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Astar Network, formerly known as Plasm Network, is a blockchain platform that aims to provide a scalable, cross-layer and cross-machine protocol for the development of decentralized applications (dApps). Astar supports Ethereum Virtual Machine (EVM), Substrate, WebAssembly (Wasm) and ink! environments, allowing developers to use the tools and languages they are familiar with. Astar also offers a unique incentive mechanism called Build2Earn, which rewards developers for creating and deploying dApps on the network.

What is Astar Network and why is it important?

Astar Network is a parachain candidate on Polkadot, a multichain network that connects different blockchains and enables interoperability, scalability and security. Astar Network leverages Polkadot’s shared security and relay chain to provide a robust and flexible platform for dApp development. Astar Network also connects to other blockchains, such as Ethereum, Cosmos and more, through bridges, allowing for the free flow of assets and information between multiple ecosystems.

Astar Network is important because it unlocks the potential of blockchain technology for the mass adoption of web3, the decentralized and open web. By supporting both EVM and Wasm environments, Astar Network enables developers to use the most popular and widely used smart contract frameworks, such as Solidity, Rust, C++ and more. Astar Network also supports layer 2 solutions, such as Optimism and Arbitrum, which improve the scalability and performance of dApps. Furthermore, Astar Network introduces a novel concept of dApp staking, which allows users to stake their tokens on dApps and earn rewards, while also supporting the developers and the network.

How does Astar Network work and what are its features?

Astar Network works by providing a multichain smart contract platform that can host and run various dApps with different requirements and functionalities. Astar Network has two main components: Shiden and Astar. Shiden is the canary network of Astar, which means it is a testnet that serves as a sandbox for experimentation and innovation. Astar is the main network of Astar, which means it is the production-ready network that hosts the official and verified dApps.

Astar Network has several features that make it stand out from other blockchain platforms. Some of these features are:

• Build2Earn: Astar Network pioneered the Build2Earn mechanism, which is a basic income for developers. Build2Earn rewards developers for building and deploying dApps on the network, based on the number of users and transactions they generate. Developers can receive ASTR tokens, the native currency of Astar Network, through dApp staking, which also incentivizes users to support the dApps and the network.
• Multichain-native: Astar Network supports both EVM and Wasm environments, which means it can run dApps written in various languages and frameworks, such as Solidity, Rust, C++, ink! and more. Astar Network also supports layer 2 solutions, such as Optimism and Arbitrum, which enhance the scalability and performance of dApps. Moreover, Astar Network connects to other blockchains, such as Ethereum, Cosmos and more, through bridges, which enable the interoperability and cross-chain communication of dApps.
• Web2 + Web3: Astar Network supports tools and languages that software developers often work with already, such as JavaScript, TypeScript, React, Vue and more. Astar Network also provides a user-friendly interface for dApp development and deployment, such as Astar Portal, Astar Studio and Astar SDK. Astar Network aims to lower the barriers for developers and users to enter the web3 space, by providing a familiar and accessible platform.

What are the challenges and opportunities for Astar Network in today’s marketplace?

Astar Network faces several challenges and opportunities in today’s marketplace, as it competes and cooperates with other blockchain platforms and projects. Some of these challenges and opportunities are:

• Parachain auction: Astar Network is a parachain candidate on Polkadot, which means it needs to secure a slot on the relay chain by winning a parachain auction. A parachain auction is a process where projects bid their tokens to lease a slot for a certain period of time. Astar Network has already won a parachain slot on Kusama, Polkadot’s canary network, through its Shiden network. Astar Network plans to participate in the upcoming parachain auctions on Polkadot, which are expected to start in early 2024. Winning a parachain slot on Polkadot will be a major milestone for Astar Network, as it will increase its visibility, credibility and adoption in the blockchain space.
• Market competition: Astar Network is not the only blockchain platform that offers multichain smart contracts and interoperability. There are other projects, such as Moonbeam, Edgeware, Acala and more, that have similar or overlapping features and goals. Astar Network needs to differentiate itself from its competitors, by highlighting its unique value proposition and advantages, such as its Build2Earn mechanism, its user-friendly interface, its support for layer 2 solutions and more. Astar Network also needs to collaborate with its competitors, by forming partnerships, alliances and integrations, to create a win-win situation for the whole blockchain ecosystem.
• Market adoption: Astar Network has a vision to unlock the potential of blockchain technology for the mass adoption of web3. However, achieving this vision is not easy, as there are still many challenges and barriers that hinder the growth and development of the web3 space, such as scalability, usability, security, regulation and more. Astar Network needs to overcome these challenges and barriers, by providing a scalable, cross-layer and cross-machine protocol that can support various dApps with different requirements and functionalities. Astar Network also needs to educate and empower developers and users, by providing them with the tools and resources they need to build and use dApps on the network.