Astar Network is a layer that helps connect multi-chain decentralized applications to Polkadot, using solutions such as Ethereum Virtual Machine, WebAssembly and Layer 2. The platform supports various decentralized applications such as DeFi, NFTs and DAOs. This will help project developers on Polkadot to fully focus on building decentralized applications (DeFi Dapps) . Shiden Network is a "sister" network of Astar Network and also a Dapp hub on Kusama.
In addition, from December 17, 2021 to October 20, 2023, Astar Network can be considered a parachain on Polkadot when the project won the parachain auction event on Kusama, with a total raised capital of 10,333 .552 DOT (equivalent to 269,085,695 USD). Therefore, the project now has security features inherited from the Relay Chain chain, and can connect with other parachains on Polkadot.
Astar (formerly Plasm) is a library of Substrate Runtime modules that allow developers to add Plasma functionality to their Substrate chain. By adding the Astar library, developers can create scalable blockchains within minutes.
Besides being a project that really supports Gavin Woods' vision, as well as building on Substrate from the very beginning. Astar received the most Web 3.0 grants in the Polkadot ecosystem with a total of 7 grants. Astar and all other projects in the Polkadot ecosystem are building the future Web 3.0 infrastructure .
Some readers may not know much about the Substrate Runtime's library of modules. Basically, Substrate includes 2 components: Substrate Core and Substrate Runtime Module Library (also known as SRML). Developers can customize Substrate Core with SRML and generate an original Substrate sequence. Meanwhile, Plasma technology is a Layer 2 scaling solution. This technology makes the algorithms scalable by structuring economic incentives, in order to operate the blockchain autonomously without needing to be. under the control of any operating unit. Under the most ideal conditions, it can bring infinite scalability to any blockchain.
Compatibility with Ethereum and Cosmos blockchains
Astar Network supports both WASM (WebAssembly) programming language and EVM virtual machine system. So developers can deploy Ethereum and Cosmos pre-existing smart contracts on Polkadot without reprogramming.
Multi-Chain Support
This technology helps projects connected to Astar Network to reach many investors from different ecosystems.
Various decentralized applications for staking
Users can earn more ASTR tokens using decentralized applications for staking on ecosystems like PolkaDot, Kusama, Ethereum and Cosmos.
Fast transaction speed with low cost
Astar Network provides scalability for DeFi Dapps and supports Layer 2 solutions such as Rollup. This not only improves transaction processing speed on the Ethereum, Cosmos and Polkadot blockchains, but also reduces the cost per transaction.
The project was developed by Sota Watanabe, Masaharu Uno and several engineers with many years of experience in the field of blockchain technology such as Takumi Yamasshita and Task Ohmori.
Astar Network's development roadmap in 2022:
Quarter 1 – 2022
Quarter 2 – 2022
Quarter 3 – 2022
Quarter 4 – 2022
Astar Network has raised a total of more than 271 million USD in funding through 2 rounds of Series A and crowdloan. Investors in this project include Binance Labs, Hypershere, Fenbushi Capital, Hashkey Capital, Huobi Ventures, DFG Ventures, KR1 Ventures. OKEx Blockdream Ventures, LongHash Ventures, gumi Cryptos, Subo Capital, Digital Strategies, Altonomy, AU21 Capital, TRG Capital, PAKA Ventures, SNZ Ventures, East Ventures and IOSG Ventures.
ASTR is the utility and governance token of Astar Network. Basic information of ASTR:
ASTR token allocation ratio:
In particular, the policies for the participants of the last crowdloan:
Since the ASTR token is both a utility token and a governance token of Astar Network, it has the following functions:
Currently, the ASTR token has been listed on cryptocurrency exchanges such as Huobi Global, OKEx and Gate.io, with the price currently hovering at 0.275454 USD/token and the trading volume in the last 24 hours is $53,552,274 USD (January 17, 2022).
Stake Technologies, the company behind Plasm Network and Shiden Network, has raised $10 million in a funding round led by Fenbushi Capital.
A long list of investors also participated in the round, including: Hypersphere Ventures, AU21 Capital, Digital Strategy and others. The round also featured a number of notable angel investors, including Nobuyuki Idei, a former Sony executive and chairman.
Stake Technologies will use funding in parachain auctions to help Astar Network win slots on Polkadot and its “sister” network on Kusama.
To kickstart the ecosystem development, on September 6, 2021, the development team announced the launch of the $30 million Astar/Shiden Ecosystem Growth Fund.
The Ecosystem Growth Fund is intended to be used for the following purposes:
Currently, Astar Network is the third largest crowdfunded project, with over 18,000 contributors locking their DOT in favor of the ASTR token. It proves that Astar Network has a strong and supportive community that will kickstart the platform and propel it into a thriving network.
In addition, Binance Labs invested projects will often be listed on Binance Exchange – one of the largest CEX in the world. This is a potential opportunity for the project to grow as well as the token price may increase.
Astar Network is an interoperable blockchain, built on the Substrate framework and is the hub for Dapps in the Polkadot ecosystem. With Astar Network and Shiden Network, investors can stake their tokens into smart contracts to reward projects that provide value to the network.
Detailed information about the Astar Network project can be viewed at the following media channels:
Website | Project Information | Twitter | Telegram | Medium | GitHub | Discord
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