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Altlayer
About Altlayer
Altlayer (ALT) is a cryptocurrency and the core token of the AltLayer protocol, a decentralised platform aimed at enhancing the scalability of the Ethereum blockchain through the development of Ethereum rollups. By aggregating transactions and processing them off the main Ethereum chain, AltLayer aims to alleviate congestion and improve transaction efficiency. The protocol is distinguished by its restaking mechanism, which bolsters security, decentralisation, and transaction speed. ALT tokens serve multiple vital roles within the ecosystem such as an economic bond to deter malicious activities through stake slashing, for governance by allowing token holders to vote on protocol decisions, as incentives for network operators, and for protocol fees to ensure its economic viability. Founded by Yaoqi Jia, AltLayer contributes to the broader Ethereum ecosystem's scalability and efficiency.
Altlayer (ALT) is a cryptocurrency and the native utility token of the AltLayer protocol, a decentralised platform designed to facilitate the creation of Ethereum rollups. These rollups are intended to enhance the scalability of the Ethereum blockchain by bundling transactions together and executing them on a separate layer. This approach helps to reduce congestion on the main Ethereum chain. AltLayer is noteworthy for its use of a restaking mechanism to provide enhanced security, decentralisation, and faster finality for transactions within its ecosystem.
The ALT token is used for several critical functions within the AltLayer ecosystem:
- Economic Bond: ALT tokens are used alongside restaked assets to provide economic stakes, which can be slashed if malicious behaviour is detected.
- Governance: ALT token holders have the right to vote on governance decisions affecting the protocol.
- Protocol Incentivisation: Operators within the AltLayer ecosystem can earn ALT tokens as rewards for their services, promoting active participation and maintenance of the network.
- Protocol Fees: Participants in the network are required to pay fees in ALT tokens for intra-network services, ensuring the economic sustainability of the AltLayer protocol.