#Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a strategic investment in ALTLAYER, a provider of Rollup (RaaS) as a decentralized Service for Web3 applications (RaaS).
The size of the investment has not been made public.
According to the press release, AltLayer is an open and decentralized protocol for developers to launch highly scalable application-specific rollups. It consists of a core network called the Beacon Layer, which serves as a common sorting, execution, and validation network for all the rollups connected to it.
Building on this protocol, AltLayer offers a Rollup launch area as a code-free Service that allows not only developers, but novices and all users to create a customized rollup in 2 minutes with just a few simple clicks.
Binance Labs Chief Investment Officer Nicola W. he said the following on the subject:
"Application-tailored rollups offer the security of Layer 1s and the customizability of application chains. However, a common problem with rollups today is that they mostly work with centralized sorters and create fragmented liquidity and user base.
We found ALTLAYER's approach to facilitating the release of application-specific rollups through the Beacon Layer inspiring. Core networks offer a variety of decentralization and interoperability features that are much needed in a world of thousands of rollups. All this significantly reduces the time to Sunday, while also encouraging rapid innovation and experimentation.â
*It is not investment advice. #CzBinance #BTC