What is Moonbeam (GLMR)?
Moonbeam is a smart contract platform and parachain built on Polkadot
that is fully compatible with Ethereum. Many smart contract platforms are designed for one specific network. As a result, decentralized applications are not compatible with other blockchains. Moonbeam's cross-chain functionality allows developers to extend their dApps to other chains.
Projects and dApps built on Ethereum can therefore enjoy the benefits of Polkadot's network. This provides not only a wider reach but also cheaper transactions in another network.
How does Moonbeam work?
Interoperability between blockchains and networks is necessary for the future of crypto. Currently, there are too many blockchains that cannot interoperate with each other. Moonbeam, therefore, uses parachains to offer cross-chain functionality. Moonbeam allows smart contracts and dApps to work with each other, also between different blockchains.
Polkadot is a multichain network that enables interoperability with more than 100 parachains thanks to the Relay Chain, the main network and heart of Polkadot. A parachain is a project-specific blockchain around the Relay Chain. This offers shared security, but also network consensus. So because of their unique structure, all of these parachains are also interoperable with each other.
Since Moonbeam is a parachain on Polkadot, the use of smart contracts is not only more secure than on other sidechains, but also more efficient. It offers high speed and low transaction costs, without losing any security.
is a sister network of Moonbeam, not in Polkadot's network, but on Kusama
, which is a test environment for Polkadot. Developers can experiment with dApps or new blockchains before they are officially launched. Because of this, Moonriver works like a "Canary Network. All dApps are tested and approved under real economic conditions. This is the only way developers know if a dApp works well. Are they approved? Then they are released into Moonbeam's network.
Moonbeam has its own native token, Glimmer (GLMR). Users of the network use it to pay the transaction fees for using and supporting the decentralized applications. Holders of the GLMR token also have governance. Do you disagree with a certain decision? Use your GLMR tokens, speak up and determine the future of Moonbeam.
Moonbeam vs. Moonriver
Polkadot's ecosystem is unique thanks to its use of Kusama, the canary network. It is the same chain as Polkadot, except they are more experimental. Developers can switch faster when necessary. However, Moonriver would score less in terms of security. But which is best for launching your own dApp?
Moonbeam: higher security, more stable network, but longer time to perform upgrades.
Moonriver: lower security, less stable network, faster time to perform upgrades.
Moonriver AND Moonbeam: highest security, but more effort to maintain.
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