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Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot that adds to the base Ethereum feature set with additional features including staking, cross-chain integrations and on-chain governance. The project aims to facilitate the usage of popular Ethereum developer tools and to overcome the scalability challenges caused by the constraints and costs of using the Ethereum network. Project connectivity and integration between Polkadot parachains and other chains such as Bitcoin and Ethereum are provided by Moonbeam using bridges. The project’s native token GLMR, Glimmer, is used for paying transaction fees for accessing and supporting network operations, incentivising full nodes to maintain parachains, on-chain governance processes and more.
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