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What is Moonriver (MOVR)? How to Buy MOVR in India?

What is Moonriver (MOVR)? How to Buy MOVR in India?

Moonriver is the parallel network for Moonbeam (GLMR). It is a platform to develop and test smart contracts for its readiness for real world user scenarios. Once the smart contract is tested it can be sent to the Moonbeam – a parachain on the Polkadot network. 

In today’s blockchain solutions a battle tested smart contract is crucial for optimal security of user funds and smooth operations of a platform. Smart contract is the heart of a blockchain based platform. To ensure that the code of a smart contract is free from vulnerabilities, one can test the same on Moonriver. To enable smart contract testing developers one requires the native token of Moonriver (MOVR). While there are third party smart contract auditors to analyze the infrastructure and code vulnerabilities, there could be chances of human error. 

The protocol offers some user-friendly tools for smart contract testing like EVM implementation and APIs that fetch function calls from the client (user). 

Launch Date January 2022
Founder  Purestake and Moonbeam foundation
Blockchain Protocol Proof of Stake 
Native Token  MOVR 
Market Cap ₹4,056,903,484
Token Type Utility token 
Circulating Supply ₹7,062,808,462
Max Supply  NA
Consensus Method  Proof of Stake 

WHO ARE THE FOUNDERS OF MOONRIVER?

Moonriver was founded by the team behind Moonbeam. Its major contributors are the Moonriver Foundation and Purestake. As a platform, Purestake offers blockchain infrastructure, APIs, and smart contract platforms for Proof of Stake networks. 

HOW DOES MOONRIVER WORK?

To build and test smart contracts in the Moonriver blockchain, a user requires the native token MOVR to get access to a range of functions. To use the set of tools and integrations required to build a robust smart contract a user needs to fund their crypto wallet with MOVR tokens. Once the smart contract is deployed and optimized for real time production, the developer can transfer the contract directly to Moonbeam or Kusama parachain. The platform’s use case and the utility of its native token MOVR is what brings monetary value to the token. 

WHAT MAKES MOONRIVER UNIQUE USE CASES?

EVM implementation for testing: Developers on the platform can test the smart contract on real world applications on the Ethereum blockchain. 

Gas metering for smart contracts: The native token of Moonriver allows the builder to pay gas fee for deploying a smart contract.

Range of developer tools and platform integrations: The platform offers on chain governance for improvement proposals that are peer reviewed, the native token is also used to pay network fees. Moonriver has integrated important softwares like Metamask, Remix IDE, web3.js, Ethers.js, Truffle and other toolkits such as Polkadot.js apps. The platform also offers blockchain bridging through softwares like Chainbridge, Ren, Interlay, Snowfork, Axelar.

MOONRIVER  PRICE ANALYSIS

  • Moonriver bottomed in November and December, 2022. It has shown signs of reversal in early January, 2023.
  • The token has shown resistance at $8 which is equivalent to INR 651.05 and support at $6 which is equivalent to INR 488.29. 
  • The 50 day Moving Average of MOVR stands at $8.1479826 which is equivalent to INR 663.09. 

Source: TradingView 

Moonriver  Price Today ₹662.44
Price Change <Yearly> No data 
Market Dominance 0.00%
Market Rank (as per CMC) 374
Market Cap ₹4,056,903,484
Fully Diluted Market Cap ₹7,062,808,462
ATH INR 40,235.73 
ATL INR 496.58

HOW TO BUY MOONRIVER TOKEN IN INDIA?

Want to buy Moonriver tokens in India, CoinDCX is the best-suited place. Being India’s leading crypto exchange, CoinDCX is also one of the best Bitcoin and crypto apps for beginners. To begin with, all you have to do is,

  • Download the CoinDCX App on your smartphone 
  • Enter the details required for registration 
  • Complete KYC 
  • Once your profile is verified, fund your CoinDCX wallet and buy Moonriver (MOVR)

Read more: Latest Crypto News

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