AltLayer (ALT): A highly scalable application layer system that attracts industry attention
AltLayer (ALT) was launched on HotsCoin on January 25. AltLayer is a highly scalable application-specific execution layer system to ensure security at the underlying L1/L2 level. As a modular and pluggable framework, it is designed to adapt to multi-chain and multi-virtual machine (VM) environments. AltLayer's core feature is its system of multiple optimistic rollup-like execution layers (called flash layers), using an innovative approach that allows them to be used once, resulting in a high degree of resource optimization. ALT is currently open for trading on HotsCoin.
key events
2022-07-01
AltLayer successfully completed a $7.2 million seed round of financing.
2024-01-17
AltLayer was launched on Binance’s Launchpad and attracted widespread attention. In the past testnet stage, AltLayer received first-round financing from well-known VCs and institutional founders such as Jump Crypto, Polkadot founder Gavin Wood, and former Coinbase CTO Balaji Srinivasan.
AltLayer’s mission and vision
AltLayer strives to be a critical infrastructure within the Ethereum ecosystem, providing developers with a flexible, code-free Rollups-as-a-Service dashboard. This allows developers to quickly customize Rollups with fraud and zero-knowledge proofs, providing greater security and decentralization to the entire ecosystem.
AltLayer core products
VITAL: Active Validation Service (AVS), which allows operators to validate blocks and aggregate the status of sequencer submissions, ensuring fraud is challenged.
MACH: Provides faster finality by allowing operators to re-hold Ethereum-based assets, supporting the rollup state of any claim.
SQUAD: Provides decentralized sequencing to solve short-term activity problems, bad MEV, rent extraction and other issues.
AltLayer’s ecological partners
As a modular and pluggable extension solution, AltLayer has established partnerships with multiple protocols, including EigenLayer, RISC Zero, Cometh, Double Jump Tokyo, Injective, Avive, Deri, Automata, ALLO, etc. These partnerships will provide developers with a more flexible application space and expand the application of AltLayer in different fields.
ALT Token Economics
ALT is AltLayer’s native utility token and has multiple functions, including serving as economic collateral, participating in governance, protocol incentives, and paying for services within the network. The total supply of tokens is 10 billion, and the circulating supply after listing will be 1.1 billion (11% of the total supply). The distribution of ALT tokens covers Binance Launchpool, team, investors, advisors, protocol development, ecosystem and community.
Financing situation
AltLayer, founded by former Zilliqa CTO Yaoqi Jia, completed a $7.2 million seed round of financing in July 2022, led by Polychain Capital, Jump Crypto and Breyer Capital. AltLayer has received multiple rounds of investment during its development, proving the extent to which it has received industry attention.
Conclusion
AltLayer attracts attention for its highly scalable execution layer system and deep cooperation with multiple protocols in the ecosystem. Its vision is to become the key infrastructure of the Ethereum ecosystem, creating more application space for developers by providing modular and pluggable solutions. The design of token economics enables ALT to play multiple roles in the ecosystem and motivate network participants to actively participate. With the success of financing and the development of the ecosystem, AltLayer is expected to play an important role in the blockchain field.