In a decetralized ecosystem, Layer 1 is the term used to describe the underlying main blockchain architecture or base layer network.
Examples of Layer 1 blockchains include Bitcoin, Ethereum, Binance Smart Chain, Solana, Terra and Avalanche. Check out our extensive resources on Layer 1s in the crypto space.
Terra is a blockchain created by Terraform Labs (TFL), founded by Do Kwon and Daniel Shin in January 2018. The main highlight of Terra is that it lets users create stablecoins pegged to fiat currencies, and aims to offer cheaper fees and faster transactions compared to other blockchains.
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