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AltLayer represents a decentralized protocol aimed at improving rollups by introducing the concept of Restaked Rollups. This approach provides rollups, derived from various rollup stacks like Optimism, Arbitrum Orbit, and others, with increased security and decentralized functionalities. The network’s native token, ALT, is set to be available on Binance, giving users access to its suite of offerings. The article delves into AltLayer’s components, including the ALT coin’s role and acquisition process.
What Does AltLayer Offer?
AltLayer facilitates the creation of both native and restaked rollups using Optimism and ZK stacks. Restaked Rollups enable application-specific rollups by utilizing EigenLayer’s staking mechanism. This setup enhances rollups by providing a common framework that ensures greater security, decentralization, and interoperability. It also accelerates transaction finality, making rollups more efficient and reliable.
How Does ALT Coin Function?
The ALT coin serves as the primary token within the AltLayer ecosystem, with several key roles. ALT is integral for economic staking, governance, protocol incentives, and paying protocol fees. The total supply is capped at 10 billion, with an initial circulating supply of 1.1 billion upon its Binance listing. It incentivizes operators within the system and allows stakeholders to participate in governance.
Key conclusions about AltLayer and ALT coin include:
- Restaked Rollups enhance rollup stack security and speed.
- The ALT coin facilitates economic staking and governance participation.
- Operators earn ALT tokens, enhancing the network’s decentralization.
- ALT coin’s listing on Binance broadens its accessibility.
To acquire ALT coin, users can turn to Binance, a major cryptocurrency exchange. Trading starts on January 25, 2024, with various pairs like ALT/BTC and ALT/USDT available. New users need to register and fund their accounts with either fiat or cryptocurrency before engaging in trades. Detailed steps ensure users can easily navigate the platform to purchase ALT coins. This strategic listing on a leading exchange marks a significant step for AltLayer, expanding its reach and user base.