CandleFocus What is layer-1 in crypto? What is a layer-1 blockchain?
2024-10-16
Author: Content Editor
This article discusses the concept of layer-1 blockchains in the context of cryptocurrency and blockchain technology. Layer-1 blockchain is the main network required for a cryptocurrency to function, where transactions are executed and confirmed directly on the blockchain. Layer-1 blockchains are often decentralized and offer features such as independence, transparency, and security. The article highlights three notable layer-1 blockchains: Bitcoin, Ethereum, and Binance Smart Chain. Despite the challenges they face, layer-1 blockchains continue to evolve and may incorporate layer-2 and layer-3 blockchain technologies in the future to address scalability and other issues.
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