{"id":11045,"date":"2023-08-22T18:47:34","date_gmt":"2023-08-22T18:47:34","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11045"},"modified":"2022-05-18T04:41:48","modified_gmt":"2022-05-18T04:41:48","slug":"what-is-moonriver","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver","title":{"rendered":"What is Moonriver?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver\/#how_does_moonriver_work\" >How does Moonriver work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver\/#evm_implementation\" >EVM implementation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver\/#bridges\" >Bridges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver\/#web3_compatible_api\" >Web3 compatible API<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-moonriver\/#what_is_the_movr_token\" >What is the MOVR token?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Have you ever heard of\u00a0<strong>Moonriver<\/strong>? This is a project focused on offering advanced\u00a0<strong>smart contract capabilities compatible with Ethereum<\/strong>. There are several projects of this type, but the difference is that this one works through the\u00a0<strong>Kusama<\/strong>\u00a0network and its parachains. Its goal is to offer greater speed and scalability to the dApps deployed on the network.<\/p>\n<p>&nbsp;<\/p>\n<p>Moonriver was developed to serve as a\u00a0<strong>canary network or Moonbeam test network<\/strong>. Moonbeam runs on Polkadot (DOT). The Moonriver project is aimed at bringing the\u00a0<strong>Ethereum<\/strong>\u00a0(ETH) network and its dApps closer to the\u00a0<strong>Kusama<\/strong>\u00a0network. It thus enables powerful and flexible interoperability between the two projects.<\/p>\n<p>Like most projects, Moonriver has a\u00a0<strong>native token, MOVR<\/strong>. The purpose of this token is based on the\u00a0<strong>maintenance and operation<\/strong>\u00a0of the network. MOVR is also responsible for\u00a0<strong>paying transaction fees, supporting the execution of smart contracts, incentivizing block validation of nodes<\/strong>, and facilitating a decentralized\u00a0<strong>governance mechanism<\/strong>\u00a0for the entire system. Moonriver is the avenue for testing new projects and providing easier entry to projects in Kusama.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_moonriver_work\"><\/span><strong>How does Moonriver work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Moonriver was developed to act as a\u00a0<strong>platform oriented to the deployment of smart contracts and decentralized applications<\/strong>\u00a0that are able to interact with the Ethereum and\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-kusama-ksm\/\">Kusama<\/a>\u00a0ecosystem at the same time. The main goal is based on Ethereum developers being able to leave behind all the\u00a0<strong>scalability<\/strong>\u00a0issues we find in the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-eth-and-how-does-it-work\/\">Ethereum<\/a>\u00a0network, offering a new\u00a0<strong>execution space<\/strong>\u00a0on top of one of\u00a0<strong>Kusama\u2019s parachains.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>With this mechanism,\u00a0<strong>decentralized applications<\/strong>\u00a0or\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-dapp\/\">dApps<\/a>\u00a0are able to reduce their transaction fees and greatly<strong>\u00a0increase scalability<\/strong>\u00a0in order to offer\u00a0<strong>faster and more secure transactions<\/strong>\u00a0to users. One of the main advantages is that Moonriver makes this possible without the need for developers to rewrite the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-smart-contract\/\">smart contracts<\/a>\u00a0of their dApps. This facilitates\u00a0<strong>adoption and deployment<\/strong>\u00a0on the platform.<\/p>\n<p>&nbsp;<\/p>\n<p>To achieve a correct operation of the system, Moonriver has some\u00a0<strong>key elements<\/strong>. Below we will see each one of them and what their operation is based on.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_902505919\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver-300x205.jpg 300w\" alt=\"Moonriver\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"evm_implementation\"><\/span><strong>EVM implementation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To achieve proper operation, Moonriver must be able to\u00a0<strong>understand<\/strong>\u00a0smart contracts developed in the\u00a0<strong>Solidity<\/strong>\u00a0language and, in addition, it must be compatible with the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-the-ethereum-virtual-machine\/\">EVM (Ethereum Virtual Machine)<\/a>. All this so that Ethereum developers can\u00a0<strong>move<\/strong>\u00a0their decentralized applications from this blockchain.<\/p>\n<p>&nbsp;<\/p>\n<p>This project has the ability to<strong>\u00a0replicate<\/strong>\u00a0the exact RPC Web3 specifications and interfaces of the Ethereum network, in addition to its account system, ECDSA cryptography, logs, and so on. This whole system is aimed at\u00a0<strong>guaranteeing an execution space<\/strong>\u00a0exactly like the one we can find on the Ethereum network. In fact, the smart contracts deployed on the Moonriver network are completely\u00a0<strong>the same as those on the Ethereum network.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>These smart contracts are written in the\u00a0<strong>Solidity<\/strong>\u00a0language or any other language that is capable of generating bytecode.\u00a0<strong>Bytecode<\/strong>\u00a0is the code that runs the virtual machine for the\u00a0<strong>EVM<\/strong>. This is how an exact replica of the dApps and their behavior in\u00a0<strong>Moonriver<\/strong>\u00a0is possible without the need to make any changes.<\/p>\n<p>&nbsp;<\/p>\n<p>Thanks to this system, developers do not have to\u00a0<strong>adapt<\/strong>\u00a0to a different way of working, as they only have to deploy their contracts on the new network, and with that they will already be able to enjoy all its\u00a0<strong>advantages<\/strong>. This also brings us to the fact that developers do not need\u00a0<strong>new programming tools<\/strong>\u00a0to learn, as they can employ the same ones they used on the Ethereum network.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"bridges\"><\/span><strong>Bridges<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A crucial part of Moonriver\u2019s operation are\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-are-blockchain-bridges\/\">bridges<\/a>. Bridges enable both\u00a0<strong>token transfers, as well as state visibility and message transmission between Moonriver and blockchains that are connected<\/strong>. Examples of such chains can be Ethereum, Bitcoin, and so on. Importantly, Moonriver is currently closely linked to the Polkadot network. Thanks to this link it is possible to operate with\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-polkadot-dot\/\">DOT<\/a>\u00a0in addition to ETH to manage tokens such as\u00a0<strong>Chainlink or The Graph.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_2011692661\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2-300x205.jpg 300w\" alt=\"Moonriver\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Moonriver2.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"web3_compatible_api\"><\/span><strong>Web3 compatible API<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Previously, we saw that Moonriver has a\u00a0<strong>VM compatible with EVM<\/strong>. Well, this is only one part of its operation. This part is complemented by a second part that is oriented to offer the ability to interact with the dApps through a standard that today is quite well known, the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-web-3-0\/\">Web3<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>Ethereum has a Web3. This is an\u00a0<strong>RPC communication standard<\/strong>\u00a0that allows users to connect and interact with a\u00a0<strong>decentralized application<\/strong>\u00a0through their cryptocurrency wallet. You may think you\u2019ve never used this standard, but you probably have. We use it when connecting a wallet to the web such as\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-metamask\/\">Metamask<\/a>. In Moonriver we can do the same, i.e. we can connect any Web3 wallet to the platform without any adjustments or changes.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"what_is_the_movr_token\"><\/span><strong>What is the MOVR token?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This native token is responsible for performing various tasks such as paying network transaction fees, supporting smart contract\u00a0<strong>execution<\/strong>,\u00a0<strong>incentivizing<\/strong>\u00a0transaction validators, facilitating the\u00a0<strong>decentralized governance mechanism<\/strong>, and so on.<\/p>\n<p>&nbsp;<\/p>\n<p>Following the launch of the Moonriver network, the initial supply of\u00a0<strong>MOVR<\/strong>\u00a0tokens was agreed at\u00a0<strong>10 million<\/strong>. This issue is referred to as the Genesis Issue. The\u00a0<strong>Genesis Issue<\/strong>\u00a0has numerous utilities. Among them is to enable the\u00a0<strong>development<\/strong>\u00a0of a fund that serves to ensure the security of the network, which mainly consists of maintaining\u00a0<strong>the parachain slot of the project-oriented Kusama network.<\/strong><\/p>\n<p>An interesting fact is that part of these funds went to create a reward for users who participated in Kusama\u2019s\u00a0<strong>Crowdloan<\/strong>. This gave Moonriver the opportunity to acquire a parachain\u00a0<strong>slot<\/strong>\u00a0within the network.<\/p>\n<p>&nbsp;<\/p>\n<p>In the case of Moonriver\u00a0<strong>30%<\/strong>\u00a0of the reward issue was used which would be about\u00a0<strong>3 million tokens<\/strong>\u00a0<strong>for a total of 900 thousand tokens.<\/strong>\u00a0These tokens were given\u00a0<strong>equally<\/strong>\u00a0to the users who supported the project to obtain the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-parachain-and-how-does-it-work\/\">parachain<\/a>\u00a0slot that guarantees its operation. The other part of the tokens, which is\u00a0<strong>70%<\/strong>\u00a0is destined to maintain\u00a0<strong>the Moonbeam Foundation<\/strong>\u00a0with the objective of supporting the development of networks and protocols.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Have you ever heard of\u00a0Moonriver? This is a project focused on offering advanced\u00a0smart contract capabilities compatible with Ethereum. There are several projects of this type, but the difference is that this one works through the\u00a0Kusama\u00a0network and its parachains. Its goal is to offer greater speed and scalability to the dApps deployed on the network. &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11045"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7001"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}