A Private Digital Currency
The purpose of the AstraCoin is to help entrepreneurs and the self-employed, so they can achieve their goals and objectives. It is a decentralized platform that helps them finding talent for their projects.
Astra is a next-generation cryptocurrency and p2p payment network where transactions are recorded on the blockchain – a decentralized and distributed public ledger. Provides users with a safe, portable and fungible digital currency.
The Astra network is a secure blockchain-based payments network, thanks to technological innovations such as ChainLocks. This mitigates the risk of attacks by 51%, forcing any potential malicious actor to successfully attack both the mining layer and the masternode layer.
To attack both layers, a malicious actor would have to spend a large amount of Astra to dictate bogus inputs to the blockchain, increasing Astra’s price in the process. Therefore, a successful attack would be cost prohibitive due to the large percentage of Astra’s total market required to attempt it.
All transactions are automatically sent and received instantly at no additional cost. Transaction security and decentralization are not compromised, due to ChainLocks innovation. As a result, using Astra to transact means getting the speed and fungibility of fiat currency, while also having the lower costs, privacy, and fund security of a blockchain-based network.
The most important differentiating feature of the Astra payment network is the concept of masternode. In a traditional p2p network, nodes participate equally in the exchange of data and network resources. These nodes are all compensated equally for their contributions to the preservation of the network.
However, the Astra network has a second layer of network participants that provide improved functionality in exchange for greater compensation. This second layer of masternodes is why Astra is one of the most secure payment network and can provide industry leading features such as instant transaction settlement and usernames.
Long-lived Masternode Quorums
Astra Long Life Masternode Quorums (LLMQs) are used to facilitate the functioning of the functions provided by the masternode in a decentralized and deterministic way. These LLMQs are deterministic subsets of the general list of master nodes that are formed using a distributed key generation protocol and remain active for long periods of time (for example, hours to days). The primary task of LLMQs is to perform consensus-related message threshold signing for functions such as InstantSend and ChainLocks.
InstantSend provides a way to block transaction entries and allow instant and secure transactions. Long-lived masternode quorums verify whether a submitted transaction is valid or not. If valid, masternodes “lock” the entries to that specific transaction and transmit this information to the network, effectively promising that the transaction will be included in subsequently mined blocks and not allowing any other transaction to spend any of the locked entries.
ChainLocks are a feature provided by Astra that provides certainty when accepting payments. This technology, especially when used in parallel with InstantSend, creates an environment in which payments can be accepted immediately and without the risk of «Blockchain Reorganization Events».
The risk of reorganization of the blockchain is generally addressed by requiring multiple «confirmations» before a transaction can be safely accepted as payment. This type of indirect security is effective, but at the cost of time and user experience. ChainLocks are a solution for this problem.
The Proof of Service (PoSe) scoring system helps incentivize masternodes to provide network services. Masternodes that do not participate in quorums that provide basic services are penalized, eventually excluding them from masternode payment eligibility.