Altlayer

Altlayer (ALT)

Full information about Altlayer (ALT). Current Altlayer price in XDR, ALT open/close rates, Altlayer history charts, Altlayer market capitalization and volume.

1 ALT = 0.099 XDR Special Drawing Rights (XDR)
0.1374175 XDR

Last updated: 2024-10-01 01:41:00 UTC - about 7 months ago 1 USD = 0.719185 XDR

General information
Global rank:168
Name: Altlayer Altlayer
Symbol:ALT
Current coin price (XDR):0.099 XDR
Last hour:arrow_upward2.56 %
Last 24 hours:arrow_upward4.49 %
Last 7 days:19.13 %trending_up
Capitalisation (XDR):225 573 663.31 XDR
Volume 24h (XDR):44 405 828.27 XDR
Available supply:2 282 474 196.00 ALT
Total coin supply:-1 ALT
Start date:2024-01-05
Last updated: 2024-10-01 01:41:00 UTC - about 7 months ago

Altlayer/Special Drawing Rights (ALT/XDR) price chart

Altlayer/Special Drawing Rights (ALT/XDR) capitalisation and volume charts

What is Altlayer (ALT)?

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​​​​.

What is Altlayer (ALT) used for?

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​​.

Who created Altlayer (ALT)?

AltLayer was established by Yaoqi Jia, co-founder of blockchain firm Zilliqa and former director of Parity Asia. The project has garnered support from an impressive array of investors in the cryptocurrency and blockchain industry, including Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, and several notable individuals like Balaji Srinivasan, Gavin Wood, Sean Neville, and Ryan Selkis.