Best Layer 1 Protocols for Xscan

Ethereum is a community-driven platform that serves as the backbone for the cryptocurrency ether (ETH) and a myriad of decentralized applications. This innovative technology facilitates not only digital currency transactions but also global payments and various applications. Through collaborative efforts, the community has established a vibrant digital economy, providing creators with new opportunities to generate income online and much more. Accessible to anyone with an internet connection, Ethereum breaks down barriers for billions who either lack bank accounts or face restrictions on their financial transactions. Its decentralized finance (DeFi) framework operates continuously without bias, allowing users to send, receive, borrow, earn interest, and even stream funds globally. In contrast to traditional internet services that often require sacrificing personal data control, Ethereum maintains openness as a fundamental principle – all that's needed is a wallet to participate. By staking your ETH, you can contribute to the network as a validator, helping to secure and maintain the integrity of this groundbreaking platform. As a result, Ethereum not only empowers individuals but also fosters a more inclusive financial system for everyone.

The BNB Smart Chain (BSC) is a blockchain framework created by Binance that facilitates the development of decentralized applications (dApps) and smart contracts. Functioning alongside Binance Chain, it merges rapid transaction speeds with the programmability found in Ethereum-compatible smart contracts. BSC employs a Proof-of-Staked-Authority (PoSA) consensus model, which boosts both scalability and efficiency while lowering transaction fees. Its compatibility with the Ethereum Virtual Machine (EVM) simplifies the process for developers to migrate dApps and projects from Ethereum seamlessly. As a result, BSC has gained significant traction within the decentralized finance (DeFi), gaming, and NFT sectors, providing users with an efficient, cost-effective, and secure environment for blockchain innovations. The growing ecosystem surrounding BSC continues to attract new projects and users alike, further solidifying its position in the market.

eXchange inFinite (XinFin) operates on a Delegated Proof of Stake Consensus network (XDPoS), facilitating hybrid relay bridges and offering instant block finality while ensuring compatibility with ISO20022 messaging standards, which greatly enhances its appeal to developers. This interoperable blockchain network is designed for global trade and finance, allowing for the digitization, tokenization, and rapid settlement of trade transactions, thereby improving efficiency and minimizing dependence on intricate foreign exchange infrastructures; this ultimately offers financial institutions greater flexibility in managing liquidity. The Delegated Proof of Stake (XDPoS) mechanism employs stakeholder approval voting to address consensus challenges in a manner that is both fair and democratic. XinFin Protocol (XDC) achieves greater interoperability with existing legacy systems and various blockchain platforms, positioning it as a preferred language for core banking systems, ERP systems, SWIFT systems, and many others, thus expanding its utility in the financial ecosystem. Furthermore, its innovative approach to streamlining processes promises to revolutionize financial transactions in the digital age.

Celo is an accessible platform that democratizes financial tools for anyone with a mobile device. It offers a global payments framework specifically designed for use on mobile platforms. A vast community of organizations and individuals collaborates to develop, enhance, and govern Celo, which is an open-source initiative that empowers users to create applications that transcend borders. With hyper-efficient incentives for light clients and full nodes, Celo achieves scalability for up to 6 billion smartphones. The platform boasts full compatibility with the Ethereum Virtual Machine (EVM), making it incredibly straightforward for newcomers to get involved. Additionally, Celo features a growing suite of native stablecoins, such as Celo Dollars, which are pegged to the value of various fiat currencies. Users can settle transaction fees using stablecoins or their own tokens, providing flexibility in payments. The ability to send money to any mobile number is made possible through Celo’s decentralized phone verification system, unlocking access to an expanding array of global cash-in and cash-out services. As a developer, you can explore, innovate, and launch projects that cater to your community by utilizing Celo's robust set of developer tools, fostering a vibrant ecosystem for financial inclusivity. Overall, Celo stands as a transformative force in the realm of mobile finance.

Solana is an exceptionally rapid, secure, and censorship-resistant blockchain that offers the essential infrastructure for widespread global adoption. Leading projects in DeFi, Web3, and blockchain gaming opt to develop on Solana with a focus on long-term sustainability. Capable of handling an impressive 50,000 transactions per second, Solana sets itself apart in the blockchain space. Don’t just take our word for it—put the network to the test and witness its remarkable speed firsthand. Say farewell to exorbitant fees and sluggish transaction confirmations, as Solana is purpose-built for high velocity without compromising quality. Utilizing Proof of History alongside other innovative technologies, Solana scales in accordance with Moore's Law. There’s no need to fret about increasing costs as your user base expands; Solana maintains low fees even for applications serving billions. Its unified global state promotes seamless composability between different projects, eliminating the complexity associated with multiple shards or layer 2 solutions. With Solana, developers can focus solely on innovation, unhindered by the limitations of traditional blockchain architectures.