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Highlights
- Moonriver is a smart-contract Kusama parachain that provides compatibility with Ethereum decentralised application.
- The Moonriver is gives the authority to the developers to deploy the smart contracts and DApps (decenralised applications) with little modification.
Moonriver is a smart-contract Kusama parachain that provides compatibility with Ethereum decentralised application. The Moonriver crypto acts as a bridge between Ethereum protocol and a Web3 compatible API. Through this, the Moonriver will give authority to the developers to deploy the smart contracts and DApps (decenralised applications) with little modification.
It acts as a is intended to be a supporter to the Moonbeam protocol and aims to provide an incentivized canary network. A new code will be created in the process on Moonriver and it can be tested and verified. The new code will then be placed to Moonriver on the Polkadot network. Moonriver is also planning to develop an in-built integration for all Kusama and ERC-20 tokens and gradually bridge it to other crypt assets as well.
Moonriver Network design
Moonriver is governed by its native token MOVR. On 27 August 2021, the three exchanges Kucoin, Kraken and MEXC announced that they would be listing the coin on their platform. Due to its smarts contract, it offers increased security for the users. Besides, the Moonriver MOVR token rewards the users per KSM. The besides its low transaction cost also helps the users to there is no need to rewrite or an existing contract and works right away to reconfigure from the existing platform.
Besides it connects popular tools such as MetaMask, Remix, Truffle etc thereby creating javascript libraries such as Web3.js or Ethers.Js.
What one can expect from Moonriver?
Moonriver initial goal will be to serve the CanaryNEt. It will use Canary network to ward off any potential issues before the code is passed on to the Polkadot network. It means, it will be tested for both its functionality as well as performance or manipulation possibility to reduce the chances of failures. The Moonriver will use live cases to bring out a value-bearing version of the network.
As Moonriver will share the codes with Moonbeam protocol, it can start using its underlying tokens to support and distribute the network through the Moonbeam Foundation. It will take time for the crypto to showcase any sort movement. But it has created a lot of buzz amongst the potential investors. As it is getting launched on 27 August, the next week could give us a better insight about the performance and potential of the coin. Being listed on one of leading exchanges should also give it a much-needed impetus to grow.
