Moonriver - an Ethereum compatible smart contract parachain on Kusama. It is intended to be a companion to Moonbeam, where it will provide a constantly boosted network. Firstly, the new code will be sent to Moonriver, where it can be tested and validated under real economic conditions. Once proven, the same code will be submitted to Moonbeam on Polkadot.
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Description of Moonriver
The Moonriver network allows Ethereum-based smart contracts to be ported to the Kusama environment as it enables EVM implementation. These features also allow the creation of network bridges, which can help to provide state visibility, transfer tokens and help to communicate between different chains. The Moonriver platform also provides third-party integration via Web3-compatible API functionality with a number of well-known Ethereum wallets such as Metamask and other popular Ethereum tools that can be used on i.
Ethereum developers can join Polkadot/Kusama by using Beam/River. Code changes are minimal again. For the former, this means access to a wider audience and access to a variety of assets. For the second, access to an efficient and scalable environment.
Project uniqueness
Access to unique features, which for some reason were blocked by the Polka community, could be called an advantage of Kusama and Moonriver. But you should understand that these two projects are test ones.
| An advantage of the first mover | The participants of these two projects get access to the chips first, can study them in depth and be the first to launch an application with competitive functionality. |
| Possibility | For other participants, this is also an opportunity to evaluate upcoming updates and prepare for them. |
| Tools | Ethereum developer tools like Metamask, Remix IDE, web3.js, Ethers.js, Truffle and other toolkits like Polkadot.js apps. |
| Integration | Oracle integration such as Chainlink, Band Protocol, Razor and DIA Protocol. |
| API | API and infrastructure integration: Onfinality, Covalent. |
| Wallets | The following wallets are supported on the platform: Mathwallet, Polkadot.js, Metamask, AirGap. |
River has moved to a fully functional version only recently. The final stage means the ability to freely move funds, deploy smart contracts and participate in staking. Smart contract platforms are not included in the cross-chain network yet, but switching to one of them will allow developers to transfer their work to Moonbeam and expand the scope of their applications to new assets and users in many chains.
Buying and selling a token
Moonbeam’s own token goes under the ticker GLMR, but for Moonriver this is MOVR. In terms of functionality, the two coins are close, the differences are in supplies. The bulk of MOVR tokens were distributed during the crowdloan. This is the name of the delivery method, where a member of the Kusama network blocks a part of his KSM coins in stacks, receiving a reward with other assets in exchange. In this case, the River's currency. In turn, owners of DOT tokens can access KSM. The coin of the Moonriver network is used:
- when paying transaction fees and deploying contracts;
- when staking;
- as a control token.
After the launch of the Moonriver Network with an annual inflation rate of 10 million MOVR tokens. The leading cryptocurrency exchanges for trading Moonriver shares are currently Binance, OKX, DigiFinex, Mandala Exchange and Bitget.