We can safely say that most of us are already familiar with cryptocurrency. The crypto industry has clearly enjoyed high growth and popularity, and has attracted a large number of potential investors from all over the world. It has become quite popular lately. You can use such a digital currency in some commercial processes, on cryptocurrency exchanges around the world, to purchase goods and buy services over the Internet. Of course everybody has seen that during the first industries steps to the world’s market, there weren’t many currencies to choose from, and people weren’t as interested in investing money. Today the situation has completely changed. It received recognition from many famous and influential people, thus persuading ordinary people to invest in the market. There is incredible progress in cryptocurrencies, and experts are confident that cryptocurrency has completely changed the current payment systems on a global level. You can be sure about the future of online payments, because it is undoubtedly cryptocurrency! Bitcoin, Dogecoin, Baby Doge, Ethereum, as well as Binance Coin and many more are just some of the currencies that are currently available on the market.
Have you already heard that even Mcdonalds at Ell Salvatore recently adopted Bitcoin as their customers’ payment method?! This definitely takes us to a completely different level.
Let’s take a look at the final addition to the lot. We are going to get acquainted with Moonriver. If you want to know more about this, just keep reading.
The most important things about Moonriver
First it should be said that Moonriver was developed by the Moonbeam Foundation as a blockchain environment. As a result it has to be compatible with Ethereum on the Kusama network. Being an intelligent contract parachain that is created on the Kusama(KSM) Network, Moonriver helps to provide compatibility with the already existing Ethereum network and developer toolchain.
According to the developers, this virtual platform will run on KSM as a parallel blockchain, thus Moonriver will be an associative network for Moonbeam, where it will be able to create a canary network that is constantly stimulated. As a result, virtual currency projects will be able to expand their reach to new markets and users using a multi-chain approach. The bottom line is that any new code will first be sent to Moonriver for validation and testing in real economic conditions. If confirmed to work, a code will be sent to Moonbeam on Polkadot. It does this by providing a Web-3 compatible API, EVM implementations, and bridges that connect existing Ethereum networks to Moonriver. Thus, developers will be able, with the lowest market cost, to deploy existing DApp frontheads along with Solidity smart contracts in Moonriver.
While it is a canary network that is responsible for testing new codes before launching them on Moonbeam, Moonriver also copies subscriptions, accounts, Ethereum logs, RPC Web3 and more, making it much easier to run reliable smart contracts on the blockchain. Using ECDSA signatures as well as H160 accounts, you can easily access and communicate with Moonriver. Also a group of embedded platforms including assets such as ERC-20 and DOT. With Moonriver, developers have the ability to declare their Ethereum decentralized apps with minimal friction and in a substrate environment, so Ehereum’s decentralized apps won’t be rewritten or reconfigured for the KSM. Such a structure undoubtedly comes in handy as a support, especially when creating blockchain applications and blockchains, which, in turn, can easily run on Kusama and Polkadot. To get close to these characteristics, Moonriver offers an EVM implementation, a bridge, native integration for ERC-20 and DOT, an EVM implementation, and a Web3 compliant API.
Polkadot is playing an important role being one of the most powerful blockchain networks in the market. Polkadot is known to have several chains instead of having just a single one network, so users can transfer data across with high speed and great productivity. Developers often desire to be a part of such an innovative network. The reason is that getting a project on Polkadot often means operating with an efficiency which other chains fail to provide. Returning to Moonriver, being the latest addition under the Polkadot umbrella it continues to increase its value and investors are wanting to buy it.
Among other things, it is known that Kusama (a subsidiary of Polkadot) works in a similar way to Polkadot. Every player in the market who wants to get to Polkadot first of all finds a place for themselves on Kusam. Kusama has only one hundred parachains, which makes it even more unique. It is important to know that Moonriver started on Kusam only in August and it is already at its peak! The fact is that all Moonriver development is driven by the community of people using MOVR tokens, as a result, this approach gives token holders the opportunity to shape the aspect of Moonbeam’s development in the future. However, Moonriver will still be its own fully independent parachain, only with designs specifically built for the network.
MOVR
Moonriver requires a token to run. Moonriver’s own token is MOVR and, accordingly, it plays a key role in its operation and cannot be deleted without abandoning the main functions. The use of MORV in the market includes mechanics, providing gas metering for the execution of smart contracts, payment of transaction fees on the network and collectors to stimulate growth and improve the infrastructure of decentralized nodes on which the platform can run. In addition to all of the above, it includes support for the governance mechanism in the network, for example, voting, electing council members, proposing referendums, and so on.
It is important to know the general distribution of the token. About 30% of the total supply comes from the crowdloan parachain, 0.5% from the treasury, 40% from the parachain slot reserves and community initiatives, 0.5% from the parachain bond reserves, 4.5% from the developer acceptance program, and finally , 24.5% — long-term network adoption and stewardship.
How to behave with Moonriver?
$ 388.87 is the current Moonriver price with a 24-hour trading volume of around $ 60,477,888. In just the last 24 hours, the price of the token has grown by almost 1.18%, and its market capitalization was $ 583,307,273. The 221st position in the CoinMarketCap rating is a good result. Moonriver currently has 1,500,000 MOVR coins in circulation and a maximum lifespan of 10,000,000 MOVR coins. Just imagine that in just a week, the value of the currency increased by 178.61%. From this data, we understand that Moonriver represents a good long-term investment and offers opportunities for more innovation than ever before, serving as a testing ground for Moonbeam projects. When you consider all of its perks and support, the value of the token, and the place Moonriver has managed to maintain since its launch, it seems like it really is worth investing in.
But it’s fair to stress that, like any other online currency, Moonriver can come with its own risks, and if you decide to invest, you must be willing to take some risks and incur losses if necessary. Do you prefer to make an investment in Moonriver? Here are some popular exchanges for Moonriver trading: Kraken, ZT, KuCoin, BKEX and Gate.io.
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LinkedIn — https://www.linkedin.com/company/moonbeam-network
