Moonbeam (GLMR) is a highly specialized layer 1 chain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. Apart from having base Ethereum features it comes with additional features such as on-chain governance, staking, and cross-chain.
When was Moonbeam founded?
Moonbeam was founded by PureStake in early 2020, a software development company that has also built developer tools for Algorand and runs Polkadot validators. It is a smart contract platform built using the Substrate blockchain framework and it also receives support from the Moonbeam Foundation.
While Moonbeam pegs to be an Ethereum Virtual Machine (EVM) compatible parachain within the Polkadot ecosystem, its sister network, Moonriver (MOVR) is also a parachain built on top of Kusama in June 2021. Both Moonbeam and Moonriver have similar underlying technology and share a testnet called Moonrock.
GLMR is a native token of the Moonbeam network and Polkadot is used as the underlying relay chain, while, MOVR is the utility token of a Moonriver Network.
What makes Moonbeam unique?
Today, there are many protocols and chains built on top of various existing blockchains solving various issues.
Moonbean is one such chain that solves blockchain interoperability downside by offering a framework for the blockchain to seamlessly work together with Ethereum.
Its protocol helps builders create a related ecosystem with many distinctive options. Like offering permissionless DApps, working with EVM, offering cross-chain integration, and on-chain governance.
Moonbeam offers the next stage of decentralized and censorship resistance and helps the current DApp ecosystem. It also permits porting of smart contracts written in Solidity, Vyper, and anything that compiles to EVM bytecode.
With the Polkadot community and the token bridge, Moonbeam allows cross-chain token migration and message sharing with Ethereum and different chains.
It also offers on-chain governance that allows Moonbeam stakeholders to shortly develop the essential protocol in line with the wants of the builders and the neighborhood without a fork.
Moonbeam Overview
| Trading Volume 24h (05-20-22) | $40.90 million |
| Market Cap | $320 million |
| Trading value | $1.18 |
| Circulating Supply | 272 million GLMR |
| Maximum Supply | 1 billion GLMR |
Where to buy it?
To buy Moonbeam, a user needs to log in to the Klever Wallet app.
If a user doesn’t have it, it can be downloaded from Google Play Store and Apple’s iStore for free.
Once you download the app, run it and set up your account by saving 12 SEED words and then putting your six-digit security pin key.
Note: Never share your 12 SEED words and security pin with anyone, if that is compromised, you can lose all your crypto assets.
Store GLMR in Klever Wallet using Klever Swap, USDT to GLMR
If you have more than 35 USDT, you can swap it for GLMR in Klever Wallet. Your USDT will be converted using the Klever Swap engine and it will be delivered momentarily to your GLMR account.
With the work Moonbeam is doing in space, it can enhance capabilities for extending DeFi to blockchains. It can also help many decentralized finance (DeFi) builders who are working on Ethereum and want to work with other blockchains that can use the Moonbeam network.
This activity shows that Moonbeam is here to stay and will have good adoption rates among blockchain developers and will increase the prices of GLMR in the near future.
