New York, New York, December 5th, 2024, Chainwire

Layer N unveils its transformation into a new type of Layer-1 aimed at enabling new generation applications with 100,000 tps and multi-language support.

Layer N, the high-performance blockchain project backed by Peter Thiel’s Founders Fund, has announced its evolution into N1, a full-stack app-centric Layer-1 blockchain designed to prioritize scalability and performance, facilitating a new wave of crypto applications that couldn’t exist prior. N1’s vision is to take any code, any app, and run it on-chain in two clicks.

N1 adopts a hyper app and product-centric approach. It will be the first chain to enable Typescript app development support (with other languages like Solidity, Rust, and C also in the pipeline), significantly decreasing the learning curve for deploying on-chain apps. N1 will also feature native applications, including a ‘hub’ wallet for cross-application asset management, a wallet widget for unified cross-application login experiences, and a ‘vercel’-like deployment interface for developers to launch and manage applications in two clicks.

N1 collaborates closely with several teams to launch novel or enhanced crypto apps. Sushi is developing Susa, their flagship perpetuals DEX, along with an advanced AMM protocol called Kubo that can only exist on N1 due to its computational complexity. Amber Group, backed by Paradigm, is incubating a perpetual DEX protocol that will introduce innovative asset listings and deep liquidity. Mindshare is a novel socialfi app that allows users to directly trade crypto narratives. Additionally, a Westworld-inspired on-chain AI world simulation is being developed. All of these apps feature a unique theme: they cannot be built elsewhere due to their computational complexity.

Originally conceived as an L2 solution for Ethereum – which became the first L2 to achieve a 100k tps benchmark on testnet – N1 has maintained its high-performance execution layer while replacing the Ethereum settlement layer with its own full-stack L1 infrastructure. This change responds to Ethereum's limitations in achieving higher scale, enabling N1 to offer 10-100x the scale and performance of existing chains, with transaction speeds exceeding 100,000 tps.

“We are proud to introduce a new innovative blockchain, one that combines unprecedented computational capabilities with developer-friendly features to enable a new class of decentralized applications,” says Dima Romanov, CEO and co-founder of Layer N.

The team behind N1 has attracted significant investment to date from Founders Fund, Multicoin, dao5, Kraken, Amber, GSR, and SALT. Prior to N1, the team built a high-performance on-chain order book on Solana that processed over half a billion in volume.

About N1:

N1 is a high-performance Layer-1 blockchain designed to enable the next generation of crypto applications. Founded by a team of industry veterans whose experience spans projects like DFINITY, Morpho, and Solana, N1 supports multiple programming languages and delivers transaction speeds exceeding 100,000 tps. The platform focuses on incubating and supporting innovative applications that push the boundaries of what’s possible in the blockchain space.

Contact: Edelstein Dan
Email: PR@marketacross.com

This article was originally published on Chainwire