Polkadot Parachain Astar Network Raises $22M From Polychain, Alameda Research

Posted on by American Coins & Gold

Polkadot Parachain Astar Network Raises M From Polychain, Alameda Research
Astar Network, a parachain of the Polkadot network, received $22 million strategic funding from crypto venture capital firms Polychain and Alameda Research.Astar will use the funding for geographical expansion, the company said in a press release on Friday.Other investors in the round were Alchemy Ventures, Animal Ventures, Crypto.com Capital, Digital Finance Group, GSR, Injective Protocol and Scytale Ventures, among others.Astar Network is a parachain or a parallel chain of Polkadot, a framework for connecting various blockchains.Polkadot’s main relay chain does not support smart contracts. Astar provides that support for smart contract developers.The Astar network also allows developers to earn tokens…