2024's Top 15 Layer 1 Blockchain Projects Investment Guide You Can't Miss

Core Value of Layer-1 Blockchains

Layer-1 blockchains serve as the foundational infrastructure of the entire crypto ecosystem, bearing the critical responsibilities of recording transactions and maintaining secure consensus. From Bitcoin’s proof-of-work to Ethereum’s transition to proof-of-stake, and to the continuous innovation of emerging public chains, Layer-1 blockchains are addressing core bottlenecks such as scalability, speed, and cost, fostering the rapid development of second-layer and third-layer protocols.

What is Layer-1 Blockchain?

Layer-1 blockchain, also known as the base layer, is the core network that executes and records transactions. Unlike Layer-2 solutions built on existing blockchains to enhance scalability, Layer-1 protocols are independent networks with their own consensus mechanisms and security models. These networks ensure decentralization, security, and transparency, serving as the indispensable backbone of the digital asset world.

Core Advantages of Layer-1 Networks

As the fundamental framework of the crypto world, Layer-1 blockchains offer several key advantages:

• Decentralization & Security: Achieve true decentralization, immutability, and full transparency, ensuring no single entity controls the network
• Independent Operation: Execute transactions and smart contracts without relying on external systems, supporting various consensus mechanisms like proof-of-work and proof-of-stake
• Native Token Ecosystem: Support native tokens used for paying transaction fees, staking, and governance, building a complete economic model
• Developer-Friendly: Widely accepted and integrated into various systems, providing flexible infrastructure for developers
• Network Effects: Strong network effects make it more resistant to congestion than Layer-2 solutions; increasing user base directly enhances its value

Top Layer-1 Coins to Watch in 2024

1. Solana (SOL) - A New Benchmark for High-Speed Chains

Real-Time Data | Current Price: $123.90 | 24h Change: +1.67% | Market Cap: $69.71B | 1-Year Performance: -37.29%

Solana stands out with its extremely high throughput and very low transaction costs. Its innovative hybrid consensus mechanism combining Proof of History (PoH) and Proof of Stake (PoS) demonstrates industry-leading speed and efficiency, making it a popular choice for DApps.

The SOL token is used to pay for transaction and smart contract execution fees, with validators and delegators participating in network security through staking. In 2023, Solana ecosystem made significant progress: Solana Improvement Documentation (SIMD) formalized developer protocol optimization processes, generating 79 proposals; Firedancer upgrade brought major validator optimizations, greatly increasing transaction speed; the network hosts over 2,000 nodes, with security and decentralization levels not to be underestimated.

On the ecosystem level, meme coins, DeFi liquidity staking protocols (like醃料金融 and Jito), NFT marketplaces, Raydium, Orca, STEPN, and other innovative applications flourish. Jupiter, a key DeFi ecosystem participant, launched the Jup token and developed a world-class routing engine. Collaborations with Google Cloud and AWS enhanced network transparency. The partnership between Solana Mobile Saga and Helium Mobile further expanded the ecosystem boundaries.

2. Avalanche (AVAX) - Speed and Scalability in Parallel

Real-Time Data | Current Price: N/A | 1-Year Performance: 83% | Market Cap: $13.4B | TVL: $1.5B

Avalanche is a high-performance Layer-1 platform designed for DApps and custom blockchains, with transaction confirmation times under two seconds. Its unique consensus mechanism combines elements of classical consensus and Snowball, achieving a perfect balance of security, scalability, and decentralization.

The AVAX token is used for paying transaction fees, staking, and participating in consensus. In 2023, Avalanche’s C-Chain transaction volume hit new highs, with an estimated total of 3.07 million transactions, over 50% related to inscriptions. In just five days, users paid up to $13.8 million in fees for inscription-related transactions, reflecting strong demand for block space. On November 19, the C-Chain recorded a single-day transaction volume of 2.3 million (compared to an average of 450,000). The mainnet processes over 40 transactions per second with confirmation times around 1 second. Collaboration with JPMorgan’s blockchain platform showcased its potential in traditional finance.

3. Kaspa (KAS) - Explorer of New Consensus

Real-Time Data | Current Price: $0.05 | 24h Change: +3.05% | Market Cap: $1.22B | 1-Year Performance: -61.91%

Kaspa adopts the innovative GHOSTDAG consensus mechanism, enabling fast transaction processing and excellent scalability. Compared to traditional architectures, its high block generation rate and instant transaction confirmation are significant advantages.

The KAS token is used for paying transaction fees and as a medium of exchange, incentivizing miners to maintain system security. In 2023, Kaspa achieved major milestones: upgraded its consensus to the Dag Knight protocol evolution, greatly improving efficiency and transaction confirmation speed; shifted its development language from GoLang to Rust, leveraging modern hardware capabilities to significantly increase network block and transaction processing capacity; launched high-performance mobile wallets to meet mobile needs. Notably, the native KAS token surged over 1,800% in value in 2023, reflecting strong market attention. Improved P2P communication enhanced archival node data retrieval. Kaspa aims to become a fast, highly scalable, and secure first-layer PoW cryptocurrency, providing a solid foundation for smart contracts and DApps.

4. Bitcoin (BTC) - The Eternal Value of Digital Gold

Real-Time Data | Current Price: $88,750 | 24h Change: +1.39% | Market Cap: $1.77T | 1-Year Performance: -10.73%

As the pioneer of cryptocurrencies, Bitcoin remains central in the Layer-1 space. Launched in 2009, it is renowned for its pioneering blockchain technology, high security, and immutability. Its fixed supply of 21 million and decentralized nature have earned it the nickname “Digital Gold.”

BTC is used for digital payments and increasingly as a reserve asset. The halving events occurring roughly every four years reduce block rewards, enhancing scarcity. In 2023, Bitcoin ecosystem saw major advances: the Ordinals protocol enabled NFTs to be minted directly on the Bitcoin blockchain, spawning tokens like ORDI, SATS, RATS, and DOVI; the emergence of Bitcoin sidechains and Layer-2 solutions (like Stacks) filled the smart contract gap, opening new possibilities for complex ecosystem services and DeFi applications; protocols like Atomicals and ARC20 utilize Bitcoin’s smallest units (satoshis) to represent tokens; Taproot Assets protocol by Lightning Labs leverages UTXO script information to record various assets, further demonstrating Bitcoin’s multifunctionality.

5. Open Network (TON) - Blockchain of the Telegram Ecosystem

Real-Time Data | Current Price: $1.54 | 24h Change: +2.46% | Market Cap: $3.77B | 1-Year Performance: -74.17%

The Open Network, conceived by Telegram founder, is a decentralized blockchain aiming for high scalability and user-friendliness. After raising $1.7 billion via ICO and encountering regulatory disputes, Telegram exited in 2020, and the project continued under the TON Foundation and independent developer community NewTON.

TON employs multi-layer architecture and sharding to improve efficiency, supporting high transaction throughput. The native token Toncoin plays a core role in the network, used for transactions, governance, staking, and various services. In 2023, TON launched decentralized file storage and high-speed off-chain payment systems. A major event in March 2024 was Telegram announcing that 50% of advertising revenue would be distributed to channel owners via TON blockchain and paid in Toncoin, causing Toncoin’s value to surge 40%. Progress on Telegram’s potential IPO also attracts attention, which could significantly impact Toncoin’s application value.

6. Internet Computer (ICP) - Pioneer of Decentralized Cloud Computing

Real-Time Data | Current Price: N/A | 1-Year Performance: 112% | Market Cap: $5.7B | TVL: $88M

ICP, developed by DFINITY Foundation, aims to extend traditional blockchain capabilities, enabling smart contracts and software systems to run on-chain. Its unique consensus mechanism achieves high transaction throughput and scalability, redefining internet usage by providing a decentralized serverless cloud computing environment.

ICP tokens are used for transaction processing, smart contract execution, participant rewards, and protocol governance via the Network Nervous System (NNS). In 2023, ICP ecosystem made significant progress: integrated Websockets for real-time interactive applications; expanded with stable memory supporting more complex applications; smart contracts can securely call Web 2.0 services via HTTPS; direct integration with Bitcoin network simplifies cross-chain transactions. The ecosystem now supports issuing permissionless tokens for DAO governance, with SNS enhancing DAO participation. The DFINITY Foundation funds ecosystem development, and the surge in community and NFT projects reflects organic growth and innovation vitality.

7. Sei (SEI) - Speed Game for DeFi-Optimized Chains

Real-Time Data | Current Price: $0.11 | 24h Change: +1.91% | Market Cap: $725.71M | 1-Year Performance: -75.44%

Sei is a Layer-1 chain designed specifically for DeFi applications, providing high-speed and efficient trading and financial transaction environments. Its optimized order book and native matching engine significantly reduce latency, improving DEX efficiency.

The SEI token is used for paying transaction fees, governance participation, and staking. In 2023, Sei consolidated its position through strategic initiatives. The ecosystem fund grew to $120 million, including $50 million to support diverse Web3 applications like NFTs, gaming, and DeFi, after raising an additional $30 million. Growth strategies focus on Asian markets, leveraging regional tech advantages and high crypto adoption, with collaborations with projects like Graviton in India. Technical enhancements include chain-level optimizations to improve DEX and trading app performance and scalability, attracting developers. The ecosystem fund also supports early teams and founders to foster innovation.

8. Sui (SUI) - Innovative Practice of Move Language

Real-Time Data | Current Price: $1.41 | 24h Change: +0.25% | Market Cap: $5.27B | 1-Year Performance: -68.72%

Sui is an emerging Layer-1 platform focused on high throughput and scalability, supporting a wide range of DApps with fast and efficient performance. Its innovative consensus mechanism and Move programming language offer enhanced security and flexibility for developers.

SUI tokens are used for paying transaction fees, governance, and other network functions. In 2023, Sui made major progress through strategic token reallocation, redistributing 157 million SUI tokens to support community and DeFi applications. After mainnet launch, it was listed on multiple major exchanges, demonstrating scalability, with a record of 65.8 million transactions in a single day and a TVL of $188 million, ranking in the top ten. zkLogin introduced enhanced privacy, allowing users to access DApps via Web 2 social accounts. TurboStar on DEX aims to support ecosystem growth through fundraising, promotion, and pre-sale access.

9. Aptos (APT) - High-Speed Parallel Execution Engine

Real-Time Data | Current Price: $1.71 | 24h Change: +2.48% | Market Cap: $1.28B | 1-Year Performance: -82.11%

Aptos is a Layer-1 blockchain focused on providing high scalability, reliability, and usability for DApps. Its Move programming language enables secure, flexible smart contracts, and its efficient parallel execution engine significantly boosts transaction speed and throughput.

APT tokens are used for paying transaction fees, governance, and securing the network. In 2023, Aptos rapidly developed with support from experienced teams and over $400 million from prominent investors like Tiger Global and PayPal Ventures. Technical strengths include Move language and support for scalable transaction processing via parallel execution, with TVL surpassing $85 million, demonstrating market trust. Network activity surged, with hundreds of thousands of transactions and a large increase in new accounts. Strategic expansion and partnerships further enrich the ecosystem: integrating Sushi for DeFi services, collaborating with a payment platform for seamless Petra wallet transactions, and partnering with Microsoft, NEOWIZ, MARBLEX, and Lotte Group to enter gaming and entertainment. Launched standards for real-world digital assets, including infrastructure updates like NFT notification indexers and MSafe multi-signature solutions.

10. Polkadot (DOT) - Pioneer of Cross-Chain Interoperability

Real-Time Data | Current Price: $1.72 | 24h Change: +0.29% | Market Cap: $2.84B | 1-Year Performance: -77.04%

Polkadot is a multi-chain blockchain platform enabling trustless transfer of information and value between different blockchains. Its core advantages are interoperability, scalable multi-chain architecture, and the ability to connect and protect parachains.

DOT tokens play multiple roles in governance, staking, and bonding to parachains. In 2023, Polkadot showed outstanding growth and innovation: in March, GitHub contributions soared to 19,090, boosting application development and network security; parachains launched, providing more cost-effective models; next-generation scheduling mechanisms enhanced scalability and flexibility. Polkadot 2.0 announced major upgrades focusing on scalability, governance, and interoperability. Nominators increased staking by 49%, expanding user participation and security. The ecosystem welcomed five new parachains and implemented technical improvements aimed at scalability and attracting institutional investors.

11. Cosmos (ATOM) - Builder of Cross-Chain Security

Real-Time Data | Current Price: $2.03 | 24h Change: +1.75% | Market Cap: $985.28M | 1-Year Performance: -70.77%

Cosmos is a decentralized network of independent blockchains designed to address scalability and interoperability issues. Its Inter-Blockchain Communication protocol (IBC) allows blockchains to interact and share data while maintaining sovereignty.

ATOM tokens are used for staking to secure the network and governance. In 2023, Cosmos ecosystem made major progress: cross-chain security launched to enhance the security of smaller chains; Cosmos Hub on-chain activity increased significantly, with daily transactions reaching 500,000 and ATOM trading volume hitting 20 million; Theta upgrade introduced cross-chain accounts to improve inter-chain interaction; Rho upgrade expanded with liquidity staking and NFT modules, enhancing network functionality. Cosmos Hub 2.0 whitepaper outlined new visions. Cross-chain fund allocations of $26.4 million for 2024 development of cross-chain tech stack, with investor optimism.

12. Ethereum (ETH) - Absolute Leader in Layer-1

Real-Time Data | Current Price: $2,970 | 24h Change: +1.55% | Market Cap: $358.72B | 1-Year Performance: -15.00%

Ethereum dominates the Layer-1 space with the largest developer community and over 3,000 active DApps. Since its 2015 launch, it has evolved from a digital currency platform into the core of DeFi, NFT, and other ecosystems.

Its open-source decentralized nature allows developers to build and deploy applications without centralized control, with ETH providing powerful native functionality. Key advantages include first-mover benefits and a thriving ecosystem driven by a large developer base. In 2023, Ethereum continued advancing toward Ethereum 2.0, making critical progress in scalability, security, and sustainability. Major developments include further improvements to Layer-2 solutions like Rollups, which reduce costs and increase throughput. In 2024, the community expects full realization of Ethereum 2.0 benefits, especially scalability and energy efficiency. Transitioning to proof-of-stake will further reduce environmental impact and attract eco-conscious investors. Ongoing Layer-2 development and potential cross-chain integrations will make the ecosystem more interconnected, scalable, and user-friendly.

13. BNB Chain (BNB) - A Successful Example of Exchange-Led Public Chain

Real-Time Data | Current Price: $841.70 | 24h Change: +0.47% | Market Cap: $115.93B | 1-Year Performance: +19.77%

BNB Chain (formerly Binance Smart Chain) is a leading blockchain platform developed by a global exchange, launched in September 2020, running parallel to Binance Chain, providing high-performance network for smart contract applications.

Its dual-chain architecture allows seamless asset transfer, supporting DeFi, NFT, gaming, and more. Compared to Ethereum, BNB Chain has a younger but rapidly growing ecosystem, with over 1,300 active DApps as of October 2023. BNB token is used as platform fuel, widely applied within and outside Binance ecosystem. Its PoSA consensus mechanism offers faster, cheaper transactions than current Ethereum, with seamless support for existing Ethereum DApps and tools. In 2023, it rebranded to BNB Chain, emphasizing DeFi and NFT development beyond exchange functions. Introduced independent PoS chains for staking and governance to enhance security. Cross-chain bridges expanded interoperability with other ecosystems. Looking ahead to 2024, the ecosystem will focus more on scalability through Layer-2 integrations and potential sharding. More strategic partnerships, innovative DeFi protocols, and NFT projects are expected to bring rich financial opportunities and user experiences.

14. Kava (KAVA) - DeFi Hub of the Cosmos Ecosystem

Real-Time Data | Current Price: $0.08 | 24h Change: -0.94% | Market Cap: $82.89M | 1-Year Performance: -84.03%

Kava stands out with its unique Layer-1 architecture, combining Cosmos SDK’s scalability and interoperability, compatible with EVM to enable Ethereum DApps to leverage Kava features. Its dual-chain design makes it a center for innovative DeFi applications, offering fast transactions, low fees, and multi-asset usability.

Compared to established giants, Kava ecosystem is smaller but growing rapidly, with over 110 active DApps and TVL exceeding $250 million. KAVA tokens are used for governance and staking to promote DeFi activity. Kava uses Cosmos’s Tendermint BFT consensus to ensure high security and attack resistance, and offers a native USD-pegged stablecoin USDX to facilitate decentralized lending without relying on centralized oracles. The Kava 14 upgrade introduced direct minting of USDT on Cosmos, enhancing liquidity through strategic partnerships. In 2023, upgrades like Kava 12 and 13 focused on improving Cosmos DAO flexibility and user experience. Stablecoins and bridge integrations, along with emphasis on security and governance, further strengthen its position. A key change is shifting to a fixed supply KAVA token (Kava Tokenomics 2.0 upgrade), aiming to boost adoption and scarcity. Established a community-owned insurance vault with over $300 million assets, reflecting a deeper commitment to decentralization.

15. Zeta Chain (ZETA) - True Cross-Chain Interoperability Solution

Real-Time Data | Current Price: $0.07 | 24h Change: -0.38% | Market Cap: $80.77M | 1-Year Performance: -88.79%

ZetaChain aims to revolutionize interoperability by becoming the first truly “full-chain” Layer-1. It can connect and interact with any blockchain, regardless of architecture or native smart contract capabilities. Cross-chain asset transfers, data exchange, and even cross-chain smart contract execution become seamless, promoting a unified Web3 experience.

A relatively new player, ZetaChain launched in March 2023, with a young but rapidly growing ecosystem, over 20 active DApps, and strategic partnerships with players like Chainlink. Its main advantage is providing full-chain smart contracts that enable seamless interaction across any blockchain, solving challenges in cross-chain multi-chain environments. Milestones in 2023 include over 1 million active users across 100 countries, more than 6.3 million cross-chain transactions, and over 200 DApps deployed on testnet. Strategic partnership with Ankr Protocol accelerates Web3 infrastructure access, raising $27 million to enhance interoperability. Collaborations with BYTE CITY and Ultiverse bring cross-chain features into social entertainment and gaming sectors.

Layer-1 and Layer-2: Complementary Symbiosis

The ongoing development of Layer-1 and Layer-2 solutions reflects the dynamic nature of blockchain technology. While Layer-2 addresses scalability and speed, Layer-1 remains the foundation, ensuring security, decentralization, and infrastructure of the crypto world.

Their relationship is complementary: Layer-2 enhances performance but relies on Layer-1’s security and decentralization. Their development is synchronized. Improvements in Layer-1 (like Ethereum sharding) can boost Layer-2 performance, and successful Layer-2 solutions can inspire and promote Layer-1 upgrades. This dual-layer evolution will persist, as blockchain technology deepens in mainstream applications, requiring continuous balancing of security, decentralization, scalability, and speed.

Investment Outlook for Layer-1 Coins in 2024

As 2024 approaches, Layer-1 blockchains remain at the forefront of the crypto revolution. Their continuous evolution and adaptation are crucial to meet the diverse and expanding needs of the digital world. From Solana’s astonishing speed to Bitcoin’s unparalleled security, each Layer-1 chain offers unique features contributing to the rich tapestry of the blockchain universe.

Layer-2 improves efficiency but depends on Layer-1’s security and decentralization. This synergy ensures a balanced ecosystem: Layer-1 provides a secure, decentralized foundation, while Layer-2 delivers scalability and speed. Focus on Layer-1 coins should be on their technological innovation, ecosystem development, adoption progress, and long-term sustainability, rather than short-term price fluctuations.