Author name: @nobumei (https://twitter.com/nobu_mei)
<aside> đź’ˇ This page features Astar Network, a Web 3.0 project from Japan.
</aside>
Although this project should be handled in the Blockchain Interoperability layer, they are working hard in this layer to become the eye of the typhoon of Web 3.0, aiming to become a DAO from Japan. As a Japanese, I feel compelled to support this project, so I would like to take this opportunity to introduce it to you.
Astar Network
Astar Network ("Astar") is a Layer 1 blockchain that aims to become “The Future of Smart Contracts for Multichain”, of which Japanese Sota Watanabe is the Founder. Polkadot is a project that is taking a strategy of "connecting a large main chain with multifunctional sub-chains" to solve blockchain interoperability issues.
Since Polkadot focuses on "connecting" blockchains, it does not support smart contracts by design, and dApps cannot be built directly on Polkadot.
Even if Polkadot connects various blockchains, no one will use it if there is no application that runs on it, and Astar is trying to play that role.
To use an analogy, Polkadot is like a link between the Rakuten and LINE economies, and Astar provides the "tools for creating services" within those economies.
Astar supports Ethereum Virtual Machine (EVM) and WebAssembly (WASM), making it easy for Ethereum and Web App developers to develop applications. It may be easy for non-programmers to imagine that different "development languages" for programming make it more expensive and difficult to learn before creating an application.
In addition, Astar implements a mechanism called dApps Staking, which allows developers who build dApps on Astar to benefit from "Build to Earn".
An infographic on DApp staking. Source: learn.bybit.com
In the Astar Network, a portion of the block generation reward is allocated to dApps developers, similar to Bitocin mining rewards. This allows developers to receive rewards before their products are completed and monetized, thus stabilizing their livelihood and allowing them to focus on development. This is a great service for developers, as they would normally not be able to monetize their services until they are completed.
Astar supports WASM in addition to Etherum's EVM as a feature of its structure, which makes it easier for developers to enter the market.
This mechanism can also be used by non-developers, who can staking projects they think are good from the list of dApps Staking pages on Astar. In short, it is support staking. You can receive the $ASTR earned from your contribution as APY from the dApps you staked, so you don't have to be a developer to benefit from this.
Astar was just officially launched in January 2022, but already has a market capitalization of over $2 billion. When a company's market capitalization exceeds $1 billion, it is said to be a unicorn company, but it is already the equivalent of two unicorns.