10 Best Layer 1 Crypto Projects to Watch in 2024
Many cryptocurrency investors prefer layer 1 networks over secondary tokens, such as those following the ERC-20 or BEP-20 standards. After all, layer 1 blockchains determine their own consensus models, governance, and transaction processing.
This guide analyzes the 10 best layer 1 crypto projects for investors. We explore each layer 1 network in terms of performance, efficiency, scalability, use cases, and price action.
Listed below are the 10 best layer 1 crypto projects to consider right now:
Read on for our analysis of the top layer 1 blockchain projects listed above.
In our view, Ethereum is one of the best layer 1 crypto projects to invest in. At its core, Ethereum is a smart contact network, enabling developers to build decentralized applications. ERC-20 projects benefit from Ethereum’s security, decentralization, and fast transactions. In turn, projects pay transaction fees in Ethereum’s native cryptocurrency, ETH.
There are thousands of projects operating on Ethereum, with new ones being launched every day. This includes leading stablecoins like Tether, USD Coin, and Dai, Ethereum is also the go-to network for metaverse experiences and play-to-earn games. Some popular examples include Axie Infinity, Tamadoge, the Sandbox, and Decentraland.
In addition, Ethereum is popular with decentralized finance projects. This includes everything from SushiSwap and Maker, Lido Dao, Uniswap, Yearn.finance, and SushiSwap. Ethereum has become so popular that it constantly faces network congestion. This is why layer 2 solutions have been developed, such as Arbitrum and Polygon.
Nonetheless, Ethereum is working on improving network efficiency, scalability, and cost-effectiveness. Once this happens, layer 2 solutions might become
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