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Home > News
Published: 28/03/2024
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Author: Kane
AltLayer Introduces ALT Staking Feature
AltLayer, the restaking platform developed on EigenLayer, has introduced the staking feature for its native token, ALT. This marks a significant milestone for the project.
Azcnews Breaking
After a long-awaited period, AltLayer – a pioneering decentralized infrastructure project providing solutions to support the rapid and flexible deployment of decentralized applications on various rollups – officially launched its staking feature for the native ALT token. This milestone is considered a crucial step in the project’s development roadmap.
AltLayer is built with the goal of compatibility and support for multiple rollup SDKs and various shared sequencing services such as OP Stack, Arbitrum Orbit, Polygon zkEVM, zkSync’s ZK Stack, StarkWare, Espresso, and Radius. This enables the platform to meet the deployment needs of decentralized applications on different types of rollups from developers flexibly and efficiently.
In late 2023, AltLayer collaborated with EigenLayer to introduce a new and innovative Restaked Rollup model. This model aims to decentralize the Sequencer network by reallocating MEV (Maximal Extractable Value) operations, accelerate finality, and restructure the profit-sharing model to optimize the data availability from pioneering projects in the field such as Celestia and Avail.
Entering 2024, AltLayer distributed the native ALT token through an airdrop to the community. However, the staking feature for ALT is crucial to unlock circulation and allocation of this token, and it was officially launched on March 27, marking the beginning milestone for MACH Alpha.
MACH Alpha is a fast finality service specifically designed for applications deployed on Layer-2 rollups to enhance security and scalability for these applications. According to the development team, the launch of the ALT staking feature will pave the way for the launch of MACH Alpha – a positively finality verification service being developed on the EigenLayer platform. MACH Alpha will leverage EigenLayer’s restaking mechanism to enhance the overall network security. It is expected that MACH Alpha will support OP Mainnet and Arbitrum One immediately upon its launch alongside the EigenLayer mainnet.
With the inauguration of the ALT staking feature and the launch of MACH Alpha, AltLayer once again affirms its pioneering position in providing efficient and reliable infrastructure, allowing developers to focus on building powerful, diverse, and highly scalable decentralized applications on Layer-2 rollups.
Related: AltLayer (ALT) Initiates Airdrop Claim and Achieves Binance Listing
Price fluctuations of Altlayer (ALT)
Following this announcement, the price of the ALT token has not fluctuated significantly and is currently hovering around the $0.6 mark.
ALT chart on March 28, 2024, on TradingView.
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#AltLayer
5.0/5
(2 votes)
Avatar of Barnabas Iordye
Barnabas Iordye
28/03/2024 at 4:45 am
I’m proudly part of the project🥰
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