Astar Protocol: A New Era for Multichain DApps
Once known as Plasm, the Astar protocol has garnered attention after successfully raising $22 million in its latest funding round. Led by Polychain, the round included key players such as Alameda Research and Crypto.com Capital, signaling the growing interest in cross-chain technology.
The Journey from Polkadot Parachain to Innovation
Since its launch on January 17th, Astar has leveraged its Polkadot parachain slot, which it secured back in December, to propel its vision for the future. The protocol is focusing on integrating two major virtual machines – the Ethereum Virtual Machine (EVM) and WebAssembly (WASM), a move that could revolutionize how decentralized applications operate on their platform.
Dual Virtual Machines: The Game Changer
Astar’s commitment to supporting both EVM and WASM sets it apart in the realm of blockchain protocols. Currently, EVM is operational, but WASM integration is on the horizon. This dual-support mechanism isn’t just a technological novelty; it’s designed to enhance interoperability across the entire Polkadot ecosystem.
Impact on Interoperability
Sota Watanabe, founder of Astar Network, aptly noted that interoperability is more than mere jargon; it’s becoming a tangible reality. Through the XCM protocol, Astar aims to seamlessly connect varying parachains utilizing different virtual machines, thereby creating a versatile network.
Funding Allocation: Investing in the Future
With the fresh influx of capital, Astar is poised to fortify its engineering team, bringing on board top industry talent to further its mission. Plans are also underway to invest in and nurture projects that are native to the Astar ecosystem, ensuring a robust growth trajectory.
Supporting Multichain Initiatives
- Two live Ethereum bridges are currently operational
- A Cosmos bridge is actively under development
The Broader Implications: Parachains and the Cross-Chain Future
The Polkadot ecosystem allows for individual blockchains, known as parachains, to run simultaneously, facilitating a groundbreaking approach to cross-chain technology. With years of development, Astar is well-positioned to lead the charge in this innovative space.
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