What is Moonbeam and the project’s future?

Alexey S.
2 min readFeb 17, 2021

Moonbeam is intended to complement existing Ethereum-based platforms, not to compete with them.

Ethereum will continue to take centre stage in the multi-chain future, particularly in relation to DeFi and related technologies. Everybody expects its significant project potential and development to continue. There are already fans of the amazing Ethereum ecosystem, including its battle-tested developer tools.

Crypto is the future

In this future, it is hard to imagine a world where only Ethereum or BTC exist. Many other chains will coexist with Ethereum, this includes Moonbeam and other chains of the Polkadot network. No chain monopoly can exist for a particular use case — there will definitely be DeFi activity in other chains, not just Ethereum, and for serving assets and users in those chains.

Moonbeam will largely complement Ethereum by offering existing Ethereum projects the ability to give away some of their work from Ethereum layer 1 to Moonbeam, while their reach to users and assets can be extended in other chains.

About Moonbeam

Moonbeam was designed especially for these migration and upgrade scenarios; its whole purpose is to find a way to reduce implementation, scale quickly to meet the needs, and provide an entry point for expansion into Polkadot and Polkadot-related chains. And whether projects are on Moonbeam or as Polkadot-based parachutes, Moonbeam can still be the place where integrations are made and where functionality from application-specific parachutes on the network can be consolidated into higher-order features before being presented to end-users.