Moonbeam Network Completes Launch Process And is Now Live on Polkadot

Moonbeam, the fully Ethereum-compatible smart contract platform on Polkadot, has completed its launch process to Polkadot. Upon this launch, Moonbeam became the first fully operational parachain on Polkadot, opening the door for the 80+ projects in the Moonbeam ecosystem to deploy. Moonbeam is expected to bring significant activity to Polkadot in the same way that its sister parachain, Moonriver, brought DApp deployments and usage to the Kusama network.

The Moonbeam launch process gradually introduced new functionality over three weeks, beginning on December 17. Once the block production and decentralization was implemented and verified to be running smoothly, the team proceeded to the final phase of launch, during which the super user key (Sudo) was removed, the EVM and balance transfers were enabled, and the active set of collators was increased to 48. Balance transfers allow users to start staking with collators, claim crowdloan rewards, and serve as active network members by participating in the onchain governance system.

The launch follows a broadly supported crowdloan campaign hosted by the Moonbeam Foundation, which received over 35M DOT (~$944M USD at the time the crowdloan ended) contributed by over 200,000 supporters around the world. Moonbeam’s crowdloan had both the largest number of contributors and the highest amount of DOT received by any parachain.

About the 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.

About Polkadot

Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains. This means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible.

➡️Source:
https://moonbeam.network/announcements/moonbeam-live-on-polkadot/

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