Binance Labs, the accelerator and venture capital arm of leading crypto exchange Binance, made a strategic investment in layer-2 blockchain scalability AltLayer and its decentralised Rollups-as-a-Service (RaaS) protocol. The collaboration is intended to increase overall access across all platforms and apps in the Web3 ecosystem.
Nicola W., the director of investment 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’s Beacon Layer software allows users, including developers, to customize and create a rollup in just two minutes. This technology has seen increased adoption across the Web3 ecosystem with its multi-chain and multi-VM support. Industry Alt Players collaborating with AltLayer include EigenLayer, Espresso, Double Jump, Arbitrum, Linea, Celestia Jump.
The protocol’s latest collaboration comes after Tuesday’s announcement of a partnership with Hyperlane, as they expand ‘permissionless interoperability’. Rollups are a great way to save space.
