These small and very cheap alt coins are about to be catapulted into the mainstream when they launch over the next few months. Right now Polkadot is going through its para chain auctions, which is the process of deciding which projects will have the privilege of actually launching their Decentralized Apps and blockchains on top of the polkadot ecosystem. And this is no doubt the most important time ever in polkadot history.
Moonbeam Network.
This is one of the first Para chains on polka dot and possibly one of the most important and will be part of a smart contract platform that enables developers to build out and interact with smart contracts on polkadot. The PolkaDot base layer doesn't actually run any smart contracts so we'll need a specific para chain to do this moonbeam which will be EVM compatible, that is to say Ethereum developers can basically port over their applications right into the polkadot ecosystem without any hustle or extra cost since it allows developers rewrite in their codes which is a huge deal for polkadot with Ethereum having the most percentage number of developers.
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Moonbeam will also support integrations for Ethereum ERC 20 tokens and existing infrastructure hence this network is a vital tool that will enable polkadot plug into the biggest defi ecosystem on the planet. All of the best Ethereum applications that are running right now on Ethereum network will have an easy way to use polka. The back end of their applications may possibly lower costs and also through lending access to the polkadot ecosystem. There'll be 1 billion GLMs tokens issued and about 38% of that going to investors. From a developer's point of view, it will enable many problems of polkadot, including Ethereum and Cosmos, but from a user's perspective they'll be able to manage their balances on many polkadot apps all in one place and stake their coins across multiple apps.
Astar
The description of Astar as a DAPP hub will let end users have an easier and more palatable way of using polkadot and all of the apps built on top. There'll be 7 billion ASTR tokens with 15% going to the team and investors. Although 30% is also in the hands of other investors already, after Astar went through a fundraising that they called a lock drop. There's many different names for what they're calling a lock drop. But basically, it lets people invest by using their Ethereum tokens and locking it up for a certain period of time. And then after that, they get some new ASTR tokens as their investment and Astar basically sells that Ether for donors to fund their business.
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Litentry
This is a decentralized identity protocol which could serve a very important role in the blockchain. The blockchain will in time have everything on it, that is, stolen college diplomas, credit history, credit scores, insurance and our employment history in the future. When you want a loan, you'll be able to apply instantly and use your decentralized identity to prove your credit worthiness. You won't have to reveal your identity as an app like this will let you prove your credentials without fully revealing all of your sensitive personal info on life. They do this by using something called IDs or digital identifiers, and this will keep your info secure whilst also letting you use it for your own benefit.
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People will pay fees to the network for sending transactions across it so LIT tokens will be needed and partners and stakeholders will participate in getting some of those fees as rewards. There's 10 million LIT tokens already in existence as an ERC 20 token on the Ethereum network as they were launched by Binance Launchpad a while back with 25% in private hands already, which isn't too bad for a project of this type.
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