Layer 1 (L1)
L1 refers to independent blockchains with their own validity and consensus mechanism. Together they make out the "fundamental" layer of the blockchain network.
In general, L1s are the most fundamental type of blockchains. They serve as the basis for all other blockchains and blockchain functionality.
Why L1? L1s are vital because they provide the basis for all dApps ranging from games to decentralized exchanges.
Top Projects
1. Ethereum (ETH)
Ethereum is the second largest blockchain after Bitcoin. It features smart contract functionality, enabling dApps. The chain accounts for 70% of the total DeFi ecosystem.
2. Solana (SOL)
Solana is a high-performance blockchain known for its fast transaction speed and low cost. It is built to host scalable dApps applications like decentralized exchanges and DePIN protocols.
3. Sui (SUI)
Sui is a decentralized layer 1 blockchain developed by Mysten Lab. It is designed for high transaction speeds and low cost.
