What is Moonbeam Network? All you need to know GLMR token

Moonbeam is an innovative blockchain project designed to support decentralized applications (dApps) on the Polkadot network. But is Moonbeam worth investing in?

This article from AZCoin will give you an overview of Moonbeam Network, GLMR token and what you need to know before making an investment decision.

What is Moonbeam Network?

Moonbeam Network is a smart contract platform built on the Polkadot network, with the goal of supporting developers to build DApps and DeFi projects. Moonbeam stands out for its high compatibility with Ethereum, allowing developers to easily redeploy smart contracts and DApps from Ethereum without changing the source code.

How does Moonbeam work

Moonbeam operates on Polkadot parachain architecture, allowing it to connect and communicate with other chains in the network. By using the cross-consensus messaging (XCM) mechanism, Moonbeam allows parachains in the Polkadot ecosystem to interact easily, facilitating the sharing of data and assets. This not only brings flexibility to developers but also helps users experience richer services from different platforms.

In addition, Moonbeam supports EVM smart contracts, allowing Ethereum developers to easily migrate and deploy their applications on Moonbeam without facing technical barriers.

Project team, investors, partners

Team

Moonbeam is developed by a team of experienced blockchain industry experts. Among them, Derek Yoo is the CEO, with many years of experience in software development and blockchain. Katie Lyon Butler is the marketing director, responsible for branding and marketing strategy for Moonbeam.

Investors

The project has attracted the attention of many large investors, including Binance Labs, with an investment of up to $ 6 million. This is a positive sign for the development and feasibility of Moonbeam.

Partners

Moonbeam has established many partnerships with major projects and platforms in the industry such as MetaMask, Chainlink, Sushiswap and Band Protocol.

Ecosystem of Moonbeam

Moonbeam Network’s ecosystem is diverse and rich, including many different projects and protocols, such as:

• Wallet: Moonbeam is testing with popular wallets like MetaMask and MathWallet. These wallets not only support GLMR token storage but also allow users to manage their assets easily. Any wallet that works with the Ethereum network will also work on Moonbeam, saving users the worry of changing wallets when switching to a new platform.
• Network: Moonbeam offers two ways to start building on the new platform: create your own Moonbeam instance or connect to the Moonbase Alpha TestNet. This allows developers to experiment and deploy new features without difficulty, while also providing a safe environment for developing dApps.
• Tools: Moonbeam supports many of the development tools that developers are already familiar with, including Remix, Truffle, HardHat and The Graph. These tools simplify the process of developing and deploying dApps, allowing developers to focus on building products rather than worrying about technical issues.
• Oracles: Moonbeam also integrates multiple oracles such as Chainlink and Band Protocol, providing the necessary data for smart contracts. This integration ensures that dApps can access accurate and timely data, thereby improving the performance and feasibility of applications.
• Bridges: Moonbeam currently has a working bridge connecting to Ethereum testnets. This allows for smoother asset transfers between networks, giving users the opportunity to make the most of their assets across multiple platforms.

Outstanding features of Moonbeam Network

Moonbeam Network is a smart contract platform built on Polkadot, with many outstanding features:

• Ethereum Compatibility: Moonbeam provides an Ethereum-compatible environment through EVM (Ethereum Virtual Machine) and Web3 API, making it easy for developers to redeploy smart contracts and DApps from Ethereum.
• Cross-Chain Integration: Moonbeam supports multi-chain integration, allowing protocols on Moonbeam to migrate content to other chains through bridges such as cBridge and ChainBridge.
• A large ecosystem: Moonbeam has attracted more than 80 different protocols, all of which can communicate with protocols on Polkadot and Ethereum.
• Scalability and low cost: Moonbeam solves the problems of high gas fees and slow transaction processing speed of Ethereum, with the ability to process up to 1000 transactions/second.
• Support for multiple smart contract languages: In addition to Solidity, Moonbeam also supports other languages ​​that compile down to EVM bytecode such as Vyper.

Detailed information about GLMR token

What is GLMR token?

GLMR tokens are designed to serve as a utility asset within Moonbeam, allowing users to pay transaction fees, participate in governance activities and support project development.

Key metrics GLMR token

• Token name: Moonbeam
• Coin code on the exchange: GLMR token
• Blockchain: Polkadot
• Token type: Utility & Governance
• Token Standard: ERC-20
• Contract: Updating…
• Market cap: $160,221,846
• Circulating supply: 902,728,757 GLMR
• Total supply: 1,137,694,524 GLMR
• Total Value Locked (TVL): $478,397,464
•  24 Hour Trading Vol (21/09/2024): $4,817,507

GLMR token allocation 

With the total supply as stated, the GLMR token allocation is divided as follows:

• Token Sale: 40%
• Long-term development: 19%
• Parachain funding: 15%
• Founders and employees: 14.6%
• Strategic partners: 5.9%
• Developer support program: 4.5%
• Reserves and budget: 1%

Where to buy GLMR token, which exchange?

You can buy GLMR tokens on many of the best cryptocurrency exchanges today, including Gate.io, where the GLMR/USDT trading pair has high trading volume. You can also buy GLMR on Binance and WhiteBIT. These exchanges all support GLMR trading with good liquidity and reasonable trading fees.

GLMR token storage wallet

For storing GLMR tokens, you can use a hardware wallet like Ledger or Trezor to protect your assets. Alternatively, MetaMask wallet is also a good choice, as long as you ensure the security of your account.

Conclusion

Above is all the detailed information about Moonbeam Network and GLMR token. Hopefully, the article has provided you with a general and useful overview of this project, helping you make smart investment decisions. Moonbeam not only brings development potential but also an opportunity for those who want to participate in the blockchain ecosystem that is growing strongly.