What Is Moonbeam?

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.

Moonbeam is much more than just an EVM implementation: it’s 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.

The Moonbeam GLMR Token is a security that is associated with the Moonbeam network. It has a total supply of one billion. Of those one billion, a certain portion has already been reserved for a parachain slot on the Polkadot network, a community token event, a 2021 crowdloan, and future parachain bond funding. The remaining tokens will vest on a 24-month schedule.

The team behind Moonbeam’s platform is committed to enabling new multi-chain applications. It is built on Rust to ensure performance and security. It also features Web3 RPC API. Developers can easily migrate existing DApps from Ethereum to Moonbeam with minimal effort. The protocol also supports native Cross-Chain Integration, Token Bridges, and On-Chain Governance, which means that protocol evolution can occur faster.

The Moonbeam community governance framework uses a layered structure that ensures that only viable proposals make it to the voting stage. Integration of EVM and Web 3.0 makes the transition to Moonbeam easier. GLMR helps power the Moonbeam network, enabling staking, transaction fees, and collator rewards. And a Polkadot PoS consensus provides high transaction speeds. Ultimately, GLMR is an excellent choice for any cryptocurrency investment.

To begin using Moonbeam, download the full blockchain to your computer and open your wallet. Write down the “seed” (the address that you’ll use to send GLMR tokens).