Blockchain network scalability is one of the important issues that dApp developers care about. Therefore, current crypto projects are always aiming for solutions to expand the network and optimize transaction costs for users.

Astar Network (ASTR) – a platform that supports solutions in building dApps on Polkadot. Let’s learn about it through the content below.

What is Astar (ASTR) ?

Astar is a multi-chain smart contract platform that supports multiple blockchains and virtual machines. Astar Network connects the Polkadot Ecosysstem to Ethereum, Cosmos, and all major Layer 1 Blockchains.

What problem does Astar Network solve?

Astar Network is a scalable smart contract platform on Polkadot supporting cutting-edge layer 2 solutions. It is built on Substrate and designed to be a Polkadot Parachain. Astra Network aims to make Ethereum 2.0 on Polkadot.

Astar Network focuses on making the best smart contract platform so that dApps developers on Polkadot do not need to pay much attention to infrastructure and can focus more on their dApp. Ideally, the developers can build whatever applications on Astra Network without having to consider its scalability. 

Astar Network solves prominent issues: scalability and interoperability

Scalability

Blockchains do not scale by design because of the decentralized consensus mechanism. TPS (Transaction Per Second) is much smaller than a centralized database and there is an upper limit of data that can be stored in every block. Therefore, users across the network may notice their transactions sit unconfirmed or pending for long periods of time, creating a poor user experience.

Scalability on the Astar Network is addressing the followings topics:

• More Transaction Per Second (TPS)
• Cheaper transaction cost
• Faster finality

Interoperability

Many different blockchains exist but few have interoperability as a feature. To move “value” from Bitcoin to Ethereum, we need a centralized exchange. Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.

Astar Network is compatible with Polkadot. By connecting Astar Network to Polkadot, we will have true interoperability.

Core Features

The Astar Network has three additional features in addition to the existing Substrate modules:

• Operator Trading

This is enhanced smart contract owner management which allows the tokenization of contracts and transfer of contract ownership.

• dApps Rewards

This is the reward system for dApps (including Astar Applications) developers

• Multi-Lockdrop

Lockdrop is a method for distributing tokens. Participants lock tokens from other blockchains (DOT, KSM, or ETH) for a certain duration. Native tokens are then distributed to participants and the opportunity cost that comes is taken as collateral. Repeat this multiple times to distribute the native token with value to a massive number of token holders

Token ASTR

Token Usage

Astar token is the utility token of Astar Network that serves major roles:

• Transaction: For every on-chain transaction fees will be paid using an Astar token

• On-Chain Governance: ASTR token is used for facilitating the governance activities such as voting and referenda

• Staking: ASTR token holders can stake ASTR tokens on dApp as well as network. By doing so, the staker can earn ASTR tokens

• Layer2: Astar Network is a layer1 platform that supports layer2 implementations. Layer2 application developers make a deposit on their layer1 smart contract and create layer2 applications.

Key metrics:

• Token Name: Astar.
• Ticker: ASTR.
• Blockchain: Ethereum.
• Token Type: Utility Token.
• Token Standard: ERC20.
• Circulating Supply: 3.31B ASTR
• Total Supply: 7B ASTR
• Contract: 0x514910771af9ca656af840dff83e8264ecf986ca

Token Allocation:

Roadmap:

Investors and partners:

Conclude

With many outstanding features of Astar Network, the Astar Network project is likened to the heart of Polkadot’s ecosystem. Currently, the project is only at the point of developing the ecosystem, the products in the ecosystem are still being built. Therefore, the project will continue to grow strongly when the products are more complete.

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