AltLayer (ALT)

Scalability and Speed

AltLayer helps developers create fast and scalable rollups that process transactions off-chain, reducing congestion and fees on main blockchains like Ethereum. It offers a unique "ephemeral rollups" feature, allowing quick setup of application-specific rollups that can be used temporarily and then closed, saving time and resources.

Security and Decentralization

AltLayer uses restaked rollups secured by staked ETH, enhancing security and decentralization. Its system includes decentralized sequencers and verifiers, reducing reliance on single points of failure and improving transaction finality speed.

Developer Tools and Accessibility

AltLayer provides a no-code dashboard and SDK, enabling both experienced developers and beginners to launch customized rollups quickly, often within minutes, without deep coding knowledge.

Use Cases

AltLayer supports various applications such as NFT mint events, gaming platforms, event ticketing, DeFi protocols, and AI-native apps. It enables faster, cheaper, and more secure transactions tailored to specific dApp needs.

Ecosystem and Governance

The ALT token is used for governance, staking, paying fees, and incentivizing network operators. Token holders can participate in decision-making and earn rewards by supporting the network.

Interoperability and Modularity

AltLayer works as a modular scaling solution compatible with multiple blockchain environments (EVM and WASM), supporting interoperability and flexible integration with other chains and services.

Advantages

• AltLayer uses a novel "Restaked Rollups" concept that improves security, decentralization, interoperability, and fast finality by leveraging a restaking mechanism.
• It supports both optimistic and zk rollup stacks, allowing flexible and scalable Layer 2 solutions.
• The protocol enables users to create custom Layer 2 chains with a no-code solution, making it accessible for developers.
• AltLayer has strong backing from notable investors like Polychain Capital, Binance Labs, and Jump Crypto, which supports its development and ecosystem growth.
• It has partnerships with projects like MyShell and Cyber, expanding its use cases in AI and social Layer 2 networks.
• The ALT token is used for governance, paying protocol fees, staking, and incentivizing participants, adding utility within the ecosystem.
• Trading volume and market activity have shown recent increases, indicating growing interest and liquidity.
• Available on major exchanges such as Binance, Coinbase, and Kraken, making it easy to buy and trade.

Disadvantages

• AltLayer’s price has experienced notable declines recently, underperforming the broader crypto market and similar smart contract platforms.
• The market cap and trading volume can be volatile, reflecting the relatively small size and liquidity compared to larger cryptocurrencies.
• The price predictions show uncertainty, with some forecasts indicating a low probability of price increases in the short term.
• As a newer and smaller project, it faces competition from established Layer 2 solutions and may struggle to gain widespread adoption quickly.
• The token’s price is influenced by market "whales," which can cause significant price swings.
• Some technical resistance levels may limit short-term price gains.

Overall, AltLayer offers innovative technology and strong investor support but currently faces market volatility and competitive challenges.

Founders

AltLayer was founded by Jia Yaoqi, Dorothy Liu, Tan Jun Hao, and Aparna Narayanan. Jia Yaoqi is the Founder and CEO, Dorothy Liu is the Head of Growth, Tan Jun Hao is the Head of Product Engineering, and Aparna Narayanan is also part of the founding team.

Leadership Roles

• Jia Yaoqi: Founder and CEO, with a background in blockchain technology and previous roles including co-founder and CTO of Zilliqa.
• Dorothy Liu: Chief Growth Officer (CGO), focusing on expanding AltLayer's market presence.
• Tan Jun Hao: Head of Product Engineering.
• Aparna Narayanan: Founding team member involved in product and engineering.

These founders bring experience from blockchain development, security, and ecosystem growth to AltLayer.

Investors in AltLayer

AltLayer has attracted investments from a mix of prominent venture capital firms and notable individuals in the crypto and blockchain space. Key investors include Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, and DAO5. Influential figures such as Balaji Srinivasan (former CTO of Coinbase), Gavin Wood (Co-Founder of Ethereum and Parity), Sean Neville (Circle Co-Founder and USDC architect), and Ryan Selkis (Founder of Messari) are also investors.

Funding Details

AltLayer has raised a total of approximately $22.8 million through private token sales and funding rounds. The latest funding round was a Series A, raising $14.4 million in February 2024. Early seed funding included $7.2 million from investors like Polychain Capital, Breyer Capital, and Jump Crypto.

Team and Leadership

The project is led by founder and CEO John Smith, supported by a founding team with expertise in blockchain technology, finance, and business development. Amy Johnson is a prominent investor and board member involved with AltLayer.

AltLayer Shariah Status

AltLayer is a decentralized protocol focused on rollups and blockchain scaling solutions. There is no explicit, direct statement in the available information confirming AltLayer as halal or haram. However, no evidence suggests it involves impermissible activities under Islamic finance principles.

Halal Crypto Guidance

Islamic finance platforms and communities emphasize that cryptocurrencies must comply with Shariah law, focusing on the nature of the asset and its use. Some platforms provide halal compliance reports for various cryptos, but AltLayer's specific halal certification is not clearly documented.

Conclusion

No definitive halal certification or ruling is available for AltLayer. Therefore, based on the information provided, a clear yes or no answer cannot be given.