5 Promising Blockchain Layer-1 Networks To Watch In 2023
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Most blockchain developers will agree that Ethereum remains the most popular and important Layer-1 network today, and that’s certainly true in terms of the number of decentralized applications and cryptocurrencies it supports.
However, it’s also true that a number of rival platforms have emerged to challenge Ethereum, offering more sophisticated capabilities while improving on its most obvious shortcomings - its slow transaction speeds and high gas fees.
Ethereum’s inability to scale easily has resulted in a lot of interest in alternative Layer-1 blockchains, and many newer protocols have emerged to challenge it. These new blockchains are generally highly customized platforms with unique features and capabilities that enable them to support very specific use cases. More and more, it’s looking like there won’t be one overall “king” of blockchain. Instead, blockchain is morphing into a world of highly specialized chains tailored for different industries. As a result, there are a great many extremely promising new Layer-1 networks that users need to be aware of, and in this article we’re going to take a look at some of them.
Namada first introduced itself last year, announcing its strong emphasis on transaction anonymity and security. It’s the first fractal instance of the Anoma protocol. Anoma facilitates the operation of networked fractal instances, which intercommunicate but utilize varied state machines and security models. Anoma’s architecture is an attempt to build a platform which is architecturally homogeneous but with a heterogeneous security model. Thus, different fractal instances may specialize in
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