What is AltLayer? We ask Dr Yaoqi Jia CEO of AltLayer

AltLayer

AltLayer is a hyper-scalable and disposable execution layer that relies on optimistic execution similar to optimistic rollups. It can be viewed as a Layer 3 protocol that derives its security directly from a Layer 1 or indirectly from a Layer 2 in a recursive manner.

E-Crypto News talked to Dr. Jia about Layer 3 Protocol and how it will work in our new Web3 world, here is what he had to say.

Why is elastic scaling critical for the development of Web3?
  • Dr. Yaoqi Jia’s Response: There are several application scenarios where the generated transaction volume varies drastically over time. For example, a popular NFT offering can attract millions of users during its mint event, resulting in a huge spike in transaction volume. But as soon as the mint event is over, the transaction volume often tapers off. The same can be said for games. Most indie games have a short lifespan and during that brief period, a game attracts a lot of participants and if the game is on-chain, it can drive a high volume of transactions. The volume drops significantly when gamers move to the next new game. It is therefore important to build infrastructures that can elastically increase or decrease the capacity of the network as and when the need arises.

What is AltLayer?

  • Dr. Yaoqi Jia’s Response: AltLayer is a layer 2 scalability solution that builds pay-as-you-go blockchains for emerging Web3 applications and non-Web3 companies who want to create one-off blockchain projects.

What does AltLayer do to address the challenges of working in web3?

  • Dr. Yaoqi Jia’s Response: AltLayer builds an application-tailored scaling solution for dApps that have the potential to create a sudden surge in demand. With AltLayer, developers do not need to worry about other applications that can create negative externalities for users and therefore can focus on building their products.

Why should developers use AltLayer?

  • Dr. Yaoqi Jia’s Response: Web3 applications empower users to exercise financial sovereignty in the physical and digital worlds. However, with existing blockchain technology, resource-conscious application developers and non crypto-native organizations interested in one-off web3 projects are excluded from the Web3 space by high technical, financial, and practical barriers to entry. These developers cannot deliver their products’ functionality without an innovation catalyzing layer of economical, scalable, and flexible infrastructure. AltLayer provides such a layer – and utilizes core technical advantages to enhance their clients competitiveness.

How is AltLayer different from the other Service providers?

  • Dr. Yaoqi Jia’s Response: AltLayer offers infrastructure that can be discarded once no longer needed. Its unique disposability feature allows for less network congestion and greater scalability.

Which blockchains and networks are compatible with AltLayer?

  • Dr. Yaoqi Jia’s Response: AltLayer is currently compatible with EVM chains such as Ethereum and Polygon PoS. In the future, we plan to add support for non-EVM chains as well.

Can I access NFT token metadata from AltLayer?

  • Dr. Yaoqi Jia’s Response: Yes, during the time the NFT resides on an AltLayer-enabled application-specific chain, users can access all NFT-related on-chain data. Once the NFT is settled on a base chain, such as Ethereum, users will be able to access the NFT-related data therein.

What is a production server?

  • Dr. Yaoqi Jia’s Response: A production server is a server used to host applications for deployment to a live environment. It is the main server on which applications are accessed by end users.
AltLayer
Bio — Dr. Yaoqi Jia, Founder and CEO of AltLayer
  • Dr. Yaoqi Jia is the Founder and CEO of AltLayer. He was previously Director, Parity Asia and prior to that he was the co-founder and CTO of Zilliqa. In his non-entrepreneurial life, he was a Research Fellow at the National University of Singapore and he holds a Ph.D. in Computer Science from NUS. His research interests span areas of blockchain security, distributed system security, web security/privacy, and network security. His research work has been published in top-tier security and privacy conferences, namely CCS, USENIX Security, PETS, RAID, ESORICS, among others.

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

Related Posts

E-Crypto News Executive Interviews

Cryptopunkad1
Cryptopunkad2
Cryptopunkad1
Cryptopunkad1
Cryptopunkad1
Cryptopunkad1
previous arrow
next arrow

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Is A Public Presale In Crypto?
What Is A Public Presale In Crypto?
September 22, 2022
Cryptocurrency
How Many Cryptocurrencies and NFT Collections are there in 2022?
September 21, 2022
What Are The Benefits Of Cryptocurrency?
What Are The Benefits Of Cryptocurrency?
September 20, 2022
What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin18,808 0.72 % 0.73 % 6.58 %
Ethereum1,284.9 0.80 % 3.08 % 12.66 %
Tether1.000 0.02 % 0.05 % 0.01 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB272.41 0.94 % 1.36 % 2.48 %
XRP0.5011 0.10 % 1.65 % 33.43 %
Binance USD1.000 0.15 % 0.14 % 0.18 %
Cardano0.4447 0.78 % 2.64 % 8.83 %
Solana42.12 0.56 % 2.22 % 3.81 %
Dogecoin0.06110 1.04 % 4.00 % 1.93 %

bitcoin
Bitcoin (BTC) $ 18,959.74
ethereum
Ethereum (ETH) $ 1,294.05
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 274.74
xrp
XRP (XRP) $ 0.503992
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.447158
solana
Solana (SOL) $ 32.63
dogecoin
Dogecoin (DOGE) $ 0.061697