Key Takeaways
Astar Network supports multiple programming languages and virtual machines, simplifying the creation and deployment of decentralized applications (DApps).
The recent launch of Astar's Layer 2 zkEVM, built with Polygon technology, enhances blockchain scalability and privacy, attracting companies like Japan Airlines and Mazda.
Astar's DApp staking system rewards developers based on their DApps' performance, promoting innovation and growth within the network.
Introduction
Blockchain developers often struggle to find a network that can offer flexibility, interoperability, and robust security. Astar Network addresses this problem by providing a decentralized platform that supports multiple virtual machines and programming languages, enabling seamless development and deployment of decentralized applications (DApps) both on the Polkadot and Ethereum ecosystems.
What Is Astar Network?
Astar Network is a multi-chain smart contract platform that allows developers to create and interact with DApps using various programming languages and frameworks, enhancing the flexibility and interoperability of blockchain applications. Its primary mission is to offer a scalable and secure infrastructure for the next generation of DApps, making it easier for developers to build and deploy applications with minimal friction.
How Does It Work?
Astar Network operates as both a Layer 1 and Layer 2 solution to enhance blockchain interoperability and scalability. Astar’s Layer 1 is secured by the Polkadot relay chain, which uses a Nominated Proof-of-Stake (NPoS) consensus algorithm to ensure security and decentralization. Astar's Layer 2 zkEVM, built with Polygon CDK technology, allows for the efficient execution of Ethereum-compatible smart contracts using zero-knowledge proofs (ZKPs), enhancing performance and privacy.
What Makes Astar Network Unique?
Astar Network stands out with its dual ecosystems, offering a Layer 1 secured by Polkadot’s NPoS and a Layer 2 zkEVM built with Polygon CDK technology. This setup allows developers to use multiple virtual machines, including the Ethereum Virtual Machine (EVM) and WebAssembly (Wasm), enabling them to deploy smart contracts written in popular languages like Solidity and Rust. The Layer 2 zkEVM enhances scalability and privacy through ZKPs, ensuring the efficient execution of Ethereum-compatible smart contracts.
Key advantages of Astar Network include its flexibility and interoperability, which simplify the development and deployment of DApps. By supporting cross-chain interactions and providing a secure, high-performance environment, Astar addresses problems like scalability, security, and developer accessibility.
What Is the ASTR Token?
ASTR is the native token of the Astar Network. It is used for a variety of purposes within the network, such as transaction fees (gas), staking, governance, and incentivization.
Staking
Users can stake their ASTR tokens to participate in the DApp staking system. By
locking up their ASTR tokens, they can earn rewards in ASTR while supporting their favorite projects, builders, and the overall ecosystem.
Builders can use these rewards to pay for development fees, build a community treasury, or fund other initiatives that will help them develop a sustainable business model. There are no limitations to how teams can use their ASTR rewards.
Governance
ASTR tokens are essential for the governance of the Astar Network. Token holders can use their ASTR to vote on important proposals and decisions that affect the future development and direction of the platform. Proposals may include changes to protocol parameters, the introduction of new features, or modifications to existing ones.
Ecosystem incentives
ASTR tokens also serve as an incentive mechanism for developers and users within the
Astar network. For example:
Developers are incentivized to build DApps using the DApp staking system.
Collaborators receive ASTR rewards for collecting on-chain transactions from users to create state transition proofs for validators.
Stakers can receive rewards by locking their tokens on the Astar Portal or through Binance staking.
ASTR Tokenomics
Details:
Token ticker: $ASTR
Total initial supply: 7,000,000,000
Token decimals: 18
Inflation: ~665,000,000 yearly
Allocation:
30% for Users and Early Supporters
20% for Parachain Auction in 2021
5% for Parachain Auction Reserve (Update: Community voted to burn this 5% allocation)
10% for Protocol Development
5% for On-Chain DAO
5% for Marketing
5% for Team (Employee Incentives)
10% for Early Financial Backers
10% for Foundation
