ALTDeer Cloud has adopted a Layer 2 (L2) solution to enhance the efficiency, scalability, and affordability of transactions on our platform. With the implementation of our Layer 2 network, users can benefit from lower transaction costs, faster transaction speeds, and improved network scalability. This advanced framework supports both our utility token, the ALT Token, and the micro-rewards token, microALT.
What is Layer 2?
Layer 2 is an additional network built on top of a primary blockchain (Layer 1) to improve the performance of decentralized applications (dApps) and transactions. By processing transactions off-chain and consolidating them before updating the main blockchain, L2 solutions reduce the load on the primary blockchain. This allows for high-speed transactions without sacrificing security or decentralization.
In the case of ALTDeer Cloud, the Layer 2 structure will be essential to support a large number of daily transactions, particularly for users earning microALT rewards or exchanging these tokens for other tokens or goods.
ALT Token and microALT in the Layer 2 Framework
ALT Token
Primary Utility Token: ALT Token is the main token on the ALTDeer platform, designed to represent value and utility within our ecosystem.
Layer 2 Backbone: ALT Token follows the Layer 2 structure, benefiting from faster and more cost-effective transactions, making it accessible and functional across various platform utilities.
Future Adaptability: ALT Token has been designed to be compatible with popular Layer 2 protocols, ensuring its future integration with decentralized finance (DeFi) and decentralized applications (dApps) on Layer 1 and Layer 2 networks.
microALT Token
Reward Unit: microALT is designed as a fractional unit of the ALT Token, serving as a micro-reward token within ALTDeer Cloud. Users can earn microALT through participation in the platform, such as completing mining tasks, engaging in quizzes, and referring new users.
Conversion Rate: We have established that 100,000 microALT will equal 1 ALT Token. This conversion rate allows users to accumulate microALT through participation and later redeem it for ALT Token or other rewards within the ecosystem.
Layer 2 Efficiency: Like ALT Token, microALT transactions benefit from the efficiency of Layer 2. This enables users to complete frequent, small-value transactions without incurring high fees, which is essential for a rewards-based token.
Future Vision for ALT Token and microALT
Integration with DeFi: In the future, ALT Token may be integrated into Layer 2-enabled DeFi applications, offering holders the opportunity to engage in staking, liquidity pools, and decentralized lending platforms. This would allow ALT Token holders to earn additional rewards and gain exposure to broader crypto markets.
Cross-Platform Usability: With the flexible Layer 2 infrastructure, ALT Token will have potential interoperability with other Layer 1 and Layer 2 networks. This cross-platform usability would enhance ALT Token’s utility beyond ALTDeer Cloud, expanding its value and accessibility.
Token-Based Governance: As ALTDeer evolves, we may introduce governance features that allow ALT Token holders to participate in platform decisions. This could include voting on new features, reward structures, and partnership integrations, making ALT Token an influential asset within the ecosystem.
Conclusion
The adoption of Layer 2 in ALTDeer Cloud for ALT Token and microALT enables us to offer a high-performance, user-friendly experience that supports frequent transactions and incentivizes user engagement. By establishing microALT as a fractional unit of ALT Token, we’re creating an ecosystem where users can easily earn, redeem, and participate without the barriers of high fees or slow transaction times.
As the ecosystem expands, ALT Token will continue to offer greater utility and integration opportunities, empowering our users to benefit from the Layer 2 framework and positioning ALTDeer Cloud as a next-generation mining and rewards platform.
