What Is Astar (ASTR)?
Previously known as Plasma, Astar Network (ASTR) is an exchangeable and scalable infrastructure for Web3 technology. Scalability is one of the essential demands dApp creators have. Ideally, the creators can create whatever applications on the Astar Network without considering its scalability. Astar Network aims to deliver an exchangeable, scalable, and decentralized application forum that describes and recognizes the unique web form of Web3.
The Astar Network claims to have unique features like operator trading. According to the platform, this unique feature improves governance and permits the transfer of contract ownership and the tokenization of contracts. Another feature is dApps rewards, a reward technique for dApps developers. This monetization model is blockchain-specific for Web3 and perhaps even for the next generation. Lastly, the platform offers Multi-Lockdrop, a strategy for distributing tokens. Partakers lock tokens from different blockchains (KSM, DOT, or ETH) for a particular duration. The native tokens are then allocated to participants, and the opportunity price that comes is kept as collateral. It is repeated numerous times to disperse the native token with significance to a large number of token holders.
As per the website, Blockchains don't scale by design due to the decentralized consensus tool. Transaction per second is much less than a centralized database, and there is an upper boundary of data stored in every block. Hence, traders across the network may witness that their transactions stay pending or unconfirmed for a long time, making for a bad user experience. The Astar platform aims to offer more Transaction Per Second (TPS), cheaper transaction costs, and faster finality to solve these issues.
ASTR token is native to the Astar Network. The token is utilized to promote governance actions such as referenda and voting. The token holders can stake the ASTR tokens on the platform’s dApps and within the ecosystem. By doing this process, stakers can gain ASTR tokens.
History of Astar (ASTR)
In June 2021, the Astar platform rebranded itself (from Plasma) by expanding its vision. The Astar platform has a total token supply of 7 billion tokens.
