Layer-1 blockchains are the foundational networks that support a myriad of applications and services in the blockchain world. This article delves into the best Layer-1 blockchains to watch in 2024, focusing on their unique features and potential impact on the crypto ecosystem.

Layer-1 is the cornerstone of blockchain technology. These blockchains are the pillars of the crypto ecosystem, fundamentally ensuring security and consensus. From Ethereum’s transition to Proof of Stake to the rise of environmentally friendly blockchains, the crypto space is exploring ways to address the limitations of Layer-1 blockchain networks, giving rise to Layer-2 and Layer-3 protocols. (This article is from the WeChat public account “Li Liubai”)

What is a Layer-1 Blockchain?

A Layer-1 blockchain, also known as the base layer, is the core underlying network where transactions are finalized and recorded. Unlike Layer-2 solutions, which enhance scalability and speed based on existing blockchains, Layer-1 protocols are independent networks with their own consensus mechanisms and security models. These networks are crucial for ensuring decentralized, secure, and transparent transaction processing, making them vital in the burgeoning world of digital assets.

What Makes Layer-1 Networks Unique?

Layer-1 blockchains serve as the foundational framework of the cryptocurrency world, offering numerous advantages essential for the operation and growth of the digital economy:

1. Decentralization, Security, Immutability, and Transparency: Layer-1 blockchains ensure no single entity controls the network, transactions are permanent and accurate, and all transactions are visible, fostering trust and accountability.
2. Independence: They operate independently, executing transactions and smart contracts without relying on external systems. They also employ various consensus mechanisms, such as Proof of Work (PoW) or Proof of Stake (PoS), for transaction verification and network integrity.
3. Native Tokens: Most Layer-1 blockchains support native tokens essential for the network economy, used for transaction fees, staking, and governance, enhancing the network’s utility and value.
4. Flexible Foundation for Decentralized Applications: As the base layer of blockchain technology, Layer-1 blockchains are widely accepted and integrated into various systems and services, providing developers with a flexible foundation for building a range of decentralized applications.
5. Network Effects: Popular Layer-1 blockchains benefit from strong network effects. They are generally more resistant to network congestion than Layer-2 solutions because more users increase their value and utility. While Layer-2 solutions can alleviate some immediate congestion on Layer-1, they still rely on the foundational security and finality provided by Layer-1.

In summary, Layer-1 blockchains are indispensable in the digital asset ecosystem, providing the essential infrastructure for secure, transparent, and decentralized transaction processing.

Best Layer-1 Blockchains to Watch

Top Layer-1 Blockchains and Their TVL | Source: CoinGecko

Based on popularity, market capitalization, on-chain activity and adoption levels, as well as the market performance of native cryptocurrencies in 2023, we have compiled a list of the best Layer-1 networks to watch:

1.Solana (SOL)

Solana TVL: $3.46 billion

SOL market capitalization: $61 billion

SOL price increase (one year): 464%

Solana is renowned for its high throughput and low transaction costs, making it a robust Layer-1 blockchain. Its innovative consensus mechanism, combining Proof of History (PoH) with Proof of Stake (PoS), achieves extremely high speed and efficiency, making it a popular choice for decentralized applications (dApps). SOL tokens are primarily used to pay transaction fees and execute smart contracts on the Solana blockchain. They are also staked by validators and delegators to secure the network through its PoS consensus mechanism. As of the writing of this article, Solana has surpassed XRP to become the fifth most valuable cryptocurrency by market capitalization.

In 2023, Solana’s ecosystem made significant strides, solidifying its position in the cryptocurrency space. The introduction of the Solana Improvement Document (SIMD) formalized the process for developers to propose protocol enhancements, with 79 SIMDs written since its launch. The development of Firedancer represents a major upgrade for Solana validators, aiming to significantly increase transaction speeds. Solana emphasizes network security and decentralization, with over 2,000 nodes and a commitment to validator diversity. The successful integration of Helium into the Solana platform in 2022 demonstrated its strong support for decentralized systems.

The ecosystem has also seen a surge in various projects, including memecoins and related airdrops (e.g., the BONK airdrop), DeFi protocols (notably liquid staking protocols like Marinade Finance and Jito), NFT marketplaces, and unique applications like Raydium, Orca, STEPN, Star Atlas, Audius, and The Graph. Jupiter, a key player in the Solana DeFi ecosystem, has made substantial progress, launching the Jup token and developing a world-class routing engine. Collaborations with Google Cloud and AWS aim to enhance network transparency and simplify the deployment of RPC nodes and consensus. Lastly, the launch of Solana Mobile Saga and the partnership with Helium Mobile highlight Solana’s commitment to expanding its ecosystem and integrating innovative technologies. The Solana Saga smartphone was quickly sold out after the announcement of the BONK airdrop to users in December 2023.

2.Avalanche（AVAX）

• Avalanche TVL: $1.5 billion
• AVAX Market Cap: $13.4 billion
• AVAX Price Increase (1 Year): 83%

Avalanche (AVAX) is a high-performance, scalable Layer-1 blockchain platform designed for decentralized applications and custom blockchain networks. It stands out due to its fast transaction processing speed, achieving finality within two seconds, which is one of its key advantages. Its unique consensus mechanism combines elements of classical consensus and Nakamoto consensus, offering a strong combination of security, scalability, and decentralization, making it a prominent player in the blockchain space. AVAX tokens are used to pay transaction fees, secure the network through staking, participate in the consensus mechanism, and serve as the basic unit of account across various subnets within the Avalanche ecosystem.

In 2023, the Avalanche ecosystem experienced significant growth, and the AVAX price saw a substantial increase, boosting its market value and trading activity. The Avalanche C-Chain set new records, with an estimated total of 3.07 million transactions, indicating a rising adoption rate of the network. Inscription transactions now account for over 50% of all transactions on the Avalanche network, leading to a significant increase in network fees. In just five days, Avalanche users paid up to $13.8 million in transaction fees for minting and moving inscription-related tokens. The increase in network activity and higher demand for block space have driven up transaction costs.

The surge in registrations and transactions has also led to a significant increase in the amount of AVAX tokens burned within the network. The Avalanche C-Chain reached a historic high of 2.3 million daily transactions on November 19, with an average of 450,000 transactions per day. The spike in ASC-20 tokens resulted in the Avalanche mainnet processing over 40 transactions per second, with block finality times of approximately one second. High-profile collaborations, including a partnership with JPMorgan Chase’s blockchain Onyx, have been a crucial part of Avalanche’s growth, demonstrating its utility and recognition across various sectors.

3. Kaspa (KAS)

• Kaspa TVL: Not Applicable
• KAS Market Cap: $2.7 billion
• KAS Price Increase (1 Year): 257%

Kaspa (KAS) is a decentralized blockchain network that utilizes an innovative consensus mechanism called “GHOSTDAG” to achieve fast transaction processing and scalability. Its advantages include a high block rate and instant finality, making its network significantly faster and more scalable compared to traditional blockchain architectures. KAS tokens are primarily used to pay transaction fees within the network and serve as a means of exchange, facilitating economic activities and incentivizing miners to secure the system.

In 2023, the emerging cryptocurrency Kaspa (KAS) made significant strides within its ecosystem. The shift to Dag Knight consensus (an evolution of the GHOSTDAG protocol) marked a leap in blockchain efficiency, offering faster transaction and confirmation speeds. Kaspa transitioned from GoLang to Rust to leverage the potential of modern computing hardware, aiming to achieve unprecedented transaction and block processing speeds. The development of high-performance mobile wallets addressed the need for mobile-friendly cryptocurrency solutions. Kaspa also increased the number of blocks and transactions processed per second, with Rust playing a key role in this enhancement.

The native token KAS saw its value soar by over 1,800% in 2023, reflecting growing interest in the Kaspa ecosystem. Improvements enabling P2P communication for archival nodes allowed for expanded data retrieval and access to more historical data sets. Plans are underway to establish Kaspa as a fast, scalable, and secure Layer-1 PoW cryptocurrency, focusing on building a robust platform for smart contracts and decentralized applications. These developments highlight Kaspa’s commitment to advancing its blockchain technology and enhancing the utility and efficiency of its network.

4. Bitcoin (BTC)

• Bitcoin TVL: $1.1 billion
• BTC Market Cap: $1.2 trillion
• BTC Price Increase (1 Year): 108%

As the pioneer of cryptocurrencies, Bitcoin remains the cornerstone of the Layer-1 domain. Bitcoin (BTC) is the first decentralized digital currency, launched in 2009 by an anonymous individual or group under the pseudonym Satoshi Nakamoto. Its primary strengths lie in its groundbreaking blockchain technology, high security, immutability, and status as the most recognized and widely adopted cryptocurrency. Bitcoin is often referred to as “digital gold” due to its use as a store of value and medium of exchange, limited supply of 21 million coins, and decentralized nature. Bitcoin halving events, which occur approximately every four years, reduce block rewards and create scarcity in newly mined bitcoins.

In 2023, the Bitcoin ecosystem witnessed several significant developments, reflecting its ongoing evolution in the cryptocurrency world. The introduction of the Bitcoin Ordinals protocol enabled the minting of non-fungible tokens (NFTs) directly on the Bitcoin blockchain, such as ORDI, SATS, RATS, and DOVI. Despite challenges, the emergence of infrastructure advancements and developer incentives catalyzed the growth of the Bitcoin ecosystem.

Various Bitcoin sidechains and Layer-2 solutions (such as Stacks) have emerged to address Bitcoin’s limitations in supporting smart contracts, opening new possibilities for complex ecosystem operations and DeFi applications. The ecosystem has explored derivative protocols like Atomicals and ARC20, which use Bitcoin’s smallest unit, the satoshi, to represent tokens. Lightning Labs’ release of the Taproot Assets protocol utilizes information in UTXO scripts on the Bitcoin network to record various assets, showcasing Bitcoin’s versatility.

5.The Open Network（TON）

• TON TVL: $145 million
• TON Market Cap: $21.9 billion
• TON Price Increase (1 Year): 169%

The Open Network (TON), originally conceptualized and launched by Telegram founders Nikolai and Pavel Durov, is a decentralized Layer-1 blockchain designed for high scalability and user-friendliness. After facing regulatory conflicts with the U.S. Securities and Exchange Commission over a $1.7 billion initial coin offering (ICO), Telegram distanced itself from the project in 2020. Since then, the development has been taken over by the TON Foundation and a vibrant independent community of developers known as NewTON. The blockchain operates on a multi-layer structure, incorporating sharding to enhance efficiency and handle a large volume of transactions.

Toncoin, the native cryptocurrency of TON, is crucial for facilitating transactions and governance within the network. Users can stake Toncoin to participate in network validation or use it to pay for transaction fees, decentralized storage, and other network services. Over the past few years, the TON ecosystem has expanded to include various decentralized applications (dApps), such as social platforms, DeFi services, and NFT marketplaces, fostering a robust development environment.

In terms of ecosystem development and market performance, TON introduced several significant features in 2023, including decentralized file storage and a dedicated payment system supporting high-speed off-chain transactions. These advancements have contributed to TON’s utility in web3 applications and decentralized services. In March 2024, Telegram announced plans to allocate 50% of its advertising revenue to channel owners, with payments processed via the TON blockchain and paid in Toncoin. This announcement led to a 40% surge in Toncoin’s value, providing a practical application for the cryptocurrency associated with Telegram.

An upcoming event of great interest to investors and users is Telegram’s potential initial public offering (IPO), which could significantly impact Toncoin’s utility and market perception. If Telegram integrates more blockchain features, particularly utilizing Toncoin within its vast user base, it could enhance the token’s utility and demand, potentially increasing its value.

6.Internet Computer（ICP）

Internet Computer TVL: $88 million

ICP Market Cap: $5.7 billion

ICP Price Increase (1 Year): 112%

Internet Computer (ICP), developed by the DFINITY Foundation, is a blockchain-based platform designed to extend traditional blockchain functionalities by hosting smart contracts and entire software systems on-chain. Its unique selling point (USP) is its ambitious goal to reshape the internet by facilitating a decentralized, serverless cloud computing environment. ICP tokens are primarily used for processing transactions and smart contracts on the network, rewarding network participants, and managing the protocol through the Network Nervous System (NNS).

In 2023, the Internet Computer (ICP) ecosystem experienced significant advancements that enhanced its decentralized computing capabilities. The integration of Websockets enabled real-time interactive applications, while the expansion of stable memory allowed for more complex applications. Canisters can now make secure HTTPS outbound calls to Web 2.0, broadening the scope of smart contract applications. Direct integration with the Bitcoin network has simplified cross-blockchain transactions, eliminating the need for intermediaries.

The Internet Computer ecosystem now supports the issuance of permissionless tokens for DAO governance under the Service Nervous System (SNS), potentially increasing DAO engagement. The DFINITY Foundation further stimulated growth by funding new services and solutions. Additionally, the surge in community and NFT projects, including social media platforms and marketplaces, reflects the organic growth and innovation within the ecosystem.

7. Sei (SEI)

• Sei TVL: $27 million
• SEI Market Cap: $1.37 billion
• SEI Price Increase (1 Year): 6,000%

Sei (SEI) is a Layer-1 blockchain specifically designed for DeFi applications, providing a high-speed, efficient environment for trading and financial transactions. Its advantages include a focus on optimizing order book functionality and integrating a native matching engine, which significantly reduces latency and enhances the efficiency of decentralized exchanges (DEX) and other financial protocols. SEI tokens are used within the ecosystem to pay transaction fees, participate in network governance, and potentially for staking purposes, playing a crucial role in maintaining and operating the network.

In 2023, the Sei network drove its development in the blockchain and cryptocurrency space through a series of strategic advancements. The Sei ecosystem fund grew to $120 million, thanks to a $50 million injection from Foresight Ventures, aimed at supporting various Web3 applications in the NFT, gaming, and DeFi sectors. This followed a previous $30 million raise from multiple investors. Sei’s growth strategy emphasizes penetrating the Asian market, leveraging the region’s technological advancements and high cryptocurrency adoption rate, including partnerships with entities like Graviton in India.

Technically, Sei excels in on-chain optimizations, enhancing the performance and scalability of decentralized exchanges and trading applications, making it an attractive choice for developers. Additionally, the Sei ecosystem fund supports early-stage founders and teams, fostering innovation and expansion within its ecosystem.

8.Sui (SUI)

• Sui TVL: $557 million
• SUI Market Cap: $1.54 billion
• SUI Price Increase (1 Year): -73%

Sui is a new blockchain platform designed for high throughput and scalability, focusing on supporting various decentralized applications (dApps) with fast and efficient performance. Its advantages include an innovative consensus mechanism and the use of the Move programming language, providing developers with enhanced security and flexibility. These features, combined with its ability to process a large volume of transactions at low cost, form its unique selling proposition. SUI tokens are used within the ecosystem to pay transaction fees, participate in network governance, and potentially for other utility purposes as the network evolves.

In 2023, the Sui ecosystem made significant progress through strategic token redistributions to support its community and DeFi applications, reallocating 157 million SUI tokens to various programs. Following its mainnet launch and listing on major exchanges including KuCoin, Sui demonstrated its scalability with a record-breaking daily transaction volume of 65.8 million and a TVL peak of $188 million, making it one of the top 10 blockchains by TVL.

The introduction of zkLogin revolutionized user access to dApps, enhancing privacy using Web 2 social accounts. Additionally, the launch of the TurboStar program on Turbos DEX stimulated the growth of ecosystem projects through fundraising support, increased visibility, and presale access, while implementing measures to protect investors and providing zero-commission benefits for Sui projects.

9.Aptos（APT）

Aptos TVL: $342 million

APT Market Cap: $3.8 billion

APT Price Increase (1 Year): -27%

Aptos is a Layer-1 blockchain focused on providing high scalability, reliability, and usability for decentralized applications (dApps). Its advantages include the use of the Move programming language for secure and flexible smart contract development, and its unique selling point lies in its efficient parallel execution engine that boosts transaction speed and throughput. APT tokens are primarily used to pay transaction fees within the Aptos network, participate in network governance, and potentially for staking purposes to secure the network.

In 2023, the Aptos (APT) ecosystem flourished, supported by a strong technical team and over $400 million in funding from prominent investors such as Tiger Global and PayPal Ventures. Aptos’ technological strengths are characterized by the Move programming langua​​ge and scalable transaction processing through parallel execution, which helped its TVL surpass $85 million, reflecting growing trust and adoption. Network activity surged, with transaction volumes frequently reaching hundreds of thousands and a significant increase in new accounts.

Strategic expansion and partnerships further enriched the ecosystem: Aptos integrated with Sushi to enhance decentralized financial services, collaborated with Coinbase Pay for seamless transactions in the Petra wallet, and ventured into gaming and entertainment with partners like Microsoft, NEOWIZ, MARBLEX, and Lotte Group. Additionally, Aptos introduced new digital asset standards for real-world applications and infrastructure updates, such as an indexer for NFT notifications and an advanced multi-signature solution by MSafe.

10.Polkadot（DOT）

Polkadot TVL: $230 million

DOT Market Cap: $9.6 billion

DOT Price Increase (1 Year): -0.39%

Polkadot is a multi-chain blockchain platform that enables different blockchains to transfer messages and value in a trustless manner, sharing their unique features while pooling their security. Its advantages include interoperability, a scalable multi-chain architecture, and the ability to connect and secure specialized blockchain networks (parachains). DOT tokens serve multiple key functions within the Polkadot network, including governance participation, staking for network security, and bonding for connecting parachains.

In 2023, the Polkadot (DOT) ecosystem experienced a surge in innovation and growth, with a record 19,090 developers contributing on GitHub in March, enhancing application and network security. The introduction of parathreads provided an economical model for blockchains, while next-generation scheduling improved the network’s scalability and flexibility.

The release of Polkadot 2.0 promised upgrades in scalability, governance, and interoperability. Staking on the network increased by 49% due to new nomination pools, expanding user participation and network security. Notable integrations included Circle’s USDC and the launch of the Rocco Testnet, aimed at optimizing transactions and user experience. The ecosystem also expanded through the addition of five new parachains, technical enhancements in scalability, and initiatives to attract institutional investors, including services from Zodia Custody.

11.Cosmos（ATOM）

Cosmos TVL: $1.25 million (Cosmos Hub)

ATOM Market Cap: $3.1 billion

ATOM Price Increase (1 Year): -36%

Cosmos is a decentralized network composed of independent blockchains, aiming to address scalability and interoperability issues in blockchain technology. Its main advantage lies in the Inter-Blockchain Communication (IBC) protocol, which allows different blockchains to interact and share data while maintaining their sovereignty, forming its unique selling proposition (USP). ATOM tokens are primarily used for staking (securing the network) and governance, giving holders a voice in decisions about the network’s future.

In 2023, the Cosmos (ATOM) ecosystem experienced significant growth through key developments such as the introduction of interchain security, enhancing the security of smaller blockchains within the network. Cosmos Hub’s on-chain activity surged, with an average daily transaction volume of 500,000 and ATOM transaction volume reaching 20 million, reflecting its increasing popularity. The Theta upgrade introduced interchain accounts, enhancing cross-chain interactions, while the Rho upgrade brought Liquid Staking and NFT modules, expanding network functionality.

The Cosmos Hub 2.0 whitepaper outlined a new vision for the Hub and the evolving role of the ATOM token. The Interchain Foundation allocated $26.4 million in 2024 for developing the Interchain Stack, complemented by optimistic views from investors like Arthur Cheong, especially considering the migration of dYdX and the integration of Noble’s USDC, indicating promising capital inflow and further ecosystem expansion.

12. Ethereum (ETH)

Ethereum TVL: $49 billion

ETH Market Cap: $371 billion

ETH Price Increase (1 Year): 47%

Ethereum holds a dominant position in the Layer-1 domain with the largest developer community and a thriving dApp ecosystem, hosting over 3,000 active applications. Launched in 2015 by Vitalik Buterin and others, Ethereum has evolved beyond its initial role as a digital currency platform to become the largest ecosystem for decentralized applications (dApps), non-fungible tokens (NFTs), and decentralized finance (DeFi). At its core, Ethereum provides a decentralized, open-source blockchain system that allows developers to build and deploy applications using its native cryptocurrency, Ether (ETH), without the need for central authority support.

Ethereum’s primary strengths include its first-mover advantage and its extensive developer community. This community has contributed to a rich ecosystem of tools, frameworks, and protocols, driving innovation and growth. In 2023, Ethereum continued its journey towards Ethereum 2.0, achieving significant milestones in improving scalability, security, and sustainability. Major developments included further enhancements to its Layer-2 scaling solutions, such as rollups, which have been crucial in reducing fees and increasing transaction throughput.

Looking ahead to 2024, the Ethereum community anticipates fully realizing the benefits of Ethereum 2.0, with a particular focus on improving scalability and energy efficiency. The completion of the transition to proof-of-stake is expected to further reduce Ethereum’s environmental impact and enhance its appeal to environmentally conscious investors and users. Additionally, the ongoing development of Layer-2 solutions and the potential for further integration with other blockchains suggest that Ethereum’s ecosystem will become more interconnected, scalable, and user-friendly than ever before.

13.BNB Chain（BNB）

• BNB Chain TVL: $5.2 billion
• BNB Market Cap: $82 billion
• BNB Price Increase (1 Year): 64%

BNB Chain, formerly known as Binance Smart Chain (BSC), is a blockchain platform developed by Binance, the world’s leading cryptocurrency exchange. Launched in September 2020, BNB Chain operates alongside Binance Chain, providing a high-performance network designed to run smart contract-based applications. BNB Chain features a dual-chain architecture, allowing users to seamlessly transfer assets between blockchains for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.

Compared to Ethereum, BNB Chain has a young but rapidly growing ecosystem, with over 1,300 active dApps as of October 2023. Its native token, BNB, serves as the platform’s fuel and is widely adopted within and outside the Binance ecosystem. Unlike Ethereum’s current state, BNB Chain’s Proof of Staked Authority (PoSA) consensus mechanism enables faster and cheaper transactions. Additionally, it supports existing Ethereum dApps and tools seamlessly, attracting developers familiar with the Ethereum ecosystem.

In 2023, the project was officially renamed BNB Chain, marking a broader vision beyond Binance exchange integration and emphasizing DeFi and NFT capabilities. It also introduced a separate PoS chain for staking and governance, enhancing security and decentralization. The expansion of cross-chain bridges improved interoperability between BNB Chain and other blockchain ecosystems. By 2024, expect a greater focus on Layer-2 integrations and potential sharding implementations to enhance scalability within the BNB Chain ecosystem. Anticipate more strategic partnerships, innovative DeFi protocols, and NFT projects launching on the blockchain.

14. Kava (KAVA)

Kava TVL: $193 million

KAVA Market Cap: $704 million

Kava Price Change (1 year): -30%

Kava stands out as a unique Layer-1 blockchain by combining the scalability and interoperability of the Cosmos SDK with an EVM-compatible chain, enabling Ethereum dApps to leverage Kava’s capabilities. This “co-chain” architecture positions Kava as a hub for innovative DeFi applications, offering fast transactions, low fees, and access to various assets. Compared to established giants like Ethereum, Kava has a smaller but rapidly growing ecosystem, with over 110 active dApps and a TVL exceeding $250 million. Its native token, KAVA, serves as the platform’s governance and staking token, driving various DeFi activities.

Kava blockchain employs Cosmos’s Tendermint BFT consensus, ensuring high security and attack resistance. It also provides a native USD-pegged stablecoin, USDX, facilitating decentralized lending without relying on centralized oracles. The recent Kava 14 upgrade introduced the capability to mint USDt directly on Cosmos, supported by strategic partnerships and integrations, enhancing liquidity and usability across the DeFi landscape.

In 2023, Kava launched significant upgrades, Kava 12 and Kava 13, focusing on enhancing the flexibility of Cosmos DAO, expanding the ecosystem to meet growing demand, and optimizing user experience. The integration of major stablecoins and bridges, along with an emphasis on security and governance, further solidified Kava’s position as a leading blockchain platform. A pivotal change in Kava’s journey was the transition to a fixed supply of KAVA tokens, introduced as part of the “Kava Tokenomics 2.0” upgrade. This shift aims to promote greater adoption and scarcity, potentially impacting liquidity and market dynamics. The establishment of a community-owned strategic treasury with over $300 million in assets signifies a deeper commitment to decentralization and community value growth.

15.ZetaChain（ZETA）

ZetaChain TVL: $3.25 million

ZETA Market Cap: $325 million

ZETA Price Increase (1 year): 133%

ZetaChain aims to become the first truly “universal chain” Layer-1 blockchain, revolutionizing interoperability. It can connect and interact with any blockchain regardless of its architecture or native smart contract capabilities. This enables seamless asset transfers, data exchanges, and even smart contract executions across different chains, promoting a unified Web3 experience.

As a relatively new entrant launched in March 2023, ZetaChain’s ecosystem is still young but rapidly evolving. They currently have over 20 active dApps and have established strategic partnerships with well-known companies such as Chainlink and The Sandbox. One of ZetaChain’s main advantages is its ability to offer full-chain smart contracts, allowing for seamless interaction between any blockchains. This unique feature addresses the challenges associated with cross-chain and multi-chain environments, making it a valuable asset for developers and users seeking interoperable solutions in the DeFi space.

In 2023, ZetaChain achieved remarkable milestones, including over 1,000,000 active users on the testnet from more than 100 countries. The platform also recorded over 6.3 million cross-chain transactions and supported the deployment of over 200 dApps on its testnet, indicating a robust and rapidly developing ecosystem. Significant progress in 2023 includes strategic partnerships with entities like Ankr Protocol to accelerate access to Web3 infrastructure and securing $27 million in funding to enhance interoperability within the blockchain ecosystem. Collaborations with platforms like BYTE CITY and Ultiverse aim to bring cross-chain functionality to social entertainment and gaming, further expanding ZetaChain’s utility and reach.

Layers 1 and 2: Continuous Evolution

The ongoing development of Layer-1 and Layer-2 solutions reflects the dynamic nature of blockchain technology. While Layer-2 solutions address scalability and speed issues, Layer-1 blockchains remain foundational, ensuring the security, decentralization, and infrastructure of the crypto world.

The relationship between Layer-1 and Layer-2 solutions is symbiotic. Although Layer-2 enhances performance, it relies on the security and decentralization of Layer-1 blockchains. Both layers are evolving together. Improvements in Layer-1 (such as sharding in Ethereum) can enhance Layer-2 performance. Similarly, successful Layer-2 solutions can inform and inspire Layer-1 upgrades. As blockchain technology finds more mainstream applications, this dual-layer development approach is likely to continue, requiring a balance between security, decentralization, scalability, and speed.

Exploring the Differences Between Layer-1 and Layer-2 Blockchains

Conclusion

Entering 2024, Layer-1 blockchains remain at the forefront of the crypto revolution. Their continuous evolution and adaptation are crucial to meeting the diverse and growing needs of the digital world. From Solana’s impressive speed to Bitcoin’s unmatched security, each Layer-1 blockchain offers unique attributes that contribute to the rich tapestry of the blockchain universe.

Layer-2 enhances performance but relies on the security and decentralization of Layer-1 blockchains. This synergy ensures a balance: Layer-1 provides a secure and decentralized foundation, while Layer-2 delivers scalability and speed.

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