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Once Moonbeam is launched on Polkadot, it will add smart contract functionality to all other connected networks and parallel chains, as well as cross-chain bridges to other blockchains like Ethereum or Bitcoin.
As the project supports Web3 and Ethereum Virtual Machine (EVM), along with popular development tools like MetaMask and Truffle, developers can easily deploy existing smart contracts on Moonbeam with minimal configuration changes.
Therefore, Ethereum-based crypto and DeFi projects can expand their reach by creating a cross-chain solution or migrating their existing workloads to Polkadot, effectively avoiding Ethereum's current high gas fees.
Moonbeam has its native utility token called Glimmer (GLMR).
GLMR's main uses include participating in on-chain governance, paying for smart contract executions and transaction fees on Moonbeam, and staking to support network operations. |
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Post time 10-10-2023 08:37:46