Layer 1 blockchain networks serve as the foundation of the blockchain ecosystem and are considered the most secure and decentralized form of blockchain technology. Layer 2 blockchain networks, on the other hand, are built on top of layer 1 blockchain networks and offer additional features and functionality, but at the expense of security.
- Ethereum: Ethereum is a decentralized, open-source blockchain network that allows developers to build decentralized applications (DApps) and smart contracts. It is known for its support of various tokens, including Ether (ETH), which is used to pay transaction fees and incentivize network participants.
- BSC: Binance Smart Chain (BSC) is a blockchain network developed by Binance that is compatible with the Ethereum Virtual Machine (EVM) and supports smart contracts. It is designed to offer fast transaction speeds and low fees, making it an attractive option for decentralized finance (DeFi) applications.
- Avalanche: Avalanche is a Layer 1 blockchain network that offers high transaction throughput, low fees, and fast finality. It is designed to support interoperability between different blockchains and enable the creation of decentralized applications.
- Fantom: Fantom is a Layer 1 blockchain network that uses a consensus mechanism called Lachesis to achieve high transaction throughput and low fees. It is designed to be scalable, interoperable, and secure, making it suitable for a wide range of use cases.
- Aptos: Aptos is a Layer 1 blockchain network that uses a unique consensus mechanism called Proof-of-Verification (PoV) to achieve high transaction throughput and low fees. It is designed to support a range of use cases, including decentralized finance, supply chain management, and gaming.
- Polygon: Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum that aims to improve scalability, reduce fees, and provide a better user experience for DApps. It offers faster and cheaper transactions by using sidechains and other scaling solutions.
- Arbitrum: Arbitrum is a Layer 2 scaling solution for Ethereum that uses an optimistic rollup approach to enable faster and cheaper transactions. It allows developers to port existing Ethereum smart contracts to the Arbitrum network with minimal changes.
- Optimism: Optimism is another Layer 2 scaling solution for Ethereum that also uses an optimistic rollup approach. It is designed to provide faster and cheaper transactions, while also supporting high levels of security and decentralization.
Updated 7 months ago