AltLayer (ALT) is an innovative protocol designed to enhance the security, decentralization, interoperability, and speed of existing rollups, leveraging EigenLayer’s restaking mechanism. Features like restaked rollups and a no-code RaaS launchpad offer developers customized and flexible rollup solutions. The ALT coin incentivizes users within the ecosystem by being used for staking, governance, and fee payments. In this article, you can find answers to two frequently asked questions: what is AltLayer (ALT) and how to buy AltLayer (ALT) with TRY.
What is AltLayer (ALT)?
AltLayer is an innovative, open, and decentralized protocol designed to enhance the functionality of existing rollups. Rollups are a Layer-2 scaling solution that aggregates multiple transactions into a single batch and processes them on the main Blockchain. AltLayer aims to enhance the security, decentralization, interoperability, and speed of these rollups through its unique Restaked rollup concept. The protocol leverages EigenLayer’s restaking mechanism to provide a powerful and efficient solution for rotating rollups.
The cornerstone of AltLayer’s technology is Restaked rollups. These rollups include three vertically integrated sets of Actively Verified Services (AVS) created on-demand for each rollup. These AVS play a crucial role in ensuring the accuracy of the rollup states, providing faster transaction finality, and decentralizing the sequencing process. This setup aims to offer a more secure and efficient environment for rollup transactions.
In addition to restaked rollups, AltLayer offers a no-code Rollup-as-a-Service (RaaS) launchpad. This launchpad is designed to help developers quickly and easily create customized rollups by supporting multiple chains, virtual machines, rollup SDKs, sequencing services, and data availability layers. This versatility makes AltLayer an attractive solution for developers who want to deploy rollups tailored to their specific needs without extensive coding knowledge.
Another innovative feature of AltLayer is the concept of ephemeral rollups. These rollups are highly optimized for resource usage and are designed for decentralized applications (dApps) expecting a surge in demand. Ephemeral rollups can be quickly created, used as needed, and then destroyed, offering the advantages of both application-specific rollups and general-purpose Layer-1 solutions. This flexibility allows dApps to efficiently handle variable demand without compromising performance.
AltLayer’s system is designed to provide decentralized validation and sequencing, reduce transaction finality times, and offer robust interoperability. The combination of these features results in a highly customizable and flexible rollup solution that meets the diverse needs of developers and users in the Blockchain space. AltLayer’s focus on decentralization and efficiency sets it apart from traditional rollup solutions, making it a significant development in this field.
To incentivize early adopters and supporters, AltLayer has introduced the ALT coin. These coins serve multiple purposes within the AltLayer ecosystem. They can be staked as an economic bond, allowing holders to participate in the network’s consensus mechanism and earn rewards. ALT coin holders also have governance rights, enabling them to vote on protocol development and operations. Additionally, ALT coins are used to pay transaction fees, storage fees, and other services within the ecosystem, with operators receiving a portion of these fees as incentives.
How to Buy AltLayer (ALT) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy AltLayer (ALT). Over 100 cryptocurrencies, including ALT, can be bought and sold quickly on Binance TR. Follow these steps to buy AltLayer (ALT) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. You need to go to trbinance.com and continue from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or the official Binance TR website according to your preference. Note that you will need your mobile phone to verify your identity from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on “Copy URL” to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then, a screen like the one below will appear. To continue the verification process, first select the document type that suits you best.
After selecting the document type, tap on the “Upload front side” option to continue. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload back side” option and take a photo of the back side of the document and upload it. Make sure that the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, make sure your face fills the camera area as much as possible.
After completing all these steps correctly and completely, your identity verification will be completed in a short time.
How to Deposit TL on Binance TR?
You can easily deposit TL to your Binance TR account from all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 with FAST from other banks. Deposits over 50,000 TL from other banks are processed within EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do is use the information displayed on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy ALT Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to ALT coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the page below will open. You can go to the TL to ALT purchase page by typing “ALT” in the search section on the right side of this page and clicking on the ALT/TRY option from the results.
Now the ALT trading page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy ALT in the first box and the number of ALT you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy ALT” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR in 2020 for cryptocurrency investors in Turkey. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR offers fiat-to-crypto and crypto-to-crypto trading services by leveraging Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users are supported with Binance’s core functionalities, gaining access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
