What is AltLayer (ALT) Coin?

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23 Jan 2024

AltLayer is a decentralized and open-source protocol designed for Optimistic and zk-Rollups. It aims to significantly increase the transaction capacity and solve the scalability problem of main chains like Ethereum, which forms the backbone of Web3. This makes faster, cheaper, and more secure transactions possible.

AltLayer is a decentralized and open-source protocol developed for Optimistic and zk-Rollups. It aims to significantly increase the transaction capacity of main chains such as Ethereum, which underpins Web3, and solve the scalability problem. This enables faster, cheaper and more secure transactions.

Using Optimistic and zk-Rollup technologies, AltLayer is capable of processing thousands of transactions per second. This is many times more than Ethereum’s current transaction capacity. Furthermore, AltLayer aims to significantly reduce transaction fees through Layer 2 solutions.

Basic Properties of AltLayer:

-High Processing Capacity: Ability to process thousands of transactions per second with Optimistic and zk-Rollups.

-Low Transaction Fees: Significantly lower transaction fees with Layer 2 solutions.

-Increased Security: Providing a high level of security through smart contracts and participant validators.

-Improved Interoperability: Enabling seamless transfer of data and funds between different Rollups.

-Restaked Rollup: A new Rollup innovation that offers increased security, efficiency and incentives for stakers.

Benefits of AltLayer:

*For DApp Developers: Develop next generation DApps with faster and cheaper processes.

*For Users: A better user experience with faster and cheaper transactions.

*For Stakers: Providing network security and earning rewards by staking.

Reconfigured Rollups of SubLayer: VITAL, MACH and SQUAD

Restaked Rollups is a common framework for application-specific rollups that leverages EigenLayer’s rebuild mechanism. It offers enhanced security, decentralization, interoperability and crypto-economically fast finalization.

AltLayer’s core offering of reconstructed rollups consists of three core products:

1. VITAL (Actively Verified Service):

A system where operators verify blocks and related states processed by the rollup sequencer.

Increases fraud proof challenges if needed.

Provides higher security and decentralization.

2. MACH (Fast Accuracy Protocol):

Provides faster certainty to rollups by allowing operators to reclaim Ethereum-based assets.

Supports all assertions regarding rollup status.

Ensures fast and secure transactions.

3. SQUAD (Decentralized Queuing):

Offers economically supported decentralized queuing in the protocol.

Eliminates short-term viability concerns, bad MEV, and other issues associated with rollups running with a single sequencer.

Provides a fairer and more equal rollup environment.

Advantages of Restaked Rollups:

More Secure VITAL provides higher security by increasing fraud proof challenges.

-More Decentralized: SQUAD offers decentralized ranking, providing a fairer and more equal rollup environment.

-More Interoperable: Seamlessly transfer data and funds between different rollups.

-Faster: MACH brings faster finality to rollups, enabling faster and more secure transactions.

Projects Using AltLayer

There are several startups that benefit from the services provided by AltLayer, spanning various domains such as gaming, decentralized finance (DeFi) and other applications.

Double Jump Tokyo: A Japanese blockchain game development studio, Double Jump Tokyo has collaborated with key partners such as SEGA, Bandai and Ubisoft. They own game IPs such as Sangokushi Taisen.

Cometh: Based in France, Cometh is a game studio with a history of working with prestigious clients such as La Française des Jeux (FDJ), Lacoste, FanLive Rugby and Life Beyond Studios for web3 requirements.

Oasys Oasys is a gaming-optimized blockchain that offers a highly scalable Layer 1 hub and private Layer 2 using Ethereum’s Layer 2 scaling solution. Notable validators include gaming and Web3 leaders such as SEGA, Ubisoft and Yield Guild Games.

Avive: Avive is a geosocial protocol that connects millions of users from over 130 countries on the Alive L2 platform with Proof of Network consensus.

Deive Protocol: Positioned as the DeFi solution for trading derivatives, the Leather Protocol facilitates on-chain hedging, speculation and arbitrage. Transactions follow the Automated Market Maker (AMM) paradigm and positions are tokenized as NFTs, which ensures a high level of combinability with other DeFi projects.

Automata: Automata, a blockchain middleware service provider, is backed by Binance Labs, Jump Crypto and others. They recently launched a modular validation layer for off-protocol computation that performs fully on-chain validation.

ALLO: The Allo protocol is involved in developing innovative applications between programmable funds, tokenizing, trading and staking real-world assets. It serves as an extension of Allocations, a fund management platform that currently has over $1 billion in assets under management.