Moonriver is a parachain (a system that connects blockchains into a single ecosystem) for Moonbeam. Moonriver provides developers with a wide range of tools for creating decentralized applications, or dApps, as well as working with smart contracts.
Developers can quite easily deploy dApps written in Solidity (a programming language for working with smart contracts on the Ethereum network), and still get numerous benefits from working with the Polkadot ecosystem.
Moonriver is a sidechain (a type of blockchain) for the Moonbeam network. Moonriver offers all the features of Moonbeam like development tools for smart contracts. Every dApp launched with Solidity can migrate to Moonriver.
At the same time, new apps of any kind can be deployed on the platform. Subsequently, any new project can be brought to Moonbeam or stay independent on Moonriver.
Parachain is launched in 2021 on the experimental Kusama network. It provides all the tools developers need. Both platforms (Moonbeam and Moonriver) offer a simplified approach to app creation. In addition, lots of built-in integrations are implemented here as well. For example, DOT and ERC-20 tokens are already available for users.
The Moonriver project provides a development environment that is fully compatible with the well-known blockchain. It also provides capabilities for creating dApps, standard tools, and Ethereum protocols on the network.
The compatibility system has a four-layer structure, allowing developers to work fully on apps using available tools. With the Ethereum Virtual Machine, developers are able to work with all the built-in tools of this blockchain.
Web RPC allows deploying dApps on the Polkadot ecosystem. By using the available tools, developers can also run existing smart contracts written in Solidity on the Moonriver platform with minor modifications. Deployment tools include Hardhat, Truffle, Remix, and others.
The Moonriver DeFi Ecosystem
The Moonriver DeFi Ecosystem (analogous to traditional financial instruments implemented in a decentralized framework) is one of the most active on Kusama at the time of writing this review. A large number of working products have already been created. Moreover, the growing community of Kusama has gained full access to all services.
DeFi applications use the same Ethereum compatibility feature. Many DeFi applications run on new versions of Moonriver due to their compatibility and available tools.
Types of projects created on the platform:
- Landing & Borrowing
Movr cryptocurrency: review, prospects and forecasts
An overview of Movr cryptocurrency would be incomplete without giving a description of the token itself. It’s a utility coin that supports the operation of a decentralized smart contracts platform. One of its most common use cases is to pay for transactions related to the execution of smart contracts (based on the gas principle in the Ethereum network).
For holders of Movr cryptocurrency, a promising use is staking. The system works on the principle of Proof-of-Stake. Due to this, users can maintain decentralization and generate funds.
In addition to staking, Movr cryptocurrency gives the right to manage the project. Movr cryptocurrency owners are able to participate in the development of the network, as well as to vote on key decisions.
80% of the tokens used to pay transaction fees are burned. The remaining 20% goes to a special fund of the project.
Prospects for Movr cryptocurrency
The project is of certain interest to developers. By using it, teams can deploy any apps available on the Ethereum network. At the same time, programmers are offered many useful tools to make the creation process even easier and more efficient.
Movr cryptocurrency is not an add-on to Ethereum. It is an independent platform that allows creating cross-platform apps for various purposes, including decentralized finance.
The latter is very popular among today's cryptocurrency users. DeFi services enable not only to buy or sell tokens securely, but also to gain profit from issuing loans in cryptocurrency.
In terms of Movr cryptocurrency forecasts, the price is quite far from the highs, which almost reached $500 per coin. Therefore, taking into account the prospects of the project development, the token may grow and exceed its peaks.
This token can be purchased on the reliable Broex platform. This platform is registered on the territory of the EU and has a license to conduct transactions with fiat currencies and cryptocurrencies.
Choice of instruments
Broex platform has made a strategic agreement with Binance. As a result, it offers a large number of tokens (600+ instruments). Moreover, Broex users can vote on the addition of new cryptocurrencies that are presented on Binance.
Among trading instruments, bitcoin, ether, monero, litecoin, and other popular tokens are suggested. In addition, many exotic coins are available.
Safe and secure storage
Broex is more than just a platform for buying and selling tokens. First of all, a cold wallet (servers disconnected from the Internet) is implemented here. Therefore, the maximum security is achieved. The user's fiat currencies are on a separate loop in accordance with the requirements of the European regulators.
Broex offers its clients ready-made portfolio investment solutions. These can range from a simple Bitcoin buying strategy to complex structured portfolios that include up to five trading assets simultaneously.
As for the pros of the platform, they are:
- A legal platform. The company has an EU license. The platform is registered in Estonia.
- The minimum entry threshold is only 1500 rubles.
- Simple and convenient registration. Verification takes only a few minutes.
- Minimal fee for all financial transactions.
- High level of liquidity.
- Large selection of trading assets.
- Cold storage of cryptocurrency, separate loops for fiat money.
- Wide choice of payment systems for deposit and withdrawal.
- Simple and convenient interface for transactions.