About ALT (Alphabet)
Alphabet Network implements Ethereum Virtual Machine (EVM) which makes it possible to run Ethereum-based applications such as MetaMask, Hardhat, Remix, and all tools that support Ethereum bytecode.
The Alphabet Network uses IBFT 2.0 proof of authority consensus, with network validators being run by key stakeholders. IBFT 2.0 is over 99% more energy efficient than proof of work (PoW) networks.
Each block in IBFT 2.0 requires at least one round of voting by the validator to arrive at a consensus, which is recorded as a collection of signatures on the block content. In general, a supermajority of validators must confirm that a block is valid for the block to be added to the blockchain. A validator's voting power is proportional to the amount of stake they have locked up on the network. This means that validators with more stake will have more voting power and, therefore, more influence over the decision-making process on the network. IBFT 2.0 is over 99% more energy efficient than proof of work networks.
About ALT (Alphabet) Transaction Fee
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