Layer 1 Blockchain
Layer 1 Blockchain.
In fact, if you think logically, you should understand that if there is 1, it is probably because there are two or more.
Therefore, we will consider the concept of layer 1 Blockchain together with the concept of layer 2.
Layer 1 Blockchain is the term that’s used to describe the underlying main blockchain architecture.
Layer 2, is an overlaying network that lies on top of the underlying blockchain.
NEM recently announced a partnership with StakeHound. The essence of the partnership is that XEM holders have the opportunity to participate in the DeFi ecosystem of Ethereum. To do this, StakeHound has created a layer - 2 solution that allows you to transfer your XEM to the Ethereum blockchain, receiving native ERC20 tokens called StakedXEM in return.
In this example, Ethereum is the layer-1 blockchain, while the StakedXEM is layer-2.