Source: Chain Tea House
AltLayer is a decentralized elastic Rollup-as-a-Service (RaaS) protocol designed to provide a scalable second-layer solution for blockchain applications.
It uses a temporary extension layer, built on the basis of connecting to Layer 1 and Layer 2 networks such as Ethereum and Solana, to support multi-chain and multi-virtual machine functions, elastic convolution technology, code-free deployment, and decentralized coordination. This setup helps alleviate on-chain congestion and high transaction fees, allowing developers to quickly release application-specific convolutions.
As a restacked Rollup protocol, AltLayer sits within the modularity and restaking narrative, providing additional security, decentralization, and processing speed for Rollups in the crypto market, such as Op Stack, ZkStack, Arbitrum Orbit, etc.
AltLayer provides Rollup-as-a-Service for Web3 projects, in short, it is a tool that allows developers and non-programmers to create custom Rollups in 2 minutes with just a few simple clicks. AltLayer offers two main products: a versatile Rollup stack and a code-free dashboard.
In terms of technical narratives, the modularity trend is a technical narrative that is expected to have a significant impact on the future of blockchain, and has been developing since 2021, solving the cost problem of maintaining Rollup/Layer 2 operations through three parallel phases, creating easier and more industrialized Rollups (such as AltLayer and Dymension Rollup), and continuously launching new Rollups after solving cost issues and technical challenges. These phases are developing at different speeds in different project areas.
Among the products provided by AltLayer, Rollup-as-a-Service (RaaS) is a service that provides Rollup for Web3 projects, including three core services: heavy-staking Rollup, decentralized serialization, verification of Rollup state correctness, and faster finality, which contribute to the decentralization of Rollup, better security, and interoperability between Rollups. In addition, the code-free dashboard is a RaaS service for developers or users who have no experience in building Rollup-related code, allowing users to create execution layers and other related components such as serializers and block gas limits in just 5 minutes.
AltLayer has issued its native token ALT. Transaction fees, storage fees, and other services within the AltLayer ecosystem will be paid in its native token ALT, which is also used for governance and participation in consensus mechanisms to contribute to network security. Currently, the ALT token has been listed on the Bitget platform and is available for trading. By staking tokens, holders can not only earn staking rewards, but also participate in the decision-making process of the protocol, enhancing the security and governance of the entire network.
AltLayer's core mechanism is designed around its innovative Rollup-as-a-Service (RaaS) and restaked rollup technologies, which make it competitive in the blockchain industry, especially in terms of processing speed, security, decentralization and scalability.
Restaked Rollup is a core technology provided by AltLayer, which combines restaking and Rollup technologies to enhance the security, decentralization and performance of the blockchain.
This mechanism achieves its functions through the following aspects:
Definition
Restaked Rollup is a special Rollup architecture, the core of which is to use the concept of re-pledge to enhance the security and decentralization of Rollup. This type of Rollup not only handles ordinary transactions and smart contract operations, but also ensures higher data integrity and network trust through specific security enhancements and verification mechanisms.
Active Verification Service (AVS)
Restaked Rollup introduces Active Validation Services (AVS), which are pre-integrated and optimized to support efficient transaction processing and state verification.
These services include:
Decentralized sorting: Provide transaction sorting services for Rollup, reduce the risk of relying on a single point, and improve the decentralization of the system.
State correctness verification: Ensure that all state changes in Rollup are correct and improve the overall security of the system.
Fast finality: Quickly confirm transaction status through an effective verification mechanism, reduce transaction confirmation time, and improve the network's responsiveness and user experience.
Re-mortgage mechanism
In a Restaked Rollup, participants need to use their assets (such as ALT tokens) as collateral to participate in the security and operation of the Rollup. This pledge not only provides additional security for the network, but also allows pledgers to earn rewards while helping to ensure network security.
Modular Components
Restaked Rollup is designed with multiple modular components, allowing the entire system to more flexibly adapt to different application needs and expansion requirements:
Vital Mach Squad: This is a set of specially designed modules for processing and verifying transactions to ensure the high performance and high security of Rollup.
Versatile Rollup Stack: Provides multi-layer architecture support for Rollup, including settlement layer, transaction processing and verification layer, and data availability layer, enhancing overall scalability and flexibility.
Security and Decentralization
Restaked Rollup enhances security and decentralization through a variety of mechanisms:
Multiple validators: Instead of relying on a single validator, multiple validators participate in processing and verifying transactions, reducing the risk of centralization.
Fraud Proof System: When possible fraud is detected, the system can generate fraud proofs to provide the network with evidence of errors or malicious activities, further enhancing the security of the network.
These features of Restaked Rollup enable AltLayer to provide a secure and efficient Layer 2 solution, which is particularly suitable for blockchain applications that handle high throughput and require high security.
AltLayer's Rollup-as-a-Service (RaaS) is an innovative service designed to simplify and accelerate the deployment and management of Rollup technology. The core goal of this service is to enable developers to quickly and efficiently launch and run custom Layer 2 solutions, regardless of their technical background.
Here is a detailed introduction to several key aspects of AltLayer RaaS:
No-code interface
AltLayer's RaaS provides a user-friendly interface that enables users without any programming knowledge to deploy Rollups in minutes. This is achieved through a simplified graphical user interface (GUI) with preset options and templates, allowing users to configure and launch Rollups with simple clicks.
Modular architecture
AltLayer's RaaS functionality is based on a modular architecture, which allows users to customize different runtime layers, data availability layers, and settlement layers. For example, users can choose a runtime layer based on Ethereum Virtual Machine (EVM) or WebAssembly (WASM), combined with an internal or external data availability layer such as Celestia, and use Ethereum or other blockchain networks as a settlement layer.
Dynamic Scalability
AltLayer's Rollups are designed to be highly resilient and can scale dynamically based on application needs. This means that when demand increases (such as during large-scale airdrops or token issuance), Rollups can quickly expand their processing power, and when demand decreases, they can scale back accordingly, thereby optimizing resource usage and cost efficiency.
Security and Decentralization
AltLayer's RaaS enhances the security and decentralization of Rollup solutions by leveraging re-staking technology and a decentralized ordering mechanism. This includes using multiple independent validators to spread risk and improving the trust and security of validators through the re-staking function provided by the Eigenlayer protocol.
Fast Finality
RaaS speeds up the finality of transactions by providing an improved verification and ordering process. This is especially important for applications that require fast response times, such as online games and real-time trading platforms.
Multi-chain and Multi-environment Support
AltLayer's RaaS supports multi-chain deployment, which means that users can deploy and manage Rollups in different blockchain environments, including but not limited to Ethereum, Arbitrum, and other EVM-compatible networks. This provides developers with great flexibility, allowing them to choose the most appropriate underlying technology based on the specific needs of their projects.
Fraud Proofs and Enhanced Security
RaaS also includes a fraud proof system that allows any network node to notify the network when a potential fraudulent transaction is detected. This mechanism enhances the overall security of operations and improves the trust of all participants.
In summary, AltLayer's Rollup-as-a-Service (RaaS) aims to provide an efficient, secure and easy-to-use service to lower the technical threshold for deploying complex Layer 2 solutions, while providing the necessary flexibility and scalability to meet the needs of various application scenarios.
The ALT token is the native utility token of the AltLayer ecosystem.
It has multiple uses and functions, designed to support and incentivize the operation and development of the network:
Economic ties: ALT token holders can stake their tokens to participate in the consensus mechanism and receive rewards for protecting the network. This mechanism not only helps ensure the security of the network, but also slashes stakes when malicious activity is detected, further enhancing the network's resistance.
Governance: ALT token holders have voting rights and can participate in determining the direction of the protocol and operational strategies. This governance model promotes a decentralized decision-making process and allows community members to directly participate in the management and improvement of the AltLayer ecosystem.
Fee: Within the AltLayer ecosystem, all transaction fees, storage fees, and other service fees can be paid in ALT tokens. This includes everything from simple transactions to more complex operations such as contract execution, and this use of the token ensures its liquidity and practicality.
Incentive Mechanism: Operators and validators are rewarded with ALT tokens for providing network services. This mechanism incentivizes participants to keep the network active and secure while ensuring the quality and efficiency of services.
Through these functions, ALT tokens not only support AltLayer's technical infrastructure, but also promote community participation and the overall health of the ecosystem. By investing in ALT tokens, holders can not only benefit from the growth of the network, but also have an impact on the future of the ecosystem by participating in governance and other activities.
The total supply of ALT is 10,000,000,000 ALT; Binance Launchpool issuance is 500,000,000 ALT, accounting for 5% of the total supply; the team allocation is 1,500,000,000 ALT, accounting for 15% of the total supply; the investor allocation is 1,850,000,000 ALT, accounting for 18.5% of the total supply; the advisor allocation is 500,000,000 ALT, accounting for 5% of the total supply; the protocol development allocation is 2,000,000,000 ALT, accounting for 20% of the total supply; the ecosystem and community allocation is 1,500,000,000 ALT, accounting for 15% of the total supply 15%; the treasury allocation is 2,150,000,000 ALT, accounting for 21.5% of the total supply.
As of now, the latest price of ALT token is $0.5712. Its price has increased by about 0.53% in the past day, showing positive growth. The market capitalization of ALT token is $628,333,289, which ranks 131st among all cryptocurrencies.
AltLayer was founded by Jia Yaoqi, former co-founder of Zilliqa (the first blockchain network to implement sharding) and former general manager of Parity Asia (a blockchain infrastructure service company), and more than 20 members of his team.
AltLayer has also received more than $7.2 million in seed round financing from top funds and investors around the world, including Polychain Capital, Breyer Capital, Jump, Gavin Wood, etc. For example, in July 2022, AltLayer completed a $7.2 million seed round of financing. Led by Polychain Capital and Jump Crypto, well-known investors such as Polkadot founder Gavin Wood and former Coinbase CTO Balaji Srinivasan also participated. In August 2023, it also received investment from Binance Labs.
The AltLayer team has a strong background, with members from top projects in the blockchain field, and has a strong technical team and financial support.
Ethereum's liquidity and user traffic have brought huge ecological opportunities to the project, but high gas fees and on-chain congestion also plague the project experience and further development. AltLayer was born out of such a demand.
With the rise of the concept of modularity, especially as Celsetia Promise continues to obtain air investment qualifications for different projects, modular blockchains have received more attention.
AltLayer, as a decentralized and highly scalable L2 solution, may also achieve good development driven by the modular concept, so stay tuned.
In addition, AltLayer has attracted a considerable amount of market capitalization and is active on exchanges. This shows that it has a certain degree of liquidity and investor attention, which may be a positive signal for future capital growth and expansion.
Of course, as an emerging project in the field of cryptocurrency, AltLayer will face multiple opportunities and challenges in its future development:
Opportunities
Industry growth: With the popularization of blockchain technology and the maturity of the cryptocurrency market, the demand for high-performance and low-cost Layer 2 solutions continues to grow, which provides AltLayer with huge market opportunities.
Technological innovation: AltLayer's Restaked Rollup technology and RaaS platform have the potential to simplify complex blockchain operations and improve transaction efficiency, which will help attract developers and corporate customers.
Modular architecture: AltLayer's modular design supports different blockchain technologies and execution environments, enabling it to adapt to diverse market needs and technological developments.
Partners and ecosystem: By building partnerships and a healthy ecosystem, AltLayer can promote the wider adoption of its technology and tokens.
Governance and community participation: With the rise of decentralized finance (DeFi) and community governance models, AltLayer can leverage its decentralized nature to attract a wider range of participants.
Challenges
Intense competition: Competition in the blockchain space is very fierce, and many projects are developing Layer 2 solutions. AltLayer needs to stand out in this field.
Technical complexity: Although AltLayer's technological innovation has advantages, it may encounter performance and security challenges in actual applications.
Market volatility: The volatility of the cryptocurrency market may affect token value and project funding, posing a challenge to future stable development.
Regulatory risks: The regulatory attitudes towards cryptocurrencies in different regions around the world vary greatly, which may affect the operation and expansion of AltLayer.
User adoption rate: How to attract non-technical users and ensure the friendliness of the user interface and experience is crucial to the widespread adoption of AltLayer.
Security: Ensuring network security while maintaining scalability and efficiency will be one of the technical challenges that AltLayer must face.
In summary, AltLayer has many opportunities in its future development, but also faces many challenges. The success of the project will depend on how it takes advantage of these opportunities and how it responds to these challenges. The strategic decision-making, technical execution capabilities and flexibility of the project team to adapt to market changes will be key factors.
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