Polkadot (CCC:DOT-USD) is one of the most robust blockchain networks available right now. Rather than just having one chain, the Polkadot network has a large series of chains that users can transfer data across with high speeds and efficiency. It’s an innovative network that developers often want to be a part of; getting a project on Polkadot means it can operate at an efficiency not offered on other chains. Moonriver (CCC:MOVR-USD) is one of the newest projects under the Polkadot umbrella, and investors are looking to buy the Moonriver (MOVR) crypto as it continues to appreciate in value.
Polkadot’s sister chain, Kusama (CCC:KSM-USD), operates just like Polkadot does. You can think of its relationship to Polkadot as that of a minor league baseball team to their major league affiliate. It offers a sort of test playground for developers, giving each project its very own parachain to experiment on before moving to Polkadot. Every developer who wants to be on Polkadot clamors for a spot on Kusama first. There, they can work out all the kinks.
Kusama only hosts about 100 parachains, meaning it’s an exclusive club to get into. A project that secures a testnet on Kusama is definitely one worth keeping an eye on, and Moonriver is no exception. The Moonriver network, one of the Kusama’s newest parachain owners, launched in mid-August, and it’s already on fire.
Moonriver (MOVR) Crypto Booms as New Sister Network to Moonbeam
Just as Kusama acts as a younger sibling to Polkadot, Moonriver acts as a sibling to a larger project called Moonbeam (CCC:GLMR-USD), which is already on Polkadot. Moonbeam looks to provide an alternative to other developer projects by combining smart contract capabilities found on Ethereum (CCC:ETH-USD) with the high scalability offered by Pokadot’s multi-chain network.
Moonriver is thus the testing ground for Moonbeam; new code to be implemented on the network is sent there first. Developers can work out the bugs within Moonriver before sending things over to the Moonbeam mainnet.
Moonriver’s launch on Kusama was just weeks ago, but it’s already a booming token. Initially launching at a price of about $70, the token is surging to about $330 already; it can largely thank today’s 62% boost for this impressive valuation.
Kusama and Polkadot are well respected networks in the blockchain space, and projects that land there are well worth checking out. It’s no wonder then that investors are piling into the Moonriver (MOVR) crypto. Trading volume of the token is up 117% today. Investors who are seeking to buy their own MOVR have plenty of options. Most notably, the Kraken and KuCoin exchanges host MOVR. Gate.io also carries the token.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.