One article to understand the advantages of moonbeam technology and ecological layout

Intuitively, existing ethereum DApps can be deployed directly to Moonbeam without any changes.

One article to understand the advantages of moonbeam technology and ecological layout

Recently, there are many exciting news from Polkadot ecosystem, especially the news about the opening of Kusama test network parallel chain slot auction has attracted the attention of many people in the industry, and many projects are fist pumping for this auction to get ready for the future access to parallel chain.

Moonbeam held a community AMA at Telegraph Group on June 7, 2021, and invited Derek Yoo, CEO of PureStake, Yuki, China Marketing Manager, and Mr. Block, Moonbeam Ambassador, to give an in-depth analysis of the Moonbeam project and answer the community’s questions about the project. questions.

Here is the recap of the AMA.

Mr. Block (Moderator): Recently, Polka Eco has been frequently announcing exciting technical advances, none of which we are more excited about than the parallel chain slot auction. According to the plan of Parity, the technology development team of Polka, we will first launch the Kusama network, which is also known as the pilot network, and hold the parallel chain slot auction in the network. Projects that successfully bid for slots will be able to become Kusama’s parallel chain and gain the advantages of its relay chain such as shared security, cross-chain interoperability and on-chain governance. Today we have Derek, the founder and CEO of Moonbeam, here to further introduce Moonbeam.

Derek Yoo: Hello host, hello everyone, thanks so much for being here to share my thoughts with you.

Mr. Block (Moderator): Can you please start with a short introduction?

Derek: Sure! I had founded a software company and ran it smoothly for about 25 years. Since 2019, I have started a blockchain venture and have delved into the polka ecology. I am currently the CEO of PureStake, the operating company behind Moonbeam. We’re also running Moonriver, which is Moonbeam’s deployment on the Kusama network, and I believe we’ll be talking about that in today’s conversation as well.

Mr. Block (Moderator): Can you give us a brief overview of the Moonbeam network and what problems Moonbeam is working to solve?

Derek Yoo: Moonbeam is a Polkadot-based smart contract blockchain dedicated to providing development tools and networks familiar to Ethernet developers for compatible functionality. Moonbeam is a bridge to the existing Ethernet network. Developers can easily deploy existing Solidity smart contracts and DApp front-ends to Moonbeam with only minor modifications based on their own developments.

At the same time, we see ourselves as a high-level development platform that offers powerful features compared to Substrate in the Polkadot ecosystem. As well as providing a preferred portal for developers to easily deploy and develop projects to Polkadot.

Mr. Block (Moderator): It seems that many developers can consider Moonbeam as a “second home” for EVM compatibility.

Derek Yoo: Yes, our primary goal is to provide maximum Ether compatibility, so developers can use the tools they are familiar with to develop on Moonbeam and easily migrate their existing code to our ecosystem without any changes. We think compatibility is very important because it saves a lot of money and reduces uncertainty, and improves adaptability.

Mr. Block: Next, we would like to know what blockchain technologies you are using in the Moonbeam project? Why did you choose these technologies and frameworks? And what are the advantages of Substrate?

Derek Yoo: We chose Substrate because it offers the most flexibility and customizability for building your own blockchain. The vision for our project required our own blockchain, and Substrate is the best framework available for building a professional blockchain. And we chose Polkadot because of its developer ecosystem and because of its built-in cross-chain integration capabilities. We believe this native cross-chain functionality is a key and unique feature and will drive new multi-chain applications to become parallel chains when Polkadot is released.

Mr. Block: On the Moonbeam website, there is a button “Connect to Metamask”, does this mean we are now able to transfer Tokens to Moonbeam?

Derek Yoo: Moonbeam is fully compatible with Ether, including the underlying accounts and keys used. Intuitively, existing Ether DApps can be deployed directly to Moonbeam without any changes.

Users of these DApps will be able to use Metamask just like they do on Ether. you can now use Metamask on our Moonbase Alpha test network, but our Moonriver network on Kusama will be launched soon, after which you will be able to use Metamask.

Full support for Metamask is critical to us because it is the most widely installed wallet and is the preferred choice of all our DeFi partners.

Mr. Block (Moderator): What is the difference between Moonbeam and Moonriver?

Derek Yoo: Moonriver is a parallel chain deployed on Kusama, while Moonbeam is a parallel chain deployed on Polkadot. We follow Parity’s lead by sending code and updates on Kusama first, and then sending them to Polkadot.

Having real economic conditions is key, and we want to have a better and more secure platform by having both Moonriver and Moonbeam environments. But we also plan to take different directions for the two networks. moonriver’s Token allocation differs from Moonbeam in that Moonriver has no venture capital or founding team involvement. We see Moonriver as a great way to increase community interaction and help the network grow to be community-driven. We hope to have more pilot use cases deployed to Moonriver before deploying to Moonbeam and see what happens.

Mr. Block (Moderator): Moonriver is like a “fair start”, how does the community participate? Is the crowd lending open to everyone?

Derek Yoo: Yes, the Moonbeam Foundation is running crowdlending as a way for users and our community to participate in Moonriver. Moonriver crowdlending will be open soon and there are two ways to participate, through the Foundation crowdlending DApp or through an exchange that supports crowdlending.

Mr. Block (Moderator): How do I set up a node on Moonbase Alpha? Is there a tutorial available for this? What are the functions of the node?

Derek Yoo: You can run full nodes, but there are also key nodes called Collators, which are dedicated to block production. Collectors (Collators) are rewarded at the protocol level for producing blocks.

Mr. Block (Moderator): Can you tell us a little bit about the Moonbeam ecosystem? What are some of the Tier 1 projects that have been confirmed to be built on Moonbeam?

Derek Yoo: Currently, we already have many eco-partners, especially in the DeFi space. Major partners include SushiSwap, CREAM, Linear, Convergence, Frax, etc.

What really excites me is the entire DeFi ecosystem that has formed on Moonbeam, where our partnerships fill in all the key DeFi functions such as centralized exchange (DEX), lending, stable coins, synthesis, etc. In the near future, there will be a full DeFi ecosystem on Moonbeam, similar to the Coin Smart Ecosystem Chain (BSC).

Mr. Block (Moderator): It’s a pretty big ecological landscape and it’s great to see these projects joining Moonbeam.

Mr. Block (Moderator): How can project owners and DApp creators apply to join Moonbeam?

Derek Yoo: We always look forward to communicating with DApp creators and project side founders. Please feel free to contact Yuki, our China Marketing Manager, or contact us through our official website. We are more than happy to talk to people and find the right collaboration to support their DApp/project development. We have a team of trustworthy development engineers to provide strong support for Moonbeam development and deployment.

Mr. Block (Moderator): As a community developer, I have seen many good projects led by community members. The next question I would like to ask is, what is a parallel chain? Do Moonbeam and Moonriver have any plans for when the parallel chain auction approaches? What is the current estimated release date for Moonbeam’s mainnet?

Derek Yoo: The parallel chain is a member blockchain of the Polkadot and Kusama networks. As a parallel chain, it will be able to share the security of the main relay chain and will be able to use Polkadot’s native cross-chain integration features. The entire team is now focused on Moonriver due to the upcoming launch of Moonriver in the near future. This is because it means a lot to us as it is our first network to go live and carry value. We expect that Kusama parallel chain will start soon, while Moonbeam Foundation will open up crowd lending to enable users to support Moonriver to win one of the slots to become a parallel chain.

Mr. Block (Moderator): Last question, how do we participate in Moonriver crowd lending? Where is the detailed information?

Derek Yoo: For Moonriver crowd lending, you can participate by visiting the following Moonbeam Foundation website.

Also, you can participate by supporting the Moonrvier crowdlending exchange, details of which will be announced soon.

Mr. Block (Moderator): Today’s AMA event will come to an end here, thank you very much to Derek Yoo for participating. In the future, we will hold more AMAs to keep in close communication with the community! Next is our community question session, and those who ask questions will have a chance to win prizes sponsored by Moonbeam and Mr. Block!

Community Question 1: Have Moonbeam’s official partners also expressed interest in deploying to Moonriver?

Derek Yoo: Most of the partners listed on the website do plan to deploy to both Moonbeam and Moonriver, with the exception of a few projects that only plan to deploy to Moonbeam. In addition, I know of at least one partner that plans to deploy only to Moonriver because it is based on Kusama’s strategy. In fact, deployment to Moonbeam or Moonriver is basically the same, with a few exceptions that will only occur on one or the other.

Community Question 2: Given that there are so many sidechain and Layer 2 deployment options for Ethernet, why did the protocol choose Moonbeam for deployment?

Derek Yoo: I agree that there are many projects on the market today that are focused on EVM-compatible features, and Moonbeam’s advantage comes from being part of the Polkadot network. This means that we can access Polkadot-based users and also Polkadot-based assets such as DOT, and deploy these advantages to our partners so that they can access these users and assets.

But in the long run, the native cross-chain interoperability enabled by Polkadot will be the strongest technology differentiator. First, we will do asset integration, but we will keep adding cross-chain integration with other ecosystems, such as adding pre-compilation on Moonbeam to allow developers to access other dedicated parallel chain features on Polkadot. This is unique and we believe will enable many more new cross-chain applications.

Community Question 3: Moonbeam and Clover have similarities, so what are the advantages of Moonbeam?

Derek Yoo: One advantage I would like to highlight is that we worked closely with Parity to create EVM compatibility features in Substrate (the front end, so to speak, with them.) Other projects like Clover have merged these results into their chains.

We all know that given that the code is open source, anyone can use the ready-to-go results. However, we feel that we have a unique advantage because we are its developers (first creators) and the ones who are driving the EVM compatibility feature forward.

In addition, I would like to emphasize that we are using a full Ether compatibility approach, which includes changing the underlying accounts and keys on the parallel chain to resemble Ether.

As far as I know, no other polkadot parallel chain team is doing the same thing as we are. This means that we can provide better compatibility than other parallel chains.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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