The Layer 2 blockchain solution N, backed by Peter Thiel’s Founders Fund, is undergoing a transformation into its own Layer 1 blockchain, N1. This move is expected to revolutionize the way applications are developed by enabling developers to create next-generation decentralized applications with high scalability, fast speeds, and low transaction fees. The N1 blockchain is designed to provide developers with a user-friendly platform to build hyper-apps and next-gen products, with support for various coding languages like Typescript, Solidity, Rust, and C. This will greatly reduce the learning curve for deploying on-chain apps, especially for new Web 2 developers.
The team behind N1 envisions a future where developers can easily build DApps using the platform’s advanced features and computational capabilities. CEO and co-founder Dima Romanov states that N1 combines unprecedented computational capabilities with developer-friendly features to enable a new class of decentralized applications. Additionally, the N1 blockchain allows the development of native applications, such as a ‘hub’ wallet for cross-application asset management, a wallet widget for unified login experiences, and a deployment interface for launching and managing applications in just two clicks.
The N1 blockchain has attracted a host of investors and partners, including Founders Fund, Multicoin, dao5, Kraken, and others. These investors see the potential of N1 in enabling the development of next-gen applications and are excited to be part of this innovative project. Many platforms have also joined N1 to build unique applications on top of the blockchain, taking advantage of its support for computational complexities and unique structure for DApps. DeFi platform Sushi is developing Susa, a perpetual DEX, while Amber Group is working on its own perpetual DEX protocol with innovative asset listings and deep liquidity.
Since its inception, N1’s predecessor Layer N has seen a significant growth in market share, becoming the first L2 solution to achieve a 100k tps benchmark on testnet. The evolution to N1 will maintain the high-performance execution layer while replacing the Ethereum settlement layer with its own full-stack L1 infrastructure. This upgrade will allow N1 to deliver 10-100 times the scale and performance of existing chains, with transaction speeds expected to exceed 100,000 tps. Overall, the N1 blockchain is shaping up to be a game-changer in the world of decentralized applications, providing developers with the tools they need to create innovative and high-performing applications on the blockchain.
