Solayer (LAYER) is a Layer 2 solution built on the Solana blockchain.
It focused on enhancing scalability and efficiency by utilizing hardware acceleration e.g., programmable switches, FPGAs) and advanced networking to achieve high transaction throughput and low latency.
Alternative protocol
Solayer is a restaking protocol, allowing users to redeploy their staked SOL tokens or liquid staking tokens (LSTs) to support additional network functions and earn more yield. By offloading certain blockchain operations to specialized hardware, Solayer aims to significantly improve the scalability of the Solana network.
Moreover, Solayer is developing InfiniSVM, a hardware-accelerated version of the Solana Virtual Machine, aiming for extremely high transaction throughput (1MM+ TPS) and low latency.
Solayer token (LAYER)
The LAYER token serves as the native cryptocurrency for transaction fees and governance within the Solayer network.
LAYER holders can participate in governance decisions, including protocol upgrades, treasury allocations, and ecosystem grants.
Half of the transaction fees collected in LAYER will be burned, creating a deflationary mechanism.
Editors note
Tokens "Solayer (LAYER)" and "UniLayer (LAYER)" refer to two different cryptocurrencies with distinct functionalities.
Solayer is a restaking protocol on the Solana blockchain, while UniLayer is a platform for decentralized trading.
Disclaimer. This article is for informational purposes only and should not be viewed as an endorsement by CoinIdol. They are not a recommendation to buy or sell cryptocurrency. Readers should do their research before investing in funds.
