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Understanding the layer 1 blockchain?

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Understanding the layer 1 blockchain??!

A layer 1 blockchain is a type of blockchain that is able to process transactions without the need for a third party. This means that the network is able to run on its own and does not require any other type of support in order to function. Layer 1 blockchains are often seen as being more secure and efficient than other types of blockchains.



A layer 1 blockchain is a type of blockchain that is able to process transactions without the need for a third party. This means that the network is able to run on its own and does not require any other type of support in order to function. Layer 1 blockchains are often seen as being more secure and efficient than other types of blockchains.


Visit our site to read about layer 2  blockchain solution .

what is layer 1 and layer blockchain?

Layer 1 network refers to the backbone network such as Bitcoin BNB Chain or Ethereum and its underlying infrastructure. Layer 1 blockchains can verify and complete transactions without resorting to another network. As we have seen with Bitcoin increasing the scalability of a layer 1 network is often difficult. In response, developers are creating Layer 2 protocols based on Layer 1 networks to Ensure security and consensus. Bitcoin’s Lightning Network is an example of a layer 2 protocol that allows users to freely execute transactions before publishing them to the main chain.


"Layer 1" and "Layer 2" are terms that help understand different blockchain architectures and different development projects and tools. if you ever thought Relationship between Polygon and Ethereum or Polygon and its parachains Understanding the differences in blockchain layers will be useful to you.


Layer 1 is another name for blockchain. BNB Smart Chain (BNB) Ethereum (ETH) Bitcoin (BTC) and Solana are all Layer 1 protocols we call them Layer 1 because they are the core networks in their respective ecosystems. On the opposite Layer 1 solutions are off-chain and other layer 2 solutions are built on top of the main chain.


In other words when a protocol processes and completes transactions on its own blockchain it is called layer 1. These protocols also have their own native tokens for paying transaction fees.


Layer 1 scaling solution

A common problem with Tier 1 is that they don't scale. During times of high demand Bitcoin and other major blockchains struggle to process all transactions. Bitcoin uses a proof-of-work consensus mechanism (PoW) Which requires a lot of computer resources.


If PoW provides decentralization and security proof-of-work networks also tend to lose momentum when transaction volumes are too high. Confirmation times and fees are increasing.


Blockchain developers have been working on scalability solutions for years but discussions are still ongoing to find the best solution. There are several options for scalability of a layer 1 network:


  • Increase the block size to allow more transactions per block.
  • Implement sharding. A form of database partitioning.


Improving a Layer 1 network is no easy task. In many cases, not all web users will agree to these changes. This can sometimes lead to splits or even hard forks just like Bitcoin and Bitcoin Cash in 2017.


What is sharding on Layer 1 networks?


Sharding is a fairly popular scalability solution for layer 1 networks that increase transaction speed. This technique is a form of database partitioning but can be applied to registers blockchain. The network and its nodes are divided into shards to distribute workload and increase transaction speed. Each shard handles a subset of the overall network activity which means It has its own independent transaction nodes and blocks.

With sharding, each node does not need to maintain a complete copy of the entire blockchain. Instead, each node reports completed work back to the main chain to share the state of their local data including balances and other key metrics.

Comparison of Layer 1 and Layer 2 networks


Regarding improvements, not everything can be solved on a layer 1 network. In fact, certain changes are difficult or nearly impossible to implement on the main blockchain network due to technical limitations. For example, Ethereum will move to Proof of Stake (PoS) but the implementation of this process will take several years.

Due to a lack of scalability, some use cases simply cannot run on a layer 1 network. Blockchain games cannot actually use the Bitcoin network due to transaction delays. But the game Layer 1 security and decentralization can still be used. Your best bet is to build on the web with a layer 2 solution.

What is Lightning Network


layer 2 solutions rely on layer 1 solutions to execute transactions. The most famous example is the Lightning Network. The Bitcoin network under heavy load can take hours to confirm transactions. lightning The network allows users to make quick payments with their bitcoins off the main chain. The closing balance is then carried forward to the main channel. This basically merges all transactions into one record Saving time and resources.

Now that we know what a layer 1 network is let's look at some examples. There are many layer 1 blockchains each with their own use cases. Not everything revolves around Bitcoin or Ethereum every network does have its solution Solving the Blockchain Trilemma: Decentralization Security and Scalability.

Top coins on layer 1 solution


Elrond

Elrond is a layer 1 network launched in 2018 that uses sharding to improve its performance and scalability. The Elrond blockchain can support 100,000 transactions per second (TPS). Its two main unique features are In its Secure Proof of Stake (SPoS) consensus protocol and adaptive state sharding.

Adaptive state sharding is achieved by splitting and dividing shards based on user losses or gains. The entire network architecture is partitioned including its state and transactions. Validator moves It is also possible to go from one shard to another reducing the risk of the malicious takeover of shards.

Elrond's native token EGLD is used to settle transaction fees to deploy DApps and reward users for participating in the network's verification mechanism. Additionally, the Elrond network is carbon certified Negative because it offsets more CO2 than its proof-of-stake mechanism produces.

Harmony

Harmony is an Effective Proof of Stake (EPoS) layer 1 using sharding. The blockchain mainnet consists of four shards each of which creates and validates new blocks in parallel. Shards can do this at their own speed which means not all shards have The block heights are not the same.

Harmony is currently using a "financial cross-chain" strategy to attract developers and users. Trustless gateways to Ethereum (ETH) and Bitcoin play a key role in this process as they allow users to Swap their tokens without the usual custodial risks. For Harmony scaling Web3 requires building a Decentralized Autonomous Organization (DAO) and zero-knowledge proofs.

The future of Defi (decentralized finance) seems to depend on multi-chain and cross-chain making Harmony's gateway service attractive to users. The gateway between NFT infrastructure DAO tools and protocols is the Main area of interest.

The ONE native token is used to pay network transaction fees. It can also be staked to participate in consensus mechanisms and governance. Validators receive block rewards and fees transactions.

Celo

Celo is a layer 1 network that emerged in 2017 from a fork of Go Ethereum (Geth). However, it has made significant changes including the implementation of a point of sale and a unique address system. Celo's Web3 Ecosystem Supports Defi and NFT payment solutions with over 100 million transactions confirmed. On Celo, anyone can use a phone number or email address as a public key. Blockchain is easy to use on Any computer that does not require any specific hardware.

Celo's CELO Master Token is a utility token for trading security and rewards. The Celo network has its stablecoins: cUSD cEUR and cREAL. These are user-generated Their PEG is maintained by a mechanism similar to MakerDAO's DAI. Additionally, transactions using the Celo stable coin can be paid using any other Celo asset.

CELO's address system and stable coins are designed to make cryptocurrencies more accessible and adaptable. Volatility in the cryptocurrency market and difficulties for newcomers can be fast depressing.

THORChain

THORChain is a permissionless decentralized exchange (DEX). It is a layer 1 network using the Cosmos SDK. It also uses the Tendermint consensus mechanism to verify its transactions. the main goal of THORChain is designed to achieve cross-chain decentralized liquidity without wrapping or rolling back assets. For multi-chain investors pegs and bundling add additional risk to the process.

THORChain acts as a vault manager by monitoring deposits and withdrawals. This creates decentralized liquidity and eliminates centralized intermediaries. The native token of RUNE THORChain is used for Paying transaction fees as well as government security and verification.

THORchain's Automated Market Maker (AMM) model uses RUNE as its base pair which means you can trade RUNE with any other supported asset. In a way, the project is like Uniswap cross-chain RUNE As a settlement means and safe asset for liquidity pools.

Kava

Kava is layer 1 combining the speed and interoperability of Cosmos with the support of Ethereum 
developers. Using a "joint chain" architecture the Kava network has a single blockchain for EVM and Cosmos SDK development environment. Combined with IBC support on the Cosmos federated chain this allows developers to deploy Cosmos and the Ethereum ecosystem.

Kava uses the Tendermint PoS consensus mechanism to provide strong scalability for federated chain EVM applications. Kava Network founded by KavaDAO provides Kava Network rewards for developers Channels are designed to reward the top 100 items on each public channel based on usage.

Kava has its own utility and governance token KAVA and its USD-backed stablecoin USDX. KAVA is used to pay transaction fees and is staked by validators to participate in network consensus. These Users can delegate their staked KAVA to validators to earn a share of the KAVA show. Stakes and validators can also vote for governance proposals that impose network parameters.

IoTex

IoTex is a layer 1 established in 2017 focusing on the fusion of blockchain and IoT. This gives users control over the data their devices generate allowing the creation of "DApps of assets and Machine-based services”. Your personal information is valuable and managing it through the blockchain ensures secure ownership.

The combination of IoTeX hardware and software provides a new solution for people to control privacy and data without sacrificing user experience. A system that allows users to earn assets The numbers from their real-world data are called MachineFi.

IoTeX has released two well-known hardware products Ucam and Pebble Tracker. Ucam is an advanced home security camera that allows users to monitor their home anytime anywhere. privacy. Pebble Tracker is a smart GPS that supports 4G and provides tracking and location capabilities. This in addition to supporting GPS data also captures environmental data in real-time especially temperature humidity and air quality.

Regarding the architecture of the blockchain, IoTeX relies on many layer 2 protocols. Blockchain provides tools to create custom networks using IoTeX. These chains can also interact with each other and Share information through IoTeX. Developers can then easily create a new substring to meet the specific needs of their IoT device. IoTeX's IOTX coins are used for collateral Network governance and verification.





Today’s blockchain ecosystem has multiple Layer 1 networks and Layer 2 protocols and it’s easy to get lost but once you master the basic concepts it’s easier to understand the structure and architecture. General. This knowledge is very useful for researching new blockchain projects, especially when focusing on network interoperability and cross-chain solutions.

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