Binance Labs announces a strategic investment in AltLayer

2023-08-09 14:59:51

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ChainCatcher news, Binance's venture capital and incubation department Binance Labs announced a strategic investment in AltLayer, a leading provider of decentralized Rollups as a Service (RaaS) for Web3 applications.

Nicola W., Investment Director at Binance Labs, stated: "Application-specific Rollups provide the security of Layer 1 and the customizability of application chains. However, a common issue with today's Rollups is that they mostly operate using centralized sequencers, resulting in fragmented liquidity and user bases. We find AltLayer's approach of facilitating application-specific Rollup launches through the Beacon Layer to be an inspiring practice. Their core network offers several much-needed decentralized and interoperability features in the world of thousands of Rollups. All of this significantly shortens time to market and encourages rapid innovation and experimentation."

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Mention the project

AltLayer

As the execution and elastic scaling layer of the blockchain.