Layer 1 Blockchain

🔸 Sector capitalization: $609.21 billion

🔸 Market dominance: 29.39%

👾 Layer 1 blockchain is responsible for key functions, such as transaction processing, consensus, and security.

-L1 uses consensus mechanisms such as Proof-of-Work and Proof-of-Stake.

-L1 has its own tokens used to pay fees and incentivize participants.

-L1 serves as the basis for the creation of decentralized applications and DeFi protocols.

👾 Layer 1 is the most fundamental form of blockchain and the basis for all other layers within ecosystems.