This has been evident in the rate at which projects in the blockchain technology space rise to prominence because of the collaboration.
What is Moonriver?
Moonriver is a community led Parachain on the Kusama network. Moonriver is also a companion network to Moonbeam and provides a permanently incentivized canary network where new code would ship seamlessly to Moonriver first, where it can be tested and verified under real economic conditions.
Subsequently, once it is proven, the same code would eventually ship to Moonbeam on Polkadot for its potential use.
Some benefits of using Moonriver
- Early access for experimentation: The platform creates access and uses the latest builds of Moonbeam in a live, incentivized CanaryNet environment that is connected to the Kusama MainNet. This thereby gives the users the opportunity to simulate the feasibility of the test.
- Community driven platform: The platform is community driven and as such the community members will own a majority of the MOVR tokens on the network, giving them considerable control over the direction of the network.
- Independent Network: It is observed that while Moonbeam code launches to Moonriver first, the network will continue to be live on as a parachain on Kusama, with its own projects and specialized use cases. This tends to give the network some level of independence and enables the users to test the efficacy of the network.
Moonriver is fully compatible with the Ethernet network, and this goes a long way to ensure an easy implementation of the cross-chain branching of the network on other similar protocols.
This is done simply by mirroring Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more.
Moonriver therefore minimizes the changes required to run existing solidity smart contracts on the network. Such that Ethereum projects can replicate their DApp and deploy it to Moonbeam using Hardhat, Truffle, Remix, and other popular deployment tools.
What is MOVR Token?
Just like every project in the blockchain and cryptocurrency space, the utility token of the Moonriver network is called the MOVR token.
Moonriver provides a lot of utility as a decentralized smart contract platform, it therefore requires the MOVR token to execute all its functions and transactions efficiently.
Some of the uses of the MOVR token on Moonriver include but not limited to the following:
- Supporting the gas metering of smart contract execution within the ecosystem
- The token is used to incentivize collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
- It is also used to facilitate the on-chain governance mechanism including proposing referenda, electing council members, voting, etc
- Paying for transaction fees on the network
Klever + Moonriver collaboration
The Klever team ensures that it builds a viable and collaborative community that always has and will remain the fulcrum for the growth of the network and to a larger extent the ecosystem required, to help us deliver the look and feel of our products.
These collaborations serve as the required inputs to help navigate the direction that our developers would take to deliver the desired products. The partnership of Klever and the Moonriver team has indeed grown to a reputable proportion, and we hope to impact the entire blockchain ecosystem soon.
The Moonriver token (MOVR) integrations in the Klever Wallet (K4) makes it easier for users to carry out the following transactions:
- Send: Users can send MOVR tokens from one wallet to another seamlessly from the Klever Wallet.
- Receive: Klever Wallet can be used to receive MOVR tokens from users all over the world thereby making the transaction faster and safer into the custody of the users’ wallet.
- Charge: Users can also utilize the Klever Wallet to charge customers for making payment for items and transactions for small businesses in a swift and secure manner.
All these options make the Klever wallet an outstanding tool for the implementation of quick and reliable transactions which can be done in real time for the growth of the financial sector.