Astra Protocol

Sep 27, 2021

2 min read

Provenance from Astra

Astra offers a way to resolve blockchain transaction disputes on-chain, using a blend of patented technology and accountable experts working independently.

Smart contracts are fantastic tools that are a vital component of DeFi, crypto and many other blockchain transactions. However, there are risks associated with new smart contracts that haven’t been stress tested. For example, coding errors can make transactions vulnerable to attack and could create issues or disputes.

According to one study, up to 100 errors per 1000 lines of code, meaning that up to 10% of smart contracts could contain bugs, which is a little concerning. Of course, many contracts are well coded, have been thoroughly reviewed and used to conduct thousands of transactions safely. In contrast, newer smart contracts developed by more inexperienced coders are more high risk, primarily when non-specialists have coded their own smart contracts. For those relatively new to DeFi, it can be difficult and a little daunting when there isn’t an easy way of telling which are safe and which aren’t. Even some experienced crypto and DeFi users get caught out from time to time. But Astra is here to help.

Astra plugs into reputable smart contracts from reliable protocols only, meaning they are legitimate and haven’t been compromised. Astra’s presence is like a stamp of approval and a symbol of trust, telling investors, consumers and DeFi participants that this is a genuine project with a verified smart contract governing the transactions.

The trouble is, even when coding is perfect, disputes can and do occur. As many as 3%-5% of e-commerce transactions and on average 9% of contractual agreements across all sectors incur some friction. Now, there is a lack of well-established, cost-effective, on-chain resolution mechanisms that have proven to resolve all ranges of blockchain disputes. With its globally recognised patents and access to the highest quality legal and subject matter experts globally, Astra can solve all DeFi related disputes on-chain, without courts and other laborious, costly traditional judicial processes.

With Astra, you can be sure that the smart contract is safe and there is an effective on-chain resolution for when those occasional unforeseen issues or disputes arise.