Best Layer 1 Protocols for Bloq

Bitcoin is a revolutionary payment network and a new type of money. Bitcoin operates with peer-to-peer technology. There is no central authority or bank involved in managing transactions and issuing bitcoins. Bitcoin is open-source. Its design is publicly available. Nobody owns or controls Bitcoin. Everyone can participate. Bitcoin's unique properties allow for new uses that are not possible with any other payment system. Bitcoin transactions are protected by energy and mathematics. Cryptographic signatures stop other people spending your money. Proof of work (PoW), which is energy that is spent on proof of work, prevents others from undoing, changing or losing your transactions. Bitcoin can help you keep your money safe and protect you from fraud.

Ethereum is the community-run technology that powers the cryptocurrency, Ethereum (ETH), and thousands of decentralized apps. Ethereum is a technology that allows for digital money, global payments, as well as applications. The community has created a vibrant digital economy, new ways for creators of online income, and many other benefits. It's accessible to anyone, anywhere in the world. All you need is the internet. Today, billions cannot open bank accounts and others have their payments blocked. The Ethereum decentralized finance system (DeFi), never sleeps nor discriminates. You can send, receive and borrow money anywhere in the world with an internet connection. We can now access 'free' internet services without having to give up our personal data. Ethereum services are available by default. You only need a wallet. These services are free and easy-to-set up. They can be controlled by you and work without your personal information. Stake your ETH to become an Ethereum validator. Staking is a public good for the Ethereum ecosystem. You can help secure the network and earn rewards in the process.

Polkadot, a blockchain network, is being built to enable Web3.0. This will allow users to control their data and ensure that markets benefit from network efficiency. Gavin Wood, a former co-founder and CTO at Ethereum, founded Polkadot in 2016. Polkadot's technology solves the major problems that have hindered blockchain adoption over the past few years. Parity Technologies created Polkadot's Substrate software development toolkit that allows blockchain developers to create their own custom, fit for use blockchains. Polkadot allows multiple blockchains to communicate with each other, allows for easy upgrades, and introduces "shared Security", a plug and play network security model that allows developers focus on the technology instead of spending time and resources recruiting operators to run a new Blockchain.

Technology that allows for frictionless financing. We are the technology company that developed and built the first open, permissionless, pure-proof-of-stake blockchain protocol. This protocol, which is free from forking, provides the security, scalability and decentralization necessary for today's economy. We are a team of award-winning professionals that enable traditional finance and decentralized financial companies to embrace frictionless finance. Advanced technology opens the door to sophisticated applications. DeFi solutions and DeApps with smart contract capabilities can scale to billions of people, tens or millions of transactions per day, and incur negligible transaction fees. Algorand Standard Assets, which are standard blockchain assets, have customizable options and can be found directly in Layer-1. Layer-1 provides secure transactions and transaction settlement for multiparty transactions. Facilitating enterprise adoption of decentralized finance

For blockchain developers who want rapid progress, unprecedented interoperability is available and scalability is possible. Substrate was used to build the project. It has a similar codebase and multichain infrastructure to Polkadot's cousin Kusama. Technology and society have become so interdependent that large entities are able to overstep their authority and stretch their boundaries. Kusama was created as a risk-taking network for Polkadot. It's a platform that allows change agents to take control, incite innovation, and disrupt the status quo. You can ship your product quickly if you move fast. Kusama's willingness to take risks and agile mentality allow developers to quickly move through the governance and upgrade process. This allows for rapid progress and growth. You can build on a next-generation multichain network that is sharded and uses the most recent features before they are available on Polkadot.

Build on Avalanche. You can build without limitations. Avalanche is a platform that allows you to create decentralized financial applications. It is open and programmable. Launch Ethereum dapps to instantly confirm transactions and process thousands of transactions per minute. This is far more than any other decentralized blockchain platform. You can deploy blockchains that meet your application requirements. You can create your own virtual machine and decide how the blockchain should work. Secure the platform by locking up your AVAX and facilitating transactions. Most likely, you have the hardware necessary to join the platform. Avalanche supports Solidity. All your favorite tools, such as Remix, Truffle, or Tenderly, work right out of the box. Avalanche smart contracts are only a tenth as expensive as Ethereum. Low gas fees, front-running, adverse effects, and other negative effects of slow smart contracts blockchains are all gone.

Only truly decentralized cryptocurrency will survive as incumbent institutions are increasingly threatened with the wild potential of blockchain tech. Classic was created in response to contract censorship on Ethereum's sister chain. It has shown its ability to resist all odds and deliver the original Ethereum vision for unstoppable applications. ETC is uniquely positioned as the Smart Contract Platform for the future. As other chains are compromised or taken over by special interests, it combines the technology of ETH and the philosophy of BTC. You are invited to explore the past, present, and future of Ethereum Classic. Learn about its principles, value proposition, community and more.

Solana is a fast and secure blockchain that can withstand censorship. It provides the open infrastructure necessary for global adoption. Solana is the platform that has been chosen by the best projects in DeFi, Web3 and blockchain gaming to be built on for the long-term. Solana can process 50k transactions every second. We don't think so. To experience Solana's speed, stress test the network. Say goodbye to slow confirmations and high fees. Solana is designed for speed without compromises. Solana uses Proof of History and other innovative innovations to scale the network at Moore's Law speed. Don't worry about fees rising as your user base increases. Solana is designed for applications that have billions of users to keep fees low. Solana's single global status ensures that projects can be connected. Never deal with multiple layers 2 or shards.

Litecoin, a peer to peer Internet currency, allows instant, almost-zero-cost payments to anyone around the globe. Litecoin, a global open-source payment network, is completely decentralized and does not have any central authorities. Mathematical security ensures that the network is secure and allows individuals to manage their finances. Litecoin has a faster transaction confirmation time and better storage efficiency than any other math-based currency. Litecoin, which has substantial industry support, trade volume, and liquidity, is a solid medium of commerce that complements Bitcoin. Wallet encryption lets you secure your wallet so you can view transactions and balance. However, you will need to enter your password to spend litecoins. This protects you from trojans and wallet-stealing viruses, and also allows you to perform a sanity test before sending payments.