Why do projects look to layer 1 blockchains to build on?
It is responsible for ensuring the security and stability of the network and serves as the foundation for all other layers that build on top of it. Often referred to as "base layer" blockchains and are typically characterized by their high security, scalability, and efficiency. In this post, we will explore why it's interesting for projects to develop inside and how they provide the foundation for a secure and stable blockchain ecosystem.
Security
Layer 1 blockchains provide a high level of security, as they are responsible for ensuring the integrity and consistency of the network. This is achieved through cryptographic algorithms, consensus mechanisms, and other security features that are built into the network. This high level of security makes layer 1 blockchains an attractive option for projects that need to store and manage sensitive data and assets.
Scalability
This means that they can handle large amounts of transactions and data without compromising on performance. This scalability is critical for projects that are looking to grow and scale over time, as it ensures that the network can handle increased demand without becoming bogged down by slow transactions or high fees.
Efficiency
In addition to security and scalability, layer 1 blockchains are also designed to be efficient. They use optimized algorithms and data structures to process transactions and data quickly and efficiently, reducing the time and resources required to perform these tasks. This efficiency is important for projects that need to manage large amounts of data and perform complex operations, as it ensures that the network can handle these tasks in a timely and cost-effective manner.
Flexibility
Highly flexibility meaning that they can be adapted and customized to meet the needs of different projects and applications. This flexibility is critical for projects that need to innovate and experiment with new technologies and approaches, as it allows them to build and develop new applications and services on top of the network.
Layer 1 blockchains are a critical component of the blockchain ecosystem, providing the foundation for a secure, scalable, efficient, and flexible network. They are an attractive option for projects that need to store and manage sensitive data and assets, and provide the foundation for a stable and secure blockchain ecosystem.
Wireshape is a layer 1 blockchain focused on tokenization of product information and AR NFTs. It's also an open source, so people can contribute to keep it constantly evolving. We are also open to supporting projects that seek security and scalability, as we use the Proof of Authority concept, which works similarly to Proof of Stake, but with selected validators. Learn more about how Wireshape can help you and reach out to an expert.
About Wireshape
Wireshape is a new and open layer-1 blockchain dedicated to decentralizing global product data, making it useful for consumers to have real, complete, and relevant information about a product before it is purchased, ensuring greater satisfaction by acquiring what was really expected. Wireshape delivers a new product data standard, open and audited by the community. Consumers themselves, as well as manufacturers, are able to suggest and validate the fidelity of product information publicly recorded on the blockchain.