What is Altlayer Crypto?

What is Altlayer Crypto?

The AltLayer protocol introduces a decentralized and open approach to rollups. It incorporates a groundbreaking concept known as Restaked rollup, designed to elevate the security, decentralization, interoperability, and crypto-economic fast finality of existing rollups derived from various stacks like OP Stack, Arbitrum Orbit, ZKStack, Polygon CDK, and others.

AltLayer stands out by combining the simplicity of creating rollups with the powerful security enhancements facilitated by EigenLayer’s restaking mechanism. This integration results in a more secure, decentralized, and efficient network, positioning AltLayer as a trailblazer in the field of blockchain protocols.

Restaked Rollups

Restaked Rollups, an innovation by AltLayer, enhance rollups by incorporating EigenLayer’s restaking mechanism for increased decentralization, security, interoperability, and efficiency. These rollups feature three key services:

VITAL (Decentralized Verification): Ensures the correctness of the rollup’s state through decentralized verification, engaging the community in handling fraud and Zero-Knowledge (ZK) proofs, providing robust, L1-level security guarantees.

MACH (Fast Finality): Offers fast finality, reducing transaction finality time from the typical 13 minutes on L1 networks to under 10 seconds.

SQUAD (Decentralized Sequencing): Decentralizes the sequencing process, involving the community as sequencers and stakers. This reduces single points of failure, increases the utility of rollup tokens, and mitigates censorship risks.

Research Collaborations

AltLayer collaborates with key players in the Ethereum space like OP Labs, RISC Zero, and EigenLayer, focusing on MEV, decentralization, security, and privacy challenges.

Projects Using AltLayer:

Double Jump Tokyo: Japanese blockchain game developer with collaborations with SEGA, Bandai, and Ubisoft.

Cometh: French game studio, known for serving clients like La Française des Jeux (FDJ), Lacoste, and FanLive Rugby.

Oasys: Game-optimized blockchain with SEGA, Ubisoft, and Yield Guild Games as validators.

Avive: World’s largest geosocial protocol, uniting millions of users globally.

Deri Protocol: DeFi platform for on-chain derivatives trading.

Automata: Blockchain middleware service with on-chain attestation.

ALLO Protocol: Building applications for programmable funds, tokenizing real-world assets, trading, and staking.

Tokenomics

Token Information
Total Supply	$ALT token has a total supply of 10 billion.

Circulating Supply at Listing
Initial Listing Circulating Supply	1.1 billion ALT (11% of total supply)

 

Token Distribution
Treasury	21.5%
Protocol Development	20%
Investors	18.5%
Team	15%
Ecosystem and Community Development	15%
Advisors	5%
Binance Startup Team	5%

 

Key Features of ALT Token

The AltLayer’s native utility token, ALT, plays a crucial role in the ecosystem, serving various functions to enhance its operations and growth. Here’s a detailed overview of the unique roles performed by ALT:

Economic Bond:

• ALT collaborates with restaked assets, forming a robust economic bond.
• This bond acts as a deterrent, with the potential for slashing in cases of identified malicious behavior.

Governance Authority:

• ALT token holders exert substantial influence through voting rights in governance decisions.

Protocol Incentives:

• Contributors and operators in the AltLayer ecosystem receive rewards in ALT tokens for their valuable services.

Protocol Fee Currency:

• ALT tokens are the designated currency for settling protocol-related fees among network participants.

Key Takeaways

1. Restaked Rollups: AltLayer introduces Restaked Rollups, incorporating EigenLayer’s restaking for heightened security, decentralization, and efficiency in blockchain protocols.
2. VITAL, MACH, SQUAD: The trio of services—VITAL for decentralized verification, MACH for fast finality, and SQUAD for decentralized sequencing—ensures robustness, quick transaction finality, and community involvement in sequencing.
3. Research Collaborations: AltLayer collaborates with Ethereum space leaders like OP Labs, RISC Zero, and EigenLayer, addressing challenges in MEV, decentralization, security, and privacy.
4. Projects Using AltLayer: Notable projects like Double Jump Tokyo, Cometh, Oasys, Avive, Deri Protocol, Automata, and ALLO Protocol leverage AltLayer’s capabilities.
5. Tokenomics: ALT token, with a total supply of 10 billion, holds diverse roles—economic bond, governance authority, protocol incentives, and the designated currency for protocol-related fees.
6. Rollup-as-a-Service (RaaS): AltLayer introduces RaaS, a user-friendly toolbox allowing developers to launch application-specific rollups without intricate code management, enhancing creativity and efficiency.

What is Rollup-as-a-Service (RaaS)?

Rollup-as-a-Service (RaaS) is like a user-friendly toolbox for developers to effortlessly launch application-specific rollups. Whether using SDKs or a simple dashboard, developers can create customized rollups without dealing with the complexities of node management or intricate code maintenance. RaaS allows developers to concentrate on the creative aspects of their applications, making the process straightforward and efficient.

Conclusion

AltLayer (ALT) is leading the way in changing how blockchain works, especially in the field of rollups. With its advanced technology and important partnerships, AltLayer is set to make a big impact on the blockchain scene.

In simple terms, AltLayer brings new ideas like Restaked Rollups and a user-friendly Rollups-as-a-Service (RaaS) platform. These innovations not only improve existing rollup solutions but also make it easier for developers to create and manage their rollups for specific applications. This approach puts AltLayer in a key position to shape the future of blockchain technology.