What is Moonriver (MOVR)?
Moonriver is a smart contract parachain built on Kusama that is Ethereum-compatible. It’s supposed to be a companion network to Moonbeam, offering an always-encouraged canary network. The new code will be submitted to Moonriver first, where it will be tested and validated under real-world economic conditions. After being validated, Moonbeam will receive the same code on Polkadot.
Moonriver does this by providing a full EVM implementation, a Web3-compatible API, and bridges to existing Ethereum networks. Developers will be able to transfer existing Solidity intelligent contracts and DApp frontends to Moonriver due to this.
Key Features of Moonriver
A minimum of five MOVR tokens can be staked on the network. The prize payout time is separated into two rounds of 300 blocks each, each taking around an hour to complete.
Collators create blocks and gather transactions from users to offer evidence for relaying the validation process. Nominators are MOVR token holders who HODL and stake their tokens on the Moonriver network and vouch for their chosen collators. The rewards are divided equally between the collators and the nominators.
The collator’s incentives are set at an annual inflation rate of 20%. Meanwhile, nominators get varying rewards depending on the number of tokens placed in the Nominators reward pool.
MOVR holders have power over the Moonriver network. They may submit proposals, assemble referendums, set public referendum launch dates, fast-track voting periods, create lock and cool-off periods, and delegate voting authority to other accounts.
A common treasury will be formed to allow the governing council’s authorized plans, and it is funded by a certain percentage of the network’s transaction fees. The unique feature of this functionality is that each Moonbeam-based network will have its customized treasury, enabling speedier cash administration and distribution to governance council-approved programs.
How To Buy Moonriver(MOVR) in India?
You can buy Moonriver(MOVR) Coin in India from several different exchanges but a trusted firm like BuyUcoin is important. With BuyUcoin you can trade MOVR in India along with 130+ cryptocurrencies in INR and USDT pairs.
Buy Moonriver in India — Step by Step Guide For Beginners
BuyUcoin is an Indian cryptocurrency exchange where you can buy and sell Moonriver and other cryptocurrencies. The following is a step-by-step guide to acquiring Moonriver using BuyUcoin:
Step 1 — Open a Digital Wallet
A digital wallet keeps your cash and uses blockchain technology to connect with other citizens. Before deciding what is best for you, it is necessary to undertake sufficient research. Nonetheless, there are several digital wallet providers, and BuyUcoin is presently the leading provider of digital wallets.
Step 2 — Register & Open an Account
When you enter the BuyUcoin/Signup account, register, and build a service account, select the person or corporate form of a report. Choose your country and adhere to your Bitcoin trading account’s terms and restrictions.
Step 3- KYC
In the Indian jurisdiction, KYC and AML are necessary. Your data is secure and encrypted, and it is only stored in Indian data centres. You are sent to another URL to complete your KYC. Please have your last selfie-ready. It is required to take photographs of your pan card, and it is vital to know the mobile number connected with your Aadhar card.
Step 4- Google 2 Step Verification
You must have the Authenticator app installed on your smartphone or tablet to use 2FA. If you activate it, you will be requested to provide a 6-digit one-time password in addition to your email and password every time you log in to your BuyUcoin account. This only works if you provide an email address and a password.