Layer 1 blockchains are crucial to the cryptocurrency industry.
L1s validate and execute transactions without support from another network.
Injective (INJ), Kaspa (KAS), Celestia (TIA), Sui (SUI), and Sei (SEI) make up the top 5 L1s.
Several Layer-1 (L1) blockchain protocols have emerged as strong contenders in the decentralized ecosystem, offering unique solutions and supporting a wide range of blockchain applications. These L1s operate independently, validating and executing transactions without relying on other networks.
While Ethereum remains a dominant force, protocols like Injective (INJ), Kaspa (KAS), Celestia (TIA), Sui (SUI), and Sei (SEI) have gained significant traction. Let us highlight the basic functionalities of the identified protocols while providing details on how their native tokens have performed of late.
Injective (INJ)
Injective is a DeFi-focused, interoperable L1 blockchain protocol with decentralized spot and derivative exchanges. It also supports prediction markets and lending protocols. INJ, its native token, has a market cap of $2.37 billion.
INJ saw an impressive price increase of nearly 750% between Q4 2023 and Q1 2024, râŠ
The post Top 5 Layer-1 Blockchains: Beyond Ethereum in 2024 appeared first on Coin Edition.
