NEM's march towards the Defi Movement - Glossary Task

Layer 1 Blockchain

Layer 1 Blockchain is a protocol that regulates block creation and verification by a consensus algorithm.

Typical examples are PoW and PoS.

A typical PoW is highly decentralized and secure at the expense of scalability.

There are risks such as scalability problems.

PoS is highly scalable at the expense of dispersibility.

There are other algorithms, and you can choose which one to use depending on the function you specialize in.

It is also a phase that has a significant impact on the final product.