What is Moonbeam (GLMR)?
Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations. Moonbeam helps projects expand their reach to new users and markets with a multi-chain approach.
As a decentralized smart contract platform, Moonbeam requires a utility token to function. Glimmer (GLMR), is central to the design of the network and can’t be removed without sacrificing security and essential functionality. GLMR is required to run smart contracts, Nominate collaborators using the Glimmer token and help support the liveness of the network. All transaction fees are paid for with Glimmer.
Who are the founders of Moonbeam?
The Moonbeam Network was founded by Derek Yoo, the CEO of PureStake – a platform that provides secure and reliable public blockchain infrastructure to blockchain app developers, projects and enterprises.
Stefan Mehlhorn, a specialist in early-stage company management and operation, serves as the chief operations officer of both Moonbeam and PureStake. Stefan previously worked with Samsung Pay, Candibell Inc., LoopPay, Permessa, Thinking Phone Network among others.
Katie Butler and Nate Hamilton from PureStake head the marketing and business development teams of the Moonbeam Network respectively.
How does Moonbeam work?
The Moonbeam network makes it possible for developers with Solidity or Vyper-based smart contracts to “go multi-chain” and extend their influence into the Polkadot ecosystem. Polkadot’s blockchain ensures seamless sharing of workloads on a new layer. Through Moonbeam, developers can port their existing Ethereum DApps to Polkadot or easily create new permissionless decentralized applications (dApps) using familiar Ethereum development tools. The tools on Moonbeam ensure that there is minimal change when front-end dApps are moved between chains.
Key Attributes of GLMR
Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigure
Use Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.
Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam
Tap into the Most Integrations on Polkadot: use existing oracles, bridges, wallets, and other tools that are already building on Moonbeam
What sets Moonbeam apart?
Moonbeam is more than an EVM implementation protocol, it’s a highly specialized Layer 1 chain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations which is the need of the hour for many web3.0 platforms.
How to buy Moonbeam (GLMR) in India
Use this three-step process to buy your first GLMR using the CoinDCX bitcoin app in India
Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
Verify the account: You need to complete your KYC, to buy GLMR on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
Buy GLMR: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!
