ZURICH, SWITZERLAND / ACCESSWIRE / May 9, 2022 / Astra Protocol is raising $100 million to deliver a compliant blockchain for Web3. Astra Network will become the largest network in the industry by creating the next iteration of decentralization through the convergence of Web3.0 and traditional financial ecosystems. The entire network is explicitly designed to be a fully KYC compliant decentralized blockchain ecosystem, where every network participant is validated as a prerequisite to onboarding. As part of this exciting process, the most anticipated launch of 2022, the ASTR token, will be available on DAO Maker, the number one launchpad globally, on May 30th and on the world's leading exchanges thereafter. The ASTR token will be a pivotal moment in Astra Network's development.
The Astra Protocol will complete all compliance practices. Astra Protocol compliance technology is proven and backed by the most prominent legal firms globally, which the respective major firms will soon announce. Our technology, combined with this Decentralized Legal Network (DLN), generates a global presence and facilitates the world's highest quality and most accurate KYC process. Our flexible approach allows us to adjust KYC procedures to an ever-changing regulatory landscape, ensuring that all regulations are complied with at any time.
As well as being the first and only fully compliant blockchain, Astra Network aims to address some of the current drawbacks to existing technology. A Proof-of-Stake consensus mechanism will be used as a more environmentally-friendly alternative to Proof-of-Work, improving scalability and increasing transactional throughput compared with Ethereum and other layer 1 blockchains. Current Ethereum gas prices are prohibitively expensive and are in danger of hampering the growth of DeFi.
The DeFi market has increased by around 400x since March 2020. As of 2020, the global financial services market was $20.4trillion. The convergence of TradFi and DeFi is only possible through our technology. Astra Network is the point where regulators, financial institutions, and decentralized finance meet. Only verified users will be able to use DeFi protocols on this blockchain platform to reduce the risk of scams and fraud, meaning the market can continue to flourish.
Astra Network provides a safety net for all blockchain transactions so that well-renowned institutions and even governments can safely participate. Central Bank Digital Currencies (CBDCs) are receiving more attention than ever before, and Astra Network is the only secure public platform for their use. The consensus is that current blockchain networks have a significant lack of investor and consumer protection, making them high-risk and inappropriate for CBDCs. Astra Network will bridge the gap between innovation and security, so government-issued digital tokens can become a reality.
The Astra Network has further strengthened its position with the recent appointments of the former Chief of Staff for the White House, Mick Mulvaney, and the former Secretary of Homeland Security, Kirstjen Nielsen. Mick Mulvaney's impressive government and regulatory expertise will help our network navigate U.S. regulations. Kirstjen Nielsen will assist us with constantly evolving global cryptocurrency policies and developing our network's role in the Web3 space.
We are introducing the next generation of blockchain, which will accelerate the growth of Web3. The Astra Network revolution will create an environment in which people, businesses, and governments are safe to engage without compromising the benefits of a decentralized system.
Media Contact:
Alex England
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SOURCE: Astra Protocol