ZURICH, Aug. 1, 2022 /PRNewswire/ -- The crypto market downturn has caused much disruption, with some big players reducing their staff numbers by around 20%. The crypto dip has hit everyone hard, and even the most well-known platforms are struggling to adjust. In contrast, Astra Protocol continues to grow despite the challenging landscape.
There has never been a more critical requirement for improved regulations in the crypto space. Several crypto platforms have filed for bankruptcy in the last few weeks. This event has been touted as crypto's equivalent to the fall of Lehman Brothers, which ultimately led to the 2008 mortgage debt and financial crisis. Wall Street had to adapt to overcome those difficult times, and the digital asset market must do the same. Astra Protocol is designed to facilitate these necessary changes through improved blockchain and crypto regulations. Astra is needed now more than ever to help prevent disreputable market behaviour, which is why the Astra team is constantly expanding.
As part of Astra's growth, they are also excited to announce two more incredible partnerships with Limechain and Concise Software. Limechain is a cutting-edge blockchain development consultancy that helps enterprises build on Web3 and blockchain technology. With over 150 projects under its belt, Limechain is one of the most experienced players in the space. Their experts have worked with notable Web3 platforms like Hedera Hashgraph, Polkadot, and AllianceBlock, and the team at Astra are thrilled to have them on board. Concise Software is another of the premier blockchain development software companies and has worked on some of the most influential digital projects with global companies like Visa and Santander. Like Limechain, they specialize in all facets of blockchain, from smart contracts to dApps. Their expertise will help bolster Astra's strong tech team even further as the Astra Protocol becomes vital to reinvigorate the crypto market.
On partnering with Astra, CEO and Founder at Limechain, Nick Todorov, said, "At Limechain, we are thrilled to be partnering with Astra and to be able to support them in their efforts to improve the DeFi sector's ability to comply with regulations and ensure investor protection. As one of the world's premier Web3 developers, we're looking forward to working with Astra to build industry-leading compliance products that will help DeFi achieve greater adoption."
CEO of Concise Software, Lukas Hostynski, said, "Working with partners like Astra Protocol helps match cutting-edge technology for Web3 Economy with the top-notch software development teams that focus on blockchain tech provided from Concise Software side. We're excited to work with a Web3 Compliance Solution partner with expertise in decentralized tech to bring these trusted, efficient solutions to the communities. We all believe that this collaboration will not only be a crucial project for Concise Software, but also important in accelerating the evolution of decentralized compliance layers (including KYC & AML) for DeFi markets."
Damien O'Brien, Co-Founder and Executive Chairman at Astra Protocol, says, "we're thrilled to have Concise Software and Limechain onboard, we've seen the success of their other projects and recognised that they are a perfect fit for Astra. With our combined expertise, strong advisory board, and technological knowledge, Astra is set to achieve its mission of becoming the compliance service platform for Web3."
Limechain and Concise Software will help Astra further their mission of making blockchain technology accessible to businesses and individuals worldwide and safer for all, creating an unrivalled Astra technology development team.
Astra believes these partnerships will be a major force in pushing Web3 and blockchain technology forward and out of this current slump. Astra is happy to announce that it's on course to launch in Q3 this year, in line with their goal.
While other blockchain platforms struggle to navigate the current challenges, Astra has been designed with a secure future in mind. By bridging the gap between innovation and regulation, Astra will make the digital asset market safe and prosperous while reducing volatility.
SOURCE Astra Protocol