Moonriver Surpassed 8M Transactions After Polkadot Parachain Auction

Moonriver surpassed 8 million transactions after the Polkadot Parachain auction as it hit a new milestone this week on its network as we are reading more in our latest cryptocurrency news today.

Moonriver is an ETH-compatible parachain running on the Kusama Network which reached a new milestone this week as it surpassed eight million transactions on its network. Moonriver is a test network for the  Moonbeam protocol which hit a new milestone this week by reaching eight million transactions on the network and became a leading parachain in Kusama.

The platform announced that it reached the multi-million transaction on November 10 and it became the biggest adopted parachain on the Kusama Network. Moonriver is one of the best parachains on Kusama which secured a parachain slot for 2022 with more than 60 integrations that went live, as well as 173,000 wallets with 2000 for ERC-20 tokens supported. Kusama is the sister network of Polkadot which soared 15% to a new high following the anticipation for the parachain auctions that allow developers to register parachains and to seek crowd loan funding.

The canary-test network is a small version of the original Moonbeam code which is used to test and to carry out new features for the voluntary users. At the time of writing, Moonbeam is at the number 2 spots of the top five crowd loans on the Polkadot parachain auction which raised more than $1 billion through the crowd loan.

As recently reported, A month ago, Parity Technologies created the network, announced that parachains will soon come to the network. These are essentially full blockchains that are incorporated into the Polkadot network for validation of transactions and security. Polkadot aims to become a layer-zero protocol or a blockchain of blockchains that are making networks interoperable. A recently passed measure by the Polkadot council means that the developers are able to start registering parachains starting on November 5^th which only affirms the council’s decision. The bid on auction slots and the creation of them means that the developers need DOT. The holders also use DOT as a governance token to vote on the measures and they will vote with DOT on the Polkadot branding as well.

Source: https://www.dcforecasts.com/altcoin-news/moonriver-surpassed-8m-transactions-after-polkadot-parachain-auction/