Moonbeam

Moonbeam is a smart contract parachain compatible with Ethereum, operating on the Polkadot network. It streamlines the process of using popular Ethereum developer tools to create or redeploy Solidity projects within a Substrate environment.

Moonbeam offers much more than just a basic Ethereum Virtual Machine (EVM) compatibility; it is a specialized parachain that replicates Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The platform not only supports Ethereum's core features but also includes enhancements such as on-chain governance, staking, and cross-chain functionalities.

Moonbeam achieves unmatched Ethereum compatibility by:

* Minimally Altering Code: Developers can directly use existing Solidity smart contracts without the need for rewriting or major adjustments.

* Leveraging Familiar Developer Tools: Seamlessly connect with popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle through a comprehensive set of Web3 RPC endpoints. Utilize well-known JavaScript libraries like Web3.Js or Ethers.Js.

* Unified Accounts, Addresses, and Signatures: Interact with Moonbeam using your existing Ethereum H160 accounts and ECDSA signatures.

* Accessing Extensive Integrations on Polkadot: Utilize established oracles, bridges, wallets, and other tools already integrating with Moonbeam.

Moonbeam facilitates integration and connectivity not only among Polkadot Parachains but also with other blockchains, including Ethereum and Bitcoin, through bridges. The project was initiated in 2019 by Derek Yoo from Pure Stake.

Derek Yoo founded the Moonbeam Network and serves as the CEO of PureStake, a platform offering secure and reliable public blockchain infrastructure to app developers, projects, and enterprises.

Stefan Mehlhorn, an expert in managing early-stage companies, acts as the chief operations officer for both Moonbeam and PureStake. His previous experience includes roles at Samsung Pay, Candibell Inc., LoopPay, Permessa, and Thinking Phone Network.

Katie Butler and Nate Hamilton from PureStake lead the marketing and business development teams for the Moonbeam Network.

Additional information about the team is available here: https://www.purestake.com/about/

Moonbeam presents an Ethereum-like environment built on Substrate instead of a Geth-based framework. This setup allows developers to redeploy their smart contracts using familiar tools and integrations, while also taking advantage of the modern Substrate architecture that's standard across Polkadot parachains.

With Moonbeam, developers working with Solidity or Vyper-based smart contracts can expand into the Polkadot ecosystem, allowing their projects to operate across multiple chains. Polkadot's blockchain provides seamless workload distribution over a new layer.

Through Moonbeam, developers can either migrate their existing Ethereum DApps to the Polkadot network or effortlessly develop new permissionless decentralized applications (dApps) using tools they are already accustomed to. The transition of front-end dApps between chains is made with minimal disruption.

Moonbeam offers Ethereum developers a way to overcome the scalability issues associated with Ethereum’s network, allowing them to sidestep the high costs and limitations.

Moonbeam’s native token, Glimmer (GLMR), was introduced through a community event called Take Flight. During this event, 100 million GLMR tokens, representing 10% of the total supply, were distributed.

The overall supply of GLMR tokens will reach 1 billion, with a 5% annual inflation rate, resulting in an unlimited token supply. The token distribution is structured as follows.

Moonbeam is adopting decentralized governance. The Glimmer (GLMR) token acts as an entry point for network members to access the network's essential features.

GLMR holders can propose referenda, vote, and elect council members, mirroring Polkadot’s nominated proof-of-stake consensus system. Moonbeam gains additional scalability and security benefits from the Polkadot sharded design and shared security framework.