Moonbeam: everyting you need to know about GLMR

What is Moonbeam?

Moonbeam is a unique blockchain platform that focuses on solving the problem of interoperability between different blockchains. It was launched in 2020 and officially went live on the Polkadot network on January 11, 2022. Moonbeam is the first fully functional parachain on Polkadot and aims to facilitate communication and exchange of information between major blockchain networks.

How does Moonbeam work?

As a parachain on Polkadot, Moonbeam maintains its own network while benefiting from the shared security and cross-chain interoperability of Polkadot. It utilizes Cross-Consensus Messaging (XCM) for efficient communication with the Polkadot Relay Chain and other connected blockchains.

The Moonbeam token.

The native token of Moonbeam is Glimmer (GLMR), which performs various important functions such as paying for transaction and smart contract execution costs, network security, and on-chain governance.

The technology behind GLMR

Moonbeam is built with the Substrate framework, providing an Ethereum-compatible environment for developers and users, and supporting various programming languages. The network integrates various bridges, such as cBridge and Multichain Swap Protocol, to increase interoperability

The Moonbeam ecosystem

Moonbeam hosts various decentralized projects ranging from DeFi and NFTs to utility platforms. Examples include decentralized exchanges such as Curve Finance and Moonwell Artemis, and NFT marketplaces such as Treasureland and NFTrade.

Benefits of Moonbeam

• Interoperability and Cross-Chain Applications: Moonbeam supports efficient communication with the Polkadot Relay Chain and other blockchains, which is essential for the future development of the blockchain ecosystem
• EVM-Compatible Environment for Developers and Users: Developers can easily move existing Ethereum applications to Moonbeam without significant changes to the code
• Decentralization, Security, and Scalability: Moonbeam offers a solution to the limitations of solo chains by creating cross-chain applications that provide access to users, assets, and services across existing blockchains.
• Substrate Framework: Moonbeam is built with the Substrate framework, making it easier for developers to build on the network and take advantage of interoperability.

Disadvantages of Moonbeam.

What are some disadvantages of Moonbeam?

• Price volatility: Like with many cryptocurrencies, there is a degree of price volatility, which poses a risk for investors.
• Future Value Development Uncertain: There is uncertainty about the future value of GLMR, which entails investment risks.
• Technical Complexity: The technology behind Moonbeam is complex, and continuous development is required to improve interoperability, which can pose challenges.

Who is the founder of Moonbeam?

The founder of Moonbeam, Derek Yoo, is a key figure in the development and launch of the platform. Before founding Moonbeam, Yoo had significant experience in the technology sector. As CEO of PureStake, a company focusing on blockchain infrastructure and services, he brought his expertise in software and network technology to the world of blockchain. His vision for Moonbeam was to create a platform that would address the interoperability challenges within the blockchain ecosystem, allowing different blockchain networks to effectively communicate and collaborate with each other.

Expectations for the upcoming period.

Experts expect a minimum price of €0.7600 in 2026 and a minimum price of €2.52 in 2031.