What is AltLayer (ALT)?
AltLayer is an open and decentralized protocol for rollups that aims to provide enhanced security, decentralization, interoperability, and fast finality to existing rollups. It introduces the novel concept of Restaked rollups, which combines the ease of spinning up rollups using popular rollup stacks with the power of EigenLayer's restaking mechanism.
How does AltLayer (ALT) work?
AltLayer's core innovation is the introduction of Restaked rollups. These rollups are essentially a set of three vertically integrated Actively Validated Services (AVSes) created on-demand for a given rollup. These AVSes offer verification of rollups' state correctness, faster finality, and decentralized sequencing.
Apart from that, AltLayer also offers a versatile, no-code RaaS launchpad that allows developers to spin up a customized rollup within minutes. The RaaS product supports multiple chains, virtual machines, rollup SDKs, sequencing services, and data availability layers.
AltLayer also introduces the concept of ephemeral rollups, which are highly resource-optimized rollups designed for dApps expecting a surge in demand. These rollups can be quickly spun up, used as needed, and then disposed of, providing the benefits of an application-specific rollup and a general-purpose Layer 1.
With these innovations, AltLayer presents a system with truly decentralized verifiers and sequencers, reduced time for transaction finalizations, strong interoperabilities, and a relatively high level of flexibility customizability.
AltLayer will airdrop ALT tokens to its early adopters and supporters. The ALT token is the native utility token of the AltLayer ecosystem. It serves several purposes:
Economic bond: ALT token holders can stake their tokens to participate in the consensus mechanism and earn rewards for securing the network. Stakes will be slashes at detection of malicious activities.
Governance: ALT token holders have voting rights that govern the protocol's development and operations.
Fees: Transaction fees, storage fees, and other services within the AltLayer ecosystem are paid in ALT tokens and operators will receive a portion of these as their incentivizations.
ALT goes live on Bitget
AltLayer is a promising project that aims to revolutionize the rollup landscape by providing enhanced security, decentralization, interoperability, and faster finality. Its Restaked rollups and RaaS platform offer a unique and compelling solution for developers looking to launch their own rollups. With its strong team and ambitious roadmap, AltLayer has the potential to become a major player in the blockchain industry.
AltLayer (ALT) is now listed on Bitget and available for trade.
