#BinanceHODLerPLUME Done ✅, here is a summary that includes a comparison of the six Layer 1 networks:
The prominent Layer 1 networks in blockchain include Cardano (ADA), Toncoin (TON), Avalanche (AVAX), Solana (SOL), Tron (TRX), and Ethereum (ETH). All are decentralized networks that support transactions and the operation of decentralized applications (dApps), but they differ in consensus mechanisms and uses.
ADA relies on proof of stake and is characterized by security and sustainability.
TON is fast and associated with Telegram.
AVAX offers high speed, low fees, and flexibility in DeFi.
SOL focuses on speed and supports applications and NFTs.
TRX specializes in gaming and digital content and uses delegated proof of stake.
ETH is a pioneer in smart contracts and DeFi after transitioning to proof of stake.
Each network has strengths and challenges, such as transaction fees, technical updates, or legal issues, which makes the choice of network depend on the purpose and intended use.