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Vladislav Sopov

Meet Moonbeam Network, an EVM-compatible smart contracts platform on Polkadot


Moonbeam Network, the first-ever smart contracts platform for dApps on Polkadot’s (DOT) cross-network ecosystem, is now two months old. Its engineers have shared a recap of the first milestones accomplished.

200K wallets, 3 million transactions, $225 million in GLMR staked: First 60 days of Moonbeam

Since its launch that made headlines on Jan. 11, 2022, Moonbeam Network smashed through a number of important milestones in terms of technical development and adoption of its solutions.

Moonbeam’s team estimates that its instruments have processed over three million transactions authorized by 200,000 active accounts so far.

Moonbeam’s enthusiasts locked 92 million GLMR tokens into its staking module. At current prices, this sum is equal to $225.4 million.

More than 30 projects have already been integrated with Moonbeam. New teams deploy their applications to Moonbeam continuously.

As covered by U.Today previously, Moonbeam Network is designed to make Polkadot’s parachain ecosystem suitable for dApps onboarding.

EIP-1559 is live on Moonbeam and Moonriver

It was launched in mainnet in early January 2022: its token, GLMR, immediately rocketed on exchanges to an ATH over $437 for one token.

The protocol secured seed funding from the VC arms of Binance and Coinbase heavyweight CEXes.

A killing feature of Moonbeam is its 360° compatibility with the largest smart contracts platform, Ethereum (ETH). To ensure seamless compatibility with Ethereum, Moonbeam engineers added support of the EIP-1559 mechanism and Scaffold-ETH toolkit for Solidity developers.

Moonbeam’s progress turns Polkadot into a one-stop platform for dApps: for instance, it fuels BeamSwap, a pioneering DeFi hub on Substrate.

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