Moonriver: Ethereum-compatible smart contracts platform on Kusama

Moonriver is a project dedicated to building a smart contracts platform compatible with Ethereum on the Kusama network. Although it is relatively low-key, its strength should not be underestimated. The main goal of Moonriver is to help developers create interoperable applications more efficiently within the Substrate framework-based ecosystem.

As the canary network of Moonbeam, Moonriver brings the functionality of Solidity smart contracts to the Kusama ecosystem. This means it provides complete EVM compatibility for various decentralized applications on Kusama, such as exchanges, NFT platforms, and DeFi projects. This allows developers to migrate smart contracts originally deployed on Ethereum to the Kusama ecosystem with minimal code modifications. At the same time, users can experience Ethereum-compatible smart contract services at a lower cost.

The development plan of Moonriver is divided into four main stages. Currently, the project is in the first stage, building a delegated proof-of-stake system. The focus of this stage is to achieve decentralization by incorporating third-party validators into the effective set to stabilize the network. This makes Moonriver the first network to have a decentralized set of validators and to enable customized parallel chain staking.

The next second phase will focus on establishing governance functions. Once the governance functions are stable, the permissions controlled by the Moonbeam team will be removed, and the control of the network will be fully transferred to the token holders, achieving a higher degree of decentralization.

After completing the construction of decentralization, delegated proof of stake, and governance functions, Moonriver will enter the full launch phase. At this point, it will update balance transfers and EVM functions, allowing developers and users to fully utilize all the features of Moonriver, including fund transfers, participation in the staking system, deploying smart contracts, and claiming rewards.

Moonbeam, as an important project in the Polkadot ecosystem, aims to become an Ethereum-compatible smart contracts platform on Polkadot. It not only provides developers with an easy-to-use development environment and a wealth of integration tools but also attracts more applications wishing to connect to the Polkadot ecosystem through its "plug-and-play" feature. Especially in terms of Ethereum compatibility, Moonbeam facilitates a smooth transition for the Ethereum application ecosystem to the Polkadot ecosystem.

With Moonriver winning the Kusama parachain slot auction, it is expected to be fully launched within a month. This means developers will soon be able to deploy their projects on Kusama. Due to its excellent Ethereum compatibility, Moonbeam has already gained support from several well-known Ethereum projects, including decentralized exchanges, NFT platforms, lending platforms, and various developer tools.

In the coming month, we expect to witness further prosperity in the Kusama ecosystem. The full EVM compatibility of Moonriver will greatly enrich the Kusama ecosystem, attract more developers to participate, enhance Kusama's processing capacity, and may become an important bridge connecting Ethereum and Kusama. If this path is successfully opened, it also indicates that Moonbeam on Polkadot will achieve similar success.

Moonbeam currently discloses a generally high quality of partners, and the frequency of partnership announcements demonstrates its strong market operation capabilities in ecological cooperation. If it can maintain this momentum, Moonbeam's speed in building its own ecosystem may become a leader in the Polkadot ecosystem, warranting close attention.