- Binance Labs has invested in AltLayer, a decentralised Rollups-as-a-Service (RaaS) protocol.
- The collaboration is aimed at increasing overall access to app-tailored rollups across the Web3 ecosystem.
Binance Labs, the venture capital arm and accelerator of leading crypto exchange Binance, has made a strategic investment in layer-2 scalability blockchain AltLayer.
The investment will help the protocol enhance the adoption of its decentralised Rollups-as&-a-Service (RaaS) offering, growing its usability across Web3 applications, according to details shared in a press release on Wednesday.
AltLayer’s Beacon Layer provides access to sequencing, execution, and verification for rollups, with all types of users including developers able to create and customise a rollup within two minutes.
Nicola W., the investment director at Binance Labs, commented:
“Application-tailored rollups offer the security of Layer 1s and the customizability of appchains. However, a common issue with rollups today is that they mostly operate with centralised sequencers and create fragmented liquidity and userbase. We found AltLayer’s approach to facilitating the launch of application-tailored rollups via Beacon Layer an inspired take. Their core network offers several decentralisation and interoperability properties much needed in a world of thousands of rollups. All this while dramatically cutting down time-to-market and encouraging rapid innovation and experimentation.”
AltLayer partnerships
AltLayer’s application-tailored rollups have seen increased adoption across the ecosystem, with this boosted by its multi-chain and multi-VM support. & Industry players collaborating with AltLayer include EigenLayer, Espresso, Double Jump, Arbitrum, Linea, Celestia and Jump. &
The protocol’s latest collaboration comes after Tuesday’s announcement of a partnership with Hyperlane as they look to expand ‘permissionless interoperability’ to rollups.
The post Binance Labs invests in layer-2 rollups protocol AltLayer appeared first on CoinJournal.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments