PureStake CEO Derek Yoo Explains the Technology Behind Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Derek Yoo is the CEO of PureStake, the technology company behind the Moonbeam Network. He recently joined the Bitcoin.com News Podcast to talk about the technology: Derek Yoo is a serial Web2 technology entrepreneur who has spent the past 20 years building successful software and cloud companies.....
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Following an initial seed capital round of $1.4 million, Purestake has raised a $6 million strategic round of financing from a consortium of investors to accelerate development, as the team aims to bring the Moonbeam network live in the second half of the year. Ethereum-Compatible Smart Contract Initiative Aims To Deliver Mainnet By Mid-2021 Ethereum may be the blockchain of choice for many decentralized application (dapp) and smart contract developers at present, but that paradigm is quickly shifting as more roads lead towards Polkadot, an up-and-coming cross-chain communication protocol.....
The company building Moonbeam is focusing on integration work and a renewed marketing push. PureStake, the company behind the Moonbeam and Moonriver networks, two parachain candidates for Polkadot and Kusama, respectively, announced a successful $6 million raise.The funding round was led by CoinFund and included participants such as Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, IOSG Ventures. Some previous seed investors, who had funded the project in September 2020, also joined. These include investors like the Polkadot-centric Hypersphere Ventures, Hashkey, Arrington XRP,....
Derek Yoo, the founder of Moonbeam, noted that the integration lets their platform provide “building blocks” to DeFi developers. Decentralized oracle network Chainlink (LINK) has integrated its service called Chainlink Price Feeds to Moonbeam, a smart contract parachain on Polkadot (DOT), to provide data to developers in the platform. In a release sent to Cointelegraph, Chainlink's team noted that going live on Moonbeam will allow those who build within the platform to access price information that’s compiled and aggregated from many different exchanges. This allows decentralized finance....
As Polkadot inches closer towards its first parachain auction, Moonbeam, one of the fastest-growing parachains on the Polkadot network, is already on a winning spree. Launched in 2020, Moonbeam first deployed its canary network Moonriver on Kusama, Polkadot’s canary network, in June 2021, with Moonbeam set to deploy on Polkadot later this year. Since its […]
2021 was an eventful year for Moonbeam, the newest Polkadot-based smart contract platform that aims to provide users with a more scalable and cost-effective alternative to existing legacy chains. Launched in January 2020 by Derek Yoo of Pure Stake, Moonbeam ranks among the most thriving “multichain” projects to join the Polkadot ecosystem. Designed to provide […]