BYDFi Lists 2 New zk Tech Protocols

BYDFi keeps busy by adding new and interesting tokens. For example, they recently listed two rollup projects. In other words, these projects use zk technology. Rollups are typically Layer 2 solutions. They offer solutions to Ethereum’s pain points. For instance, scalability, speed, and low transaction costs. Features that Ethereum lacks.

So, we take a closer look at the new listings on BYDFi. These are AltLayer ($ALT) and Starknet ($STRK).

AltLayer ($ALT)

AltLayer ($ALT) is a decentralized Web3 scaling solution. Among others, it works with restaking and native rollups. As you may know, restaking is one of the big narratives for 2024. AltLayer works with both zk and optimistic rollups. Remember how zk (zero knowledge) tech works? You can prove something without disclosing the actual information. Furthermore, it also offers RaaS, Rollups-as-a-Service.

By offering the restaking option, AltLayer uses three main features.

1. Vital — This takes care of decentralized verification. 
2. Mach — This takes care of fast finality. 
3. Squad — Helps with decentralized sequencing. Sequencers order and execute transactions. 

AltLayer raised no less than $22.8 million. Among its investors, were big names in crypto. For example,

• Polychain Capital.
• Binance Labs.
• Jump Crypto.
• Gavin Wood, one of the Ethereum co-founders and of Parity. 
• Sean Neville, he’s co-founder of Circle and the architect of USDC.
• And Ryan Selkis, Founder of Messari.

BYDFi is one of the best places to buy alts of all exchanges. They have both non-KYC options for healthy withdrawal sizes of 0.5 BTC AND higher limits and more services if you decide to KYC. Check them out at this link here.

The native $ALT token was recently launched. There was also an airdrop for Ethereum users and Celestia ($TIA) stakers. $ALT is a utility token, and among others, the protocol uses it for,

• Economic bond — Besides the restaking assets, you van also stake $ALT.
• Governance — Token holders can take part in governance.
• Incentivizing the protocol — Earn $ALT as a reward for offered services.
• Protocol fees — Pay for protocol fees with $ALT.

The current $ALT price is $0.4784. It has a market cap of $527 million. Out of the max supply of 10 billion tokens, 1.1 billion circulate. The first bigger token unlock is due for July 2024. The picture below shows how Vital works. You can buy $ALT here.

Source: AltLayer docs

Starknet ($STRK)

Starknet ($STRK) is a zk rollup L2 solution developed by StarkWare. So, Starknet offers fast and cheap transactions with a high throughput. It offers scalability to Dapps for their computation. At the same time, it enjoys Ethereum’s security. 

The platform can scale this much, because it processes the transactions off-chain. To clarify, it doesn’t use the Ethereum mainnet for this. It groups transactions in batches into blocks. That’s the off-chain part. However, it summarizes these blocks. As a result, this gives a single on-chain transaction. It uses STARKs for this. These are Scalable, Transparent ARgument of Knowledge proofs. All this is also permissionless. Furthermore, Starknet uses its own coding language, Cairo. In turn, that’s based on the Rust coding language. Cairo offers devs a more powerful coding language. That’s compared to EVM based coding languages.

Starknet also uses a modular framework. This allows other chains to build on top of Starknet as a Layer 3 chain. This allows for a diverse ecosystem. Among others, you can find, NFTs, DeFi, or gaming apps. You can use the Dappland app, to find Dapps on Starknet. Dappland also includes detailed information about the Dapps. For example, about the team, audits, or whether it has a token or not.

Towards the end of February 2024, there was a $STRK airdrop. The current $STRK price is $1.92. It already has a market cap of $1.4 billion. From the 10 billion $STRK tokens, 728 million already circulate. You can buy $STRK here. Starknet is currently supported by two wallets, Argent X and Braavos. 

Ever wondered how STARKs scale Ethereum? Check out the first video of the scalability series, where we explain how STARK proofs work with @starkience. https://t.co/U9cB30CMp7

— Starknet 🦇🔊 (@Starknet) February 28, 2024

Conclusion

BYDFi keep adding new projects to its listings. Recently, the exchange added two rollups related projects. These are AltLayer with its $ALT token and Starknet’s native $STRK token.

You can buy $ALT and $STRK at BYDFi. They offer the best of what Centralized Exchanges has. You can trade in spot or futures for very low fees and withdraw up to 0.5 BTC with no KYC necessary. Give BYDFi a try today.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by BYDFi.

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