Layer 1 coins refer to cryptocurrencies that operate on their own blockchain. These blockchains are the foundational layer of the cryptocurrency ecosystem, often providing the infrastructure for other applications and tokens. Here are some of the most well-known Layer 1 coins:
1. Bitcoin (BTC)
- Blockchain: Bitcoin
- Description: The first and most well-known cryptocurrency. It is primarily used as a store of value and a medium of exchange.
2. Ethereum (ETH)
- Blockchain: Ethereum
- Description: Known for its smart contract functionality, Ethereum is a popular platform for decentralized applications (dApps) and other tokens.
3. Binance Coin (BNB)
- Blockchain: Binance Smart Chain (BSC)
- Description: Originally an ERC-20 token on Ethereum, BNB now operates on its own blockchain and is used within the Binance ecosystem for various purposes including transaction fees.
4. Cardano (ADA)
- Blockchain: Cardano
- Description: A blockchain platform for smart contracts, aiming to provide more advanced features than previous protocols.
5. Solana (SOL)
- Blockchain: Solana
- Description: Known for its high throughput and low transaction costs, Solana is designed for decentralized applications and crypto projects.
6. Polkadot (DOT)
- Blockchain: Polkadot
- Description: Aims to enable different blockchains to interoperate, sharing information and assets through a system of parachains.
7. Avalanche (AVAX)
- Blockchain: Avalanche
- Description: A high-performance, scalable blockchain platform designed for decentralized applications and financial primitives.
8. Algorand (ALGO)
- Blockchain: Algorand
- Description: Focuses on speed, security, and scalability. It supports smart contracts and other decentralized applications.
9. Tezos (XTZ)
- Blockchain: Tezos
- Description: A self-amending blockchain that can upgrade itself without the need for hard forks, supporting smart contracts and decentralized applications.
10. Elrond (EGLD)
- Blockchain: Elrond
- Description: Focuses on scalability and security, with its sharding architecture and secure proof-of-stake (SPoS) consensus mechanism.
11. Harmony (ONE)
- Blockchain: Harmony
- Description: A fast and secure blockchain for decentralized applications, focusing on creating a scalable and interoperable ecosystem.
12. Fantom (FTM)
- Blockchain: Fantom
- Description: Uses a directed acyclic graph (DAG) for consensus, aiming to provide high speed and low transaction costs for dApps.
13. Near Protocol (NEAR)
- Blockchain: NEAR Protocol
- Description: Focuses on usability and scalability, aiming to provide an easy-to-use platform for developers to build decentralized applications.
14. EOS (EOS)
- Blockchain: EOSIO
- Description: Designed for developing decentralized applications with a focus on scalability, flexibility, and usability.
15. Cosmos (ATOM)
- Blockchain: Cosmos Hub
- Description: Focuses on interoperability between different blockchains through the use of the Inter-Blockchain Communication (IBC) protocol.
16. Zilliqa (ZIL)
- Blockchain: Zilliqa
- Description: Focuses on high throughput with its sharding technology, enabling high-speed and low-cost transactions.
17. Hedera Hashgraph (HBAR)
- Blockchain: Hedera
- Description: Utilizes a unique consensus algorithm called Hashgraph, which promises high throughput and fast finality.
18. VeChain (VET)
- Blockchain: VeChainThor
- Description: Aims to enhance supply chain management and business processes, with a strong focus on enterprise adoption.
19. Qtum (QTUM)
- Blockchain: Qtum
- Description: Combines the security of Bitcoin's UTXO model with the flexibility of Ethereum's smart contracts.
20. ICON (ICX)
- Blockchain: ICON
- Description: Seeks to hyperconnect the world through its blockchain, facilitating interoperability between different blockchains.
21. Waves (WAVES)
- Blockchain: Waves
- Description: A blockchain platform that allows for the creation and management of custom tokens and decentralized applications.
22. Ontology (ONT)
- Blockchain: Ontology
- Description: Focuses on digital identity and data, aiming to provide a robust and scalable blockchain for enterprise solutions.
23. TRON (TRX)
- Blockchain: TRON
- Description: Designed to support decentralized content sharing and entertainment applications, with high throughput and scalability.
24. NEM (XEM)
- Blockchain: NEM (New Economy Movement)
- Description: Known for its Smart Asset System, which is highly customizable for various use cases including supply chain, payments, and more.
25. Theta (THETA)
- Blockchain: Theta
- Description: Aims to disrupt the video streaming industry by providing a decentralized streaming platform with high efficiency.
26. Horizen (ZEN)
- Blockchain: Horizen
- Description: Focuses on privacy and scalability through its sidechain architecture, enabling various applications on its network.
27. NEO (NEO)
- Blockchain: NEO
- Description: Often referred to as the "Ethereum of China," NEO supports smart contracts and aims to create a smart economy.
28. Kusama (KSM)
- Blockchain: Kusama
- Description: A canary network for Polkadot, allowing developers to experiment with and test new protocols and governance models in a live environment.
29. Celo (CELO)
- Blockchain: Celo
- Description: Focuses on making financial tools accessible to anyone with a mobile phone, emphasizing global financial inclusion.
30. Internet Computer (ICP)
- Blockchain: DFINITY
- Description: Aims to create a decentralized internet by enabling smart contracts to run at web speed, with unbounded capacity.