Questions tagged [layer 1]

ethan_thompson_journalist Fri Sep 13 2024 | 6 answers 1873

Could you please explain the differences between crypto layer 1, layer 2, and layer 3 in simple terms? I'm trying to understand the hierarchy and functionality of these layers within the cryptocurrency ecosystem. Specifically, how do they relate to each other, and what are their unique roles in facilitating transactions and scalability?

Chiara Fri Sep 13 2024 | 6 answers 1170

I'm curious to know, just how many layer 1 blockchains exist out there in the world of cryptocurrency? With so many projects and developments happening all the time, it's difficult to keep track of them all. Is there a definitive list or count that we can rely on to understand the current landscape? And if so, what factors contribute to the growth or decline of the number of layer 1 blockchains?

CryptoLodestarGuard Thu Sep 12 2024 | 5 answers 981

Could you please clarify whether Celo is categorized as a Layer 1 or Layer 2 blockchain solution? I understand that Layer 1 blockchains are the foundational blockchains that host smart contract platforms and decentralized applications, while Layer 2 solutions are designed to improve the scalability, speed, and efficiency of Layer 1 blockchains. Given Celo's unique mobile-first approach and its focus on financial inclusion, I'm curious to know where it fits in this context.

DigitalDukedom Thu Sep 12 2024 | 7 answers 1472

Could you please clarify whether MATIC, also known as Polygon, is considered a layer 1 or layer 2 blockchain technology? I'm curious to understand the specific categorization of this platform and how it differs from other blockchains in terms of its architecture and functionality. It would be great if you could elaborate on the benefits and drawbacks of each layer and how MATIC fits into the broader blockchain ecosystem.

CryptoProphet Fri Aug 30 2024 | 0 answers 0

Excuse me, could you please explain what exactly is meant by the term "layer 1 cryptocurrency"? I've heard it mentioned in the context of blockchain technology and digital assets, but I'm not entirely clear on its specific definition and significance. As someone with an interest in the cryptocurrency space, I'd appreciate if you could elaborate on its fundamental characteristics and how it differs from other types of cryptocurrencies. Thank you in advance for your clarification.