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AltLayer (ALT) is a decentralized protocol that simplifies the launch of native and restaked rollups within both Optimism and ZK rollup stacks. In this article, you will find answers to many questions, such as what AltLayer is, announced as the 45th project on the Binance Launchpool, and how to buy ALT coin.
What is AltLayer?
AltLayer is a public and decentralized protocol for rollups. It introduces the innovative concept of Restaked Rollups, which provide enhanced security, decentralization, interoperability, and crypto-economic fast finality to rollups derived from any rollup stack (e.g., OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.).
AltLayer’s core offering, based on restaked rollups, consists of three main products, which are as follows:
- VITAL: An Actively Verified Service (AVS) where operators validate blocks and relevant states processed by rollup sequencers, raising fraud proof challenges if necessary.
- MACH: A protocol enabling operators to restake Ethereum
$2,645-based assets to support any claims on rollup states, providing faster finality to rollups. - SQUAD: Offers decentralized sequencing with economic bonding. Decentralized sequencing eliminates short-term liveness concerns, malicious MEV, and other issues associated with single-sequencer rollups.
ALT is the native asset of AltLayer and serves four primary purposes:
- Economic Bonding: ALT coin is used along with restaked assets to provide economic bonding. If malicious behavior is detected, this bond can be slashed.
- Governance: ALT coin holders can vote on governance decisions.
- Protocol Incentive: ALT coin is awarded to operators in the AltLayer ecosystem as a reward for their services.
- Protocol Fees: Network participants pay for on-chain services using ALT coin.
Where to Buy ALT Coin?
ALT coin will be available for secure trading on the leading cryptocurrency exchange, Binance. It will be listed on Binance on January 25, 2024, and trading will be available in the pairs ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY.
To purchase ALT coin, one must first create an account on the Binance exchange (if not already a member). After completing the registration process, users should transfer either cryptocurrency or fiat currency, such as USD, to their Binance wallet. Once the transfer is complete, ALT coin can be purchased using any of the listed trading pairs.
To buy using the ALT/USDT trading pair, navigate to the interface of this trading pair. In the “Limit” section, enter the desired amount in the specified field. After entering the amount, complete the purchase by placing a “Buy ALT” order.
