What is Astar (ASTR)?

Astar Network (ASTR), is a blockchain platform designed to develop Web3 applications and support multichain ( integration. Built on the Polkadot network, Astar offers developers the opportunity to develop dApps )decentralized applications( in both Ethereum Virtual Machine )EVM( and WebAssembly )WASM( environments. This ensures compatibility with both existing and future blockchain architectures.

Who is the founder of Astar Network?

The founder and CEO of Astar Network is Sota Watanabe. Born in 1995, Watanabe is one of Japan’s leading entrepreneurs and is recognized as an important figure in the blockchain space. He established Astar Network in 2019 under the name “Plasm Network” and later rebranded the project to “Astar Network” in 2021. He is also the CEO of Stake Technologies and the founder of Shiden Network.

Key Features of Astar Network

• 1. EVM and WASM support: Astar provides developers with the ability to write smart contracts on both Ethereum-compatible EVM and the faster and more efficient WASM infrastructure. This dual structure appeals to a broader developer audience.
• 2. Polkadot Parachain structure: Astar is one of the parachains of Polkadot. This allows Astar to benefit from Polkadot’s security, scalability, and features such as the inter-chain messaging protocol )XCMP(.
• 3. dApp Staking )Application Staking(: Astar offers a unique staking model that directly rewards developers. Users can stake their ASTR tokens not only to network validators but also to the dApps they like. This way, both users and developers are incentivized.
• 4. Interoperability )Interoperability(: Astar, which is compatible with Ethereum, Polkadot, and other networks, serves as a bridge for application development and data sharing across multiple chains.

Where is the ASTR Token used?

ASTR is the native token of the Astar Network and has many important functions:

• Transaction Fees: Used as gas fees for transactions and smart contract executions on the Astar network.
• Staking and rewards: Users can earn rewards by staking ASTR and support dApps.
• On-chain governance: ASTR holders can vote on network updates and protocol decisions.
• Developer incentives: Grants given for the growth of the ecosystem and rewards distributed to developers through dApp staking.

This article does not contain investment advice or recommendations. Every investment and trading move carries risk, and readers should conduct their own research when making decisions.