Welcome to Moonbeam

Hello everyone

In this article, I will tell you about the Moonbeam project.

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What is Moonbeam?

Moonbeam is a developer-oriented blockchain that strives to provide compatibility with the existing Ethereum developer toolchain and network. It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonbeam to existing Ethereum networks. This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes.

The moonbeam will become a conductor in the Polkadot network. That means it will get shared security from the Polkadot relay chain and will be able to integrate with other chains that are connected to Polkadot.

Parachains in Polkadot

A blockchain which has a slot and is connected to Polkadot. Parachains receive shared security from Polkadot and the ability to interact with other parachains on the Polkadot network. They must lock DOT, the native relay chain token, to secure a slot for a specific period (up two years).

Who Benefits From Moonbeam?

There are three main groups of users who will benefit from Moonbeam:

1. Projects that are struggling with cost and scalability challenges on Ethereum can use Moonbeam.

2. Ecosystem projects that need smart contract functionality can use Moonbeam.

3. Individuals and teams can use Moonbeam to develop new applications.

Key Features and Functionality

On-Chain Governance to allow stakeholders to quickly and forklessly evolve the base protocol according to developer and community needs.

Decentralized and Permissionless , providing a base requirement for censorship resistance and support for many existing and future DApp use cases.

Contains a Full EVM Implementation , enabling Solidity-based smart contracts to be migrated with minimal change and with expected execution results.

Compatible with the Substrate Ecosystem Toolset , including block explorers, front-end development libraries, and wallets, allowing developers and users to use the right tool for what they are trying to accomplish.

Native Cross-Chain Integration via the Polkadot network and via token bridges, which allows for token movement, state visibility, and message passing with Ethereum and other chains.

Implements the Web3 RPC API so that existing DApp front-ends can be migrated with minimal change required, and so existing Ethereum-based tools, such as Truffle, Remix, and MetaMask, can be used without modification against Moonbeam.