What is Layer 1 Blockchain || 16-11-2023

sangram5 (65)in Tron Fan Club • 9 months ago

Assalamu Alaikum,
I hope you are all well. Today I am going to write about Layer 1 Blockchain. The blockchain and cryptocurrency worlds have their own set of rules.Layer 1 block chain is commonly known as layer base protocol. Layer 1 is an essential part of the blockchain system.

Layer 1 acts as the basic blockchain. Scalability challenges in the blockchain space are often addressed at the Layer 1 level. Different types of blockchain base apps, dapps, Dao, game are created based on layer 1 blockchain.Eg: Gala Games. It is a very popular game of Layer 1 Blockchain.

Popular cryptocurrencies like Bitcoin and Ethereum are built on Layer 1 block chains. Layer 1 Blockchain aims to provide all functions. of any blockchainbuilt on Layer 1 Blockchain aims to provide all functions. The main goal of any blockchain is to provide security for the cryptocurrency built on it. Which is done centrally by Layer 1 blockchain consciousness. Some popular cryptocurrencies are built on Layer 1 blockchains.

Source

Bitcoin.
Ethereum.
XRP
solona

One of the biggest problems with Layer 1 blockchains is time. Layer 1 blockchain transactions take a long time.The main reason for this is that the coins built on the Layer 1 blockchain use a consensus mechanism, which requires a large amount of computational resources.Due to this, Bitcoin and other major coins are facing problems for transaction time.

I hope you guys like my post a lot, and if there are any mistakes in the text you will be forgiven.

Best wishes: -
@sangram5

My identity

My name is Md. Abu Hanif Sangram. And my user ID name is @sangram5 I am a regular student, currently I am a second year student of B.S.S department of Parbatipur Government College. My home is Parbatipur Thana in Dinajpur District, Dhaka, Bangladesh.