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What’s ASTR (ASTR)?
Astar Network, formerly known as Plasma, is a decentralized application platform that supports the Ethereum Virtual Machine (EVM) and WebAssembly, making it interoperable with various Layer-1 and Layer-2 blockchain networks. Deployed as a Polkadot parachain, Astar Network benefits from the Relaychain's security while enabling smart contract functionality at scale.
The network's native token, ASTR, is used for transaction fees, staking, and on-chain governance actions like voting. Astar Network supports decentralized finance apps, nonfungible tokens and decentralized autonomous organizations.
Users staking ASTR can nominate applications to receive a share of block rewards, creating a powerful incentive for developers to deploy applications on the network. Notable investors in the Astar Network include Hypersphere, Fenbushi Capital, HashKey Capital and Blockdream Ventures.