AltLayer (ALT) operates as a next-gen L2 roll-up protocol. The network helps developers integrate and create L2 solutions to expand their platform”s performance. Today, the network serves a vital role in reducing congestion and empowering developers to create complex applications that can serve multiple roles within the decentralized economy successfully. Here’s what you need to know about AltLayer.
What are Roll-Ups?
Rollup technology has been in use in the crypto market for years. This tech provides relief for congestion on the mainnet by creating another layer that supports the execution of computational actions. This structure enables developers to create immersive dapps that leverage more data and options without reducing performance.
Source – AltLayer
Optimistic Roll ups vs. Zk-Rollups
There are currently two types of roll-ups in use in the market, optimistic and Zk. These protocols continue to gain in popularity due to their efficiency and ease of use. Optimistic roll-ups assume that all the transactions on the blockchain ledger are correct unless a node challenges the assessment. This approach differs greatly from zk-rollups which assume that all the transactions are false.
Restaked Rollups
AltLayer introduces a third type of rollup that improves on its predecessors. Restaked roll-ups take existing protocols and integrate added features such as enhanced interoperability, functionality, and decentralization. Additionally, restacked rollups enable the use of new tokenomics models which can improve usability while producing better results for developers.
What Problems Does AltLayer Attempt to Fix?
AltLayer tackles some obvious issues head-on. For one, the platform helps to reduce scalability issues. Congestion on the blockchain has long caused headaches for users and developers alike. AltLayer offers a low-cost solution that can scale to meet the needs of the growing economy.
Lack of Performance
It has proven to be difficult to fit every style of dapp within a single rollup ecosystem. AltLayer provides developers with the opportunity to create app-specific Rollups that allow them to integrate proprietary tech to drive performance to new heights. These protocols can be set up to reduce latency and expand functionality for use in apps, games, and other web protocols.
Lack of Security
There remains a lack of security when discussing L2 solutions. Anytime you introduce another layer that handles mission-critical tasks, such as computations, there is a raised risk of failure due to hacks and other coding errors. AltLayer alleviates these concerns through the use of a variation of EigenLayer’s restaking mechanism. This approach ensures security and performance.
Lack of Privacy
The blockchain space is continually becoming more transparent. blockchain forensic firms, explorers, and other factors have made it easier for people to track your web3 movements in real time. Notably, roll-ups can help to obfuscate your transactions by enabling the approval of transactions without sharing any vital details between parties.
Benefits of AltLayer
There are many reasons why AltLayer users have seen great success. The platform provides a host of benefits that make it stand out in the competition. For one, it enables anyone to create, manage, and deploy advanced L2 roll-ups without the need to code.
Chain Agnostic
AltLayer is a chain agnostic L2 which means that it can be used across a huge selection of decentralized networks to improve scalability. The network already has projects that were spun from popular roll-ups including OP Stack, Arbitrum Orbit, ZKStack, and Olygon CDK. This strategy allows AltLayer to serve the most people possible while remaining secure.
Flexible
Another major benefit of AltLayer is its flexibility. The network supports the creation and enhancement of both optimistic and zk-rollup stacks. This decision enables developers to leverage advanced features from multiple networks simultaneously, driving innovation and usability to new heights.
Faster Finality
AltLayer transactions finalize in seconds versus the minutes it takes a mainnet to complete the same task. The improved finality makes the L2 an ideal selection for business models that require instant finality and scalability.
How Does AltLayer Work?
AltLayer leverages a modular scaling framework to improve interoperability and provide full configuration to developers. The system can work with all rollup stacks and provides on-demand services to the market. These services include developer tools and an effective testnet.
Ephemeral Rollups
Ephemeral rollups are the natural evolution of the technology. These proprietary systems enable developers to efficiently create application-specific roll-ups that have built-in time constraints. As such, you can create a rollup to handle a specific influx of users before self-destructing to the original network format and much more.
RaaS
AltLayer is a pioneer in the no-code Roll Ups-as-a-Service (RaaS) sector. The platform offers users access to a launchpad protocol designed to help with the creation of these systems. The multi-chain environment supports multiple virtual machines which adds to its usability and programmability greatly. This service is a great addition to companies seeing a web3 presence without the need to purchase hardware and learn complex software.
Token (ALT)
ALT is the utility token for the Alt Layer L2 ecosystem. This token serves multiple roles in the economy such as the main rewards token. Token holders can access the full suite of AltLayer tools including Xk rollup builders and other advanced options. Notably, ALT has a circulating supply of 1,100,000,000 coins and a max supply of 10,000,000,000.
How to Buy AltLayer (ALT)
Currently, AltLayer is available for purchase on the following exchanges.
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
The Kraken exchange offers trading access to over 190 countries including Australia, Canada, and Europe, and is our most recommended exchange for USA residents. (Excluding New York & Washington state)
Gate.io – This exchange was established in 2013 and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK. USA & Canadian residents are prohibited.
AltLayer (ALT) – A Smart Solution to Scaling Woes
The concept of creating a purpose-built L2 optimistic rollup ecosystem makes perfect sense. Dapps continues to get more complex and require more bandwidth. AltLayer enables these networks to enhance performance while meeting the needs of its growing user base. For these reasons and many more, AltLayer is a project to watch.
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