As a seasoned analyst with years of experience in the blockchain industry, I must say that N1’s evolution from a Layer 2 solution to a full-fledged Layer 1 blockchain is an exciting development. The focus on scalability, performance, and multi-language support sets it apart from other blockchains, making it a promising platform for the future of decentralized applications (DApps).
Peter Thiel-backed startup Layer N evolves into N1.
The Layer 2 solution completes its evolution to Layer 1, replacing Ethereum.
N1, the Layer 1 blockchain supports up to 100,000 tps and multi-language development.
A high-speed Ethereum alternative, known as N1, is transitioning to its native Layer 1 platform, as confirmed in an announcement this Thursday. The shift from Layer 2 (L2) to Layer 1 (Layer 1) is intended to facilitate the creation of next-generation decentralized applications (DApps), addressing the scalability issues that Ethereum currently encounters.
The transition to N1, a cutting-edge, application-focused Layer-1 blockchain, will emphasize scalability and speed, making the realm of Web 3 more accessible for innovative app development. As envisioned by the team, the debut of N1 is designed to facilitate swift construction and deployment of Decentralized Applications (DApps), empowering developers to effortlessly transfer any code or application to run on-chain with just two clicks.
By adopting a user-friendly and app-focused strategy, the N1 blockchain will offer multi-language capabilities to developers, allowing them to create applications using their preferred programming language. This makes it the first blockchain platform to support TypeScript development (with additional languages like Solidity, Rust, and C soon to follow). This significant reduction in learning requirements for on-chain app deployment is expected to foster innovation and creativity within the Web 3 community.
Dima Romanov, CEO and co-founder of Layer N, announces the arrival of an innovative blockchain that unites extraordinary computational power with user-friendly developer tools to pave the way for a fresh generation of decentralized applications,” expresses pride.
Furthermore, blockchain offers built-in applications designed to enhance user interaction and boost productivity. These native applications include a multi-purpose ‘hub’ wallet for managing assets across various applications, a unified login widget for seamless experiences across different applications, and a developer-friendly deployment interface similar to Vercel, allowing easy launch and administration of applications with just two clicks.
After the debut of their blockchain, the team additionally revealed some investors and collaborators. Among these investors are Founders Fund (an investment firm backed by Peter Thiel), Multicoin, dao5, Kraken, Amber, GSR, and SALT. The attention towards N1 stemmed primarily from its team who constructed an on-chain order book that boasts high performance, having processed over half a billion in volume on the Solana platform.
Several blockchain communities and teams are collaborating closely with N1, as they’re eager to debut innovative or improved cryptocurrency applications on this blockchain. Notably, Sushi, a prominent player in DeFi, is creating Susa, their primary decentralized exchange with perpetual trading, alongside an advanced Automated Market Making (AMM) protocol named Kubo. This unique AMM protocol is designed to function only on N1 due to its intricate computational demands.
Other partners involved are Amber Group, a significant market maker supported by Paradigm, currently developing their proprietary decentralized exchange protocol featuring groundbreaking asset listings and substantial liquidity. Additionally, Mindshare, an innovative SocialFi application, is being developed that allows users to directly trade cryptocurrency narratives. Moreover, a virtual world simulation based on the concept of Westworld is in development on the blockchain, with the team choosing to remain anonymous for now regarding their identity.
Next-generation platform N1 is planning to leverage the benefits from its predecessor, Layer N, which marked the first to hit a testnet benchmark of 100,000 transactions per second (tps). By keeping the robust execution layer performance of Layer N while swapping out the Ethereum settlement layer for a comprehensive L1 infrastructure of its own, N1 aims to offer up to 10-100 times the scale and speed compared to current chains. This upgrade promises transaction speeds that surpass 100,000 tps.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- As Lindsay Lohan And Lacey Chabert Headline Christmas Movies, These Comments Have Me Convinced A Mean Girls Holiday Movie Reunion Needs To Be Next
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- Taylor Swift Calls Eras Tour “Most Challenging Thing I’ve Ever Done” at Final Show
- Niels Arestrup Dies at 75, Iconic Actor Was a Force of Cinema
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Ben Affleck And Matt Damon Are Back To Work Together, And An Insider Weighed In On Their Longtime Connection
- Paul Atkins to Replace Gary Gensler as Next SEC Chair?
- India signals no fixed timeline for crypto rules, calls for global alliance
- ‘I Pitched Stargate’s Take On Black Panther’: Christopher Judge Opens Up About His Teal’c Spinoff And Why It Hasn’t Happened
2024-12-05 18:12