The world of digital coins is engulfed in the vicious clutches of the bears, which has clamped the up-swing of cryptos. While the monetary metrics have taken the wrath of the market. The underlying protocols of the digital assets have been engraving newer mileposts.
The crypto town is all set to welcome another big move, which this time around is from the stable of Polkadot. Successively, Moonbeam’s launch to Polkadot scheduled on the 11th of January has taken space by storm. In the interim, Polkadot has been hosting its 7th parachain auction. Where in Composable Finance has been running at forefront.
Polkadot An Alternative To Ethereum?
Polkadot is now hosting its 7th parachain auctions, which has caught sight of geeks from the business. Composable Finance has been leading the current parachain auctions at forefront.
The previous batch of auctions have garnered immense interest from the masses and have been doing notably well at development fronts.
Moonbeam’s launch to Polkadot is scheduled on the 11th of January 2022. Post completion of phase-2 of its launch process. During the phase “Sudo” a superuser key will be removed and EVM and balance transfers will be enabled. Balance transfers will allow users to stake and start claiming rewards from the crowd loans.
After complete launch, the network will hold full functionality for developers and end users, including the ability to transfer funds. Participate in a staking system, deploy smart contracts, and claim crowd loan participation rewards. The Moonbeam crowd loan sees over 35 M DOT that tallies to about $1.4 B contributed from over 200,000 contributors.
The Moonbeam ecosystem has made more than 80 integrations in a year’s time. That includes projects catering to NFTs, DeFi, dApps, Bridges, Oracles and more. The collective efforts of which will bring vital impetus to the Polkadot ecosystem.
Summing up, Moonbeam is expected to escort imperative virtues to the Polkadot. Following the suit of Moonriver, which turned tables in favour of Kusama.
Moreover, the project will bridge the gap between Polkadot and Ethereum. Polkadot with its visionary roadmap and assistance from projects like Moonbeam could retrieve its losses, whilst on its trek to greater highs in near future.