Hey there, I’m Akanimo and I have revelations for you.Interested? read more and find out…
Okay so moonbeam has been making waves and moving forward exponentially, but some people are still in the dark about this amazing new platform.My work here is to shed more light on this and break it down as much as i can so it can be understood.
First,the big question, what is moonbeam?
Moonbeam is a developer-oriented blockchain which provides an Ethereum-compatible smart contract platform that makes it easy to build natively interoperable applications.It is Powered by the Polkadot network, which is a trusted and widely used network.
How does it work?
It provides a full EVM implementation, which is a Web3-compatible API and it bridges those that connect Moonbeam to existing Ethereum networks. This means users can integrate with your favorite blockchains, including Bitcoin and Ethereum.
What makes it so different?
- For developers, they can quickly build applications that work with other users and assets on remote chains, either through native Polkadot compatibility or interoperability-based integrations.
2. users of the platform can move cryptocurrencies and other tokens natively across Polkadot parachains and parathreads.
Moonbeam longer term vision
- If applications built on Moonbeam need more direct control over their resources and economy over time, they can always upgrade to a full parachain or parathread. This migration, if necessary, can be done using a gradual and co-existent approach, minimizing risk and providing project developers with multiple roadmap options.
- The company envision that Moonbeam can serve as a simple and accessible place for these different parachain functionalities to be composed and combined into novel forms.
Naturally, this will position Moonbeam as an experimentation ground for building new applications that leverage Polkadot’s interoperability and shared security.
Okay, that’s it. I hope this breaks down Moonbeam’s project into a simpler term and you know things about it that did not seem clear before.
See you next time.
For more info: https://moonbeam.network/