Astar (ASTR)

The Astar Network was founded in 2019 by Sota Watanabe, a blockchain pioneer who graduated in economics from Keio University in Japan. The Astar Network was initially established under the name Plasm Network until Watanabe changed the name to Astar in 2021, launching the project as a multi-chain smart contract platform. Astar Network aims to facilitate interoperability between different blockchain networks. The protocol utilizes a "bridge" technology that enables secure token and data exchange between various blockchains, including both public and private blockchains. One of the key features of Astar Network is scalability. The protocol employs a sharding mechanism, distributing the total network workload across multiple subnetworks. This allows the network to maintain higher throughput capacity even as the number of users and transactions increases. The project also places a strong emphasis on security and aims to provide a robust infrastructure for executing smart contracts and processing transactions. It utilizes various security mechanisms such as the proof-of-stake (PoS) consensus mechanism and the parachain model to ensure network integrity and reliability. The Astar Network ecosystem is supported by the native ASTR token, which is used for various purposes such as paying transaction fees, incentivizing network participants, and facilitating governance functionalities.