I have been looking into the Osmosis crypto exchange and its OSMO coin over the past week. I couldn’t believe how simple it was to understand. I’ll tell you what it is and the main things you need to know here. That way you don’t have to waste time listening to hours of podcasts and […]
What are layer 1s in crypto and what are the key L1 projects?
Layer 1 in crypto refers to blockchains that compete against each other to offer smart contract functionality. The first Layer 1 blockchain was Ethereum. Inspired by Bitcoin, Vitalik Buterin wrote a whitepaper that envisioned a platform using the same mechanics as Bitcoin. The difference was that instead of only offering one currency developers could engineer all sorts of financial innovation and more. With Ethereum setting the example many other alternative Layer 1 blockchains have emerged. They claim to be faster and more efficient than Ethereum. So far Ethereum has won the race with most developers building on it. But some of the other layer 1s described below are rapidly growing. Most agree that the future of multi chain an no single blockchain will prevail. If that is true then it would be good for you to get to grips with each of them if you want to get a footing in understanding the crypto space.
Some of the most well known Layer 1s after Ethereum are Solana, Polkadot, Fantom, Avalanche and Cardano.
In contrast layer 2 refers to code and protocols that are built on top of layer 1s to improve them. So for example Polygon is a layer 1 system that is built on top of Ethereum which is a layer 1. The two systems talk to each other so that the Layer 1 can scale faster.
Check up some of the key Layer 1 crypto blockchains you should know about below
As of July 2022 Kava crypto ranks #17 by total value locked. By the end of 2022 it aims to rank in the top 5. That is a lofty ambition. What is Kava crypto and why do its founders believe they can climb that rank so fast? When I first started doing research on Kava […]
My first impressions of THORchain and the RUNE crypto token, were that those names sounded kind of gimmicky. Without knowing anything about RUNE crypto, I assumed that it was just another meme coin that was going to do an impressive take-off only to crash back down into oblivion very soon after. Granted, first impressions are […]
Why did Luna crash? What led to terra UST’s demise and how does this relate to Luna? In this article I will walk you through the most significant collision in crypto history to date and what lessons we can learn from it. Let’s look at what happened The beginning of Luna’s demise On the 8th […]
Cosmos calls itself the internet of blockchains. So what is Cosmos crypto exactly? The team behind Cosmos view the future as being multi-chain rather than one-chain-to-rule-them-all. In the early days of crypto, most proponents took a maximalist stance supporting one blockchain only. You were either pro-bitcoin, pro-Ethereum etc. With the growth of various alt coins […]
First, let’s start with a caveat muchachos. So as to increase my chances of appearing on the term what is fantom crypto, I am going to do something weird. I will be using Fantom crypto instead of plain old Fantom. Pardon me if I sounds silly but this is what le Google wants. So here […]
Important update: As of May 2022 the Terra Luna ecosystem has collapsed and is seeking ways to re-generate itself. The death spiral that Terra’s founders didn’t think was possible actually happened. In order to understand Terra and its Luna currency I still highly recommend you read the article below that will walk you through the […]
What is Solana crypto? Solana is a crypto currency that is very similar to the Ethereum Network i.e. it is a platform that allows developers to build decentralized applications using smart contracts. Founded by some pretty legit players (more on them later), Solana was built to address the deficiencies of the Ethereum network: slow transactions […]
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In this article I will walk you through all you need to know about Ethereum. What is Ethereum? How does it work? Why is it so important? I will also introduce you to key concepts such as mining, ICOs, smart contracts and the main characters involved in Ethereum. After reading this article you will understand […]