AliceNet is a layer 2 blockchain designed to enable trusted transactions and verifiable proofs of data across Web3. AliceNet is a hybrid of Bitcoin’s Unspent Transaction Output (UTXO) and Ethereum’s account-based architecture, which gives it improved efficiency for transaction processing, flexibility, and scalability. This UTXO-based transaction model enables users to get all of the benefits of complex logic handling that comes with predefined smart contracts, but without requiring smart contract code – or even deploying a smart contract at all.

AliceNet bridging allows for transactions across the Ethereum mainnet and Ethereum-based L2 chains. To enter into a bridge within AliceNet, assets must first be deposited into a bridge pool. Each bridge pool is uniquely based on an object or asset type with an associated fee that can only be paid with ALCB.

ALCA is the new token that will be used for staking and participation in the governance system for AliceNet.