This project wants to recreate Ethereum on Polkadot

Summary (IA Generated)

The MoonBeam project is planning on setting up a custom parachain that would emulate the Ethereum Virtual Machine environment, effectively recreating Ethereum (ETH) on Polkadot (DOT).

Developers on Polkadot and some other interoperability projects usually need to set up an entire blockchain to host their DApps.

MoonBeam seeks to become a kind of Ethereum emulator for Polkadot, running on the same virtual environment that is currently powering all smart contracts on Ethereum.

The team says that this allows Ethereum DApp developers to only make minimal changes to their code and maintain use of developer tools like Truffle and Metamask.

Other Substrate modules will still be available, allowing developers to implement on-chain governance, social recovery for wallets and other features with ready-made code.

The team claims that MoonBeam is a more affordable smart contract platform with strong on-chain governance — often emphasized by Polkadot co-founders as a necessity for blockchain systems.