Peter Thiel-powered Layer 2 Layer N transforms into a Layer 1 blockchain N1, allowing developers to easily build futuristic applications.
N, the Ethereum-based Layer 2 solution, this week announced its transformation to its own Layer 1 blockchain, N1. The new type of Layer 1 blockchain promises to revolutionize the way applications are built, allowing developers to create a new generation of decentralized applications (DApps) with 100,000 tps and multilingual support.
Its predecessor, the N blockchain, a Layer 2 solution backed by billionaire Peter Thiel’s Founders Fund, provided developers with a high-performance blockchain with high scalability, high speeds, and low transaction fees – addressing the critical issues plaguing the Ethereum blockchain , were resolved. The evolution to N1, a full-stack app-centric Layer-1 blockchain, will deliver better speeds, performance and high scalability as the platform prepares for global adoption.
The N1 blockchain is designed to enable the next generation of crypto applications. It aims to allow developers with any previous coding language (any language) and any app to connect to the Layer 1 blockchain and run it on-chain in two clicks.
A hub of next generation products on N1 Blockchain
According to the team statement, N1 has a vision to enable developers to build hyper-app and next-gen products on the platform. The blockchain has pioneered the development of DApps using Typescript app development support, while other languages such as Solidity, Rust and C are also in the pipeline. This will greatly shorten the learning curve for deploying on-chain apps, especially for new Web 2 developers.
“We are proud to introduce a new type of blockchain, one that combines unprecedented computing capabilities with developer-friendly features to enable a new class of decentralized applications,” said Dima Romanov, CEO and co-founder of Layer N.
Additionally, the N1 blockchain also enables native application development, including the ‘hub’ wallet for asset management between applications, a wallet widget for unified login experiences between applications, as well as a ‘vercel-like’ deployment interface for developers to deploy applications start and manage in 2 clicks.
A large number of investors and partners
Thanks to the benefits and qualities of N1, the team has attracted several investors and partners since the launch of the Layer N Layer 2 solution. Some of the major investors include Founders Fund (the investment fund launched by Peter Thiel), Multicoin, dao5, Kraken, Amber, GSR and SALT. Before N1, the team built a powerful on-chain order book on Solana that handled over half a billion in volume.
A number of partners and platforms have also joined N1, with the mission to build next-gen applications on it. Most platforms chose N1 because of its support for computational complexity and its unique structure for DApps. DeFi platform Sushi is developing Susa, their flagship DEX, alongside a new advanced AMM protocol called Kubo that can only exist on N1 due to its computational complexity.
Other platforms include Amber Group, the main market maker backed by Paradigm, which is hatching its own perpetual DEX protocol, which will see innovative asset listings and deep liquidity. Mindshare, a new SocialFi app that allows users to trade crypto stories directly. Finally, a Westworld-inspired on-chain AI world simulation is also in development.
Since its inception, N1’s predecessor Layer N has seen its market share grow – with the platform becoming the first L2 solution to achieve a 100,000 tps benchmark on testnet. The N1 blockchain retains the same high-performance execution layer and replaces the Ethereum settlement layer with its own full-stack L1 infrastructure. This allows N1 to deliver 10-100x the scale and performance of existing chains, with transaction speeds exceeding 100,000 tps.
