code or redeploy infrastructure.
Table of Contents
1. PROJECT
What is Moonbeam Crypto?
EVM compatible Polkadot Parachain
The Moonbeam Network is a parachain that promises cross-chain interoperability between the Ethereum and Polkadot blockchains. Concreting, Moonbeam is a smart contract platform that enables developers to move dApps between the two networks without having to rewrite code or redeploy infrastructure.
Everything you need to know about the Moonbeam Network
Moonbeam aims to provide developers with the ability to port existing Ethereum dApps or create new dApps using popular Ethereum development tools
- A decentralized and permissionless network.
- Full support for the Ethereum Virtual Machine. In this way, any smart contract built for Ethereum can work on Moonbeam without major modifications.
- Support for the Web3 RPC API, allowing the operation of existing DApps and tools on top of Moonbeam. Thanks to this you can use wallets like MetaMask to interact with dApps within the Moonbeam Network.
- Support for Polkadot’s Substrate technology and other compatible networks.
- On-chain governance system using Glimmer tokens (GLMR), the utility token of the Moonbeam network.
Introduction Guide to Moonbeam Network
SmartContracts
Moonbeam is an EVM compatible smart contract Polkadot parachain (L1 secured by Polkadot’s consensus).
Moonbeam is a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.
With Moonbeam we will be able to connect popular tools like MetaMask, Hardhat, Remix, Waffle, and Truffle via a set of Web3 RPC endpoints. Famous JavaScript libraries such as Web3.js or Ethers.js can also be used. Moonbeam was started by Derek Yoo of Pure stake in 2019.
Moonbeam is the parachain built with Substrate that makes the entire operation of the Moonbeam network possible. The operation of this network is made possible by the nodes software for Moonbeam, which makes possible the work of two important actors:
- Collators or Collectors, who are in charge of collecting all the operations carried out in the Moonbeam parachain and verifying that they comply with the operating and consensus rules of the parachain. Basically, the collators work as if they were the validators of a Proof of Stake network, and in fact, the consensus protocol in Moonbeam is DPoS, following the operating and consensus model provided by Polkadot (the NPoS protocol). That said, to be a collator in Moonbeam, it is necessary that we do delegate staking within the network and for said staking we will be receiving a small reward.
- RPC Endpoints, these are the points that allow us to use wallets like MetaMask to interact with the Moonbeam Network. PureStake has provided the RPC network for this purpose. But, anyone who installs a Moonbeam node can create their own RPC and use it to bypass third-party RPC endpoints.
2. TOKEN
What is Glimmer Token (GLMR)?
Glimmer (GLMR) is the utility and governance token of the Moonbeam Network with which users can participate in governance, pay transaction fees and earn rewards by providing liquidity and staking. Moonbeam is targeting a 5% annual inflation rate and as such has an unlimited supply of tokens.
Source: Moonbeam Network
How to stake GLMR Token on Moonbeam
Moonbeam’s reliance on Polkadot’s NPoS means that on this network, every node participating in it must stake. The system devised by the developers of Moonbeam in this case is quite curious.
First of all, there are the collector nodes or block producers. The job of these nodes is to collect user transactions and produce state transition tests to be validated. Next we have the nominating nodes, whose role is to carry out the necessary staking within the system to have the power to vote and endorse the work of the collectors. In other words, the nominators are the ones who carry out the process of consensus and validation of the work within Moonbeam.
Like any staking system, nominators must “hold” a certain number of tokens with which to earn their share of the system. At the moment, as Moonbeam is a system under development, the system’s tokenomics (token economy) has not been defined, so no staking values ​​per node or rewards per block are known.
3. NEWS
Moonbeam News
4. GUIDES
Moonbeam Guides & Education
5. ECOSYSTEM
Moonbeam Ecosystem
2. DEXs
- Solarflare
- Stellaswap
- Beamswap
- Zenlink
- Sushiswap
- Curve
- Convergence
- Sushiswap
3. Block Explorers
Source: Moonbeam Network
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