Blockchain

Polkastarter Joins Moonbeam to Boost Cross-Chain Interoperability

Polkastarter, a leading cross-chain swap protocol, announced its integration with Moonbeam, an Ethereum compatible parachain network, on December 2nd. Polkastarter is a decentralized protocol built for cross-chain token swaps and auctions between the two leading smart contracting platforms, Ethereum and Polkadot. With this integration, the migration between two smart contracting platforms, namely, Ethereum and Polkadot ecosystems, would become easier.

The existing Ethereum network is facing issues like high gas fees and clogging due to the DeFi craze. Hence, many Ethereum-based projects need to migrate from Ethereum to other alternative platforms. Polkadot seemed to be the perfect choice for the Moonbeam network. It allows multiple types of blockchain called Parachains while preserving all the central relay chain’s security measures. To improve the migrated users’ experiences from Ethereum to Polkadot, Moonbeam has recently released its 3rd testnet version called Moonbase Alpha V3, which is currently live on its testnet. 

With Moonbeam’s technology supporting the easy migration between the two smart contract platforms, it will be easy for the Polkadot developers to re-deploy the existing Solidity Code to the Polkadot ecosystem after making changes as the migration demands. With Moonbeam, both the developer time and the need for enormous resources are reduced to a manifold. 

On the other hand, such a quick migration between the two leading smart contract platforms will help the Moonbeam developers to have access to more DeFi tools available, which will, in turn, make the token exchange process easier while raising capital on a decentralized, interoperable and permissionless environment based on Polkadot. 

Moreover, Moonbeam has the potential to transpile Solidity code and other Ethereum-powered codes to be compatible with Substrate environments and Web3 environments on the Polkadot ecosystem.

With these innovative steps. Polkastarter will soon make its position among the top cross-chain DEX (decentralized exchange) in the entire crypto space. With this partnership, By utilizing Moonbeam’s technology, Polkastarter’s logic & smart contracts code can also be easily ported over to the Polkadot Network with Moonbeam’s help. With the various Polkastarter applications for token swaps, DEXs can perform the cross-chain transactions quite effectively and in a more user-friendly manner. 

About author

Articles

Jason Bailey is a financial journalist of EverCoinNews team and he is a strong believer of blockchain technology primarily because of how it reshaping the world economy and benefits of cryptocurrencies. He curates content for upcoming news stories of blockchain world and fintech industry. In his free time, he loves to explore new places and connect with influential people of crypto space.
Jason Bailey

Leave a Reply

Your email address will not be published. Required fields are marked *