Altlayer Price

AltLayer is a decentralized protocol for rollups. Its technology helps enhance security, decentralization, interoperability, and finality of rollups (scalability solutions for blockchains).

AltLayer introduces a novel concept called Restaked Rollups, which involves restocking assets to improve rollup characteristics. Key features of the AltLayer protocol include:

1. VITAL: Actively Validated Service where operators verify rollup blocks and states, raising fraud proofs if needed.

2. MACH: Enables faster finality by allowing operators to restake Ethereum-based assets to back rollup state claims.

3. SQUAD: Offers decentralized sequencing with economic backing, addressing issues like liveness concerns, MEV, and rent extraction.

AltLayer's native utility token, ALT, is used for several purposes, including providing an economic bond (which can be slashed if malicious behavior is detected), governance (where ALT token holders can vote on governance decisions), protocol incentivization (where operators can earn ALT tokens as rewards), and protocol fees (where network participants pay for services in ALT tokens).

AltLayer is a decentralized protocol designed for rollups, incorporating a unique concept of Restaked Rollups. This approach enhances rollups spun from various rollup stacks (such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) by providing them with improved security, decentralization, interoperability, and crypto-economic fast finality through a restaking mechanism. The core of AltLayer's offering includes three key products:

1. VITAL (Verification of rollups' state correctness)

This Actively Validated Service (AVS) allows operators to verify blocks and states committed by the rollup sequencer. Operators can raise fraud proof challenges if necessary, ensuring the integrity and correctness of the rollup's state.

2. MACH (Protocol for fast finality)

MACH is another AVS that focuses on providing faster finality to rollups. It enables operators to restake Ethereum-based assets to support claims on the rollup state, enhancing the speed at which transactions are finalized.

3. SQUAD (Decentralized Sequencing)

SQUAD is an AVS that offers decentralized sequencing with economic backing. This system aims to eliminate issues like short-term liveness concerns, bad MEV (Miner Extractable Value), rent extractions, and other problems associated with rollups that rely on a single sequencer.

Additionally, AltLayer's Rollups-as-a-Service (RaaS) launchpad allows both developers and those with minimal coding experience to quickly create custom rollups. This service supports various rollup SDKs and shared sequencing services, accommodating a wide range of blockchain development needs. AltLayer also introduces the concept of ephemeral rollups, enabling developers to quickly set up and later dispose of rollups as per their application's demand, providing optimized resource usage.

The founder of AltLayer (ALT) is Yaoqi Jia, who is also the co-founder of the blockchain firm Zilliqa and a former director of Parity Asia. His background and experience in the blockchain industry have significantly contributed to the development and launch of AltLayer​.

AltLayer itself launched in 2021 as a protocol for building custom rollups. However, the key event you're likely interested in is the launch of the ALT token, which marked a significant milestone for the project.

The ALT token officially launched on January 25, 2024, through a Binance Launchpool event. It was listed for trading on KuCoin in January 2024.

The ALT token, which is the native utility token of AltLayer, has several key uses within the ecosystem:

1. Economic Bond: ALT tokens are used alongside restaked assets to provide an economic stake, which can be slashed in case of detected malicious behavior.

2. Governance of AltLayer: Holders of ALT tokens can participate in governance decisions, influencing the direction and policies of the AltLayer protocol.

3. Protocol Incentivization: Operators within the AltLayer ecosystem can earn ALT tokens as rewards for their services.

4. Protocol Fees: ALT tokens are required for paying various fees related to services within the AltLayer network.

5. Trade kALT on KuCoin: Trade AltLayer crypto on the KuCoin Spot Market against other cryptos to make the most of changing market conditions and volatility. Buy or sell $ALT or HODL if you believe in the future potential of the AltLayer project. Remember to DYOR before trading cryptos.