What is Moonriver (MOVR)?
is a decentralized Solidity smart contract platform on Kusama's blockchain. The platform makes dApps on Ethereum's network available to Kusama's network. The canary network allows developers to first test, integrate and launch their decentralized applications (dApps). Moonriver is a parachain in Kusama's network. These parachains are custom blockchains connected and secured by the Relay Chain, the heart of Kusama. The Relay Chain is responsible for the security and consensus of the network. Moonriver is Moonbeam's little sister. But how exactly does Moonriver work?
How does Moonriver work?
Moonbeam Foundation created Moonriver as an Ethereum-compatible blockchain in Kusama's network. We know that Moonriver is a parachain of Kusama, but what exactly does this mean, and how does Moonriver work?
Parachains are custom and project-specific blockchains, in this case in the network of Kusama or Polkadot
. They are all connected to and secured by the Relay Chain. It is also responsible for the shared security and consensus of the network. Parachains therefore not only have all the benefits and features of the Relay Chain, but are also multichain interoperable with each other as a result.
Developers face a tough challenge. When they launch dApps, several difficulties may arise. Is there an error in the source code? Then users can lose a lot of money just like that. To prevent this, Moonriver is a canary network for Moonbeam
. New dApps, and thus source codes, are tested and approved under real economic conditions. This is the best way to know if a decentralized application is well-developed.
network is known for its speed and efficiency. An ideal environment to test new codes and new dApps. Are changes needed? Then developers can do this much faster on Kusama's network. No errors found in the source code or use of the decentralized application? Then these dApps are sent and launched on Moonbeam. Moonriver is thus an "incentivized" test network with its own tokens and its own existing economy.
Moonriver has a native token, MOVR, that keeps the network operational. Users pay transaction fees in MOVR tokens, but also support the development and use of smart contracts with it. The token also entitles holders to governance: With their tokens, they can vote on proposals and determine the future of Moonriver.
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