Thiel-Backed Startup Launches Layer-1 Blockchain N1

N1 is collaborating with several teams to launch new and improved crypto apps.

Layer N, a high-performance blockchain backed by Peter Thiel’s Founders Fund, has evolved into N1, a full-stack app-focused Layer-1 blockchain.

N1 is built to prioritize scalability and performance, allowing new crypto applications that weren’t possible before. Its goal is to make it easy to run any code or app on-chain with just two clicks.

N1 intends to embrace an app product-centric strategy. It will be the first chain to provide Typescript app development support. Other languages like Solidity, Rust, and C are also in the process, significantly lowering the learning curve for deploying on-chain apps.

Additionally, N1 will offer native tools like a ‘hub’ wallet for managing assets across apps, a wallet widget for easy login across apps, and a simple deployment interface for developers to launch and manage apps with just two clicks.

N1 is collaborating with several teams to launch new and improved crypto apps. Sushi is creating Susa, a perpetual DEX, and Kubo, a revolutionary advanced AMM protocol, which can only exist on N1 because of its computational complexity.

Amber Group, a major market maker backed by Paradigm, is working on its own perpetual DEX with innovative asset listings and deep liquidity. Mindshare is a new social-fi app that lets users trade crypto narratives, and there’s also a Westworld-inspired on-chain AI world simulation in development. These apps are special because their complexity makes them impossible to build on other platforms.

Initially, N1 was designed as an L2 solution for Ethereum and became the first L2 to reach 100k transactions per second (tps) on its testnet. Now, N1 has kept its high-performance execution layer but replaced Ethereum’s settlement layer with its own full-stack Layer-1 infrastructure.

This shift happened because Ethereum was limiting scalability. With this new setup, N1 can offer 10-100 times the performance of existing blockchains, with transaction speeds exceeding 100,000 tps.

Dima Romanov, CEO and co-founder of Layer N, stated, “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.”

The N1 team has secured significant investment from Founders Fund, Multicoin, dao5, Kraken, Amber, GSR, and SALT. Before launching N1, the team developed a high-performance on-chain orderbook on Solana that handled over half a billion dollars in volume.

Also Read: PayPal’s Peter Thiel Warns Society Isn’t Ready for Bitcoin’s Potential

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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