What is Astar Network (ASTR)? Comprehensive Guide for Beginners

In the midst of the rapid development of blockchain technology, Astar Network (ASTR) is a platform that is here to revolutionize decentralized applications (dApp) and smart contracts. With its innovative approach and multichain concept, Astar not only offers interoperability between blockchains, but also paves the way for developers to create more sophisticated, efficient and accessible dApps. Let's explore what Astar Network (ASTR) is, how this platform is changing the blockchain landscape and what makes it a promising platform in the future of decentralized technology in this article. 

Highlights

• Astar Network is a multichain platform that aims to be "the future of smart contracts" and provides solutions for interoperability between various blockchains.
• The ASTR token is the native utility token of the Astar Network and serves as a unit of value and means of exchange within the network. 
• As of January 4 2023, the price of 1 ASTR to IDR today is IDR 2,679 with a total market cap of IDR 14.68 trillion and daily trading volume of IDR 2.8 trillion. Currently the ASTR token occupies the 69th position globally based on the Coinmarketcap site.

What is Astar Network (ASTR)

Astar Network is a blockchain platform designed to support the creation and implementation of decentralized applications ( dApps ) and smart contracts .

As a multichain platform, Astar aims to integrate various blockchains to create a more connected and efficient ecosystem. This allows developers to leverage features and resources from multiple blockchain networks in a single dApp.

Who is the Founder of Astar Network

The founder of Astar Network is Sota Watanabe. Sota Watanabe is a well-known figure in the blockchain world and has made significant contributions to the development and growth of Astar Network. 

With his background and expertise in the blockchain field , Watanabe directs Astar Network to become a platform that focuses on innovation in creating dApps and smart contracts, as well as advancing interoperability between various blockchains.

How it Works and Features

The way Astar Network works focuses on the concept of interoperability. By supporting various programming languages ​​for smart contracts, Astar facilitates the creation of dApps that can operate across blockchains. The platform also offers various tools and services to help developers in creating effective dApps. 

To achieve this, Astar has built a two-layer mechanism. The first layer (called the base layer) is a layer one blockchain built using the Substrate blockchain framework. The second layer is a scaling solution created using the Optimistic Virtual Machine (OVM) created by Plasma Group.

Astar allows developers to use OVM modules to customize their scalability designs. Then, developers can connect their application layers to the Astar base layer using Plasma or ZK rollups. The layer two solution in Astar stores data and performs state transitions in the Astar base layer.

There are two core features in the Astar network, namely:

• Developer Rewards and dApp Staking. The Astar Network offers a rewards system for app developers, with almost 50% of staking rewards going to them. Users also have the option to stake on their favorite decentralized applications and earn rewards.
• Trading Operators. This feature allows operators to earn rewards and the creation of off-chain markets.

Tokenomics and Use of Tokens

ASTR is the native token of Astar Network. The three main functions of the ASTR token include:

• dApp staking: Astar token holders can stake their favorite dApps, supporting the growth of the ecosystem while earning rewards. dApp developers also earn rewards based on the staking their apps receive, encouraging the creation of smart contracts and infrastructure that is useful for the Astar Network community. 
• Transactions: For every transaction made on the network, the sender must pay a fee. A portion of these fees is burned to control inflation, while the remainder is deposited with the collator, which helps in processing transactions. 
• On-Chain Governance: The Astar Network adopts on-chain governance, providing every member of the community the opportunity to participate in decisions that affect the network, including voting and referenda, by using Astar tokens.

This token is created in unlimited quantities. Based on data from the Coinmarketcap site, the supply of tokens in circulation to date (as of January 2024) is recorded at 5.48 billion ASTR. Meanwhile, referring to the same site as of January 4 2023, the price of 1 ASTR to IDR today is IDR 2,679 with a total market cap recorded at IDR 14.68 trillion and daily trading volume of IDR 2.8 trillion. Currently the ASTR token occupies the 69th position globally based on its market cap. 

Conclusion

Overall, Astar is an ambitious project that aims to solve the scalability and interoperability challenges facing the blockchain industry. By providing a powerful and efficient dApp hub, Astar hopes to attract developers and users and become a major player in the growing world of decentralized applications.

How to Buy ASTR Tokens on Bittime

You can buy and sell ASTR tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. This token is available on Bittime with ASTR IDR pairing.

To be able to buy ASTR/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make ASTR purchases in the application. More Complete Guide How to Buy ASTR on Bittime

Monitor price chart movements of Astar Network (ASTR), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime. 

DISCLAIMER : This article is informational in nature and is not advice, recommendation, offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time. Bittime is not responsible for changes in exchange rates or crypto asset prices.