AltLayer is a decentralized and resilient Rollup-as-a-Service (RaaS) protocol that was developed with the intention of offering a scalable second-layer solution to alleviate on-chain congestion and the exorbitant cost of transactions.
In order to improve security, decentralization, and processing speed, AltLayer makes use of the modular concept and the restaking mechanism. Rollup services are provided, enabling users to rapidly develop customized Rollups. Additionally, it supports multi-chain and multi-virtual machine operations.
Restaked Rollup and RaaS are two of the fundamental technologies that AltLayer offers. RaaS is a technology that facilitates the deployment of Rollup by providing a code-free interface.
Additionally, AltLayer has created the native token ALT, which is utilized for the purpose of paying for fees, governance, and consensus mechanisms inside the ecosystem.
One of AltLayer's products, Rollup-as-a-Service (RaaS), offers Rollup services for Web3 projects. These services include re-staking Rollup, decentralized serialization, verification of Rollup status correctness, and more Fast finality. As a result, Rollup is decentralized, more secure, and can communicate with other Rollups.
Furthermore, developers or users without prior knowledge of Rollup code can utilize the Codeless Dashboard, a RaaS service, to construct execution layers and associated components like sequencers and block gas restrictions in a matter of minutes.
The AltLayer native currency, ALT, has been issued. The AltLayer ecosystem's transaction fees, storage fees, and other services will all be paid for with its own token, ALT. ALT is also used for governance and to take part in consensus processes that help keep the network safe.
People who own tokens can stake them to not only get staking benefits but also have a say in how the protocol is run, which makes the network safer and more well-governed.
Core Mechanism
The main principles of AltLayer are developed around its innovative Rollup-as-a-Service (RaaS) and restaked rollup technologies. These technologies allow AltLayer to compete in the blockchain sector, particularly in terms of processing speed, security, and decentralization. There are aspects of centralization and scalability.
ALT Token
Tokens that are native to the AltLayer ecosystem are referred to as $ALT ALT tokens.
Has a variety of functions and characteristics that are intended to encourage and facilitate the operation of the network as well as its expansion: Economic ties, governance, fees, and incentive mechanisms are all important.
In addition to providing support for AltLayer's technical infrastructure, the ALT token also encourages community participation and contributes to the overall well-being of the ecosystem through the aforementioned benefits.
In addition to reaping the benefits of the expansion of the network, holders of ALT tokens have the opportunity to participate in governance and other activities, which will allow them to have an influence on the development of the ecosystem.
Team / Financing Situation
Jia Yaoqi, who was the general manager of Perity Asia (a blockchain infrastructure services company) and co-founder of Zilliqa (the first blockchain network to use sharding), and more than 20 members of his team started AltLayer.
Top funds and investors from around the world, such as Polychain Capital, Breyer Capital, Jump, Gavin Wood, and others, have also given AltLayer over $7.2 million since its launch. Like, in July 2022, AltLayer finished a US$7.2 million seed round of funding. Famous investors like Gavin Wood, founder of Polkadot, and Balaji Srinivasan, former CTO of Coinbase, joined the group led by Polychain Capital and Jump Crypto. The company also got money from Binance Labs in August 2023.
For example, some members of the AltLayer team have worked on some of the biggest blockchain projects. The team also has a strong technical team and financial backing.
#DYOR The article contains the author's singular views and opinions, which should not be considered investment advice.
