What is AltLayer? What are the highlights of the project that has received support from huge investment funds in the crypto market?
Let’s find out with CryptoChill.news!
What is Altlayer?
AltLayer is a flexible, decentralized rollup-as-a-Service (RaaS) project specifically designed for application developers who aspire to deploy highly scalable L2 projects.
AltLayer makes it easy and efficient to create and manage the right execution classes for Layer 2 applications. Building on the RaaS platform, AltLayer provides a solution for developers who want complete control over their creation and aggregate management. Along with that, the project provides a friendly console with no need for a single line of code, so even those with no experience can create and customize the execution layer in a short time.
Currently, the project is in the Testnet stage; you can refer to the article below to have the opportunity to hunt for an airdrop.
Outstanding features of the project
Rollup-as-Service (RaaS)
Rollup-as-a-Service (RaaS) is a solution for creating application aggregations easily and acting as a type of service. This frees the participating projects from the complexity of managing software and hardware. With this rollup mechanism, users can also benefit from the scalability of the system.
AltLayer’s Rollup-as-a-Service (RaaS) product includes the following key features:
- The sequencer’s network sharing framework, AltLayer, uses a network of public nodes. These nodes serve as sequencers for user-initiated rollups via AltLayer’s RaaS. This means that users do not have to manage these buttons themselves, which simplifies administration for the developer.
- Codeless Control Panel: AltLayer offers a user-friendly control panel that requires no coding skills. This tool allows both developers and individuals to deploy projects within 5 minutes with a few simple clicks. Customization options include network-level parameters such as the number of sequencers, gas charges, or contract size.
- SDK for Rollup Deployment: For developers who prefer a more direct integration approach, AltLayer offers a Software Rollup Development Kit (SDK) alternative to the no-code console.
Proof of fraud
AltLayer has successfully integrated fraud proofs into its system, allowing any participant in the network to detect false state transition operations. This means that if an incorrect state switch is determined, any network participant can issue a rebuttal to the sequencer who wrote that block data on Layer 1.
Stratification
AltLayer uses a new approach to block finishing. The project introduces a cascading system with three levels of completion: the Execution layer, the verification layer, and the rollup layer.
At the Execution level, transactions are collected and packaged into blocks with consensus among block producers.
A different group of verifiers conducts the verification process at the verification layer.
The final level, – Rollup, is achieved after consensus among a large number of verifiers and opens a probationary period. Here, anyone can question the validity of the block. AltLayer’s layered approach allows users to choose verification process launches and participate in them based on their security budget while ensuring transaction integrity and confidentiality.
Beacon Layer
The Beacon Layer acts as an intermediary for all rollups created through AltLayer.
The Beacon Layer in AltLayer is capable of directly validating the status of any rollup initiated through AltLayer.
Token Overview
AltLayer’s official token is a $ALT token, although the project’s token is still in the Testnet stage.
Token metrics
Updating…
Token allocation
Updating…
Token utilities
AltLayer’s token has only announced the staking function; other utilities will be updated by us as soon as possible.
Roadmap
Updating…
Project Team
AltLayer’s development team includes names who have a lot of experience working on Zilliqa, an infrastructure blockchain platform. In addition, some people have also experienced Huobi again.
Investors and partners
AltLayer has two funding rounds. The Seed Round invested $7.2 million from various investment partners, including large investment funds such as Jump Crypto, Polychain Capital, and Kain Warwick, co-founder of Synthetix.
In the next funding round, the project also received investment from Binance Labs in August this year.
What are the benefits that AltLayer offers?
AltLayer brings the following values:
- Flexible interface
- Low cost
- Ability to implement projects quickly
- Multiple supported chains
- Confidentiality
How do I get faucet tokens?
- You can request Sepolia ETH from faucets like the Sepolia faucet or the Quicknote faucet.
Judge
AltLayer is a flexible, decentralized Rollup-as-a-Service (RaaS) project designed for developers of highly scalable Layer 2 applications. This project makes it easy to create and manage execution classes for Layer 2 applications. With the support of a public sequencer network, AltLayer simplifies administration and deployment.
The project offers a friendly dashboard that requires no coding skills, allowing both developers and beginners to start implementing the project in a short time. In addition, AltLayer provides an SDK for Rollup deployment for developers who prefer direct integration.
The project integrates evidence of fraud into the system to detect false transitions. AltLayer uses stratification with three levels of finishing: Execution, Verification, and Rollup. The Beacon Layer acts as an intermediary for rollups and is capable of validating the status of rollups.
AltLayer’s main token is $ALT, which is in the Testnet stage and currently only supports staking. The project has attracted investment from various partners, including big names like Jump Crypto, Polychain Capital, and Kain Warwick, co-founder of Synthetix. The project has also received investment from Binance Labs in a future funding round.
Contact
Website: https://www.altlayer.io/
Twitter: twitter.com/alt_layer
Discord: https://discord.com/invite/altlayer
Telegram: https://t.me/altlayer
Summing up
Through the above article, CryptoChill has helped you know about AltLayer and the highlights of the project.
Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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