Why Ethereum is the correct platform for Moonbeam

Ethereum platform’s value

First of all, let’s try to understand Ethereum’s place in this equation. For most, the name is associated with a popular cryptocurrency. That already means a lot to the crypto world, but there is another equally important thing. Ethereum is conceived as a platform for implementing Dapps based on blockchain technology using smart contracts. This is where a number of online blockchain projects are created, including the most innovative and daring ideas.

Root differences between Moonbeam and Ethereum

Moonbeam’s main goal is to match the Ethereum API. Next, let’s dive into the technical and ideational side to characterize the differences.

  1. Moonbeam’s primary consensus mechanism is Proof of Stake. This is an alternative consensus mechanism to the conventional Proof of Work. Its meaning is to use a “stake” as a defining resource that creates an understanding of which node in the blockchain gets the right to mine the next block. Recall that the idea of Proof of Work in cryptocurrencies begins with their first implementation in Bitcoin.

What makes the union of Ethereum and Moonbeam promising

We’re talking about similarities that make it work in sync. From the perspective of the Dapp developers, we’re talking about minimal changes in applications, smart contracts, and tools. Moonbeam provides solidity-based smart contracts support, ecosystem tools, lots of developer tools and the concept of Ethereum Tokens via Bridges. This is more than enough to implement the idea in an acceptable way. Further actions by the project team are aimed at improving and smoothing out the corners for all categories of users in a planned manner.

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