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Layer 1

Definition:

Layer 1 refers to the main layer of a blockchain. Ethereum, Solana and Avalanche are all Layer 1 tokens. Layer 1 blockchains all battle with what @Vitalik called the blockchain trilemma – balancing decentralization, scalability and security.

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“Late 2021 was the era of the rise of alt L1s, @solana and @avalanche leading the charge.”

Related Terms:

Dictionary: Layer 2
Layer 2 is the secondary framework built on top of an existing blockchain. Its main goal is to solve transaction speed and scaling difficulties that Layer 1 blockchains encounter. The Ethereum Layer 2 makes transaction heavy activities like DeFi yield farming, minting NFTs and gaming cheaper and more accessible.
Dictionary: Mainnet
A mainnet is the Layer 1 of a blockchain where actual transactions occur, rather than other associated test networks such as signet and testnet. Mainnet coins such as ETH and BTC have monetary value and can be traded on the blockchain.

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