Okuzeka
Blockchain & Crypto vocabulary · Networks, Forks & Scaling

Layer 1

Meaning in blockchain & crypto, with examples

nounCommon term

In blockchain & crypto, layer 1 means: A base blockchain that processes and finalizes transactions on its own network, such as Bitcoin or Ethereum. Other systems can be built on top of it.

In Turkish: katman 1, birinci katman, ana zincir

How it is used

Written layer 1, Layer 1 or L1. People compare L1s on speed, fees and security, and talk about building on an L1 or settling to L1. The native coin of an L1 pays its fees, like ether on Ethereum.

Example sentences

  1. We chose a layer 1 with fast finality because our users make many small payments.

  2. Every few months a new layer 1 claims to be faster than Ethereum.

Common collocations

  • layer 1 blockchain
  • L1 network
  • build on a layer 1
  • settle to layer 1
  • layer 2A network built on top of a layer 1 blockchain that handles transactions faster and more cheaply, then sends the results back to the main chain for security. Rollups and the Lightning Network are examples.
  • scalabilityThe ability of a blockchain to handle more users and transactions without becoming slow or expensive. It is one of the biggest technical challenges in the field.
  • EthereumA blockchain launched in 2015 that can run smart contracts and applications, not just payments. Its own currency is called ether (ETH), and it has used proof of stake since 2022.
  • BitcoinThe first cryptocurrency, launched in 2009 by an unknown person or group using the name Satoshi Nakamoto. It runs on its own proof-of-work blockchain and has a maximum supply of 21 million coins.
  • mainnetThe live, public version of a blockchain network where transactions are real and tokens have real value, as opposed to a test network.

More terms: Networks, Forks & Scaling

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