Exchange Glimmer (GLMR)

Moonbeam network is an Ethereum-compatible smart contract parachain on Polkadot. It makes it easier to use the developer tools for those who want to build and deploy using Solidity language in a Substrate-based environment. The Moonbeam network is open source, which means that anyone can review the code and make suggestions. This openness makes it easier for developers to use the network and make modifications.

There are a number of benefits to using the Moonbeam network, including its ability to provide secure data transmission and storage, its decentralized structure, and its compatibility with a wide range of applications. Moonbeam allows the building of cross-chain-connected applications. 

The project was launched in 2019 by Derek Yoo. He serves as CEO of PureStake - a blockchain platform that provides secure and reliable public blockchain infrastructure for developers and enterprises. Some team members from PureStake also became part of the Moonbeam project team, including Stefan Mehlhorn, Katie Butler, and Nate Hamilton.

The architecture of the Moonbeam network is based on Ethereum's Web3 RPC. It consists of a network of mirrors that distribute transactions and blocks across the network. This allows the network to scale to handle large numbers of transactions. The Moonbeam’s RPC also mirrors accounts, keys, subscriptions, logs, and more, and also extends the set of tools provided by Ethereum, offering on-chain governance, staking, and cross-chain integrations. 

The compatibility between Moonbeam and Ethereum allows developers to use existing Solidity smart contracts right away without the necessity to rewrite or reconfigure them. Moreover, they can connect existing popular toolsets, including Metamask, Hardhat, Waffle, Remix, and Truffle using a set of Web3 RPC endpoints. Users also can interact with Moonbeam with their existing Ethereum H60 accounts. 

​​Moonbeam is designed to be more scalable than Ethereum. It has more than 10 times the capacity of Ethereum, and it can handle more transactions. Moonbeam also has its own token, which can be used to pay for services on the network.

The network is designed to be decentralized and secure. It uses a nominated Proof-of-Work consensus algorithm. Moonbeam also has a unique privacy feature called "Stealth Addresses". Stealth Addresses allow users to remain anonymous while using the Moonbeam network.

As one of the parachains on Polkadot, Moonbeam offers integration and connectivity with Polkadot and other parachains on it. The project also provides bridges to popular networks like Bitcoin and Ethereum. Developers that use Solidity or Vyper-based smart contracts to build applications that can go on multiple chains and go live on the Polkadot chain, benefiting from its growing ecosystem. Developers can also move their existing dApps to Polkadot or easily build a new permissionless decentralized application applying almost the same as Ethereum’s tools. 

Glimmer token (GLMR) is a native token that powers the Moonbeam ecosystem. The coin was issued via a Private Community Event called Take Flight. The total token supply is 1 billion coins. the annual inflation rate is set to 5% as there will be an uncapped token supply. The GLMR token is necessary for network participants allowing them to access vital functions of the platform. The GLMR is also a governance coin, that provides holders with the right to vote for the proposals on the network and elect council members. 

Average Fees on Moonbeam

By using a unique scalability solution, Moonbeam is able to offer lower fees than other networks, making it a valuable option for anyone looking to get involved in the blockchain space. The average transaction fees on the Moonbeam network are between 0.01 and 0.03 GLMR. Currently, the transaction fees are static.

GLMR Token Wallets

After the Moonbeam network went live on Polkadot, many platforms, exchanges, and crypto wallets started to accept the GLMR coin, including Bit2Me, Kucoin, Metamask, Ledger, Trezor, Exodus, imToken, etc.