What is Moonbeam and what does it do?
Moonbeam is a blockchain platform that aims to be Ethereum-compatible and enables developers to build decentralized applications (dApps) on it using the same tools and languages as they would for Ethereum. However, Moonbeam runs on the Polkadot network, which provides scalability and interoperability features that Ethereum does not have. This means that developers can create dApps that are more efficient, faster, and can communicate with other blockchains.
What is the Moonbeam network token (GLMR) used for?
The Moonbeam network token, GLMR, is used for governance and as a payment mechanism for transaction fees and other network services. Holders of GLMR can participate in the governance of the Moonbeam network by voting on proposals that affect the network's direction and development. Additionally, GLMR can be staked to earn rewards and to secure the network.
Who is behind Moonbeam?
Moonbeam is developed by PureStake, a company that specializes in developing infrastructure for blockchain networks. The team behind PureStake has extensive experience in developing software for decentralized networks and has worked on various projects, including the Polkadot ecosystem. PureStake is also backed by notable investors such as Arrington XRP Capital, CMS Holdings, and CoinFund.