What is Astra Protocol (Astra)? How and Where to Buy?
Astra Protocol
$0.0013
Project Name: Astra Protocol (Astra)
Website: Astra Protocol Official Website
White Paper: Website
Max Supply: 1,000,000,000 ASTR coin
Launch Year: 2021
Supported Blockchain Networks: Astra Protocol leverages Ethereum blockchain technology to empower users with ownership of their identities, content, and social data.
Table of Contents
The Astra Protocol represents a decentralized KYC platform developed for Web3, aiming to meet financial compliance standards in the Web3 industry by providing regulatory compliance tools for crypto applications.
What is Astra Protocol (Astra)?
Astra’s core mission is to integrate the financial regulatory standards of over 155 countries and more than 300 sanction and monitoring lists into applications without compromising the principle of anonymity. The Astra Protocol, which includes globally patented technologies, defines a new professional service layer called the “Decentralized Legal Network (DLN).” This network connects major legal and auditing firms, ensuring that cryptocurrencies comply with AML and KYC standards. Additionally, with its simple plugin technology, crypto applications can easily become compliant with financial regulatory standards.
Who Are the Founders?
Astra Protocol’s strong team consists of experienced professionals from various sectors. The project was founded by Damien O’Brien, Arthur Ali, and Jez Noah Ali. This leadership team has extensive knowledge and experience in the crypto industry.
Astra Protocol also has a robust network of investors and partners supporting its success. Notable investors include Huobi Ventures, Shima Capital, C Fund, Delta Blockchain Fund, GDA Capital, Formless Capital, Hyperedge Capital, DAO Maker, and Tokensoft. This impressive ecosystem of investors and partners provides diversity, supporting and contributing to the growth of Astra Protocol’s project.
Differences from Other Cryptocurrencies – Purpose – Advantages
Their unwavering commitment to online security is a key feature that sets Astra Protocol apart. They stand out with their strong and advanced screening processes, high-level performance in identity verification without compromising privacy, detailed background checks, and providing access only to legitimate users. Whether you are a selective investor, passionate gamer, knowledgeable shopper, or digital entrepreneur, Astra Protocol works tirelessly to offer a safe haven amidst digital chaos.
Advantages Astra can offer include:
- Fast Identity Verification: They offer a lightning-fast biometric identity verification experience that maintains accuracy within minutes.
- Low ‘False Face Match’ Rate: Their superior technology offers an industry-leading low false face match rate, minimizing errors and providing reliable results.
- Global Identity Document Support: Their technology seamlessly integrates and recognizes over 11,000 documents, ensuring universal compatibility worldwide.
- Enhanced Artificial Intelligence: Their advanced AI continuously improves biometric systems, increasing precision and delivering superior performance.
Four Main Applications of Astra Protocol
- Customer Identity Verification (KYC) Service: Web3 services using the Astra application can provide KYC in over 150 countries. It includes over 300 sanction and screening lists with additional biometric security measures. It also operates on on-chain data, offering a faster transaction process. Astra Protocol also operates on a Decentralized Legal Network (DLN) with graded KYC risk scores, enabling public KYC without corporate intervention.
- Business Identity Verification (KYB) Service: KYB shares similar features with KYC and provides business identity verification in over 150 countries with DLN and KYC risk scores. However, Astra Protocol offers additional controls for collaborating businesses, providing a higher level of security.
- Anti-Money Laundering (AML) Service: AML collects and protects Web3 data while providing Web2 fraud screening. It focuses on integrating services from Web2 to Web3. Astra Protocol offers a service that includes terrorist watchlists and ensures each service complies with FATF standards.
- Fully Customizable Reporting Platform: Astra Protocol provides developers with a comprehensive web-based analytics platform. Developers can customize their reports according to their needs through analytics and easily share or export all reports. This feature offers customizable dashboards for user-friendly data management and greater convenience.
Astra Protocol (ASTRA) Investment Evaluation
In the past week, Astra has experienced significant fluctuations in the market. Although it is currently in a downtrend, the project still attracts attention due to its high-level services. This situation may present a potential opportunity for short-term investors. However, it is important for investors to be cautious and determine appropriate exit strategies.
While Astra’s future performance remains uncertain, it is crucial to conduct thorough research before investing in crypto assets. We recommend consulting your financial advisor before making any investment decisions. This can help you make a more informed decision by considering your personal financial situation and risk tolerance.
This evaluation is not financial advice, and it is important to consider up-to-date information from reliable sources before making investment decisions. Market conditions can change rapidly, and all investments carry risks.
Frequently Asked Questions
Astra Protocol provides multi-layered protection for data security and user privacy. Smart contracts are secured through regular audits, and data transmission is ensured through encryption techniques. Additionally, the network is continuously monitored, and security updates are made, thus protecting cryptocurrency transactions and user information.