MoonBeam - what is attractive for users outside the ecosystem?
Abstracts
In this article, we will cover the topics described below👇
All this for a clear understanding of what we are faced with and in general how this information will help us in the future, so we concentrate and read 😉
The article is presented concisely and as clearly as possible!
MoonBeam и EVM
MoonBeam is an EVM blockchain. But the moment is different, what is EVM?!
Yes, there are also a lot of questions - I understand, this is normal, but we will now analyze what it is all about and why we need to know this 👀
EVM - is a bridge between Ethereum and other blockchains.
In our case, MoonBeam is a bridge connecting Ethereum to Polkadot. Also, EVM is a cover / ready-made tool for writing a new blockchain, redesigned to fit your criteria.
Why Ethereum? - this blockchain is expensive and slow, so solutions are made for us:
Anyway, why Ethereum? This blockchain has come a long way since 2017. He is reliable and proven. Therefore, projects, if they make a blockchain, then they try to make the EVM compatible so that it is possible to connect to Ethereum.
MoonBeam allows developers to deploy existing Solidity smart contracts and dApp interfaces to MoonBeam with minimal changes.
Benefits of MoonBeam
In particular, all the advantages of this blockchain lie in technical skills, that is, they serve to simplify the work of techies. But we, in turn, want the information to be clearer and simpler, so listen to why MoonBeam is loved 👇
- Simplified Deployment ✅ - the ability to write a smart contract from existing code, without the need to rewrite or reconfigure.
- Wide Tool Compatibility ✅ - Uses the vast Ethereum ecosystem, including the use of tools such as MetaMask, Waffle, Truffle and more.
- Ready Integrations ✅ - Built-in integrations for assets like DOT and ERC-20 and service infrastructure like Chainlink and TheGraph.
Explaining in simple terms, this is full compatibility with Ethereum and a complete transfer of the ecosystem to the MoonBeam world.
Why is it attractive to use?
Let's start with the fact that two others are collected in one blockchain, that is :
- Ethereum - which is easy to use
- Polkadot - is the strongest blockchain in terms of writing from a technical point of view
For the average user of this infrastructure, the technical benefits are less interesting because people don't absorb themselves into this direction.
Therefore, I describe the benefits not as a sign of depth in the technical process, but as for an ordinary user.
So, the most basic thing that MoonBeam contains is:
- Transaction speed
- It has Ethereum and Polkadot components, which makes it more functional and simpler
- Intuitive ecosystem interface
- Many integrations, which makes it possible to earn money and shows the rapid development
- Reliability and privacy
- Decentralization
All these components are very important for working with any product, especially in the world of cryptocurrency.
All of the above is in full swing, which in turn gives confidence, not only for working with the project, but also for the method of investing in a quality product.
Prospects
It’s simply impossible to calculate the prospect of the project as such, it can be done using its native token, that is, a coin that represents its entire ecosystem and idea - GLMR (Glimmer). As we could see for more than half a year, the coin was on the ICO (public sale among society and the community), also participated as a Polkadot parachain.
It was a preliminary success for MoonBeam, its ICO tokens raised over $2.5 million and the parachain raised about 20+ million DOT in less than a couple of days, which at the time was $40 per DOT. From here we can start from the fact that the project is in very high demand from the very beginning.
Also, in the first weeks of launch, the project integrated with more than 10 projects! Just imagine how much it potentially increases the chances of the growth of the native token 🤯 And this is not a chapel, the project continues to integrate, develop and be a potential gem.
Capabilities
Also some of Glimmer's features for its ecosystem, for a deeper understanding of the process 😉
- Support for smart contract execution gas accounting
- Stimulating collators and strengthening the mechanics of creating a decentralized infrastructure of nodes
- Promoting the governance mechanism of the network, including proposing referendums, electing council members, voting, etc.
- Payment of commissions for transactions on the network
And this is one of the small properties for using a token!
Conclusion
Based on all the information provided about the project and its ecosystem, for the average person who is out of sight of such a product, everything looks much more attractive.
Given that the project is still at an early stage, the native token was released in February 2022, but the product itself has been working and has been developing since the spring of 2021. We can see great potential for development and the desire to be top 1.
Confidence in its further promotion and elimination of competitors, this potential is very high, especially relying on the support of such a strong project, that is, its investors, this gives us even more confidence 🤝
