Layer 1, Layer 2—what exactly does “layer” mean?
A Layer 1 network is a blockchain that handles its own consensus and settlement, such as Bitcoin, Ethereum, and Solana.
When you see a public blockchain advertised as offering “confirmation in seconds, for almost nothing,” ask what trade-offs it has made.
$ETH is the native coin of Ethereum, a Layer 1 public blockchain, and is used to pay gas fees and stake.
If anything wasn’t clear, mention me in the comments.
#ETH
A Layer 1 network is a blockchain that handles its own consensus and settlement, such as Bitcoin, Ethereum, and Solana.
When you see a public blockchain advertised as offering “confirmation in seconds, for almost nothing,” ask what trade-offs it has made.
$ETH is the native coin of Ethereum, a Layer 1 public blockchain, and is used to pay gas fees and stake.
If anything wasn’t clear, mention me in the comments.
#ETH