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Crypto Terms:  Letter L

What is Layer-1 Blockchain?

Meaning:
Layer-1 Blockchain - a collection of solutions that enhance the protocol's core functionality.
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1 minute

Let's find out Layer-1 Blockchain meaning, definition in crypto, what is Layer-1 Blockchain, and all other detailed facts.

A Layer-1 blockchain stores a variety of solutions used for the enhancement of the protocol's core functionality with the goal of making the system more scalable. One of the main benefits of Layer-1 solutions is that nothing needs to be added to the existing infrastructure. Sharding and consensus protocol changes are two central Layer-1 blockchain solutions.

Talking about sharding, instead of forcing a network to operate sequentially on each transaction, it divides them into small data sets called shards, which can then be handled in parallel by the network.

In terms of a consensus protocol, it guarantees that various blockchain operations are agreed upon nodes rather than a single entity. Talking about changes in consensus protocols, large blockchains like Ethereum are moving from protocols like Proof-of-Work (PoW), which are a bit outdated and chunky, to protocols like Proof-of-Stake (PoS), which are faster and waste less energy.