What does Moonbeam do?

Moonbeam Network is an Ethereum-compatible smart contract parachain on the Polkadot network, launched in 2020 and officially deployed on December 17, 2021. It enables developers to build cross-chain connected applications, allowing for seamless interactions across multiple blockchain networks. With its Substrate framework, Moonbeam supports various programming languages and utilizes Cross-Consensus Messaging (XCM) for efficient communication with the Polkadot Relay Chain and over 100 connected blockchains. The platform offers several key features, including cross-chain connected contracts, Ethereum compatibility, and interoperability solutions through integrated bridges. Moonbeam also provides MyNFT, a gateway for NFTs, and operates Moonriver as its canary network for testing. The native token, Glimmer (GLMR), is used for transaction fees, network security, and governance. Moonbeam hosts over 200 live applications across sectors such as DeFi, NFTs, gaming, and real-world assets, targeting developers and companies in telecommunications, gaming, and finance.