About Astar (ASTR)
Astar Network is a Polkadot-based multi-chain, multi-VM Smart contract platform that natively supports EVMs, WebAssembly, Layer2 scaling solutions, and mainstream Layer1 blockchains. Polkadot relay chains are not designed to support smart contracts, so dApp developers need a para chain with high performance and scalability.
Astar's reported focus is to provide a scalable, interoperable, decentralized application platform allowing developers to build interoperable smart contracts on the Polkadot ecosystem. The Astar platform is powered by the $ASTR token. The current price of ASTR is live-tracked on Binance.
The project's scope and user base have significantly expanded since its inception, with reports indicating continued expansion in the Web3.0 space. Given its technical capabilities and financial incentives, such as through its incubation and #Build2Earn initiatives, Astar acknowledges that the network should also reward developers that facilitate the development of the ecosystem. Therefore, on the Astar blockchain, dApp developers will receive 25% of the total block reward for every token nominated by users.
At the time of writing, the Astar Network ecosystem is reportedly sufficient for basic DeFi dApps such as exchanges, tokens, lending, and borrowing. Multiple teams are building decentralized applications, including synthetic assets, stablecoins, multi-chain DEX, and more.
The project's governance will gradually decentralize, eventually evolving into a DAO with direct on-chain voting.