Moonbeam is one of the fastest rising coin in the cryptocurrency market and has been on surge lately.
For those that lost out when Bitcoin, Ethereum, Dogecoin all had a quick run up, will want to learn more about the token and study the reviews. On this article, we will review Moonbeam by listing the pros and cons.
Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.
What is Moonbeam?
Moonbeam is a parachain on Polkadot that brings smart contracts and interoperability with Ethereum to the table. Simply, Moonbeam will let Ethereum developers stretch their legs and extend their influence to the Polkadot ecosystem while sharing workloads seamlessly on a new layer.
Glimmer (GLMR) is the utility token of the Moonbeam Network, Moonbeam’s primary deployment on the Polkadot network that serves as a developer-friendly parachain. Moonbeam will launch after Moonriver, it’s “Canarynet.”
Moonbeam combines the best of both worlds: the familiar and easy-to-use tooling of Ethereum and the scalable, interoperable architecture of Polkadot.
There are 78,534,325.00 GLMR in supply.
Pros and Cons of Moonbeam
Pros of Moonbeam
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of Moonbeam
- The coin is still under research and developments
- Multiple issues with its synchronizations between ledgers
- Unavailability of project whitepaper
- Not listed on exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is Moonbeam Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Moonbeam have a very weak back up for the token they produce. Their public profiles are vague therefore making it difficult to determine their level of transparency.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Moonbeam on the comment section below. Don’t forget to rate and leave a review.