Astar [ASTR] Explained Simply For Beginners

Astar [ASTR] Explained Simply For Beginners

is the cryptocurrency AAR Japan’s ethereum well this video is going to get you up to speed with what the Asar cryptocurrency project is all about whether it is actually worth the hype that people are putting on it right now and if you’re new to the crypto Market if you’re simply new to the a star token then the intent of this video is to make it super simple for you to understand what the heck a star actually is so make sure you stick around to the end of the video as well to find out the potential threats that could kill the entire project seriously to the end but before we dive in I have to give you this very important and quick disclaimer no one has paid us to make this review the information that you will find in this video is provided for free to you for educational purposes this is not a recommendation for you to run out into buy or to sell or to even hold the cryptocurrency that we are discussing today okay furthermore investing in crypto is risky you can lose all your money very quickly okay keep that in mind you’ll find a full risk statement as well as my full portfolio disclosures all the coins I’m currently holding all my Venture Investments Etc in the description here on YouTube or the pinned comment on X so check it out if you want to understand all that stuff all that stuff out of the way let’s get started what is a star a star is Japan’s first public blockchain it’s a layer one network built within the polka dot ecosystem and founded by the Japanese tech company STAR taale labs in 2019 a star’s original goal was to focus on developing a layer 2 blockchain Network to scale polka dot more on that in a minute but instead it has become a popular smart contract platform in Japan in of itself a star has even won product of the Year by Japan’s blockchain Association in 2022 so that’s pretty cool its founder was also named person of the year for the second year in a row cool a star’s goal now is to connect people to web 3 through entertainment and blockchain development and business development and community events and all the kind of usual web 3 blockchain stuff that you want to see happening basically star originally launched under the name plasm but at later rebranded to a star in 2022 to avoid confusion with ethereum’s layer 2 scaling solution plasma to fully understand what a star is you first need a quick recap of polka dot Network see pokka dots a layer zero blockchain which means its purpose is to connect all blockchains together and provide a base layer for layer ones to launch on top of par of chains are built on top of that layer zero and these are polka dots layer one blockchains a star is one of these a star is specifically designed to bring smart contract functionality to the polka dot ecosystem without it that functionality simply would not exist within the base chain on dot now A Star is a multi-chain network that allows developers to create decentralized applications within the polka dot ecosystem using various uh programming languages all compatible with other blockchains the cool part is a star is aiming to become an App Hub with connectivity across all layer one blockchains such as ethereum salana cosmos and more star has also received over $33 million in VC funding from the likes of coinbase Ventures binance Labs okx Ventures crypto.com gavinwood polka dots founder even investing here as well so a lot of big names behind this even big Tech VCS are investing in this web 3 platform a recent announcement also confirmed a $3.5 million investment from check this out Samsung’s Venture Capital arm pretty cool this is on top of the $3.5 million investment from Sony back in 2023 again big Partnerships big backers and before we break down the asars token and what exactly it’s used for I want to take a real quick second to interrupt the flow to let you know about the best damn newsletter in the cryptocurrency game it just happens to be my newsletter and it’s called wealth Mastery every single week my team and I are working hard to bring you the latest and the greatest and the best opportunities and insights in in the crypto market airdrops altcoin news deep Dives mem coins nfts technical analysis and much much more you can join our 125,000 plus weekly readers and sign up for free using the link Down Below in the description on YouTube or the pinned comment over on X now you understand what the estar network is let’s talk about its token Utility Supply distribution all that important stuff the a St token has three primary use cases one dap staking two paying transaction fees and three onchain governance dap staking is a unique tool that is used to incentivize development on the network it’s like the usual proof of stake validator staking but for developers which is kind of cool so instead of validators pledging tokens confirming transactions and being rewarded with the token a star shakes things up a little bit it allows users to vote for the apps that they want and in return users receive tokens and so do developers pretty cool Community win-win if you ask me every transaction made using the estar Network requires the sender to pay transaction fees these are paid in the ASR token part of the transaction fee is then burned to incentivize usage and to offset against the number of new tokens that are being created all the time aka the inflation of the token token holders can also have their say in shaping the future of the network of course by voting for or voting against different governance proposals so there’s that the launch of a star 2.0 in 2023 updated tokenomics to shift the focus more onto dynamically adjusting the rate of token emissions so burn mechanisms were introduced remember burn mechanis just talked about that very important I think for long-term U value acrel this was done as a better way to incentivize and to balance those incentives between Builders and stakers as the network grows in the future as well as to reduce again the tokens inflation rate a Stars ASR token had a total initial supply of 7 billion tokens but this number is already up to 8.44 billion that’s because the token Supply again is inflationary there’s no Supply limit in place and it’s increasing by an estimated 66 5 million tokens each year it’s a lot of new coins entering Supply the token supply of ASR has been distributed as follows 30% allocated out to users and to early supporters of the network 20% allocated over to the par chain auction in 2021 which those tokens have been distributed a while ago 10% to protocol development 10% to early Financial backers 10% to the estar Foundation 5% to the pair chain auction Reserve 5% to the onchain Dow and and 5% to marketing and 5% to the team currently there are 5.64 billion of star tokens in circulating Supply now when it comes to Partnerships and it comes to Integrations AAR has delivered some pretty killer collaborations over time deoe for example big for accounting firm has partnered with a star to develop nft based games and plans to build a web three basketball game to test out the functionality car maker Mazda Mazda I it launched its Yoki Origins nft collection on a star cool Japanese watch maker CIO CIO man dropped its 50th Anniversary nft Collection on a star consisting of eight pieces of art with prizes up for grabs all three of these Partnerships have only been made possible after a star expanded into the ethereum ecosystem a star teamed up with ethereum layer to blockchain network polygon and get polygon they’re everywhere aren’t they and together they launched the Asar ZK evm rollup in March this year it’s a layer 2 blockchain to help scale the ethereum network and it is the first layer 2 blockchain to plug into the polygon aggregation layer to connect a star with aium and of course a star connected to polka dot you see the connections here any blockchain network that integrates into polygons ation layer in the future will thus automatically be connected to a star through this new solution now that a star has integrated with ethereum through polygon it’s got the potential to attract a ton of new interest from Brands wanting to build on web 3 but also developers users all that kind of stuff Japanese car maker Toyota for example has also shown interest in exploring the world of web 3 with a star by sponsoring its hackathon event last year pretty cool Toyota’s aim was to develop its first proof of concept tool for its employees whilst no further updates have been released around that in specific if the proof of concept did go ahead then it would mean that Toyota employees would be using the estar Network basically every single day it’s pretty cool right another Japanese name to add to a Stars Network is NTT doomo Japan largest mobile phone network pretty interesting right 2022 the company announced it would invest $4 billion in web3 infrastructure and it has chosen a star to help speed up its web 3 transition not saying all $4 billion dollar is going to a star but still its partnership Japan’s government owns a third of the stock of NTT too’s parent company NTT which is again a massive endorsement in of itself for Star but with all of that comes a big risk 2024 is an election year in Japan and if if the government for example changes hands and it gets in the hands of anti- crypto factions that could kill the country’s web 3 adoption Japan’s current prime minister has championed web 3 development with a favorable road map of regulations for the country which has been long time coming in Japan government currently has a web3 team and a white paper that has led to the creation of over 160 active web3 projects in Japan which again a f flourishing of crypto in Japan finally after years the government also had corporate tax cuts planned and plans to allow Venture Capital companies to hold crypto but but a corruption Scandal has led to record low support for this government leaving the country’s crypto plans potentially in limbo if the next government comes in decides to ax all this stuff all of which could kill a star’s attempt to grow its ecosystem in Japan which is the most important ecosystem for a star if the government hostile towards crypto it could really be a major headwind for the estar network but no matter what happens in Japan with access to the ethereum ecosystem of course it can now tap into ethereum’s entire developer ecosystem which could offer it out a way for it to grow and find success in other parts of the world Beyond its core audience in Japan if a star wants to expand it’s going to need to tap into new markets Beyond its Japanese Roots anyway and by partnering with Japanese brands that have very very large presence some big important brand names internationally as course a car a star can then leverage those relationships to try and attract new users as well as a relationship with polygon if it continue to reach more web two communities then it has the potential to really fulfill on its goal of becoming a major hub for blockchain apps not just in Japan but globally a star is so multifaceted that it can connect all blockchains together so thus expanding its use cases and making another opportunity for it to potentially capitalize on anyway that’s it let me know what you think about a star in the comments and I will see you in the next video

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00:00 Intro
01:13 What is Astar?
04:49 ASTR Token
07:37 Key Partnerships and Integrations
10:24 Risks and Opportunities

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Disclaimer
Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. Lark Davis (The Crypto Lark and affiliated brand Wealth Mastery) is not providing you individually tailored investment advice. Nor is Lark Davis registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Lark Davis is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.