Moonbeam Goes Live on Polkadot, Becomes its First Fully Operational Parachain

Moonbeam, the world’s first fully operational on chain scaling solution was released into the wild this week. The Polkadot-powered platform aims to provide scalability and interoperability that will enable developers to build dapps with confidence without having to worry about network congestion or security concerns.

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The “moonbeam token release schedule” is a list of all the dates and times that the moonbeam tokens will be released.

 

Recently, the Ethereum-compatible parachain smart contract platform Moonbeam from Polkadot was able to finish the pre-launch phase and eventually go live inside the Polkadot ecosystem. On Tuesday, December 11, the launch was revealed earlier this week.

Being the first fully functional parachain atop Polkadot’s blockchain, Moonbeam’s debut also marks a significant turning point for Polkadot. The Moonbeam protocol will now make it possible for over 80 distinct projects in its ecosystem to be implemented with the help of its release.

New integrations, users, activities, and more will all be introduced with the introduction of Moonbeam, helping to strengthen the Polkadot ecosystem and expand its network.

Moonbeam also succeeded in winning the second Polkadot Parachain Auction, which was conducted in October 2021. The superuser key, Sudo, was reportedly deleted by Moonbeam during the first stage of the launch, according to the statement. By doing so, it kicked off the procedure that would give its community of token holders power over the network, resulting in complete decentralization.

Information on the Moonbeam launch

In addition to the aforementioned features, it is important to note that Moonbeam’s platform supports balance transfers and EVM (Ethereum Virtual Machine). Investors should pay special attention to the balance transfer since it will enable staking. In other words, users will be able to start receiving passive revenue and benefits from the crowdloan.

With this modification, the governance system will now be under the control of the project’s community of token owners. The fact that the number of active collectors has increased to 48 is another notable modification.

Following the debut, owners of GLMR tokens acquired the opportunity to invest alongside collectors, participate in an on-chain governance structure as active network members, and get incentives for crowdloans. Speaking about crowdloan awards, over 45 million GLMR, or about 30% of them, were given out as soon as the project was announced on Polkadot. The notification said that the distribution was based on the proportion of the donation.

The remaining 70%, or around 105 million GLMR, will become vested in a linear manner throughout the course of the 96-week parachain lease term. We’ve been at this since the middle of December, and three weeks have passed. This indicates that the donors are now eligible to collect their three weeks’ worth of vested incentives.

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Finally, Moonbeam took advantage of the occasion to declare that it would launch a number of new initiatives aimed at expanding infrastructure. These are scheduled to emerge over the next weeks and will contain features like multisig support, Chainlink oracles, bridges, The Graph, and similar things.

Polkadot’s entire system is devoted to launching parachains, not only for increased scalability but also for achieving interoperability with other chains in the industry. With Moonbeam’s parachain launch, this is a big step for Polkadot’s entire network as the project became the first official, fully functional parachain. The project has now taken a significant stride in the direction of this objective, and the development will boost motivation.

Visit our Investing in Polkadot guide to find out more information about this coin.

Polkadot, the blockchain-as-a-service company, has announced that its first fully operational parachain is now live. The platform will be called Moonbeam and it is a decentralized marketplace for digital goods. Reference: polkadot parachain.

Related Tags

  • moonbeam vesting schedule
  • moonbeam crowdloan
  • moonbeam crowdloan rewards
  • polkadot news
  • moonbeam staking

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