What is Layer 1 Blockchain?
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What is Layer 1
2 Before diving deep into Layer 1 blockchains, let’s first understand, ‘what is Layer 1 blockchain?’ A Layer 1 blockchain refers to a base layer of a blockchain network and its underlying infrastructure. It is a collection of solutions that enhance the base protocol in order to make the overall network much more scalable. Such blockchain is called Layer 1 because they are the primary networks in their Theecosystem.primary feature of a public decentralized Layer 1 network is its consensus mechanism. Various consensus mechanisms offer varying levels of speed, security, and throughput. Layer 1 blockchains are the foundational blockchains that process and record transactions in their respective ecosystems. They include a native cryptocurrency that is typically used to pay fees and provide additional functionality. Popular networks such as Bitcoin, BNB Chain, or Ethereum use the Layer 1 blockchain.
3 Blockchain technology offers numerous advantages. These include increased security, improved recordkeeping, and hassle-free transactions. Scalability is critical for facilitating the addition of new applications on a blockchain network, as well as increased frequency of user activity. The various steps required for blockchain transactions frequently consume a significant amount of time and processing However,power. the Layer 1 blockchain is designed specifically to address this transaction-capacity issue. It is capable of exponentially increasing the scaling limits of blockchain and making significant progress. A Layer 1 blockchain can assist in increasing a network’s capacity to meet new processing speed and power requirements.WhyDoYou Require Layer Blockchain?1
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Layer 1 blockchain alters the underlying blockchain protocol to enable scalability. Before a transaction is validated, it is verified by multiple nodes. Mining nodes compete to solve a complex computational puzzle. The miners who solve the puzzle first are rewarded in the network’s native cryptocurrency (e.g., ONE in the case of Harmony). The protocol’s rules are changed in these solutions to increase capacity and transaction speed, allowing for more data and users.
Also, with the increasing number of blockchain users, Layer 1 appears to be falling short. As the number of users has grown, so has the workload on Layer 1 blockchain. As a result, processing speeds and capacities have slowed. When the network is congested, users will experience slower confirmation times and higher transaction fees. The throughput is further slowed because Layer 1 blockchain still employs the clunky proof-of-work consensus mechanism. Blockchain Limitations
Layer 1
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Both Layer 1 and Layer 2 solutions have distinct advantages and disadvantages. Layer 1 solutions entail changes to the base protocol of blockchain networks to improve scalability. Layer 2 solutions, on the other hand, are concerned with adding thirdparty integrations to the blockchain network’s mainnet. Changes to the base protocol in Layer 1 blockchain, such as larger block sizes or new consensus mechanisms, can help with scalability. Off-chain solutions, on the other hand, improve scalability in Layer 2 by sharing the transaction ordering and processing workload.
These strategies are not mutually exclusive, and many blockchain networks are experimenting with Layer 1 and Layer 2 scaling solutions to achieve increased scalability without sacrificing adequate security or decentralization.
Layer 1 vs. Layer 2