Dear Astra Community,
We are excited to introduce our new Community FAQ series, where we address some of the most important and frequently asked questions from our community. This initiative aims to provide clear, comprehensive answers to keep you informed and engaged.
Read to get the insights.
QUESTION: In layman’s terms, what will define Astra’s change in this re-iteration, and why was there a need to transform from a dApp to a chain?
ANSWER: Firstly, scalability and performance. It allows us to optimize specifically for identity verification and management at a global scale.
So, this means faster transactions, and lower costs, which are crucial for widespread adoption. It means we can easily integrate with other blockchains and traditional systems when that time arrives. This will allow us to serve various different markets.
ECOSYSTEM GROWTH:
As a network, we can create a more robust economic model around the $ASTRA token, incentivizing participation and driving the development of an entire ecosystem of identity-focused applications and services.
Becoming a chain empowers us to build a far more comprehensive, flexible, and powerful identity infrastructure that can serve all sectors as well as the commodities market and real-world assets. It’s an ambitious move, but one we believe is necessary to fully realize our vision.
QUESTION: Will there be new $ASTRA TOKENOMICS in its L2 Ecosystem? If yes, what are they? When can we get it out?
ANSWER: Tokenomics for now won’t change but if there is a fundamental need to change then we will speak with the community and do what’s right for all the stakeholders. Our leadership is about transparency and community building and we need all the help from our community to make sure Astra wins big.
QUESTION: What are Astra token utilities in the commodities market?
ANSWER: Token utility-wise, we’re integrating the Astra token into our identity solution. So, it will be:
- The facilitator of our identity checks and then tokenization of your identity.
- There will be options for adding different utilities as we build out, such as in the commodity and complex asset markets and how that interacts with the token.
I can’t say too much about that but that will be released to the community before we implement anything. So, yeah we have a lot planned for the ASTRA token and how we can have people really engage with identity and markets but it will all be fuelled by the token.
QUESTION: Why FII is the ideal stage for the AstraAI demo?
ANSWER: The reason & objective for choosing FII as the stage for AstraAI is multifaceted. Firstly, of course, to demonstrate Astra’s capabilities, present and future to a global audience, networking with potential partners and investors, and generally to stay at the forefront of industry developments because there’s so much tech on show.
This means showcasing Astra in front of industry giants like Larry Fink. The real value is in the event itself. This demonstration isn’t just about showing off our tech; it’s about proving that we’re ready to compete at the highest level and potentially securing partnerships that could catapult Astra to the forefront of the industry.
QUESTION: What is the scope of partnership with dropp and Astra?
ANSWER: We’ve partnered with Dropp to leverage their industry-leading computer vision models. This allows us to process and verify documents with unprecedented accuracy and speed– it means faster, more reliable identity verification with no human error in our process.
Stay tuned for more such episodes!
About Astra
Astra is an AI-powered, KYC-first Layer 2 blockchain, focused on transforming the commodities and complex asset markets with AI-driven transparency and blockchain-based efficiency.
Join Astra today: https://linktr.ee/Astra_HQ
