Ethereum

Layer N

DeFi

<ul>
 <li>Peter Thiel-backed startup Layer N evolves into N1.&nbsp;</li>
 <li>The Layer 2 solution completes its evolution to Layer 1, replacing Ethereum.&nbsp;</li>
 <li>N1, the Layer 1 blockchain supports up to 100,000 tps and multi-language development.&nbsp;</li>
</ul>
N1, a high-performance Ethereum Layer 2 solution is moving on to its Layer 1 platform N1, an announcement this Thursday confirmed. The evolution from L2 to Layer1 aims at enabling the development of new generation decentralized applications (DApps), solving the scalability challenges that its parent blockchain, Ethereum, faces.
The evolution to N1, a full-stack app-centric Layer-1 blockchain, will see the project prioritize scalability and performance, opening the Web 3 world to futuristic app development. According to the team’s vision, the launch of N1 aims at helping quick building and deployment of DApps, allowing developers to take any code or any app, and run it on-chain in two clicks.
Taking a hyper-app and product-centric approach, the N1 blockchain will also provide multi-language support for developers, enabling them to build an app using their favourite coding language. It becomes the first blockchain to enable Typescript app development support (with other languages like Solidity, Rust, and C also in the pipeline). This will massively decrease the learning curve for deploying DApps on-chain, promoting innovation and creativity across the Web 3 space.&nbsp;
<blockquote>
 “We are proud to introduce a new type of blockchain, one that combines unprecedented computational capabilities with developer-friendly features to enable a new class of decentralized applications,” says Dima Romanov, CEO and co-founder of Layer N.&nbsp;
</blockquote>
In addition, the blockchain features native applications for better user experience and increased efficiency. Some of the native applications include a ‘hub’ wallet for cross-application asset management, a wallet widget for unified cross-application login experiences, as well as a ‘vercel-like’ deployment interface for developers to launch and manage applications in two clicks.&nbsp;
The team also announced several investors and partners following the launch of the blockchain. The investors include Founders Fund (the Peter Thiel-backed investment firm), Multicoin, dao5, Kraken, Amber, GSR, and SALT. The interest in N1 arose from its team who built a high-performance on-chain order book on Solana that processed over half a billion in volume.
N1 has also piqued the interest of several blockchain communities and teams, who are working closely to launch entirely novel and or enhanced crypto apps on the blockchain. Sushi, a leading DeFi platform, is developing Susa, their flagship perpetual DEX alongside a novel advanced AMM protocol called Kubo that can only exist on N1 due to its computational complexity.&nbsp;
Other partners include Amber Group, the major market maker backed by Paradigm, which is incubating their own perpetual DEX protocol that will see innovative asset listings and deep liquidity and Mindshare, a novel SocialFi app that will enable users to directly trade crypto narratives. A Westworld-inspired on-chain AI world simulation is also under development, with the team keeping its name under wraps for the moment.
N1 is set to adopt the advantages of its predecessor, Layer N, the first L2 to achieve a <a href="https://www.theblock.co/post/274816/founders-fund-backed-layer-n-hits-120k-tps-in-testing-ahead-of-february-public-testnet" rel="noopener noreferrer nofollow">100k tps benchmark on testnet</a>. N1 will maintain the high performance of Layer N’s execution layer while replacing the Ethereum settlement layer with its own full-stack L1 infrastructure. This enables N1 to deliver 10-100x the scale and performance of existing chains, with transaction speeds set to exceed 100,000 tps.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Peter Thiel-Backed Startup N1 Blockchain Launches, Prioritizing Scalability and Performance

Crypto Daily™

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