RELATIONSHIP BETWEEN MOONBEAM AND POLKADOT

Blockchain has been around since the creation of Bitcoin. Even though it is called an innovative technology, there are several drawbacks that need attention. Individual blockchains cannot communicate with each other. The introduction of interoperability between the various chains can lead to data exchange and ultimately to more robust applications and services.

Developers in the past have tried to get around the blockchain, making it possible for a "chain A" to work with "chain B" and vice versa. However, it remains a problem today to connect thousands of blockchains at the same time. One of the new generations of blockchain projects working to solve the problem is Polkadot.

POLKADOT

Polkadot believes to have profunded the solution. Polkadot is described as an open source protocol made for everyone. Polkadot is positioned as a next-generation blockchain protocol which allows several special chains to be linked into one universal network. With a strong focus on building a Web 3.0 infrastructure. Polkadot aims to break internet monopoly and allow individual users. Polkadot fully focused its efforts on security, scalability and innovation and building a needed infrastructure that will ensure proper interoperability.

In Polkadot ecosystem, there are individual (single) blockchain and main chain blockchain respectively. The single blockchain in the Polkadot ecosystem is called a parallel blockchain (parachain), while the main chain is called the Relay chain. Though the system was designed for both the "parachain" and the "relay chain to easily exchange information at any time.

Any developer or individual can spin their custom parallel chain over Substrate (a framework for building cryptocurrencies and decentralized systems). Once the user chain is connected to the Polkadot network it can be operated with all other parachain on the network. Creating cross-chain applications and services should be easier with this design. Though, transferring of data or shared assets has not been possible on a large scale to date.

Now that we know that substrates make it easy for blockchain designers to design and deploy blockchains, how can decentralized application developers start deploying their applications on Polkadot
without building the entire blockchain? This is where Moonbeam comes in and ready to provide the answers.

MOONBEAM: A Potential Market for DApp Developers

Moonbeam (Polkadot's parachain) is a substrate-based smart contract chain designed to provide smart contract developers a familiar experience delivering their applications to the fast-growing Polkadot ecosystem.

Moonbeam makes it easy for developers to use network effects that are rapidly gaining momentum on the Polkadot network. Applications based on Moonbeam benefit from interoperability in the Polkadot ecosystem. Moonbeam allows developers to build applications that work with users and assets from other networks. Moonbeam paved the way for developers to build decentralized applications that generally interact between chains. Moonbeam offers decentralized application developers a new way to get applications that are scalable and manageable. With Moonbeam, developers can easily migrate existing application code for deployment on the lower cost, straightforward manageable Moonbeam platform.

FEATURES OF MOONBEAM

The main functions of the Moonbeam network are focused on promoting accessibility and interoperability in the chain. Some of the features are:

• The Moonbeam's smart contracts work with other Polkadot chains and it also link bridges to external chains such as that of Ethereum and Bitcoin.

• Moonbeam supports Web3 and EVM, this makes it easier for Developers to easily migrate their existing Ethereum DApps and smart contracts to Moonbeam and Polkadot.

• Moonbeam is compatible with popular Ethereum development tools like Truffle and MetaMask.

• Moonbeam provides basic services for Polkadot networks which generally do not include smart contracts.

• Moonbeam smart contracts make it easy to build decentralized financial applications and help developers around the world solve real financial problems using Web 3.0 technology.

CLOSING THOUGHT!

I want developers to shift their focus from dedicating their platforms on a single blockchain and move to a multi-chain ecosystem. All the developers that built their applications on the expensive ethereum foundation should migrate and deploy it into the Moonbeam ecosystem.