What is Layer 1 in Blockchain?

Herudarma66601 Nov, 2023Technology

Layer 1, often abbreviated as L1, refers to the primary, base-level chain in a blockchain network. It provides the most fundamental services, such as recording transactions on the public ledger and ensuring robust security. While various L1 chains tackle the challenges of constructing blockchain networks in diverse ways, they all have foundational elements that enable the myriad functions of cryptocurrency?from serving as a currency to powering decentralized applications and more.