AltLayer is a Singapore-based blockchain firm that recently raised US$7.2 million in a seed funding round led by Polychain Capital, Breyer Capital, and Jump Crypto. Founded by Dr. Yaoqi Jia, a former director of Parity Asia and co-founder of the blockchain company Zilliqa, AltLayer has been assisting blockchain app developers in setting up temporary layers to resist traffic spikes. These layers can be created on Layer 1 protocols such as Ethereum and removed once the traffic is back to normal. 

AltLayer’s solutions are ideal for companies that are creating metaverse projects, blockchain-based games, and NFTs. The firm plans to use its series A capital to hire more people and introduce a testnet in the third quarter of this year. 

AltLayer’s solutions are highly scalable and provide application-dedicated execution layers that derive security from an underlying L1/L2. The company also plans to offer roll-ups-as-a-service for Web3. These alternatives are often grouped together under the name “alt Layer 1s,” or alt L1s. 

In conclusion, AltLayer is a promising blockchain firm with a range of solutions that can be used by companies creating metaverse projects, blockchain-based games, and NFTs. The firm’s solutions are highly secure and scalable and can provide a layer of protection against traffic spikes. AltLayer plans to use its series A capital to hire more people and introduce a testnet in the third quarter of this year.