AltLayer is a public and completely decentralized protocol that can be used for rollups. AltLayer introduces a new concept of Restaked Rollups, which takes rollups (converted from any rollup stack like OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack) and provides them with enhanced security, decentralization, interoperability, and crypto-economic fast finality. In this article, you can find answers to many questions such as what is AltLayer that will be listed on Binance, what is the native asset ALT coin of the network, and how to buy ALT coin.
What is AltLayer?
AltLayer is a public and completely decentralized protocol that facilitates the launch of both Optimism and ZK rollup stacks as well as native and restructured rollups. AltLayer offers an innovative rollup framework called Restaked Rollups. Restaked rollups provide a mechanism for bootstrapping the network with economic security borrowed from Ethereum and launching unsupervised instances of all major rollups for application-specific examples.
Restaked Rollups are a common framework for application-specific rollups that benefit from EigenLayer’s restructuring mechanism. They provide advanced security, decentralization, interoperability, and fast crypto-economic finality.
The core offering of AltLayer, consisting of restructured rollups, comprises three main products. These are:
- VITAL: The Actively Verified Service (AVS) where operators verify blocks and related states processed by the rollup sequencer and, if necessary, raise fraud proof challenges.
- MACH: A protocol that provides faster certainty to rollups by allowing operators to reclaim Ethereum-based assets, supporting all claims about the rollup state.
- SQUAD: Provides decentralized sorting with economic backing in the protocol. Decentralized sorting eliminates short-term liveliness concerns, bad MEV, and other related issues with rollups running with a single sequencer.
ALT Coin Review
ALT coin is the native token of AltLayer. As of January 17, 2024, the total supply of ALT coin is 10 billion, and the initial circulating supply will be 1.1 billion following the Binance listing. The ALT coin serves many purposes including economic bonding, governance, protocol incentives, and protocol fees.
- Economic Bond: ALT coin is used in conjunction with restructured assets to provide an economic bond. This bond can be severed if malicious behavior is detected.
- Governance: ALT coin holders can vote in governance decisions.
- Protocol Incentives: Operators in the AltLayer ecosystem can earn ALT coin as a reward for their services.
- Protocol Fees: Network participants pay for in-network services with ALT coin.
How to Buy ALT Coin?
ALT coin can be safely bought and sold from Binance, the world’s largest cryptocurrency exchange by trading volume. ALT coin will be listed on Binance on January 25, 2024, and will be available for trading in ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY trading pairs.
To purchase ALT coin, one must first register on the Binance exchange if not already a member. After completing the registration process, cryptocurrency or fiat currency such as Turkish Lira should be transferred to the account wallet on Binance. Once the transfer is complete, ALT coin can be purchased from any of the five trading pairs mentioned above.
To buy using the ALT/USDT trading pair on Binance, one should first go to the interface of this trading pair. In the limit tab of the trading pair interface, the desired amount to be purchased is entered. Once the amount is entered, the purchase is completed with the Buy ALT order.