What is layer 1 Crypto?

Solana (SOL), BNB Chain (BNB), Ethereum (ETH), and Bitcoin (BTC) are what is layer 1 crypto shape. In other words, a protocol is at layer 1 if it processes and concludes transactions on its own blockchain. In addition, they have their own native layer one cryptocurrency for transaction fees. What is layer 1 blockchain?

What is layer 1 blockchain?

Layer 1 refers to a base network, such as Bitcoin, BNB Chain, or Ethereum, and its underlying infrastructure. Layer-1 blockchains can validate and finalize transactions without the need for another network. Making improvements to the scalability of layer-1 networks is difficult, as we’ve seen with Bitcoin.

What are Layer-1 coins?

All coins issued on their own blockchain, called layer-1 coins. Learn about layer-1 coins.

What are Layer-1 solutions?

Finally, we have the layer-1 solutions. What this essentially means is improving the base protocol itself to make the overall system more scalable. The two most common layer-1 solutions are: Consensus protocol changes. Sharding.