Thread by @Altcoin_Gold

$ASTR 🧵 Are you bullish on Asian #crypto adoption? If so you may want to learn about @AstarNetwork Japans favourite chain.

Check below for a quick to read and easy to understand overview. Let's get learning! 👇

Introduction -

Astar Network, stands out as a leader in Japan's crypto market. Despite the country's strict listing regulations, $ASTR has cemented itself as the most popular L1 in Japan.

This is a remarkable achievement, further solidified by the fact that the Astar Network is officially registered as a cryptocurrency and not a security in the country.

The Astar Network's success in Japan is not limited to just its popularity in the market. The project is also working closely with the Japanese government, a testament to its credibility and potential.

With such a strong track record, it's no surprise that the Astar Network was awarded "product of the year" in Japan. But what exactly is this cryptocurrency all about, and what makes it so appealing to the Japanese market? Let's find out! 👇

Introducing the Astar Network: A Next-Gen Smart Contract Platform

Astar Network is a cutting-edge smart contract platform that is designed to support the building of dApps across multiple chains. With its support for EVM and WASM smart contracts, Astar offers developers true interoperability, with cross-consensus messaging (XCM).

As a platform built by developers, for developers, Astar's unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for the code they write and dApps they build.

One of the key advantages of Astar Network is its focus on making the best smart contract platform for dApps developers on Polkadot.

With Astar, developers can build whatever applications they want without having to worry about infrastructure and scalability, allowing them to focus on their dApp.

This is fantastic, in an ever expanding multichain landscape, Interoperability is what's needed.

Astar Network addresses the following prominent issues: scalability, interoperability, and lack of developer incentive.

Scalability -

One of the most significant challenges faced by blockchains is scalability. By design, blockchains do not scale as well as centralized databases.

The TPS (Transaction Per Second) is much smaller than a centralized database, and there is an upper limit of data that can be stored in every block.

As a result, users across the network may notice their transactions sitting unconfirmed or pending for long periods, creating a poor user experience.

Astar Network is addressing this issue by focusing on:

• More TPS
• Cheaper transaction cost
• Faster finality

Interoperability -

Interoperability is a feature that is lacking in many different blockchains. To move "value" from Bitcoin to Ethereum, we need a centralized exchange. Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.

Astar Network is compatible with Polkadot, which allows for true interoperability. By connecting Astar Network to Polkadot, developers can move value between different blockchains seamlessly.

Lack of Developer Incentive -

DApp developers are the most critical human resource in the blockchain industry, but they are paying a lot of costs to develop dApps or infrastructure projects.

Astar has a #Build2Earn protocol that allows developers to earn a basic income while making products.

The $ASTR token -

Astar Token is the utility token for Astar Network that has 3 primary functions:

- dApp Staking
- Transactions
- On-chain Governance

dApps Staking -

dApps Staking is an original scheme that Astar Network's core team invented, and only the Astar ecosystem supports this feature in the Polkadot ecosystem. Astar Network aims to be the leading dApps hub on Polkadot Network.

Hence, they prepared incentives for dApps developers to make smart contracts on Astar Network.

dApps Staking is a simple but powerful mechanism. Astar token holders can stake Astar tokens on dApps they like and want to support. By doing so, the staker earns Astar tokens from block rewards. Additionally, dApps developers get rewards based on the amount staked on them.

In general, application developers on Astar Network receive Astar tokens by making smart contracts or infrastructure for the Astar Network community. The intention is to make it a sustainable and decentralized grant mechanism.

Transactions -

Every on-chain transaction requires the sender to pay fees. Part of the fee is burned and part is deposited to the collator.

On-Chain Governance -

In the realm of blockchain technology, on-chain governance is a vital feature that allows for a truly decentralized decision-making process.

Astar Network embraces this concept by giving its token holders the power to shape the direction and development of the network through voting and referenda using the Astar token.

This creates a community-driven ecosystem where the needs and wants of users are always taken into account.

Ecosystem - Astar is already home to a huge selection of projects. See link below to explore these:

Top Astar Dapps | DappRadar dappradar.com/rankings/proto…

Tokenomics -
7.7B TS
4B CS
223M MC at time of writing

Inflation - Astar Network had an initial total token supply of 7,000,000,000 and an annual inflation rate of 10%. This inflation rate is used as an incentive for participation in the network, such as staking and on-chain governance.

It also ensures that the network has the necessary funds for development and growth.

While 10% seems a lot, if you're staking you are not really affected.

Conclusion -

Astar Network is a smart contract platform that aims to tackle the challenges of scalability, interoperability, and developer incentive.

Built on Polkadot, it offers true interoperability and a unique Build2Earn model that rewards developers for their contributions to the network.

The Astar Network project as a whole is an ambitious and highly promising endeavor, offering the potential to fundamentally change the way we create and utilize decentralized applications.

Useful links -
Twitter - @AstarNetwork
Website - astar.network
Docs - docs.astar.network

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https://twitter.com/Altcoin_Gold/status/1619017274291294209?s=20&t=trfU0VpViv4JknhuDn-X-A