Moonriver: Smart contracts platform of the Kusama ecosystem

Moonriver is a project dedicated to building an Ethereum-compatible smart contracts platform on the Kusama network. Its main goal is to provide developers with a more convenient and efficient environment so that they can build interoperable applications based on the Substrate framework.

As the canary network of Moonbeam, Moonriver introduces Solidity smart contracts to the Kusama ecosystem. This means it provides full EVM compatibility for various projects on Kusama, such as decentralized trading platforms, NFT trading platforms, and DeFi applications. This compatibility allows developers to migrate smart contracts originally deployed on Ethereum to the Polkadot 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 phases. Currently, the project is in the first phase, which is the construction of the delegated proof-of-stake system. The focus of this phase is to achieve decentralization while ensuring network stability and incorporating third-party validators into the effective set. This makes Moonriver the first network to have a decentralized validator set and support custom parachain staking modules.

The next second phase will focus on the construction of governance functions. Once the governance functions are stable, the Sudo keys managed by the project team will be removed, further advancing the decentralization process. Ultimately, control of the network will be completely transferred to the token holders.

After completing core functions such as decentralization, delegated proof of stake, and governance, Moonriver will enter the full launch phase. At that time, it will update balance transfers and EVM functions, allowing developers and end users to fully utilize all of Moonriver's features, including fund transfers, participating in the staking system, deploying smart contracts, and claiming rewards.

Moonbeam, as an Ethereum-compatible smart contracts platform within the Polkadot ecosystem, aims to become an indispensable smart contracts chain in the Polkadot ecosystem. Its goal is to provide the easiest development environment and the richest developer integrations, attracting more applications that wish to connect to the Polkadot ecosystem through "out-of-the-box" features. Moonbeam's Ethereum compatibility allows it to seamlessly transfer Ethereum's 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 that projects developed on Moonriver can be quickly deployed on the Kusama network. Currently, several well-known Ethereum projects have expressed support, including DEX, NFT platforms, lending platforms, as well as developer tools such as Covalent, Chainlink, and The Graph.

In the coming month, we may witness further prosperity in the Kusama ecosystem. The full EVM compatibility of Moonriver is expected to greatly enrich the Kusama ecosystem, attract more developers to participate, increase network throughput, and potentially become a bridge connecting Ethereum and Kusama. If this path is successfully opened, Moonbeam on Polkadot may also achieve similar effects.

Moonbeam currently discloses a generally high quality of partners, and the frequency of partnership announcements shows its strong market operation capabilities. If it can maintain this momentum, Moonbeam's speed in building its own ecosystem is expected to become a leader within the Polkadot ecosystem, making it worthy of close attention.