Layer 1
Explore Layer 1 blockchains: secure, decentralized, and scalable foundations for the crypto ecosystem.
Top gainers this week
Top losers this week
$NEAR · 7 days on top this week
$CELL -82 places this week
$VLX -41 places this week
$ORC -40 places this week
A standout this week: $NEAR reached a gem score of 81
47 tokens rose and 74 fell this week
$ALEO +47 places this month
Frequently asked questions
How has Layer 1 performed recently?
The Layer 1 category has shown mixed signals over the past week, with 48 tokens rising and 74 falling. IoTeX Network (IOTX) was a significant climber, increasing its score by 92.4% and its rank by 31 positions. WAXP Token and TLOS also saw notable rank increases. Conversely, Cellframe Token (CELL) experienced a sharp decline, dropping 83 ranks and its score by 49.5%. Orbit Chain (ORC) and Ultima (ULTIMA) also fell significantly. NEAR Protocol (NEAR) emerged as the score leader, maintaining a 7-day streak and holding the highest score. Over the last 30 days, the category saw more tokens on the rise, with 83 tokens up and 39 down. BELDEX led the climbers with a remarkable 158.6% score increase, while Cellframe Token (CELL) continued its downward trend, falling 84 ranks. NEAR Protocol (NEAR) extended its strong performance, leading streaks for 29 days and entering the top K, joined by Avalanche (AVAX).
What defines a Layer 1 blockchain?
A Layer 1 blockchain is a base network that processes and finalizes transactions on its own independent chain. It is the fundamental infrastructure upon which decentralized applications and other layers are built.
What are the core characteristics of Layer 1 blockchains?
Layer 1 blockchains are typically characterized by their ability to achieve decentralization, security, and scalability. They implement their own consensus mechanisms, such as Proof-of-Work or Proof-of-Stake, to validate transactions and secure the network.
Why are Layer 1 blockchains important for the cryptocurrency ecosystem?
Layer 1 blockchains are crucial because they provide the foundational security and infrastructure for the entire ecosystem. They enable the creation and execution of smart contracts, host various decentralized applications, and support the issuance of other tokens.
What challenges do Layer 1 blockchains face?
Layer 1 blockchains often grapple with the 'blockchain trilemma,' a challenge in simultaneously optimizing decentralization, security, and scalability. Enhancing one aspect can sometimes lead to trade-offs in the others, leading to ongoing development and innovation to improve performance.