Top Layer-1 Crypto Projects to Watch in 2023
Watch out for these 8 crypto networks in 2022 as they bet on scaling up the current Web 3.0...
Watch out for these 8 crypto networks in 2022 as they bet on scaling up the current Web 3.0...
Crypto has seen a steady increase in its adoption rate over the last few years as more people took to crypto trading and its several other use cases. The number of crypto owners hit a staggering 425 million in 2022, which is only expected to continue rising in 2023!
With web3 occupying a premier space amid emerging technologies of this era, several projects in the space have been working on exploring its potential. In this piece, we bring a list of Layer 1 crypto projects that could create a buzz in 2023.
In our crypto projects list, we have talked about each project’s key differentiators, roadmap, technical capabilities, and ecosystem!
1. Kadena |
2. Solar Network |
3. Shardeum |
4. Hedera Hashgraph |
5. Secret Network |
6. Algorand |
7. Cronos |
8. Moonbeam |
9. Avalanche C-Chain (Avalanche) |
10. Aurora (NEAR Protocol) |
11. Evmos (Cosmos) |
12. Lucky Block (LBLOCK) |
13. Bitcoin (BTC) |
14. Ethereum (ETH) |
15. Solana (SOL) |
16. Cardano (ADA) |
17. Fantom (FTM) |
18. Harmony (ONE) |
19. Elrond eGold (EGLD) |
20. Monero (XMR) |
21. Ripple (XRP) |
22. Aptos (APT) |
23. Meter |
24. Velas |
25. Hive |
26. Polkadot |
27. NEAR |
28. Flow |
29. Crypto.org Chain |
30. Theta |
31. Ravencoin |
32. Nano |
33. Everscale |
34. Filecoin |
35. Celo |
36. BNB Chain |
37. Hyperledger Fabric |
38. Kusama |
39. Stellar |
40. EOS |
41. Casper |
42. Corda |
Kadena was founded in June 2016 by Stuart Popejoy and Will Martino, both former JP Morgan executives. It enables businesses and organizations to efficiently transact and share data in a decentralized manner. It also seeks to address the issues that current-generation blockchains face – such as speed, scalability, and security.
Kadena ecosystem comprises Layer 1 public chain protocol called ‘Chainweb’ and a layer 2 permissioned protocol called ‘Kuro.’ Kadena is the only sharded and scalable Layer 1 Proof of Work (PoW) network in use today. Kadena is indeed one of the best Layer 1 crypto projects in 2023.
Next on our list of crypto Layer 1 projects is Solar Network. Solar Network is a fully decentralized energy-efficient blockchain that utilizes a Byzantine Fault Tolerance (BFT) consensus mechanism. The consensus is achieved through the Delegated Proof of Stake (DPoS) algorithm powered by its native token called SXP. It is secured by 53 voted-in delegates that produce blocks and validate transactions.
Shardeum is an EVM-compatible smart contract Layer 1 blockchain on which decentralized applications (DApps) can be deployed seamlessly. It is a dynamically sharded network with infinite scalability, true decentralization, and solid security. It will be the first network built to scale and accommodate billions of daily users by solving the scalability trilemma – this is considering almost all Web 3.0 networks today have issues either with decentralization or scalability.
Shardeum’s core principle is to build and operate the network in an open, collaborative, and community-driven way. The founders believe decentralization is the future for our common good and hope their efforts will eventually inspire other networks to bring decentralization across industries and communities. The platform is being developed using a unique distributed ledger project launched in early 2018, Shardus. It will be the protocol layer of Shardeum, and it has previously demonstrated proof of concept to solve the scalability trilemma. Shardeum is indeed one of the best crypto Layer 1 projects.
Hedera is at the forefront of 3rd generation public distributed ledgers. It is a smart contracts platform that currently functions with the help of its governing council comprising 39 institutions from various industries. The network presently operates on a permissioned model, with nodes managed by the governing council. It plans to transition to a permissionless network later in 2023. The network has throttled TPS of 10k with barely any fees and energy usage.
While other networks discussed here operate on blockchain, Hedera runs on a DAG-like blockless architecture called Hashgraph, which also extends itself as the consensus mechanism employed on the network. It is one of the very few networks that meet the Asynchronous Byzantine Fault Tolerance (aBFT) security standard. An aBFT is the most secure among consensus algorithms. Each transaction on the network is assigned a timestamp that is the median of the timestamps acquired by the nodes. Transactions are then committed according to the timestamps and not by the fees. Many features on the network will remind us of Shardeum, although the latter will be decentralized right from its launch.
Secret Network is a Layer 1 blockchain with its own consensus and on-chain governance, built atop the Cosmos/Tendermint framework. It allows for privacy-focused smart contracts. Secret Network provides programmable smart contracts that protect user data by enabling encrypted inputs, outputs, and smart contract states.
Algorand is another blockchain that attempts to solve the scalability trilemma and has become a notable name in our best Layer 1 crypto projects list. It runs on a Pure Proof of Stake (PPos) consensus and is BFT compliant. The transaction throughput is said to be on par with large payment and financial networks.
Smart contracts are written in a language called Transaction Execution Approval Language (TEAL) and Python using the PyTeal library. TEAL is similar to an assembly language and is Turing complete by supporting looping and subroutines. It also limits the amount of time a contract has to execute using a “dynamic opcode cost evaluation algorithm.” Algorand Virtual Machine(AVM) runs on every node on the blockchain and interprets the TEAL programs to run smart contracts. AVM aims to make blockchain development more accessible.
The consensus protocol has 2 key features which can tolerate an arbitrary number of malicious users.
Algorand also has a consensus mechanism for protocol upgrades. Proposed changes are posted on the blockchain, and the community votes to accept or reject the change using a consensus protocol. The community agrees on a block where the change happens and switches to the new protocol simultaneously.
Scalability: Selecting the user for validation takes microseconds. Once selected, the users need to send 1000 short, immediately compiled messages. The network has throttled thousands of transactions per second in 2021, however revalidating and re-propagating valid messages makes it theoretically slower than gossip protocols like Shardeum and Hashgraph. The network pledges to be a carbon-negative network.
Security: As long as the blockchain has a majority of fair nodes, it cannot be corrupted or forked. Random selection of nodes increases security. The validation committee for each block is selected by a lottery. These features make it BFT compliant, if not theoretically.
Decentralization: Proposers and committees are randomly chosen from the pool of all token holders however the likelihood of being chosen is proportional to the account’s stake in the network. Every node still has an equal chance of participating in the network theoretically.
Cronos is an EVM-compatible sidechain running parallel to the Crypto.org Chain. It has established itself as a high-profile participant in the cryptocurrency industry. It gained exposure through celebrity sponsorships and the purchase of the naming rights to the former Staples Center in Los Angeles. Cronos works as a store of value and a payment token, similar to Bitcoin or Ether. It works essentially as a way to secure and expand the network and is truly one of the best Layer 1 crypto projects 2023.
Moonbeam is a parachain on layer 0 network, Polkadot. It allows cross-chain integration between other protocols through bridges and parachain connectivity. Moonbeam also has a smart contract platform that is Ethereum-compatible.
Moonbeam is built in Rust programming language with a substrate framework. Rust is similar to C++ in syntax and additionally has built-in memory features during compilation which prevents bugs and security issues. Substrate framework is a blockchain development framework with multiple modules on Rust. Smart contracts can be implemented using Solidity, Vyper, or any other language compatible with EVM.
Moonbeam’s blockchain works on Polkadot’s Proof of stake model. Collators collect transactions on the Moonbeam parachain and produce state transition proofs for validators on the relay chain at the protocol level. The top stakers are selected as collators, and a part of the block reward goes to them.
Moonbeam also has an additional layer for consensus called Nimbus. The parachain stakers form the active collator pool. Nimbus applies a filter and chooses candidates who are subsets of the parachain staking pool as collators. These collators are changed every 600 blocks. A second filter is applied to a random subset of these selected candidates for each block.
Avalanche is a Layer 1 smart contract-based blockchain and one of the best Layer 1 crypto projects 2023. It aims to address some of the industry’s most difficult issues. These issues include high transaction fees and scalability. Dr. Emin Gun Sirer founded Avalanche in 2019. He aimed to achieve the shortest ‘time to finality’ for blockchain transactions from the start. The time it takes for a crypto transaction to be considered permanent and irreversible is referred to as the time to finality.
It offers low latency block times of around 1 second. Contract Chain (C-Chain) is 1 of the 3 blocks used by Avalanche. It enables the creation of smart contracts via the C-API. The C-Chain is a type of Ethereum Virtual Machine powered by Avalanche. Avalanche C Chain allows Avalanche to provide one of the best user experiences of any Layer 1 blockchain.
Aurora is a virtual machine built on Ethereum (EVM) and one of the best Layer 1 crypto projects 2023. Aurora is based on the NEAR Protocol, one of the highest-performance third-generation Layer 1 protocols from one of the industry’s most highly regarded teams. It aspires to be a scaling solution compatible with Ethereum. This allows developers to run their apps on an Ethereum-compatible, high-throughput, scalable, and future-proof platform while charging their users lower transaction fees.
Aurora’s governance will take the form of a hybrid Decentralized Autonomous Organization—the AuroraDAO. It will be supplemented by a traditional entity that will hold one of the AuroraDAO’s seats. Aurora was founded by the founders of the NEAR protocol with the goal of creating an interoperable future in which the gaps between blockchains, developers, and users are bridged. Aurora achieved its goal by allowing assets to flow seamlessly between the Ethereum and NEAR blockchains. As a result, it successfully merges economies and promotes the growth of creator communities, making it one of the best Layer 1 crypto projects 2023.
Evmos is next on our list of Layer 1 crypto projects. It is a scalable, high throughput proof of stake blockchain that is fully compatible with Ethereum. It is based on the Cosmos SDK and runs on top of the Tendermint Core consensus engine. It aims to improve Ethereum and Cosmos interoperability. Evmos’ modular EVM authoring makes it simple to develop and deploy apps across the Ethereum and Cosmos ecosystems.
Evmos is an evolution of Ethermint. Ethermint was a proof of concept introduced in 2016 as a way to deploy EVM-based smart contracts on Tendermint and use the proof of stake consensus model.
Lucky Block comes at number 12 on our Layer 1 crypto projects list. Lucky Block aims to revolutionize the global lottery sector by utilizing two emerging technologies: blockchain and smart contracts. The Lucky Block project was founded in 2015 and is built on the popular Binance Smart Chain network. It aims to provide end-to-end transparency, absolute protection against manipulation, and guaranteed profit distribution to its users.
Each one-of-a-kind Lucky Block NFT collection is accompanied by a Lucky Block NFT competition. When an NFT collection sells out, Luckyblock conducts a random draw and announces an eligible winner of the NFT collection-related competition. The prize package includes everything from a PS5 to a private island.
Bitcoin is undoubtedly one of the best Layer 1 crypto projects 2023. Bitcoin is the first digital currency. It operates independently, without any central control by banks, governments, or any other organizations. The Bitcoin blockchain is a database of transactions that are encrypted and validated by peers. Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers going by the name Satoshi Nakamoto.
All Bitcoin transactions are recorded in a public ledger, and copies are kept on servers around the world. Anyone with a spare computer can set up a node or server. Although Bitcoin is entirely digital, it meets every traditional definition of what constitutes money. Rather than relying on physical properties (such as gold and silver), Bitcoin relies on the world’s most powerful computer network to mathematically enforce the rules that distinguish it as the first truly digital form of currency.
Next on our list of layer 1 crypto projects is Ethereum. Ethereum (ETH) is so far the second most popular cryptocurrency, right after Bitcoin. Back in 2015, Vitalik Buterin and Gavin Wood founded it. Ethereum is powered by the Ether (ETH) token. It enables users to make transactions, earn interest on their holdings through staking, use and store non-fungible tokens (NFTs), trade cryptocurrencies, play games, use social media, and so much more.
Ethereum 2.0 was introduced very recently on September 15 with the Merge. The Merge is a technical enhancement that converted Ethereum’s previous proof-of-work consensus mechanism to a proof-of-stake model. With this move, Ethereum hopes to significantly reduce its carbon footprint while also laying the groundwork for future scalability improvements.
The Ethereum Merge was the integration of Ethereum’s original execution layer or the Ethereum Mainnet with its new proof-of-stake consensus layer, the Beacon Chain. It removed the need for energy-intensive mining and allowed the network to be secured with staked ETH.
Our layer 1 crypto projects list would be incomplete without Solana. Solana is a public, open-source blockchain. It supports smart contracts, non-fungible tokens (NFTs), and a variety of decentralized applications (DApps). Yakovenko proposed the innovative blockchain in 2017, and Solana went live in March 2020. Yakovenko, now the CEO of Solana Lab, has a background in system design and wanted to apply his knowledge to a new blockchain paradigm that allowed for faster processing speeds.
The Solana team is currently supported by top organizations around the world. These include Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox, and others. Many investors have also taken notice of Solana’s impact. Multicoin Capital, Foundation Capital, SLOW Capital, CMCC Global, and Abstract Ventures are only a few of them.
Cardano (ADA) is next on our list of layer 1 crypto projects in 2023. The blockchain platform was founded by Charles Hoskinson in 2015, but it was truly introduced to the public only in 2017.
Cardano is a decentralized proof-of-stake (PoS) blockchain. It was created to be a more efficient alternative to proof-of-work (PoW) networks. As the team puts it, “Cardano is a blockchain platform for changemakers, innovators, and visionaries”.
Cardano intends to build a platform for developing decentralized applications (DApps). Developers can create smart contracts using Cardano’s blockchain, which can then be used to create decentralized applications (DApps) and protocols.
Fantom is one of the most innovative crypto layer 1 projects. Fantom is a DAG or directed acyclic graph smart contract platform that brings decentralized finance products and services to DApp developers. The network intends to be open-source, allowing anyone to use it and customize it to their specific needs. Fantom is a DApp development platform that is highly scalable, decentralized, permissionless, and open source.
Fantom also deploys DAG- which is a data modeling and structuring technology whose networks, unlike blockchains, are made up of vertices and edges. As a result, cryptocurrency transactions on Fantom are represented as vertices that are stacked on top of one another.
Fantom’s native token is FTM. FTM’s design has been optimized to address the challenges of decentralizing many services at scale. It is used for payments, governance, staking, and platform fees, as well as network security.
Next on our list of layer 1 crypto projects in 2023 is Harmony. Harmony is a layer 1 blockchain that achieves scalability, security, and decentralization through sharding and Effective Proof-of-Stake. Harmony (ONE) debuted in May 2019 as part of the Binance Launchpad’s initial exchange offering (IEO). Stephen Tse founded it in 2018, with a mainnet launch in 2019.
Harmony (ONE) aims to provide decentralized app (DApp) creators and users with decentralization and scaling. Harmony increases overall efficiency, scalability, and interoperability by introducing innovation and a combination of technologies to its platform. This allows the platform to achieve maximum functionality.
ONE is the name of the native token on the Harmony platform. All platform activities and amenities, including voting, transaction fees, gas fees, staking, and earning rewards, are paid for with this very ONE token.
Elrond is rightfully the next one on our list of layer 1 crypto projects. Elrond aims to incentivize a distributed network of computers to run a smart contract platform with a focus on scalability and low transaction fees. Elrond capitalizes on the potential of successful scaling of blockchain environments. This is to enable the development of decentralized applications for a variety of use cases, as well as the creation of a novel internet economy with new digital assets.
Elrond uses smart contracts to support the issuance of digital assets, as well as fast transactions. Elrond has positioned itself as an ideal blockchain for decentralized finance (DeFi) developers to use for their apps, along with other types of decentralized apps, owing to its speed and scalability (DApps). Elrond eGold (EGLD) is the Elrond network’s native coin. The token is used for all platform functions, such as governance, transactions, staking, validator rewards, and smart contracts.
This layer 1 crypto projects list would be incomplete without Monero. Launched in 2014, Monero is an open-source and privacy-focused cryptocurrency platform. Monero first appeared under the name ‘BitMonero.’ This was a combination of the words ‘bit,’ short for Bitcoin, and Monero, the Esperanto word for coin. The ‘bit’ was dropped five days later in favor of the current name.
XMR is the native token of Monero. It may be appealing to any user who wants to push the boundaries of cryptography in cryptocurrencies, paving the way for monetary systems that allow people all over the world to save up and make payments on their own terms without fearing oppression.
Ripple is the next on our crypto layer 1 projects list. Ripple is a blockchain platform acting as a payment protocol processing international money transfers. It has partnered with hundreds of financial institutions that use its technology; features of the platform include low transaction fees and extremely fast processing times. Unlike Bitcoin and Ethereum, which are open to the public and seek to disrupt legacy finance, Ripple focuses on improving the existing and fragmented traditional banking system.
Jed McCaleb and Chris Larsen founded Ripple in 2012. XRP is the native crypto token for Ripple Labs. The goal of XRP has always been to act as a middleman in the exchange of two currencies or networks.
Aptos is one of the news in our layer 1 crypto projects list. It employs the Move programming language. Users can expect increased scalability, reliability, security, and usability from its native cryptocurrency, APT. Avery Ching and Mo Shaik founded Aptos. They previously worked on Diem’s Novi wallet. Aptos uses a technique called ‘parallel execution’ that claims to speed up transactions while keeping them cheap.
Next up in our list of layer 1 crypto projects 2023 is Meter, which is a high-performance infrastructure that enables smart contracts to scale and traverse heterogeneous blockchain networks. Meter is one of the best Layer 1 crypto projects. The California-based company, which aims to help decentralized businesses scale, plans to unify blockchains, allowing DeFi to take center stage and reach its full potential. There are two tokens in the Meter system: MTRG and MTR.
Coming up next on our layer 1 crypto projects list is Velas, a full EVM/eBPF hybrid chain with high security, scalability, and performance while limiting transaction finality to 1.2 seconds and carbon emissions to a bare minimum. Velas’ native application model seeks high performance by distributing its modifiable state across multiple accounts. While this allows Velas to process transactions in parallel on a single shard, it also complicates things for regular DApps developers.
Hive is a blockchain-based social network of apps and services that allows you to connect, share, and discover. This entry in our layer 1 crypto projects 2023 list also includes a blockchain-based financial ledger based on the Delegated Proof-of-Stake algorithm (DPoS). While the Hive blockchain is a fork of the Steem blockchain, the community (also known as layer-zero) chose Hive, making it the premier social blockchain.
Next up in our list of layer 1 crypto projects 2023 is Polkadot, a Layer 1 protocol and next-generation blockchain that combines multiple specialized blockchains into a unified, scalable network. Polkadot operates at a higher level than a blockchain like Ethereum—think of it as laying the groundwork for other crypto projects to build on.
Near Protocol is another significant addition in our list of Layer 1 crypto projects. It provides developers with a platform to create decentralized applications (DApps). Ethereum has shown what is possible, but with NEAR, you can start building Web3 apps that can scale for mass adoption right now.
Next in our list of layer 1 crypto projects 2023 is Flow, a layer-1 blockchain with the goals of being fast, decentralized, and developer-friendly. It is intended to serve as the foundation for games, apps, and the associated digital assets. Dapper Labs, an NFT company, created the network.
Crypto.org Chain is a permissionless, public, open-source Layer 1 blockchain. It is a fully decentralized network with high speed and low fees. This one of the crypto layer 1 projects mentioned here is designed to be a public good that drives mass adoption of blockchain technology through use cases such as Payments, DeFi, and NFTs.
Theta is a native Layer 1 blockchain with an open-source protocol, which means that it, like Ethereum, allows developers and partners to build decentralized applications on the network. This innovative platform offers both technical and economical solutions to the streaming industry’s problems. It was created to incentivize network bandwidth sharing.
Ravencoin is yet another of the significant crypto layer 1 projects. It is open-source software. It allows anyone to create tokens and transfer digital assets from one party to another. It was built on a fork of Bitcoin’s codebase. This means that the developers copied and adapted the Bitcoin code to add new features in pursuit of a slightly different goal.
The next on our Layer 1 crypto projects list is Nano. It is intended to make cryptocurrency transactions free of charge. Nano, which was created to provide simple peer-to-peer value transfer, provides individuals with the most efficient and accessible digital money available, connecting them to the global economy with minimal impact.
Everscale is one of the best Layer-1 cryptos created by community members and developers based on Telegram’s Telegram Open Network’s whitepaper and open-source code (TON). Everscale aims to address flaws in Ethereum’s current architecture. It scales its network by combining data sharding (via “work chains”) and execution sharding (via “threads”).
Filecoin is a blockchain-based decentralized peer-to-peer digital storage marketplace, and one of the top layer 1 crypto projects 2023 to watch out for. It is based on the InterPlanetary File System (IPFS) and allows users to rent out unused hard disc space in exchange for FIL tokens. Each file in this peer-to-peer protocol is indexed with a cryptographic hash, allowing for the efficient distribution of large volumes of data while also creating a more decentralized and resilient web.
Celo is a fully EVM-compatible proof-of-stake layer-1 protocol with a fast, ultralight mobile client and the ability to pay transaction fees with tokens or stablecoins. Celo’s goal is to enable anyone with a smartphone anywhere in the world to access financial services, send money to phone numbers, and pay merchant users through a decentralized platform run by a user community.
Out of the layer 1 crypto projects 2023, this is definitely one of the brightest. Binance merged the Binance Smart Chain and the Binance Chain in February 2022 to form the new BNB Chain. Binance’s layer-1 or base blockchain is being relaunched as part of a plan to link it to the protocol’s governance token—BNB—in order to expand and build on decentralization. BNB Chain aims to assist and support projects that want to expand beyond their current blockchain and build on BNB Chain.
The Hyperledger Fabric platform is an open-source platform for developing distributed ledger solutions with a modular architecture that provides high levels of confidentiality, flexibility, resiliency, and scalability. This enables fabric-based solutions to be tailored to any industry. The Linux Foundation manages this private and confidential blockchain framework.
Next up in our list of layer 1 crypto projects 2023 is Kusama (KSM), an unfinished, experimental proof-of-stake network built on the Polkadot codebase. Polkadot’s canary network is Kusama. It is a testing network for developers who want to test their blockchains or decentralized applications (DApps) before deploying them on the Polkadot ecosystem.
Stellar is among the crypto layer 1 projects that is open source. It is designed to be used for payments and asset issuance. Transactions on the Stellar network, like those on other blockchain-based networks, are added to a publicly distributed ledger.
EOS is a high-performance Layer 1 blockchain with no transaction fees. EOS blockchain, a competitor to Ethereum, is designed for both public and private use cases. EOS, also known as an “Ethereum Killer,” is a smart contract platform that supports commercial-scale DApps (decentralized applications). The EOS network is powered by the cryptocurrency EOS.
EOS’s architecture enables fast and cheap transactions, as well as the hosting and execution of smart contracts in a secure environment.
Unlike some other blockchain platforms, developers can easily upgrade and extend their EOS-deployed smart contracts. The network behavior on the EOS platform is defined by system contracts that are highly configurable and make system upgrades simple without affecting the core consensus.
EOS has a half-second block time, which is extremely fast when compared to other blockchain platforms, where average block times range from 2 to 10 minutes.
The Casper Network is a Proof-of-Stake decentralized blockchain based on the Casper CBC specification. The Casper Network offers smart contracts that can be upgraded, developer-friendly features, and lower transaction costs than most Layer-1 blockchain offerings.
Next on our list of top Layer 1 crypto projects 2023 is Corda. Corda is a permissioned peer-to-peer (P2P) distributed ledger technology (DLT) platform developed by R3. It makes it possible to create applications that foster and deliver digital trust between parties in regulated markets.
And that was our list of Layer 1 crypto projects that you should watch out for in 2023! Each of the 42 top Layer 1 crypto projects of 2023 are already popular among crypto investors, and each stands out for unique reasons. Do keep in mind though that no matter which one from this Layer 1 crypto projects list you choose, it is important to take security measures to survive the volatility of the crypto market. Further, conduct your own research to understand which crypto Layer 1 projects suit your investment needs the best.
Polygon (MATIC) could be the next big crypto to explode in 2023, and there are several reasons for this. Firstly, Polygon is out to solve the problem of multi-chain interoperability, scalability, and high gas fees. Decentralized Applications (dapps) on Ethereum can use Polygon’s side chains to improve its scalability. Moreover, various dapps are also built on the Polygon network for better integration and transactions.
Shardeum is the best smart contract Layer 1 blockchain. It allows for the seamless deployment of decentralized applications (DApps). It is a dynamically sharded network with limitless scalability, true decentralization, and strong security. The core principle of Shardeum is to “build and operate the network in an open, collaborative, and community-driven manner.”
There are also some features of Shardeum that make it unique from the rest in our list of layer 1 crypto projects. In place of applying consensus at the block level, Shardeum does consensus separately on each transaction. Secondly, Shardeum also uses dynamic state sharding, allowing for linear scaling.
2023 might see a lot of coin launches that could create a buzz in the web3 space. Some of the upcoming crypto coin launches of 2023 include:
Layer 1 blockchains serve as the foundational protocol layer of a blockchain network where all the important functions like consensus mechanism, network security, and transaction execution occur. A Layer 1 crypto runs on its own network without requiring a secondary network. Examples of such Layer 1 crypto tokens include Bitcoin, ETH, DOT, etc.
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Disclaimers : This opinion piece was originally published by the author on medium.com which is edited and re-published here. Opinions expressed in this publication are those of the author(s). They do not necessarily purport to reflect the opinions or views of Shardeum foundation.
About the Author(s) :
Shuwam Rana is a Technical Analyst, Digital marketer and SEO expert with a passion to help businesses grow. He also has an engineering background. You can follow him on Twitter
Harsha Karanth has been in the energy and e-commerce industries before he came across web 3.0. He is enthusiastic about building impact projects on web 3, particularly in the sectors of environment, animal care and education. You can follow him on Twitter