Moonbeam: Bootstrapping an Ethereum Compatible Ecosystem On Polkadot_Alberto Viera

in the middle of the talk we'll get it so all right so basically the idea is that i'm going to briefly present polka dot what it is for you guys and then i'm going to discuss moonbeam right and so basically i don't know if you're familiar with polka dot a lot of people are but polka dot it is called a relay chain or layer zero however you want to call it and the main idea is that it offers sort of like economic model around securing different para chains or block chains that connect to it so i like to see it as a hub as a central hub where other pair chains can provide specific functionalities to the ecosystem so one of the things i came to realization is that polkadot is nothing without the perijeans but the perijeans are nothing without polka dot they need each other but what are the pair of jeans right i've used this term but i've didn't introduced it and so basically para chains are the name comes from parallel blockchains and they're just different like ecosystem blockchains that connect to polka dot as a hub and they provide the functionalities to the ecosystem as a whole if you're not familiar with dot polka dot does does not really offer a lot of like uh stuff for end users it has taking has governance but there's like like no way to build dabs on top of it right and then it and then it relies on this pair of chains as a source of these like you know end user functions and so moonbeam is just one of these spare chains in the whole polka dot ecosystem they might be different pair of jeans out there they are like privacy focus bridge focused oracle focus and our pair of chains based on smart contracts so we want to be a smart contract hub that is it's mainly like our focus is to be ethereum compatible so we're going to provide you know the most ethereum frictionless environment out there and so uh the idea is that polka dot like i said it has two main benefits i personally i think that one of them is being this hub to to to ensure block finality so parrot chains only produce blocks and then polka dot when will ensure that the state transition between the blocks it's actually valid and the other cool thing is that because there's this intrinsic relationship between the pair of chains and polka dot is that there's enables of the weird the screen is doing weird things so hopefully it gets connected so um so hopefully there's this intrinsic relationship between the pair of jeans and the and the blockchain and the relay chain it enables features such as xcm and xcm is sort of like i mean there's things that it's not a protocol it's a message but in general for end users where or developers what they really need to understand is that is a way for these blockchains to communicate with each other natively so there's no bridge no real layers no source of of you know trust in this sort of sense if you're already trusting polka dot to finalize your blogs you know you're all you can also trust in the xcm features that it brings and so with that you know what it's moonbeam so moomin like i said before it's a smart contract uh compatible para chain uh in the ethereum compatible parachain in the polka dot ecosystem everything that i speak today uh it's also valid for moon river which are is our deployment on kusama so you know they're basically sister networks but we like to say that we're a bit more than just another ethereum chain right i mean a lot of it a lot of chains out there offer ethereum compatibility and so i want to try to convince you today of why moonbeam compared to other ones right so um first of all we're built with substrate if you're not familiar with substrate you can ask that joshie he's very familiar with substrate and so um basically substrate is a framework to build blockchains and the cool thing is that if you build with substrate it is relatively straightforward to connect to polka dot and benefit from polka dot and so that is one cool thing about this extra layer on top of our ebm implementation next you have web3 support so we have a full web3 rpc support meaning that all the json rpc from eth it works flawlessly with with moonbeam right this this unlocks a lot of potential for example metamask you can connect it to moonbeam flawlessly without you know even thinking about it and so it is very very straightforward when you want to work with moonbeam in this sort of sense and we have even gone a little bit further and we actually support like tracing rpc which is also very it's needed by a lot of like advanced stabs or something like the graph ether scan and so on the next cool thing is that we have a unified account system this means that on substrate uses a different account system that is based on sr255.9 and basically we modify the underlying account system so that it's fully ethereum compatible it uses easy dsa so you know there's no like two accounts to interact with substrate and with the ethereum compatible part it is very native very frictionless and the last part of the puzzle that which is we've worked really hard not only from a text perspective but also from like an ecosystem perspective is all the dev tools and integrations right we have a great documentation site where you can find a lot of demos of how to use hard hat how to use truffle how to use remix every single ethereum development tool that you've like worked and love you can actually use it on on moonbeam flawlessly so yeah this is this is not working am i actually disconnected because i'm getting weird like screen flickering um so basically the idea is that you can you can work and use all the tools that you know and love on booming flawlessly and so the question is now why moonbeam right why do you want to pick moonbeam and so the idea is that we combine the power of substrate meaning that we're natively connected to polkadot and you can use xcm stuff and then to also combine with like a seamless ethereum experience right so if you want to onboard to poke that we're probably the easiest way you can onboard and tap into the polka dot ecosystem so one another cool feature of substrate is that it has governance is has taking so there's a lot of really nice features that substrate brings and so that's why we want to be part of substrate but we also want to offer a place where ethereum developers don't have to worry about what is substrate you know what is what is the tools that i need to work with it's lb basically flawless and frictionless so um the next topic is it's uh so basically the ecosystem the compostability so i think one of the most beautiful things that ethereum has as a blockchain is the composability right you have a lot of projects that are deployed there and they can work together and make basically limitless combinations right i think you know i heard battalion in a podcast it's like he never imagined what you know defy was going to grow into it's like a huge monster that grew up out of nowhere and so it is really really cool to see you know all the composability that ethereum has and so we want to bring that to moonbeam and so since we started we definitely started looking into what developers wanted and needed and one of the things they needed it's not only oh yeah evm cool you have that oh cool yeah web3rpc they need tools to work on top of they need a good blocks block explorer like etherscan they need you know like indexers such as the graph and covalent they need a lot of projects they need multiseek wallets such as gnosis for example so we wanted to bring all these sort of like building blocks so that they can have everything that they need to work on and for us the best feedback we can get is the feedback from developers saying hey this is not working we'll go that is like a red flag for us and we'll start working tirelessly just to make sure that you have that feature for you right and so um one really cool thing is that we've built an ecosystem that it not only consists about these tools but you can also see projects like sushi swap which is deployed on moon river and i think it truly will deploy on moonbeam you have curve finance they deployed on monday it was really exciting to see that and so you have all these separate building blocks like lending protocols dexes stable dexes uh stable coins such as frags and and like bridges oracles everything working together to make sure that you have like the title of the talk you know we have bootstrap and interoperable ecosystem ethereum compatible ecosystem on pokedot so um how how do we bring ethereum compatibility into a substrate-based chain right and this is just probably the most technical part of the talk and it's not really technical so the idea if you're familiar of how the ethereum rpc like the ethereum communication layer works i'm not going to talk like low level this is very very high level but basically any any user developer tool or any wallet or anything what's happening is that they provide a very nice clean interface right for each json rpc it's like underneath what's going on is that there's a json rpc request to an ethereum node and the node understands that request and it's able to provide a response and so basically when metamask wants to like fetch the balance of an account right it uses the eth get balance saying i want to get this accounts balance on the latest blog and i'll get a response it understands the response and it displays it nicely to the user that's basically how it works i mean it's not that simple but that's basically how it works right and so what we did is that we built this sort of like technology stack in the middle uh using a parity project called frontier that we've worked like very actively on this project because it's a core part of our technology and so the idea is this basically you don't have to worry about it so if you're an ethereum developer if you're a theorem user you're going to use your same eth json rpcs if you're very hardcore you want to do the json rp like the curl commands yourself you can do that and then know the moonbeam node will understand that there's a lot of middle layers working to make sure that you know that gets mapped into a substrate runtime call we have ethereum related blocks and so so back and so forth and so the idea is that you have to don't worry about it and you'll get a response that is basically what your dab what you're expecting and so that's why you know you can grab truffle hard hat remix metamask just plug it in add a networking hard hat deploy and it will just work straight out of the box so that's that's the beauty of it honestly and so what does this mean and i had a really cool meme about all this but i mean you're not able to see it less sadly but the idea is that you know if you just send a json i had a an example of a json rpc command curl rpc say in the eth get balance you know alice will get his balance shown in metamask flawlessly without any any sort of like weird integration or anything so who is building on moonbeam well like i said before we're truly excited about the ecosystem we're putting together so for us like i said it's key not to just say we're ethereum compatible that say we're great it's about making sure that the ecosystem as a whole is complete so our bd team has worked tirelessly to make sure that we have a lot of great projects building on top of you know you have explorers wallets infrastructure providers bridges dev tools assets and issuance d5 defy has been you know probably the first building block that started on moon river and now on moon beam so you know if if you're an app that needs to build on top of those dependencies you could straight forward go for it and and start building on top right so i mean one of the things i think we'll see next on on moon river and moon beam is dex aggregators right i mean right now you can only interact with decks and access directly but now the building blocks are set so like aggregators start you know working on top of that layer so i'm we'll see i mean it's just like it's impossible to predict the future and uh so we have two networks like i mentioned we have moonbeam on pokedot we have moon river on kusama and we have been blown away about the adoption that we've seen in the first months i mean moomim launch one month ago and we have uh 2.2 million network transactions 153 000 wallets 32 million glimmers which is a token of moonbeam and it has are locked in in our staking palette so basically this this is roughly 160 million uh dollar securing uh block production mechanism and we have more than uh 1 000 erc20 tokens deployed right now i think the current tvl i would put it around 200 million dollars and this is only in the first month moon river has been live for i think uh six months roughly so end of august and we've seen 14 million network transactions 500 000 wallets 1.2 million mover tokens which is the the protocol token locked on staking and then more than 2 000 erc20 tokens a lot of nft stuff going on in moon river is really exciting to see uh and i think the tvl in moon river is roughly 220 million dollars and i think we still like need to add some some projects to defy lama because i think i think we're missing like 150 million in tvl for sure so in the last part of the presentation i wanted to talk about polka dot and in the interoperability so i think if you follow the presentation from the start you know that one of the promises big promises of polka dot and kusama is about interoperability right there's no need to to to rely on a bridge uh we've seen what happened recently with bridges that that's something that users need to understand that there's certain risks but polka dot and kusama offers sort of like native interoperability that you don't have to worry about if you're already trusting you know the block finalization finalization mechanism and so um i think that the idea is that moomim can be the gateway for adapt developers building natively applications on moonbeam to access other uh members of the ecosystem right so we can see dabs that can just reach out to other pair chains with storage privacy oracles and then we will see truly like native interoperable applications uh hopefully starting with kusama but then you know moving on to onto pokedot and so that that will be truly exciting to see and i do like i said before i do think that this is going to be the year where xcm gets like unleashed right it has been pretty exciting because we actually launched uh xcm features on on moon river first uh early this year and we launched something called the xc20 so it's another like brand of erc20 and so basically the thing is that um when you create an asset in a substrate chain so remember that substrate is the framework that we use to build uh moon river so basically the idea is that this assets are natively interoperable right so if you build an erc20 in our evm that is not native interoperable because it lives in the evm so this substrate assets can move around really well sort of freely inside the polka dot and kusama ecosystem but you know we always being moonbeam we was like we need to add an ethereum twist to it because if not we're not focused on ethereum compatibility so we created something called the xc20s which are basically this erc20 token assets but basically with uh sorry this is substrate assets with an erc20 interface the exciting thing about this is that any developer any user can just add this xc20 to their metamask we've been seeing a lot of dexes adding these exit 20 tokens to to their like platforms to their yeah their dex platforms and so i mean if you think about it you know i i do believe that there's going to be lending built on top of us and so there's this unlocks a little bit more than just like a substrate asset that it's interoperable right it really allows this evm dapps to tap into this interoperable world that it's that it's just like brought to you by substrate basically so it is really exciting to see right now on river our first two tokens that we moved this uh xck ascent which is kusama and i think we have around 8 000 ksms on moon river and i think we have around uh uh 500 000 x remarks which is like the erc20 token more or less of a of a really cool nft project on kusama so it's really great to see the the engagement that we've had so yeah sadly i was unable to show you the slides you can actually find them on bitly as bit.ly is moon east denver 22 so you can find the slides there i'll probably be in the next hour or so in the hallway if you have any questions about moonbeam you can come build with us for sure you can visit our website moombim.

network and there you'll find a lot of resources telegram channels discord my name is alberto if you can find me in telegram it's alberto v19 be careful because i guess i'm famous enough that we have impersonators so you know i have to click the right one if you don't want to get an impersonator um i'm happy to talk to you about you know convincing you to build on moonbeam and tap into the polkadot system so thanks thanks for your attention [Applause]