5 links between Moonbeam and your blockchain project’s success

Blockchain and crypto topics dominate the fintech industry, with a myriad of distributed projects launched every day. All of this workload requires advanced tools and technologies to smoothen the workflow and improve the user experience for both developers and service consumers alike. Moonbeam is one of such solutions, providing unmatched opportunities for blockchain development in 2021.

Why Moonbeam, and what exactly makes the platform stand out among its competitors? This article will try to address these two questions as accurately as possible. But first, let’s get clear with the definitions.

What is Moonbeam?

At the core of it, Moonbeam is an Ethereum-compatible smart contract parachain that facilitates interoperability between different types of distributed networks.

What does the solution help to do?

Moonbeam helps to battle cross-chain compatibility issues by allowing to effortlessly and quickly deploy Ethereum-based smart contracts and dApps on the Polkadot network. This enables connecting public and private chains in a secure, reliable, and efficient way.

Who can benefit from incorporating Moonbeam?

Moonbeam is suitable to fulfill a wide variety of blockchain tasks and activities. Whether you’re already working with Etherium and have a hard time scaling or balancing the budget, run Polkadot projects and lack smart contracts, or just planning to develop dApps on the platform — Moonbeam is the technology backbone needed to succeed.

By the way, for those of you missing some of the blockchain terminology mentioned, here’s a quick reminder of the main terms potentially in question:

Ethereum — the most often-used blockchain network.

Smart contract — a transaction protocol that automates agreement execution between multiple parties.

Daap (decentralized app) — an application developed on a decentralized network, which combines frontend UI and a smart contract.

Polkadot — a multi-chain environment that facilitates connecting custom side-chains to public ones in a trust-free fashion.

Parachain — a private blockchain that operates within Polkadot, sharing the ecosystem’s features like security, scalability, and interoperability.

Now that we’ve clarified the vocab, let’s get to the heart of the issue we explore today.

Why choose Moonbeam?

There are quite a few other Polkadot networks on the market today. So, why would one want to choose Moonbeam over the other ones?

In essence, there are 5 main reasons for it to be the case:

It’s simple

Before anything else, Moonbeam is extremely intuitive and easy to use. Designed with the developers in mind, Moonbeam offers a smooth workflow when assembling Polkadoc projects, which is achieved through supporting the same dev tools one would use on Ethereum and utilizing a very similar programming language.

So, whether you’re coding in Solidity, Vyper, and anything else that compiles to EVM bytecode, or familiar with tools like MetaMask, Remix, Hardhat, or Truffle — getting used to Moonbeam will be like a fish to water.

It’s compatible

Moonbeam provides complete EVM compatibility which allows deploying dApps and smart contracts directly to the network with virtually no to zero code adjustments, effectively resulting in true cross-chain software compatibility.

In addition, Moonbeam supports present Ethereum H160 accounts and addresses, as well as ECDSA signatures, so there is no need in getting new ones when migrating to or developing an entirely new app with Moonbeam.

It’s secure

Operating within the Polkadot environment, Moonbeam shares all of the security benefits provided by its host, which means that any project deployed to the network will be reliably and securely protected from any form of third-party data tampering. Clearly, one point that is hard to overestimate for blockchain activities.

It’s feature-rich

Moonbeam’s feature set is truly impressive, spanning from essential functionalities like Web3 RPC end-points, H160 Accounts & ECDSA Signatures, and publish-subscribe option, to rather pleasant perks like on-chain governance, staking, and cross-chain integrations.

Therefore, whatever the goals and aims of your blockchain project are, Moonbeam will definitely provide all of the technical means required to fulfill those objectives.

It is widely recognized

Last but not least, Moonbeam’s earned recognition among some of the prominent fintech enterprises provides another good reason to include it in your blockchain development game plan.

Launched as recently as January 2020, the platform has already been supported by big crypto players such as API3, Linear Finance, Sushi Swap, Bet Protocol, Injective Protocol, Orion Protocol, and many more, as the choice of platform for their Polkadot endeavors.

Final word

All in all, Moonbeam can fairly be considered a go-to solution for building individual blockchains via the Polkadot network, packing in a ton of functionality for building simple, reliable, and secure individual blockchains.

Whether your goal is to migrate a ready Ethereum-based app or start a brand new blockchain project, it seems to be worthwhile, to say the least, to take a closer look at Moonbeam and the opportunities it provides.