What is Moonbeam Network?

Moonbeam is a network that simplifies the developer experience by combining full Ethereum compatibility with the power of Polkadot, including scalability, cross-chain integrations, and on-chain governance. Furthermore, it gains advantages because it simplifies the developer experience. Thus, it achieves this compatibility using Ethereum’s Virtual Machine (EVM) and the Solidity programming language, allowing developers to create smart contracts and dApps without the need for code reconfiguration or rewriting.

Key Features of Moonbeam Network?

• Provides censorship resistance and support for various current and future DApp use cases. Therefore, it is decentralized and permissionless.
• Includes a full EVM implementation, enabling Solidity-based smart contracts to be ported with minimal changes.
• Compatible with the Substrate Ecosystem Tool Set, allows developers and users to use the right tool for the job they are trying to accomplish, including block explorers, front-end development libraries, and wallets.
• Includes native cross-chain integration through Polkadot network and token bridges. Also, it enables token movement, state visibility, and message transmission with Ethereum and other chains.
• Includes On-Chain Governance to evolve the basic protocol quickly and without forking, according to developer and community needs.

Moonbeam Network Ecosystem

There are many tokens in the Moonbeam Network ecosystem. For instance Dex, stablecoin, and Launchpad tokens.

How Long Has Moonbeam Network Been on the Market?

Work on the Moonbeam network began in early 2020 by the PureStake team. Additionally, the test network was launched in September 2020 and it was launched in January 2022.

What is (GLMR) Moonbeam Token?

GLMR is the native token of the Moonbeam network. At the same time, it is a fundamental component of the Moonbeam ecosystem. Also, it is responsible for maintaining the Moonbeam network, encouraging fair participation, providing decentralized structure, and facilitating smart contract execution through gas measurement.

The token also serves as an exchange unit used to pay gas fees on the network and grants its holders the right to vote in the ecosystem.

Where Is Moonbeam Token Used?

• Support the gas measurement of smart contract execution.
• Moonbeam encourages compilers. Moreover, it provides mechanisms to create a decentralized node infrastructure that the platform can run on.
• Facilitate on-chain governance mechanisms, including proposing referendums, electing council members, and voting, etc.
• Pay network transaction fees.

Moonbeam Tokenomics

• Long-term protocol and ecosystem development (16.7%)
• Reward contributors to the Moonbeam crowdloan (15%)
• Seed funding and sold to users in September 2020 (14%)
• Strategic financing (12%)
• Take Flight community event (9.8%)

Team And Supporters

GLMR has received investment from companies such as Binance Labs, ParaFi, Coinbase Ventures, and HashKey.

GLMR Market Data

Current Market Value: $188,167,154

Current GLMR Token Price: $0.2522

The current circulating supply of GLMR Token, which has a total supply of 1,085,882,183 is 744,752,435. So it means this corresponds to 68% of the total supply.

Where And How To Buy GLMR Token?

GLMR Token is available on many major cryptocurrency exchanges such as Binance, KuCoin, Kraken, and OKX. Besides, the easiest way to buy GLMR tokens is to buy them from Binance.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post What is Moonbeam (GLMR)? Project Review appeared first on Coin Engineer.