#slf

SLF (Layer 1) projects are networks that act as a foundational layer in the blockchain infrastructure. These projects represent the first layer that provides the security, decentralization, and basic functionality of the network. Layer 1 blockchains are seen in large networks such as Bitcoin and Ethereum and are responsible for transaction validation, block generation, and all transactions on the network. The biggest problems faced by Layer 1 projects are usually scalability and transaction speed.

As the number of people using the network increases, the transaction density increases, which can lead to longer transaction times and higher transaction fees. Layer 1 projects use a few different methods to address these problems:

Increasing the block size: This allows more transactions to be made in a block, but can compromise decentralization.

Changing consensus algorithms: Moving from Proof of Work to Proof of Stake can make the network more efficient.

Sharding: It allows multiple transactions to be made at the same time by dividing the blockchain into pieces, which can increase transaction speeds.

Layer 1, unlike Layer 2, is directly at the foundation of the network and carries out basic transactions, while Layer 2 tries to increase scalability by supporting this network. For example, Layer 2 solutions such as the Bitcoin Lightning Network aim to speed up transactions performed on Layer 1.

Binace currently offers a 19% stake chance on locked products (earn) for slf. What do you think about this issue? Can (slf) be accumulated?