When Web3 OGs Launch Startups – Amrit Kumar, COO of AltLayer

The world of Web3 is a complex and ever-evolving space, filled with new technologies, innovative ideas, and a diverse range of players. Among them are the “OGs” - original gangsters - who have been around since the early days of blockchain and have witnessed the transformation of this technology from its infancy to the present day. One such OG is Amrit Kumar, COO of AltLayer, a decentralized platform that leverages blockchain technology to provide a secure, transparent, and censorship-resistant ecosystem for decentralized applications (dApps).

Amrit’s journey into the world of Web3 began in academia, where he pursued a doctorate in computer science from France. Following his postdoctoral research in Singapore, he made the transition to entrepreneurship, co-founding AltLayer with fellow Web3 OG, Siddharth Jain. The duo’s vision was to create a platform that would enable developers to build dApps without worrying about the underlying infrastructure, while also ensuring the security and decentralization that blockchain technology affords.

So, what prompted Amrit to make the leap from academia to entrepreneurship? According to him, it was all about working on challenging problems with the right people. “In academia, I was focused on research and publishing papers,” he says. “But as I delved deeper into blockchain technology, I realized that there were bigger problems to solve, and that I could make a real impact by building solutions that people could use.”

Amrit’s move to Singapore also played a significant role in his transition to entrepreneurship. The city-state has emerged as a hub for Web3 innovation, with a thriving ecosystem of startups, investors, and research institutions. “Singapore has a great mix of talent, resources, and regulatory support,” Amrit notes. “It’s the perfect place to build a Web3 startup.”

However, building a startup in the Web3 space comes with its unique set of challenges. For one, there’s the issue of scalability. Blockchain technology is notorious for its slow transaction times and high energy consumption, making it difficult to build applications that can handle large volumes of users. Then there’s the issue of user adoption. Many people are still wary of blockchain technology, and convincing them to use dApps can be a tough sell.

To overcome these challenges, AltLayer has developed several innovative solutions. One of them is their unique consensus algorithm, called Proof-of-Useful-Work (PoUW), which enables the platform to scale while maintaining security and decentralization. “We realized that most blockchain networks are not utilizing their computational resources efficiently,” Amrit explains. “With PoUW, we can harness the power of underutilized computing resources to validate transactions and create a more sustainable network.”

Another challenge that AltLayer has addressed is user adoption. The platform’s user interface is designed to be intuitive and easy to use, making it accessible to developers who may not have experience with blockchain technology. Additionally, AltLayer has developed partnerships with various organizations to drive adoption of dApps built on the platform.

Amrit’s advice for aspiring Web3 entrepreneurs is simple: “Focus on solving real-world problems, and don’t be afraid to experiment.” He believes that the key to success in this space is to be adaptable and open to learning from mistakes. “Web3 is still a relatively new field, and there’s a lot of room for innovation and growth,” he notes. “By working on challenging problems with the right people, you can create solutions that have a real impact.”

In conclusion, Amrit Kumar’s journey from academia to entrepreneurship is a testament to the power of innovation and collaboration in the Web3 space. With AltLayer, he has created a platform that not only addresses the challenges of scalability and user adoption but also empowers developers to build dApps that can change the world. As the Web3 ecosystem continues to evolve, it’s clear that Amrit and his fellow OGs will play a significant role in shaping its future.