Assessing the Top-Performing Layer-1 Blockchain Protocols

Assessing the Top-Performing Layer-1 Blockchain Protocols

Crypto technology has made incredible advancements over the past few years, and now the blockchain protocol industry is extremely competitive. As gains have been made with speed, scaling, and power consumption, the promise of Web3 and the growth of a blockchain-based internet are beginning to redefine possibilities in tech.
With Bitcoin, blockchain technology was first introduced as a financial tool for creating and managing cryptocurrency. It quickly evolved into programmable money and smart contracts after the launch of Ethereum. Now blockchain aims to counter the centralization of all databases, storage, and computation to support innovative new dapps and services.
As the industry matures from a predominant focus on financial products to become a revolutionary decentralized technology stack for Web3, a handful of key metrics are useful for comparing and assessing layer-1 competitors: transaction throughput, finality, transaction cost, energy efficiency, and on-chain storage cost.
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