Moonbeam Allows Developers To Use Their Existing
Ethereum Applications And Smart Contracts On Polkadot
Boston, MA – April 27, 2020 – PureStake, a leader in secure and reliable blockchain infrastructure and tools, today announced plans for the Moonbeam smart contract platform. Due later this year, Moonbeam expands the accessibility of smart contract functionality by providing Ethereum compatibility and making it easier for developers to build applications that are natively interoperable with other blockchains and technologies.
Moonbeam will be released as a parachain on the upcoming Polkadot network, which is set to launch later this year. As a parachain — Polkadot’s approach to sharding — Moonbeam will benefit from shared security and composability with the entire Polkadot network while operating and developing independently. This also enables users of the Moonbeam network to move cryptocurrencies and other tokens natively across Polkadot parachains and parathreads, or across other networks via bridges.
“On Moonbeam, developers will be able to build applications that work with users and assets from other chains,” says Derek Yoo, CEO of PureStake. “This is a huge step forward in creating decentralized applications that natively interoperate across chains — opening up new potential markets for DApp developers.”
The Moonbeam network features several differentiators centered on promoting accessibility and interoperability across chains:
- Smart contracts that work natively with other Polkadot chains or connect to external chains, like Ethereum and Bitcoin, via bridges.
- Web3 and EVM support that makes it easy for existing Ethereum DApps and smart contract backends to migrate to Moonbeam and Polkadot.
- Compatibility with familiar Ethereum development tools such as Truffle and MetaMask.
Moonbeam provides an essential service for the Polkadot network, which does not natively include smart contracts. Moonbeam smart contracts make it much easier and cheaper to build decentralized finance applications, which helps developers globally solve real-world finance problems using Web 3.0 technologies.
“Moonbeam’s approach promises to democratize the world of smart contract platforms in a way we haven’t seen before,” said Dieter Fishbein, Head of Ecosystem Development at Web3 Foundation. “Platforms that make it easier for developers to leverage the work they have across networks is core to Polkadot’s future and to the success of decentralized technologies as a whole.”
Visit the Moonbeam website for more information and updates: https://moonbeam.network/
PureStake’s team has extensive experience building technology companies and complex software platforms. Led by Derek Yoo, former Fuze Founder and CTO, PureStake provides infrastructure services and creates developer tools for next-generation blockchain networks.