15 Layer-1 Blockchains to Watch in 2024: Unlocking the Best Layer-1 Ecosystems

Why Are Layer-1 Blockchains Worth Paying Attention To?

Layer-1 blockchains serve as the foundational infrastructure of the entire crypto ecosystem, carrying the triple mission of decentralization, security, and transparency. From Bitcoin’s pioneering debut to Ethereum’s glamorous shift to proof of stake (PoS), and to the flourishing of emerging public chains, Layer-1 networks are undergoing a profound technological and ecological revolution.

Unlike other blockchain layers, Layer-1 is an independent core network capable of executing transactions and smart contracts without relying on external systems. They provide decentralized infrastructure, native token economies, and strong network effects—essential elements in the Web3 era.

15 Layer-1 Projects to Watch: An Overview

1. Solana(SOL)：The Dark Horse of Ultra-High-Speed Transactions

Latest Market Data: SOL current price $124.01, market cap $69.78B, 1-year change -37.23%

Solana stands out in the competitive Layer-1 race due to its astonishing transaction throughput and extremely low costs. Its innovative hybrid consensus mechanism of Proof of History(PoH) and proof of stake(PoS) has made it a popular choice among DApp developers.

In 2023, Solana’s ecosystem achieved several major breakthroughs: the launch of SIMD(SIMD), standardizing protocol optimization processes with 79 SIMD proposals; the Firedancer validator upgrade aimed at significantly increasing transaction speed; the network now hosts over 2,000 nodes with increasing validator diversity.

Ecological prosperity is evident—from the airdrop of meme coin BONK, to liquidity staking protocols like Marinade Finance(, to Jupiter’s secondary routing engine upgrade, and cross-industry collaborations such as Solana Mobile Saga and Helium Mobile—all demonstrate Solana’s commitment to expanding application boundaries. The hot sales of Saga directly reflect market confidence in the Solana ecosystem.

) 2. Avalanche###AVAX(：Speed and Security Combined

Latest Market Data: AVAX current price $12.45, market cap $5.35B, 1-year change -69.05%

Avalanche is known for its unique hybrid consensus mechanism and transaction confirmation times under 2 seconds. It combines classical consensus with Snowball)Snowball( consensus, achieving a balance of security, scalability, and decentralization.

In 2023, Avalanche’s performance warrants attention: the daily transaction volume on C-Chain exceeded 2.3 million (peak on Nov 19), a significant increase from 450,000 previously. Transactions related to inscriptions)Inscriptions### now account for over 50% of total volume, with user-minted fees reaching $13.8 million in five days, reflecting surging demand for block space. With ASC-20 tokens gaining popularity, the mainnet’s transaction processing exceeds 40 TPS. Additionally, collaboration with JPMorgan’s Onyx platform further validates Avalanche’s potential in institutional applications.

( 3. Kaspa)KAS###：Testing Ground for New Consensus Mechanisms

Latest Market Data: KAS current price $0.05, market cap $1.22B, 1-year change -61.92%

Kaspa employs the revolutionary GHOSTDAG(GHOSTDAG) consensus mechanism, enabling high-speed transactions without sacrificing security. Major upgrades in 2023 include the evolution of consensus to Dag Knight version, migration of development language from GoLang to Rust to leverage modern hardware, and the launch of high-performance mobile wallets.

These technological advances have garnered notable market reactions—KAS native tokens surged over 1,800% year-over-year. P2P communication features have been enhanced to access more historical data, and Kaspa’s long-term vision is to become an efficient, scalable, and secure PoW Layer-1, providing a solid foundation for smart contracts and DApps.

4. Bitcoin(BTC)：Fortress of Digital Gold

Latest Market Data: BTC current price $88.63K, market cap $1.77T, 1-year change -10.82%

As the pioneer of crypto assets, Bitcoin’s dominant position in Layer-1 is unshakable. Its core advantages—decentralization, immutability, and a fixed supply cap of 21 million—have earned it the nickname “Digital Gold.”

In 2023, Bitcoin’s ecosystem innovation focused on expanding smart contract capabilities: the Ordinals protocol allows on-chain NFT minting, leading to tokens like ORDI and SATS; Layer-2 solutions such as Stacks broke through Bitcoin’s native smart contract limitations; Taproot Assets protocol creatively records various assets using UTXO scripts. These developments indicate Bitcoin’s evolution from a simple store of value to a more expressive asset platform.

5. The Open Network(TON)：Telegram’s Blockchain Ambition

Latest Market Data: TON current price $1.54, market cap $3.78B, 1-year change -74.08%

Conceived by the Durov brothers, founders of Telegram, TON has undergone regulatory challenges with the SEC but is now developed by the TON Foundation and an independent developer community. Its multi-layer sharding architecture and native Toncoin economy are gradually gaining vitality.

In 2023, TON launched decentralized file storage and high-speed off-chain payment systems, greatly enhancing practical usability. Notably, in March 2024, Telegram announced that 50% of advertising revenue would be distributed to channel owners—managed by TON and paid in Toncoin—causing Toncoin’s value to surge 40%. The potential IPO and further on-chain integrations suggest vast future application scenarios for Toncoin.

6. Internet Computer(ICP)：Vision of Decentralized Cloud Computing

Latest Market Data: ICP current price $3.03, market cap $1.65B, 1-year change -72.88%

Developed by DFINITY Foundation, ICP aims to reshape the internet through decentralized, serverless environments. Its unique consensus mechanism and smart contract capabilities enable complex applications to run directly on-chain.

In 2023, ICP made progress including: WebSockets integration for real-time interaction, stable memory expansion for complex app development, simplified outbound HTTPS calls for Web 2.0 service integration, and direct Bitcoin integration eliminating cross-chain intermediaries. Ecosystem-wise, permissionless token issuance, DAO governance support, and a surge in community and NFT projects highlight ICP’s appeal as an open platform. DFINITY’s funding programs further accelerate ecosystem growth.

7. Sei(SEI)：Tailored Layer-1 for DeFi

Latest Market Data: SEI current price $0.11, market cap $727.00M, 1-year change -75.38%

Sei is known for its order book optimization and native matching engine, designed specifically for decentralized trading. Its unique on-chain design significantly reduces latency and enhances DEX efficiency.

In 2023, Sei’s expansion strategy proved effective: ecosystem fund increased to $120 million (including $50 million from Foresight Ventures), supporting NFT, gaming, and DeFi applications; total funding reached $30 million; focused on Asian markets, establishing partnerships with projects like Graviton. Technologically, ongoing on-chain optimizations continue to improve transaction performance, creating a high-efficiency platform for developers.

8. Sui(SUI)：Power of Move Language and Parallel Execution

Latest Market Data: SUI’s latest real-time data is unavailable; market cap approximately $15.4B; 1-year change approximately -73%

Sui emphasizes high throughput and scalability, featuring the Move programming language and innovative consensus mechanisms. Its design supports a wide range of DApps at low cost.

Since mainnet launch, Sui has demonstrated strong ecosystem vitality: daily transaction volume reached 65.8 million, TVL surged to $1.88 billion, entering the top ten. The launch of zkLogin greatly improves user experience, allowing access to DApps via Web 2 social accounts. Initiatives like Turbos DEX’s TurboStar plan and zero-fee support further promote ecosystem growth.

9. Aptos(APT)：Best Practices in Parallel Execution and Move

Latest Market Data: APT current price $1.71, market cap $1.28B, 1-year change -82.19%

Founded by core developers of Libra/Diem, Aptos focuses on high scalability, reliability, and usability. Its Move language and parallel execution engine are core advantages.

In 2023, Aptos received over $400 million in investments from Tiger Global, PayPal Ventures, and others, continuously improving its ecosystem infrastructure. Integrations with Sushi for DeFi, Coinbase Pay wallet support, and collaborations with Microsoft and gaming companies demonstrate multi-sector expansion. Infrastructure like digital asset standards and NFT indexers further enrich its ecosystem.

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

Latest Market Data: DOT current price is unavailable; market cap approximately $9.6B; 1-year change -0.39%

Polkadot’s core value lies in enabling cross-chain communication—trustless transfer of information and value across different blockchains. Its multi-chain architecture and parachain network provide unique scalability.

In 2023, Polkadot achieved several milestones: a record high of 19,090 contributions on GitHub(19,090), launch of parachains to reduce costs, enhanced flexibility with Next-Generation Scheduling, and the Polkadot 2.0 upgrade plan indicating bigger breakthroughs. The launch of nomination pools increased staking by 49%, strengthening decentralization. The launch of Circle’s USDC and testnet optimizations further improve ecosystem infrastructure.

( 11. Cosmos)ATOM(：Pioneer of Cross-Chain Communication

Latest Market Data: ATOM current price $2.03, market cap $984.31M, 1-year change -70.76%

Cosmos addresses scalability and interoperability via the IBC)IBC### protocol, enabling independent blockchains to communicate seamlessly while maintaining sovereignty.

In 2023, Cosmos ecosystem was vibrant: interchain security(Interchain Security) enhances small chain security; Theta upgrade introduces cross-chain accounts; Rho upgrade adds liquidity staking and NFT modules; daily transaction volume reaches 500,000. The release of Cosmos Hub 2.0 and $26.4 million in 2024 ecosystem investments, including dYdX migration and Noble’s USDC integration, continue to drive ecosystem expansion.

( 12. Ethereum)ETH(：Backbone of the Largest Developer Community

Latest Market Data: ETH current price $2.97K, market cap $358.73B, 1-year change -14.99%

Ethereum maintains its leading position in Layer-1 thanks to the largest developer community)over 3,000 active DApps### and the most mature DeFi/NFT ecosystem. From Vitalik’s creation in 2015 to today’s ecosystem prosperity, Ethereum’s ongoing evolution defines the standard for smart contract platforms.

In 2023, Ethereum’s highlights include improvements in Layer-2 solutions(like Rollups), which play a key role in reducing fees and increasing throughput. Looking ahead to 2024, fully realizing Ethereum 2.0’s PoS advantages, energy efficiency gains, mature Layer-2 solutions, and potential interoperability with other chains will further enhance Ethereum’s ecosystem connectivity and user experience.

13. BNB Chain：The Bridgehead of CEX Ecosystem

Latest Market Data: BNB current price $841.00, market cap $115.83B, 1-year change +19.79%

BNB Chain(formerly BSC) was developed by Binance. Since its launch in September 2020, its high performance, low costs, and PoSA consensus mechanism have attracted many developers. Although younger than Ethereum, BNB Chain’s ecosystem is growing rapidly, with over 1,300 active DApps.

In 2023, BNB Chain rebranded, strengthening its vision beyond Binance exchange. The introduction of an independent PoS chain enhances decentralization; cross-chain bridges expand interoperability—these initiatives lay the groundwork for further development in 2024. Anticipated Layer-2 integrations, sharding implementations, strategic partnerships, and emerging DeFi/NFT projects will continue to enrich BNB Chain’s capabilities and applications.

( 14. Kava)KAVA(：DeFi Hub within the Cosmos Ecosystem

Latest Market Data: KAVA current price $0.08, market cap $82.88M, 1-year change -84.03%

Kava combines Cosmos SDK’s scalability with EVM compatibility, creating a unique “dual-chain” architecture. Its native stablecoin USDX and low-cost DeFi environment make it a hotbed for innovative applications. Although its ecosystem has over 110 DApps and a TVL over $250 million, growth potential remains significant.

Kava employs Tendermint BFT consensus for security, avoiding reliance on centralized oracles. The 12/13 upgrades in 2023 focused on enhancing DAO flexibility and user experience, with key stablecoins and bridge integrations boosting liquidity. The transition of KAVA tokens to a fixed supply)Tokenomics 2.0### aims to promote adoption and scarcity. The establishment of a $300 million community insurance fund marks a new level of decentralized operation.

( 15. ZetaChain)ZETA(：Pioneer of Full-Chain Interoperability

Latest Market Data: ZETA current price $0.07, market cap $80.72M, 1-year change -88.79%

ZetaChain positions itself as the first truly “full-chain” Layer-1, capable of connecting any blockchain without regard to architecture differences. Its full-chain smart contracts enable seamless cross-chain asset transfers, data exchange, and contract execution.

Although ZetaChain only launched in March 2023, its milestone achievements are impressive: over 1 million active users in 100 countries, more than 6.3 million cross-chain transactions, and deployment of over 200 DApps on testnet. Strategic partnership with Ankr Protocol accelerates infrastructure access, with $27 million in funding strengthening ecosystem development. Collaborations with BYTE CITY and Ultiverse bring cross-chain capabilities into social entertainment and gaming, greatly expanding application possibilities.

Layer-1 and Layer-2: Complementary Dual-Layer Evolution

The development of Layer-1 and Layer-2 solutions is not a zero-sum game but a complementary relationship. Layer-2 enhances performance to address Layer-1’s scalability bottlenecks, yet still relies on Layer-1’s security and decentralization as its foundation.

This dual-layer synergy will continue to evolve: Layer-1 improvements like Ethereum sharding enhance Layer-2 performance, and vice versa. As blockchain enters mainstream applications, balancing security, decentralization, scalability, and speed will drive ongoing optimization of this dual-layer ecosystem.

Investment Logic for Layer-1 in 2024

In 2024, the Layer-1 race will show diversification: speed-focused projects like Solana), Kaspa(; interoperability-oriented chains like Polkadot), Cosmos(; application-specific chains like Sei); cross-chain solutions like ZetaChain. Bitcoin and Ethereum, as the market cap “double treasures,” still lead in ecosystem innovation and institutional recognition. Emerging Layer-1s such as TON, benefiting from the Telegram ecosystem, and top-tier teams backing Aptos and Sui, are worth continuous attention.

The key is to understand each chain’s core value proposition—whether pursuing ultimate performance, cross-chain interoperability, or application innovation—each has Layer-1 projects worth exploring.