Moonbeam price

GLMR

#996

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam enables the use of 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 onchain governance, staking, and cross-chain integrations.

Moonbeam’s Ethereum compatibility is unmatched:

• Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigure

• Use Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.

• Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam

• Ecosystem integrations: use existing oracles, bridges, wallets, and other tools that are already building on Moonbeam

Moonbeam provides integration and connectivity between Polkadot Parachains as well as with other chains such as Ethereum and Bitcoin via bridges. Moonbeam was started in 2019 by Derek Yoo of Pure Stake.

Moonbeam was founded by Derek Yoo, who was CEO of PureStake at the time of its creation and is currently CEO of Moonsong Labs. PureStake was an early contributor to the development of Moonbeam and focused on providing infrastructure and engineering support for blockchain networks. The Moonbeam Foundation supports the development, growth, and adoption of the Moonbeam Network and its ecosystem. The Foundation works with developers, partners, and the broader community to fund ecosystem initiatives, support technical development, and promote network usage across different application areas. In addition to ecosystem support, the Foundation helps coordinate resources for builders, including grants, partnerships, and community programs, while contributing to the long-term sustainability of the network. More information about the Foundation can be found at: https://moonbeam.foundation/

Moonbeam offers an Ethereum-like environment on top of Substrate (rather than a Geth-based solution). This lets developers redeploy their existing smart contracts easily, using the same tools and integrations they already use, while also taking advantage of the modern Substrate framework on which all Polkadot parachains are built.

The Moonbeam network makes it possible for developers with Solidity or Vyper-based smart contracts to deploy across multiple chains and extend their influence into the Polkadot ecosystem. Polkadot’s blockchain ensures seamless sharing of workloads on a new layer.

Through Moonbeam, developers can port their existing Ethereum DApps to Polkadot or easily create new permissionless decentralized applications (dApps) using familiar Ethereum development tools. These tools reduce the changes required when migrating applications between chains.

By using Moonbeam, Ethereum developers (which make up the largest market of existing blockchain developers) will be able to bypass the scalability challenges due to the expense and constraints of the Ethereum network.

The native token of Moonbeam known as Glimmer (GLMR) was issued via a private Community Event called Take Flight. During the community event of Moonbeam, 100,000,000 GLMR (10% of the total supply) was issued.

The initial supply was set at 1,000,000,000 GLMR tokens, with an annual inflation rate of 5%; as such, there will be an uncapped token supply. The distribution of the token is as follows.

Moonbeam uses decentralized governance. The utility token, Glimmer (GLMR), will serve as the gateway for network participants to access the vital functions of the network.

Holders of GLMR will have the right to propose referenda, vote, and elect council members. A reflection of Polkadot’s nominated proof-of-stake consensus mechanism. Moonbeam benefits from the extra scalability and security of using a Polkadot sharded design and shared security umbrella.

GLMR is available on centralized exchanges listed on CoinMarketCap.

It's also possible to use certain DeFi protocols that are building on Moonbeam, which users can find either on DappRadar, Moonbeam's site, or DefiLlama. Users should conduct their own research before interacting with DeFi protocols.

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