cryptonewsz.com
Ocean Market is now live on 4 production systems: Polygon, Ethereum mainnet, Binance Smart Chain (BSC), and now, Moonriver. Ocean’s technology has been delivered to Moonriver as one of Ocean’s multi-chain approaches. Moonriver is the Polkadot / Kusama ecosystem’s primary EVM-compatible network. This provides outstanding safety and cross-chain compatibility, which is expected to grow exponentially.
Moonriver is a subchain that uses the protection of the Kusama relaying network (parent chain). It is a parachain of the Polkadot relay network and a sibling to the planned Moonbeam chain. Polkadot focuses on large enterprise apps, whereas Kusama focuses on fast testing and long-tail apps.
Moonriver came live on On August 26, 2021. It has already gained a lot of traction. In just three weeks, it had surpassed one million payments and 100,000 wallet entries. After a week and a half, the number of trades had risen to 2 million. It has over $200 million invested in DeFi apps and another $270 million in collator stakes, which is impressive for any system, let alone one as new as this one.
Since January 2021, the Ocean core group and the Moonriver / Moonbeam team members have been working together. In April, the Ocean core group released the Ocean backend elements and the Ocean Marketplace frontend to the Moonbase Alpha testnet. They then discussed their findings at the Moonbeam #Illuminate21 community event in May.
Ocean and Polkadot have known each other since they were new to the marketplace. From the auditing process to go-to-market strategies, Ocean’s creators and Kusama / Polkadot have already been working since 2014-era Ether beginnings through the establishment of Parity (née Ethcore) and Web3 Foundation, always with the aim of technical integration.
Moonriver is Ethereum-compatible, allowing it to perform smart contracts and use ERC20 currencies in the Ethereum paradigm. It’s a Solid evidence network with a cutting-edge agreement method based on Parity Substrates. In comparison to the Ethereum blockchain system, this allows it to have minimal gas prices and latencies.
The good news for Ocean Market users is that they can now publish, exchange, invest, and utilize data resources on Moonriver, thanks to the addition of Ocean to the platform.
Ocean frameworks and the frontend market can be used with Moonriver by data marketplace developers and other dApp programmers. Ocean token holders can also use the AnySwap bridge to transfer their tokens from the Ethereum network to Moonriver and back.