Moonbeam is Now Producing Blocks On Polkadot

Moonbeam has officially begun its launch process to become a fully operational parachain

The initiation of the launch process follows a successful crowdloan campaign hosted by the Moonbeam Foundation, which received over 35M DOT (~$1.4 billion USD as of the crowdloan completion on November 24) contributed by over 200,000 supporters around the globe. Moonbeam’s crowdloan had both the largest number of contributors and the highest amount of DOT received by any parachain.

Moonbeam’s three-phase launch process is designed to gradually roll out functionality to ensure network stability and safety, and is expected to take 3 to 4 weeks to complete. Collators play a critical role in this process, as well as in the decentralization and performance of the Moonbeam network overall. The initial set of third-party collators have been chosen due to their high performance during a series of performance tests on Moonbase Alpha.

The Moonbeam network is currently in Phase 0, which is centralized. In Phase 1, block production will shift to a decentralized set of collators. In Phase 2 (the final phase), EVM and balance transfers will be enabled, and users will have full functionality of the network. Full details for the Moonbeam launch process are below:

About Moonbeam Network

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Following Moonriver’s tremendous success on Kusama as the most active deployment destination for over 80 DApps, Moonbeam benefits from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot.

➡️Source:
https://moonbeam.network/announcements/moonbeam-now-producing-blocks-polkadot/