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Layer N, a high-performance Layer 2 blockchain with over 100,000 transactions per second (TPS), evolves into a Layer 1 blockchain, N1.
Earlier this week, Layer N, a Peter Thiel-backed Layer 2 solution, announced its evolution into Layer 1, N1 blockchain. The N1 blockchain aims to revolutionize decentralized application development, enabling the growth of next-generation applications with its fast, scalable and multi-language network.
N1 blockchain is a full-stack app-centric Layer-1 blockchain designed to prioritize scalability and performance, to “enable a new wave of crypto applications that couldn’t exist prior”, the team statement reads. The blockchain allows any developer to take any code, or any application and run it on-chain in just two clicks.
Following its predecessor, N1 will provide a high-performance Layer 1 blockchain for the building of futuristic decentralized applications (DApps) including in the decentralized finance (DeFi) and artificial intelligence (AI) space. The project is the brainchild of experienced industry veterans from Web 3 projects such as DFINITY, Morpho, and Solana.
Crucially, the N1 blockchain supports multiple programming languages and delivers transaction speeds exceeding 100,000 tps. In addition, the project developers will also help mentor and guide new Web 3 developers, focusing on incubating innovative applications that push the boundaries of what’s possible in the blockchain space.
“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.
‘Multi-Language Development With Next Gen Features’
As explained above, the platform will allow developers to create hyper-applications and products via its multi-language approach. The N1 blockchain becomes the first to enable Typescript app development support (with other languages like Solidity, Rust, and C also in the pipeline). This eases the learning curve for Web 2 (or Web 3) developers aiming to build and deploy on-chain applications.
Moreover, N1 will also have its native applications that improve efficiency and cross-chain capabilities across its ecosystem. Some of these features 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.
The new Layer 1 blockchain will adopt all the advantages that the Layer N had including fast speeds, low fees and high performance 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.
Building Partnerships Across The Web 3 Ecosystem
Following the launch of N, many investors looked into investing in the latest evolution, with the private sale raising over the needed capital. The move to Layer 1 attracted major players in the Web 3 space including Founders Fund, Multicoin, dao5, Kraken, Amber, GSR, and SALT. Prior to N1, the team built a high-performance on-chain order book on Solana that processed over half a billion in volume.
Notwithstanding, various partners and projects have pledged to build on the N1 blockchain, mainly due to the unique features it offers such as simplifying the computation complexities involved in building the platforms.
Sushi is developing Susa, their flagship perpetuals DEX alongside a novel advanced AMM protocol called Kubo that can only exist on N1 due to its computational complexity. Amber Group, the major market maker backed by Paradigm, is incubating their own perpetual DEX protocol that will see innovative asset listings and deep liquidity. Mindshare is a novel SocialFi app that will enable users to directly trade crypto narratives. Finally, the team statement also confirmed a Westworld-inspired on-chain AI world simulation is under development on N1.
