What is AltLayer (ALT)?
AltLayer is an open and decentralized rollup protocol that aims to provide increased security, decentralization, interoperability, and faster completion of existing rollups. It introduces the new concept of Restaked rollups, which combines the ease of creating rollups using popular rollup stacks with the power of EigenLayer's Restaking engine.
How does AltLayer (ALT) work?
The main innovation of AltLayer is the introduction of Restaked rollup. Essentially, they are a set of three vertically integrated Actively Validated Services (AVSes) created on demand for a given rollup. These AVS provide rollup validation, faster completion, and decentralized sequencing.
In addition, AltLayer offers an all-in-one, no-code RaaS platform that allows developers to create a custom roll-up in minutes. The RaaS product supports multiple networks, virtual machines, SDKs, sequencing services, and data availability levels.
AltLayer also introduces the concept of ephemeral rollups, which are resource-optimized rollups designed for dApps waiting for increased demand. These rollups can be quickly deployed, used as needed, and then disposed of, providing the benefits of both application-specific and general-purpose tier 1 solutions.
With these innovations, AltLayer delivers a system with truly decentralized verifiers and sequencers, reduced transaction completion times, a high degree of interoperability, and a relatively high level of flexibility and customizability.
AltLayer will distribute ALT tokens to its early adopters and supporters. The ALT token is the native utility token of the AltLaye ecosystem. It serves several purposes:
● Staking: ALT token holders can stake their tokens to participate in the consensus mechanism and receive rewards for securing the network. Staking will be reduced when malicious activity is detected.
● Governance: ALT token holders have voting rights that govern the development and operations of the protocol.
● Fees: Fees for transactions, storage and other services in the AltLayer ecosystem are paid in ALT tokens, and operators will receive a portion of them as incentives.#ALTrestaking $ALT
