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The Moonbeam network — Polkadot’s first fully functioning parachain — offers the perfect blend of Ethereum and Polkadot features. You can use it to develop DApps with Ethereum’s tools, and then deploy them on Moonbeam to scale them on multiple blockchains.
Since Moonbeam is Polkadot’s first fully functioning parachain, it’s caught many crypto enthusiasts’ interest. If it’s caught your attention, too, then keep reading as we explore this unique platform’s features, and discuss whether it’s a good investment for the long term.
Moonbeam is a smart contract parachain on the Polkadot network that works on the delegated proof of stake (DPoS) consensus mechanism and has an Ethereum-compatible environment. Being a parachain means that Moonbeam is a Layer 1 chain linked to the Layer 0 Relay Chain of Polkadot.
Having an Ethereum-compatible environment means that Moonbeam crypto projects can work with Ethereum’s web3 API and Ethereum virtual machine (EVM). So if you want to move some of the workloads from Ethereum to Moonbeam, then you can do so with minimal changes.