What is an example of a layer 1 blockchain?

For example, Ethereum is a layer 1 blockchain that has layer 2 projects built on top of it, including NFT, DeFi and web3 projects. In general, layer 1s act as a settlement layer and provide the security for the network. What’s the main difference between layer-1 blockchains?

What are the different types of blockchains?

The majority of the most familiar blockchains are all layer 1 chains. Examples include Bitcoin, Ethereum, Avalanche, and Cardano. These all share certain features that define them as layer 1 chains. The individual units of the blockchain— blocks —are produced by miners (or validators) and recorded on the network’s layer 1 chain.

What is blockchain architecture?

Blockchain’s layered structure consists of a dispersed network where each participant maintains, approves, and updates new entries in a specific sequence. The blockchain architecture layers are made up of blocks that contain a list of transactions. These layers can be categorized as public, private, or consortium-based:

Is Elrond a scalable blockchain?

Elrond is one of the top names in a layer 1 blockchain list, especially considering that it has been around since 2018. The layer one blockchain leverages sharding for improving performance and scalability. With a throughput exceeding 100,000 transactions per second, the Elrond blockchain definitely offers scalability.