Category Archives: Blockchain

[vc_row][vc_column][vc_column_text]With the world steadily adopting cryptocurrencies and adjoining innovations, many have also continued to cry foul about the risk of putting money in a young market. While traditional systems have remained relatively stagnant and overregulated, DeFi offers an alternative that is ever innovative.

Peer-to-peer payments enabled by cryptocurrency have increased involvement in the global economy for millions of people who do not have access to traditional banking services. The advent of decentralized finance (DeFi) promises to broaden access to financial services such as savings, loans, derivatives, asset management, and insurance.

People use DeFi to lend or borrow money and earn interest. However, instead of transacting through a third party acting as a mediator, users can interact directly between themselves (with no intermediary) via smart-contract programs.

This financial inclusion-enabling innovation should be able to thrive in a regulated environment in which individuals and institutions are safeguarded and suspicious conduct is discovered and reported. But how do you regulate without fully eliminating the key features of financial inclusion and decentralization? Astra Protocol has the answer.

The DeFi Regulation Problem

Decentralization is the core philosophy behind DeFi. DeFi has grown during a period of overall economic prosperity and continuous rise in cryptocurrency prices. The steady increase in the value of collateral locked in DeFi protocols indicates that neither individual protocols nor the system as a whole has yet been stressed. It is unclear what will happen to interconnected protocols if one or more of them suffers from significant market-wide pricing fluctuations or large-scale technical outages.

This is a significant concern because DeFi has the potential to be a vector for all three of the primary risks that financial regulators are tasked with managing. The first category is criminal conduct, which includes money laundering, tax evasion, and terrorist financing. The second issue is fraud, which was on full show during the 2017 initial coin offering (ICO) boom, helped by early implementations of DeFi. The third goal is to reduce systemic risk. DeFi and crypto are still unlikely to be large or influential enough to cause widespread financial disruption in the case of a significant market collapse or system failure, but you never know.

Regulators have traditionally relied heavily on the people who administer traditional platforms to control those risks by monitoring their customers and suspicious activity on their platforms. The situation is different with DeFi.

DeFi transactions done between individual users using unhosted wallets, for example, are exempt from Bank Secrecy Act (BSA) procedures like as Know-Your-Customer and anti-money laundering checks. The applicability of the BSA and related FinCEN laws is dependent on the participation of intermediaries offering hosted wallet, exchange, or other specified services, according to Financial Crimes Enforcement Network (FinCEN) guidance. Furthermore, because DeFi protocols permit anonymous transactions, market participants subject to the BSA currently have no practical way of determining what obligations apply to their DeFi transactions. These are also all applicable when thinking about sanctions that apply to DeFi activities.

Although DeFi projects do not fit well into the present financial regulatory framework, this does not mean that policymakers or regulators should not or cannot control them. As DeFi projects grow in size, it’s becoming clear that they may pose the same kinds of risks that financial regulation is supposed to address. Financial crime, consumer protection, and financial stability issues are among them.

What Does Regulation Look Like?

To address DeFi issues, regulators must incorporate them into their public policy objectives, which include investor protection, market integrity, and the prevention of financial crime. Classification considerations will be difficult, as they are in any new market. The plethora of existing regulatory categories evolved as a result of many statutory and administrative frameworks built with centralized financial services in mind.

Regulators must modify the existing regulatory framework to accommodate DeFi services. They can learn from approaches that are working in the current cryptocurrency industry. Specialized divisions, such as the Securities and Exchange Commission’s FinHub and the Commodity Futures Trading Commission’s LabCFTC, enable regulators to gain experience in new technology, communicate productively with the sector, and provide informal regulatory guidance. Disclosure rules or safe harbors might encourage market players to give regulators with information that will assist them in better understanding market dynamics and developing best practices.

Regulatory sandboxes, such as the one established for fintech by the United Kingdom’s Financial Conduct Authority, provide a safe area for regulators and new services to work through challenges. Security and Futures Act in Singapore also represents a similar regulatory model. Furthermore, authorities should initially clarify relatively simple issues in order to provide direction to the industry. This allows regulators to focus on more difficult issues while ensuring market participants remain secure.

Another way to regulate without sacrificing decentralization is to implement regulatory protocols hard-coded into DeFi platforms or added as a layer to existing platforms. One of such layer is the Astra Layer, a legal compliance and regulatory protocol for the DeFi space.

Astra As A Regulator 

The Astra Protocol provides a unique way for decentralized entities to comply with global standards and regulatory norms while remaining decentralized. At a crucial moment when there is so much skepticism, Astra strives to instill the required trust in the crypto and blockchain ecosystems.

Astra’s goal is to develop a legal layer that can be linked to any existing DeFi platform. Astra ensures that funds are always delivered safely to their intended recipient. If there is a problem, the team can quickly rectify it and return the cash. Any issues can be resolved amicably by including a conflict clause – also known as proof of trust – in the platform and smart contract.

This innovation is predicated on a Proof of Trust system, which delivers peace of mind in commercial transactions and contracts via an extra-judicial and extra-jurisdictional dispute resolution method. The PoT system aids in the rapid resolution of inadvertent or fraudulent transactions, hence protecting stakeholders.

To resolve all problems, Astra uses a combination of human knowledge and technology. This includes human mistakes, accidental payments, and fraudulent transactions.[/vc_column_text][/vc_column][/vc_row]

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Regulations coming to the world of DeFi now seems inevitable, but that may not be a bad thing. We believe this will be the start of a second wave of incredible growth. Some estimates even suggest that the DeFi market could soar into trillions of dollars, provided carefully devised rules are brought in to protect consumers and investors.

First, it is a myth that by enforcing KYC, DeFi automatically becomes centralized. With KYC, a DeFi platform would continue to offer decentralized financial transactions, providing an intelligent solution is available to assist with the due diligence procedures. This is where Astra will be instrumental. DeFi with KYC from Astra will still be able to offer all those innovative products as before, but with greater security and consumer protection. What’s not to love about that?

In essence, DeFi lending and borrowing platforms from the likes of AAVE or Compound aren’t offering anything wildly different from traditional finance platforms. Except, in the decentralized world, you get around 5% interest rates, compared to around 0.5% with conventional finance platforms. The primary reason for this vast difference is due to smart contracts that reduce the need for so many intermediaries, this allows for the attractive interest rates DeFi users experience. These impressive rates will still be available with KYC and enhanced user verification, except major financial institutions will now be more inclined to participate.

Astra technology can verify the credentials of would-be DeFi users so that decentralized platforms can comply with the UK and global regulations and strengthen AML and CFT processes. Our technology is agnostic of the platform and can work with any existing public blockchain. Upon receiving a request from a new user, the decentralized organization would use Astra as the decentralized compliance layer without requesting and storing KYC information themselves, which many are reluctant to do.

The beauty of Astra’s technology is that it uses experts (known as Delegates) from a pool of highly trusted and accountable individuals to review KYC when needed. Many have worked for globally renowned institutions such as KPMG, PwC, EY and Deloitte and bring unrivalled experience and expertise. The platform allows Delegates to work remotely from anywhere in the world, meaning Astra can select the most appropriate people to review each case regardless of location. Whether companies seek compliance in the US or Vanuatu, Astra has experts with the right experience and knowledge.

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“THE ASTRA PROTOCOL GIVES DECENTRALIZED ORGANIZATIONS A UNIQUE MEANS TO COMPLY WITH GLOBAL RULES AND REGULATORY NORMS WHILE THEY REMAIN DECENTRALIZED.”

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DeFi is sometimes compared with the “wild west” by regulators looking at buggy smart contracts and flash loans. Nevertheless, the steady rise of DeFi has continued, and nothing seems to discourage VC funds from investing in several projects in the space.

Bitcoin is the most important effort to bypass established financial institutions, but the DeFi sector expands into insurance, lending, commodities trading, and even savings accounts far beyond cryptocurrencies. While cryptocurrencies were created as an alternative to fiat currencies, DeFi is based on the philosophy of replacing legacy systems.

As web3 and other parts of decentralization gains prominence, many have bought into the DeFi hype and what it offers the average crypto enthusiasts. The change in consumer behavior,  which is often linked to the pandemic, has caused the price performance of assets like Bitcoin and Ethereum to be phenomenal in recent years. They are not just speculative, but Bitcoin displaces gold as a safe haven asset.

DeFi developers write the software and then leave the project to enable it to operate without a central entity. They contend that such a decentralization negates the necessity for SEC scrutiny, saying that certain cryptocurrencies, like bitcoin and ether, are decentralized enough to prevent regulation.

DeFi’s Expanding Services 

DeFi can be described as alternative financial products and services based on blockchain. DeFi platforms allow users to engage in typical financial activities, such as lending and loaning, through direct peer-to-peer exchanges by directly mediating value transfer and eliminating the role of traditional financial middlemen. Transactions are made on a public blockchain, not by a bank or other central entity. DeFi services have a non-custodial design that means that theoretically the assets issued or managed on DeFi platforms cannot be unilaterally relocated or expropriated from parties other than the owners of the account.

DeFi leverages open protocols and decentralized applications or DApps to carry out transactions. Smart contracts, programs that work automatically when certain criteria are fulfilled are built on existing blockchains like Ethereum and Solana, and supply these protocols and DApps. Intelligent contracts replace the central financial institutions’ intermediate role in a blockchain using self-executing lines of code.

In the last year, total value locked as collateral in DeFi applications grew from under $2 billion to over $80 billion, according to data collected by DeFi Pulse.

Urgent Need Of Regulation

Advocates of cryptocurrency opposed early attempts to regulate the software’s underlying codes by saying that projects of open source are protected speech. But DeFi poses a lot of risk to the average user that makes it important that decentralization shouldn’t deter the need to regulate.

Firstly, many DeFi protocols, including nine of the biggest DeFi projects, are built on Ethereum. DeFi’s increased customer base has led to an appropriate rise in attack, bug, and network congestion. Ethereum’s public blockchain architecture is far from infallible. This might lead to high transaction costs for the network, unsuccessful transactions, and settlement problems. The high congestion in the network has in some circumstances brought DeFi applications to a standstill. For example, network congestion created a serious breakdown in the DeFi application in March 2020, leading to a total auction off over $8.32 million of cryptocurrency.

Secondly, the crypto market volatility is known. For example, in 2018, Bitcoin dropped more than 80 percent before it rebounded, approaching its worst recorded bear market. And unforeseen external variables such as social media might influence the market. For example, after Elon Musk posted a meme that many interpreted as Tesla could decrease its Bitcoin holdings, Bitcoin plunged significantly.

While panic buying produces big increases and leads to higher value above the genuine worth, panic selling of DeFi tokens may also lead to crashes which with fiat currencies would be unlikely. In June 2021, for example, tokens with a Crypto Village Accelerator and Galaxium Accelerator lost more than 60% over 24 hours. In the same 24- hour period, well-known tokens like Uniswap lost 7%.

Another issue is that DeFi is in her early years. The majority of the space services are programs that automate financial transactions and replace the bank’s traditional position as a broker. This leads to a number of dangers and an uncertain regulatory environment. The lack of intermediaries, the anonymity of pair-to-peer transactions, and DeFi’s worldwide reach pose a possibly increased risk for participants to comply. If regulatory organizations do not provide clear direct direction, DeFi platforms risk ambiguous conformity and legal responsibilities. They can involve a number of aspects, from anti-money laundering to consumer protection.

Investors, professionals, and regulators alike have urged for more regulatory clarity in the DeFi ecosystem in order to address these challenges. The Astra protocol, legal compliance and consumer protection layer, is a new program that is built as a regulator in the DeFi space. The protocol acts as an on-chain layer of assurance and safety for the ordinary DeFi user.

Astra Protocol: Regulation, Protection, Compliance

Smart contracts automating a decentralized decision-making system are a common component of all blockchain decentralized projects. It is a fundamental part of any decentralized system, including DeFi, as it creates confidence in the project as a secure investment. However, a regulator or regulatory protocol should be developed to help eliminate any ambiguity, prevent fraud and resolve disputes, ensuring that the public blockchains are safe for all users.

The Astra Protocol gives decentralized organizations a unique means to comply with global rules and regulatory norms while they remain decentralized. At a critical period in which there is so much suspicion, Astra seeks to provide the necessary confidence in the crypto and blockchain ecosystems.

Astra aims to create a legal layer that can be connected to any existing DeFi platform. Funds will always reach the right destination safely via Astra. If there is a malfunction, the team can resolve the issue and return the funds frictionlessly. Any problems can be solved amicably with the addition of a conflict clause – known as proof of trust – to the platform and smart contract.

This innovation is based on a Proof of Trust system, a built-in protection system that provides peace of mind in commercial transactions and contracts through an extra-judicial and extra-jurisdictional dispute resolution mechanism. The PoT mechanism helps to ensure that accidental or fraudulent transactions are addressed quickly, protecting stakeholders.

Matters such as the smart contract agreement in lending transactions or borrowing are therefore easily resolved because, at any time when one party is dissatisfied, this consensus mechanism can be invoked. There is a dispute resolution process included in all loan deals.

Conclusion

The current regulatory framework based on this traditional model will undoubtedly find ways to fit only awkwardly with a new scheme based on the absence of intermediaries. New forms of money and financial services will always cause some confusion at first. Astra will act as a cushion for regulation, compliance, and protection of DeFi users without sacrificing the benefits of decentralization.[/vc_column_text][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]The meteoric rise of the DeFi and accompanying NFT space has been quite spectacular and truly unprecedented. In May 2021, the DeFi market reached an all-time high, with the total amount of digital currency locked surging to around $87 billion.

According to available data, the total value locked or TVL in DeFi almost reached $100 billion before a significant correction recently. This is a major milestone considering that the entire decentralized finance ecosystem was only valued at $1 billion in February 2020.

However, most great breakthroughs or innovations tend to come with some drawbacks. After all, nothing is perfect. This dramatic growth of DeFi along with the fact that these protocols are designed to be permissionless — meaning they can be accessed without ensuring regulatory compliance — makes it abundantly clear that DeFi could be exploited by bad actors or cybercriminals engaging in illicit activities.

Non-Compliance Fines on Financial Firms Surpassed $10 Billion in 2020

One of the main responsibilities for traditional banking institutions and other financial service providers is to ensure the markets’ integrity. Last year, a Fenergo report revealed that sanctions sustained by financial platforms for non-compliance with applicable AML/KYC and various other regulations totaled $10.6 billion internationally.

Updates to financial institutions’ regulatory guidelines to curb criminal activity have fallen short, according to industry analysts. But when comparing the traditional financial space with crypto and DeFi regulations, they’re still considerably more robust.

One of the primary challenges that DeFi and crypto-assets have to deal with is the extremely high profitability of the market to money-launders and those engaging in other forms of financial crime. Updates to crypto trading platforms can be challenging, as this would require costly  digital onboarding processes, user-developer friction, and susceptibility to major security breaches.

A 2020 study released by blockchain security company CypherTrace revealed that over 55% of all crypto trading platforms had extremely weak or no AML/KYC checks. This would be a critical building block in sufficiently secure and compliant solutions.

Ensuring Compliance with Innovative Legal Tech

The Astra Protocol enables DeFi platforms to adhere to the “inevitable” regulations “without compromise,” according to its developers.

As the crypto-assets market continues to attract more users, there will definitely be a need for better compliance solutions. The Astra Protocol team writes in a blog post that the route that the community can take is “through embracing appropriately tailored regulation procedures while maintaining its essential decentralized nature.”

The Astra team explains that decentralized financial organizations may use their protocol, as it can serve as the decentralized compliance layer “without requesting and storing KYC information themselves whilst simultaneously reducing the risk of fraud and criminal activity.”

The protocol’s developers claim that their solutions can effectively “unlock the door to institutional adoption.”

Regulators Have Increased Scrutiny of Crypto Firms

Federal regulators in the US such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have begun to seriously investigate the operations of cryptocurrency firms, especially those of digital assets exchanges. Given these developments, ensuring regulatory compliance needs to become a key priority for every financial institution.

Large crypto exchanges such as Binance, ByBit, BitMEX, Huobi, OKEx, among many others, have received multiple warnings from regulators not just in the US, but by regulatory agencies in almost every jurisdiction in the world.

It can be quite challenging to navigate the international regulatory landscape, especially with complicated requirements like the Travel Rule – which has introduced strict requirements that financial institutions must follow. They require service providers to accurately document and share the sender and recipient’s details for all major transactions (and many other guidelines).

Fortunately, the team at Astra Protocol has been developing solutions to help crypto firms remain compliant in this fast-evolving financial industry.Most industry experts agree that regulated platforms will provide sustainable business models, meanwhile, non-compliant service providers may be forced to shut down operations.[/vc_column_text][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]The use of smart contracts, which automates a democratized system of decision-making, is a common feature of every decentralized blockchain initiative. It is a necessary component of any decentralized system, including Defi, since it instills trust in the entire project, portraying it as a safe destination for investment.

Given the recent influx of new entries into the sector, as well as the corresponding number of departures, a blockchain project may require more than smart contracts to earn the trust of investors and stakeholders alike. So, what can be done that would make a difference?

One effective solution to the aforementioned is a patent. Unlike blockchain itself, which is an open-source technology that can’t always be patented, smart contracts create new written agreements suited to a specific project. As a result, patenting smart contracts is both ethical and practically essential for any blockchain project.

Proof of Trust is one of the very few in the industry that is seemingly aware and cautious of this fact, and as such does not neglect the role of patents as an integral part of the company’s end-to-end process.

The intellectual property of Proof of Trust is reported to number over 30 awarded patent claims, with all global patents issued by the United States Patent and Trademark Office, which should be sufficient in giving investors confidence in a project of any size.

In an exclusive interview with DailyCoin, Sakhib Waseem, CIO of Proof of Trust, discloses the essential role that patents play in the validation of smart contracts.[/vc_column_text][vc_column_text css_animation=”fadeIn” css=”.vc_custom_1630064051420{padding-top: 50px !important;padding-right: 50px !important;padding-bottom: 50px !important;padding-left: 50px !important;}”]

“The patents are for assurance and the validation of smart contracts, diagnostic of the programming language and the blockchain that it sits upon,”

[/vc_column_text][vc_column_text]Waseem noted.

As previously stated, smart contracts are used to automate a democratized system, and although this may not be sufficient to establish trust in the system, patenting serves as a validator for the overall protocol.

Waseem, fully aware that there are only a few companies that pay attention to patents, went on to make reference to the current state of the industry, and how it puts them in a “stronger position” when building a sustainable company.[/vc_column_text][vc_column_text css_animation=”fadeIn” css=”.vc_custom_1630064069100{padding-top: 50px !important;padding-right: 50px !important;padding-bottom: 50px !important;padding-left: 50px !important;}”]

“If we consider how the industry will expand, how it has evolved, and the relevance of smart contracts in this environment, being the primary executable layer for Defi, we are in a stronger position. It is as a result of this that we value our work so highly, and why we’re working hard to build a sustainable firm with high ambitions,”

[/vc_column_text][vc_column_text]Waseem explained.

According to Waseem, obtaining patents isn’t enough; there is also the need to get approval from an internationally recognized authority, even if it takes a long time.[/vc_column_text][vc_column_text css_animation=”fadeIn” css=”.vc_custom_1630064099034{padding-top: 50px !important;padding-right: 50px !important;padding-bottom: 50px !important;padding-left: 50px !important;}”]

“Even though we’ve worked on Proof of Trust for a long time, it’s a never-ending cycle. As a result, we will continue to work on it, driving more intriguing innovations within the application as it grows with time. This way, it doesn’t remain as a singular product, but one that is constantly evolving to ensure that it stays market-leading in what it does, and, of course, with a patent that is regularly updated,”

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[vc_row][vc_column][vc_column_text]The team at Astra Protocol, which aims to equip the decentralized finance (DeFi) space with a complete legal layer and unlock the future growth of the industry, notes that operating within DeFi comes with “unpredictability” as well as key opportunities. Some of the main benefits of the underlying tech also pose certain challenges that have to addressed.

According to the Astra Protocol team, the DeFi market is evolving rapidly and malicious actors have been able “to anonymously exploit weaknesses in protocols to take vast amounts of money from unsuspecting individuals.”

Quite often there’s no recourse or route to justice for those impacted, the Astra Protocol team writes in a blog post. They also mentioned that with its rise in popularity in early 2020, the news that often accompanies DeFi involves hacks and various other types of exploits.

Last year, 17 major DeFi scams took place that “resulted in the loss of $154 million,” the update from Astra Protocol noted while adding that by the end of July 2021, DeFi hacks “made up 76% of crypto-related exploits and DeFi-related fraud made up 54% of major crypto fraud, up from just 3% in 2020.”

The recent news of the $600 million attack on Poly Network is a key example of “opportunistic” hackers “extracting what they can — likely making it the largest cyber-heist in crypto history,” the Astra Protocol team noted.

They added that this most recent attack “comes as losses from theft, hacks and fraud related to decentralized finance (DeFi) hit an all-time high.” These headlines will “not go unnoticed,” the Astra team noted while adding that they act as “a signal of uncertainty to potential investors in the sector as well as motivate law enforcement and financial authorities to intervene within the market.”

Just a week ago, yield optimization platform, Popsicle Finance had also become a target, with hackers “successfully drawing off around $20 million of Ethereum from the Sorbetto Fragola liquidity manager.” This attack was “bigger than all previous Decentralized Finance hacks in July combined,” the Astra Protocol developers noted.

They also mentioned that it seems the inherent risks were “too much to protect against in this case, with Popsicle Finance appearing to taking all the essential safeguarding steps having supported two different audits on the platform’s smart contracts — both revealing no concerns.”

As noted by Astra Protocol, the very complex administration of the hack “was later revealed to have taken advantage of a comparatively simple bug in the start contract code.”

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“Astra is the decentralized legal [tech platform] designed to protect all participants from such criminal attempts. Astra will bring trust to the DeFi market and reassure all users that their investments are wholly protected.”

[/vc_column_text][vc_column_text]They also mentioned:[/vc_column_text][vc_column_text css_animation=”fadeIn” css=”.vc_custom_1629803407686{padding-top: 50px !important;padding-right: 50px !important;padding-bottom: 50px !important;padding-left: 50px !important;}”]

“Should a party attempt to maliciously withdraw or siphon off a project’s funds, our patented protocol provides a route for funds to be retrieved. Our decentralized dispute resolution service quickly and cost-effectively resolves issues as soon as they arise, without the need to take the problem off-chain.”

[/vc_column_text][vc_column_text]With protection from Astra, DeFi and crypto-assets are “ready for institutional adoption,” the developers claim.[/vc_column_text][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]The art industry is full of copycats and imposters. Anyone talented will attract positive and negative attention alike. Artists are no exception. The growing popularity of NFTs, or non-fungible tokens, has not necessarily made things better.

Imposters duping the fans of popular artists

Creators often come across some of their artwork tokenized on a blockchain and sold for big money by someone else. A very alarming situation, yet there is no immediate recourse for such nefarious practices.

The scenario above happened to Derek Laufman, a well-known artist. Although Laufman has never been involved in non-fungible tokens, some of his artwork was sold as NFTs through a popular marketplace. The seller of the NFTs made a fair bit of money from copying Laufman’s work yet never offered any explanation of compensation. When Laufman called it out on social media, the marketplace facilitating the sale removed the imposter’s account. It did nothing beyond that.

Unfortunately, people who bought the NFTs from Laufman’s imposter also got duped. They do not own any original artwork by Derek Laufman, as the NFTs were never legitimate.

Stories like this highlight the need for solutions capable of protecting buyers and artists alike. Those are hard to come by. But Astra protocol can offer a safety net for all parties involved, including the marketplaces.

Astra’s dispute resolution mechanism

Even with digital ownership of assets like NFTs, it can prove challenging for users to be 100% safe. The incident above illustrates that point rather well.

However, solutions like Astra protocol can be of tremendous value. At its core, the dispute resolution mechanism can help buyers recuperate their money from fraudulent activity such as impersonating an artist.

With Astra’s legal layer, it is possible for buyers and sellers to feel confident and safe during every transaction.

Buyers know they can get their money back if something doesn’t add up. Sellers know they must be honest, transparent, and on their best behavior at all times. Making it easier to open disputes brings more legitimacy to this industry and eliminates scammers, thieves, and other criminal activities.

As Astra protocol is compatible with all public blockchains, there is no reason for NFT marketplaces not to integrate this solution. In addition, Astra plugs into any existing platform and provides ways to restore funds in case of mishaps. All of this is possible thanks to the dispute resolution clause in smart contracts. It protects all parties and transactions at all times, making it easier to resolve any issues.

Closing Thoughts

It is wise for NFT buyers to see what form of protection a marketplace provides. If there is no protection whatsoever, it is best to look elsewhere. Any platform integrating Astra protocol will gain a competitive advantage in this booming industry segment. It is crucial to offer protection to buyers. After all, it seems relatively easy to impersonate an artist and sell their artwork as NFTs without their knowledge.

Getting banned from a platform is a small price to pay when one can make thousands of dollars without recourse. With the help of Astra protocol, buyers feel safe, and criminals have no shot at making any money. It is a win-win situation for all parties involved.[/vc_column_text][/vc_column][/vc_row]