What is Layer 1?
The short answer
A blockchain's base network — Bitcoin, Ethereum, and Solana are all layer 1 networks.
Layer 1 refers to the foundational blockchain itself, as opposed to layer 2 networks built on top of it to add speed or reduce cost.
Related terms
Full glossaryProof of Work
A consensus method (used by Bitcoin) where network security comes from competing computing power.
Peg
The target value a stablecoin is designed to maintain, typically $1 for dollar-pegged coins.
51% Attack
A theoretical attack where one entity gains control of the majority of a network's computing or staking power,…
Volatility
How much and how quickly a price moves, in either direction.
Hash Rate
A measure of the total computing power securing a proof-of-work network like Bitcoin.
Smart Contract
Self-executing code on a blockchain that automatically carries out an agreement without a company in the middle.
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