Astar Token Price

Astar Token (ASTR) is the native utility token of the Astar Network, a multi-chain smart contract platform built on Polkadot that enables developers to build decentralized applications (dApps). Currently ranked #265 with a price of $0.02122, ASTR has seen a -9.11% change in the last 24 hours. The token has a market cap of $171.86M with a circulating supply of 8.09B ASTR out of a total supply of 8.43B ASTR. Astar Token serves multiple functions within the ecosystem, including transaction fees, staking for network security, governance voting, and supporting the dApp staking mechanism that rewards developers. As a layer-1 solution with layer-2 capabilities, Astar Network aims to provide interoperability between Polkadot, Ethereum, and other blockchain ecosystems while offering scalable infrastructure for Web3 applications.

Astar Token was created on October 19, 2021, when it was first listed on cryptocurrency markets. The project initially started under the name 'Plasm Network' before rebranding to Astar Token in September 2021. The Astar Token mainnet was officially launched on January 17, 2022, marking its full operational debut as a smart contract platform on the Polkadot ecosystem. Since then, Astar Token has established itself as a multi-chain smart contract platform supporting various blockchain applications.

Astar Token was founded by Sota Watanabe, who serves as the CEO and visionary behind the Astar Network. The project was established to create a multi-chain smart contract platform that supports both Ethereum Virtual Machine (EVM) and WebAssembly (WASM), enabling developers to build dApps with various programming languages. Sony has also been involved with the project, particularly through its connection with Soneium, the platform on which ASTR operates. The Astar Network aims to provide scalable infrastructure for Web3 applications while maintaining interoperability with the Polkadot ecosystem.

Astar Token operates as the native cryptocurrency of the Astar Network, which functions as a multi-chain smart contract platform within the Polkadot ecosystem. Currently ranked #265 with a price of $0.02122, ASTR serves multiple essential functions: 1. Transaction Fees: Used to pay for operations on the network 2. Staking: Holders can stake tokens to secure the network and earn rewards 3. Governance: Token holders can vote on protocol upgrades and changes 4. dApp Staking: A unique feature allowing users to stake tokens to support developers The Astar Network employs a dual virtual machine system supporting both EVM and WASM, enabling developers to build applications using various programming languages. With a current market cap of $171.86M and 24-hour trading volume of $364.84K, ASTR facilitates the network's goal of becoming the premier smart contract hub for Polkadot's interoperable blockchain ecosystem.

Astar Token operates on a multi-layer technical architecture built on Polkadot's parachain technology. At its core, ASTR uses a hybrid consensus mechanism combining Nominated Proof-of-Stake (NPoS) for security and Proof-of-Authority for transaction validation. The network features three key technical components: 1. dApp Staking - A unique mechanism allowing developers to earn rewards based on their dApp usage 2. Cross-Virtual Machine (XVM) - Enables interoperability between EVM, WebAssembly, and other VMs 3. Layer 2 Solutions - Incorporates ZK-rollups for scalability Astar Token's architecture supports both Ethereum Virtual Machine (EVM) and WebAssembly (WASM) environments, allowing developers to build using Solidity or ink! programming languages. This multi-VM approach provides flexibility while maintaining cross-chain compatibility with Polkadot's ecosystem through XCMP (Cross-Chain Message Passing) protocol. The network achieves approximately 1,000 transactions per second with 12-second block times, making it suitable for DeFi applications, NFTs, and Web3 infrastructure.

Astar Token has a promising future with a clear roadmap focused on expanding its multi-chain ecosystem. As a leading project in the Polkadot ecosystem, Astar Token aims to enhance its smart contract platform and improve interoperability between blockchains by 2025-2026. The development team is working on scaling solutions, including Layer 2 rollups and modular blockchain architecture to increase transaction throughput and reduce fees. By 2027, Astar Token plans to expand its DApp ecosystem and strengthen partnerships with major Web3 projects. Long-term goals include advanced governance mechanisms, enhanced staking rewards, and becoming a central hub for cross-chain development by 2030. With current price at $0.02122 and market cap at $171.86M, Astar Token shows potential for growth as it continues to innovate in the smart contract space.