Best Layer 1 Protocols

Hive has a thriving ecosystem of over 126 apps, communities & projects and is home to some of the most-used Web3 apps in the world, such as Splinterlands, PeakD and HiveBlog. Wallets are incredibly important to securely store your cryptocurrencies and to interact with Web3 apps. Hive has multiple community-owned and open-source wallets available for Windows, macOS, Linux, iOS, Android & Web. The development of Hive and its ecosystem is made possible by contributors. To incentivize crucial work, such as Core Development, a DAO-like structure: the Decentralized Hive Fund (DHF), is being leveraged to intelligently fund important work.

GAYA Blockchain is the UAE’s first Layer-1 blockchain, aiming to unify gaming, social, DeFi, NFT, and real-world asset ecosystems on a single, eco-conscious platform. It uses a Proof-of-Stake consensus mechanism and is EVM-compatible, enabling developers to deploy smart contracts and leverage familiar tooling. Its architecture includes a “Cell-As-A-Service (CAAS)” data structure for efficient serialization and propagation. The Gaya Wallet serves as a multichain, non-custodial gateway to the ecosystem, offering fiat on/off ramps, in-app swaps, staking, and a gamified XP system that rewards engagement and may boost airdrop eligibility. GAYA token (GAYA) is the native utility token; it will be used for transaction fees, staking, governance through a DAO, ecosystem incentives, and in-app transactions. The economic model includes a dynamic gas mechanism with partial fee burns to introduce deflationary pressure, and carefully structured tokenomics with vesting schedules.

Polkadot is a blockchain network being built to enable Web 3.0, a decentralized and fair internet where users control their own data and markets prosper from network efficiency and security. Polkadot was founded in 2016 by Gavin Wood, former Co-Founder and CTO of Ethereum. Polkadot’s technology addresses the major issues that have stymied blockchain adoption in recent years. Polkadot’s software development toolkit, Substrate, created by Parity Technologies, makes it easy for blockchain developers to build their own custom, fit-for-use blockchains. Polkadot also enables multiple blockchains to communicate between each other, allows for easy upgradeability, and introduces “shared security”, a plug-and-play network security model that allows developers to focus on the technology and avoid spending time and resources recruiting a set of operators to run a new blockchain.

The Builder’s fastest path to market, NEAR is an open source platform that accelerates the development of decentralized applications. Building the tools to enable community-driven innovation that benefits people around the world. Near Inc is building NEAR, a new application platform designed to bring blockchain to wide variety of mainstream applications. Focusing on developer and end user experience, NEAR is high performance infrastructure that real people can use. NEAR is a decentralized application platform that is secure enough to manage high value assets like money or identity and performant enough to make them useful for everyday people, putting the power of the Open Web in their hands. NEAR’s token economy is built around the NEAR token, a unit of value on the platform that enables token holders to use applications on NEAR, participate in network governance, and earn token rewards by staking to the network.

Technology that enables frictionless finance. We are the technology company that built and developed the world’s first open, permissionless, pure proof-of-stake blockchain protocol that, without forking, provides the necessary security, scalability, and decentralization needed for today’s economy. With an award-winning team, we enable traditional finance and decentralized financial businesses to embrace the world of frictionless finance. Advanced technology paving the way for sophisticated applications. Comprehensive smart contract capabilities enable DeFi solutions and dApps that can scale to billions of users, tens of millions of daily transactions, with negligible transaction fees. Algorand Standard Assets are standard blockchain assets with customizable options, directly in Layer-1. Secure transfers and immediate transaction settlement for multiparty transactions built in Layer-1. Enabling enterprise to embrace decentralized finance.

Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. Global payments infrastructure built for mobile. Thousands of organizations and individuals are developing, growing, and governing Celo, an open-source platform that enables anyone to build borderless applications. Hyper-efficient light client and full node incentives allowing for scalability to 6 billion smartphones. Full EVM compatibility making it easy to get started. Growing family of native stablecoins, like Celo Dollars, which follow the value of fiat currencies. Pay transaction fees with stablecoins or your own tokens. Users can easily send currency to any mobile number, enabled by Celo’s decentralized phone verification protocol, and get access to a growing ecosystem of global cash-in cash-out options. Explore, build, and ship ideas for your community using Celo’s developer tools.