What is AltLayer and ALT Coin?

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. What is AltLayer?
  2. ALT Coin Review
  3. How to Buy ALT Coin?


    4. AltLayer is a public and fully decentralized protocol that can be used for rollups. This article explores the Restaked Rollups concept, what ALT coin is, and how to purchase it.

    What is AltLayer?

    AltLayer is a public and fully decentralized protocol that facilitates the launch of both native and Restaked Rollups using Optimism and ZK rollup stacks. AltLayer offers an innovative rollup framework called Restaked Rollups, which leverages EigenLayer's economic stake on Ethereum to bootstrap trustless network launches. The core offering of AltLayer includes Restaked Rollups supported by three main products: VITAL, MACH, and SQUAD.

    - VITAL: Actively Verified Service (AVS) where operators verify blocks and states processed by the rollup sequencer, raising fraud proof challenges if necessary. - MACH: A protocol that accelerates rollup finality by allowing operators to withdraw Ethereum-based assets. - SQUAD: Provides economically backed decentralized sequencing, eliminating short-term liveness concerns and bad MEV.

    ALT Coin Review

    ALT Coin is the native token of the AltLayer network. As of January 17, 2024, the total supply of ALT Coin is 10 billion, with 1.1 billion in initial circulation post-listing on Binance. ALT Coin serves various functions including economic staking, governance, protocol incentives, and payment for on-chain services.

    - Economic Staking: ALT Coin is used alongside restaked assets for economic staking, which can be slashed for malicious behavior. - Governance: ALT Coin holders can participate in governance decisions. - Protocol Incentives: Operators in the AltLayer ecosystem earn ALT Coin as rewards for their services. - Protocol Fees: Network participants pay for on-chain services using ALT Coin.

    How to Buy ALT Coin?

    ALT Coin can be securely bought and sold on Binance, the largest cryptocurrency exchange by trading volume. ALT Coin will be available for trading from January 25, 2024, in ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY trading pairs.

    To purchase ALT Coin, first register on Binance if you don't have an account. After completing the registration, transfer cryptocurrency or fiat money like USD to your Binance wallet. Once the transfer is complete, you can purchase ALT Coin from one of the mentioned trading pairs.

    AltLayer represents an advanced decentralized protocol with the innovative Restaked Rollups framework. ALT Coin is crucial to this ecosystem, serving functions in staking, governance, and payment for services. Purchasing ALT Coin is facilitated through the major cryptocurrency exchange Binance.

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