Frequently Asked Questions
What problems are Astrochain addressing?
Astrochain has identified multiple problems. These are:
• The ability for individuals to protect Astro digital assets (image and video content)
• Low availability of credible data surrounding space anomalies for global distribution
• Centralised government platforms are proven to be unreliable and opaque
• There is no current platform for specialist space enthusiasts to come together, other than generic social media sites
What solution is Astrochain providing to address the identified problems?
The first two features to arrive on the dApp address all the identified problems. The NFT Social Feed gives the creator proof of ownership of the content within the NFT they have minted. Captured footage and data from our Astro Hub devices allow us to build the first Astro anomaly database on the blockchain. All NFTs have a content identifier which allows us to search and find the content within all NFTs we produce which can never be removed, edited, or destroyed.
What is the blockchain?
The Blockchain is an immutable system of recording person-to-person transactional information without the need for centralized authorities, governments, banks etc. It's virtually impossible to change, hack, or cheat the system.
What is an NFT?
Non fungible tokens are individual tokens with valuable information stored in them. They hold a value primarily set by market and demand. NFTs unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners on the Blockchain.
What is an IPFS network?
The interplanetary File System is a distributed storage network where people and apps are storing and sharing data like files, websites, applications, images, and videos. As each Astrochain NFT has a content identifier, we can use our Astro Anomaly database in conjunction with the IPFS network to search and access the content within the NFTs for scientific research.
What is a smart contract?
Smart contracts are simple programs stored on the blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement (in our case, the NFT). The smart contract creates the template let’s say, things like royalties and the instruction for the NFT to be bought and sold on the Blockchain. We add your content to the predetermined conditions of the smart contract and an NFT is created.
What are NFT royalties?
The content creator or original artist of the NFT earns royalties through subsequent sales. For example, you sell your NFT on a marketplace, royalties are distributed from the sale as this is written in the smart contract. If the NFT is sold again to another person, royalties are distributed from the sale, and so on and so forth.
What Royalties can I add to the content I upload on the NFT Social Feed?
Built into the smart contract is a base royalty of 3.5%. This royalty is executed at the point of sale and distributes to Astro Chain and holders of our Astro Token Card NFTs. You can add your own royalty of 1 – 4.5% during the minting process. The maximum amount of royalties on any individual Astro Chain NFT minted via the NFT Social Feed is 8%. The global average of royalties per NFT on the market usually ranges anywhere between 5-10%.
Where can I find the Astro Anomaly database?
The Astro Anomaly database is currently under development with the aim for it to be live as soon as our first 10 Astro Hubs are deployed. The Astro Chain Centre platform will be very user friendly, easy to navigate, search and extract the data for scientific research. When the platform is live, we will make a huge announcement across all our socials. Make sure you are in the Astro Chain Discord server for updates on the launch. To join the Discord Server Click Here
What does the future hold for Astrochain?
We have many plans for the expansion of the Astrochain brand across the globe. Firstly, ensuring the Astro-anomaly database works as it should with AstroHubs and 3rd party devices connected to the AApp. Becoming a trusted source for raw and unedited Astro-anomaly data for scientific research for current and future generations is paramount.
We then have the development of our Astrochain Center. An educational, web3 integrated platform that will be accessible to all. This will be an exciting and interactive platform designed for easy learning and to provide downloadable content. By year 5, we expect to start building a physical Astrochain Center, which will support local communities in their quest to learn more about Astronomy and the Blockchain through a variety of online and practical courses.