Moonbeam GLMR Price

What is Moonbeam (GLMR)?

Moonbeam (GLMR): An Ethereum-Compatible Smart Contract Platform on Polkadot

Moonbeam is a blockchain project that aims to provide an Ethereum-compatible smart contract platform on Polkadot, a network that allows different blockchains to transfer messages and value in a trustless fashion. Launched as a parachain on Polkadot, Moonbeam offers an EVM implementation and Web3-compatible API, allowing developers to deploy existing Solidity smart contracts and DApp frontends with minimal changes. This compatibility also enables easy connectivity with popular Ethereum developer tools.

History and Development of Moonbeam

Moonbeam's integration with Polkadot brings several advantages, including shared security from the Polkadot relay chain and interoperability with other chains connected to Polkadot. The project is developed by PureStake, a company known for its work on Algorand developer tools and Polkadot validators. Moonbeam's history dates back to early 2019, and it has since garnered interest from various projects, including partnerships with Linear Finance, Sushi, Injective Protocol, and Bet Protocol.

Moonbeam's Features and Technology

Moonbeam operates as a parachain connected to Polkadot's relay chain, supporting 64 collators. The platform offers API endpoints for developers and supports projects that wish to operate their own nodes. Moonbeam uses a Delegated Proof-of-Stake consensus mechanism for deterministic finality, unlike Ethereum's Proof-of-Work consensus.

Glimmer (GLMR): The Native Token of Moonbeam

The native token of the Moonbeam platform is Glimmer (GLMR), which serves as the utility token for various functions within the network. GLMR is used for gas metering of smart contract execution, incentivizing collators, participating in on-chain governance, paying for transaction fees, and more.

Moonbeam's Utility and Inflation Model

Moonbeam targets a 5% annual inflation rate, with fees on the network handled in a way that 80% of spent fees are burned, acting as a deflationary force, while 20% go to the on-chain treasury.

Moonbeam's Role in the Blockchain Ecosystem

Overall, Moonbeam aims to provide an environment where Ethereum developers can easily deploy their projects on Polkadot, benefitting from improved scalability and lower gas fees compared to the Ethereum network. Its compatibility with Ethereum's tooling and its focus on interoperability make it an attractive option for developers looking to expand their presence in the blockchain ecosystem.

What is unique about Moonbeam (GLMR)?

Moonbeam stands out for being an Ethereum-compatible smart contract platform on Polkadot, offering seamless deployment of Solidity smart contracts and DApp frontends with minimal changes, along with added features like on-chain governance and cross-chain capabilities.

Who are the founders of Moonbeam (GLMR)?

Moonbeam was founded by Derek Yoo, the CEO of PureStake, a platform providing secure blockchain infrastructure. Stefan Mehlhorn serves as the COO, bringing experience from Samsung Pay and other companies, while Katie Butler and Nate Hamilton lead marketing and business development.

Who are the backers/investors of Moonbeam (GLMR)?

Moonbeam received a grant from the Web3 Foundation in July 2020. Additionally, the project has garnered interest from various projects, including partnerships with Linear Finance, Sushi, Injective Protocol, and Bet Protocol.

Where can I buy Moonbeam (GLMR)?

You can buy Moonbeam (GLMR) on Binance, MEXC, Bitget, BybitGate.io cryptocurrency exchanges.