Layer by Layer Issue 14: Polkadot, Avalanche, Fantom, and Tezos

Throughout this year, Layer 1 blockchains and their ecosystems have evolved into an increasingly interconnected global network that currently makes up the multi-chain crypto landscape. Over time, the original visions and prevailing narratives for individual blockchains have shifted, sometimes blurring the differences between ecosystems and sometimes highlighting the unique strengths of particular blockchains. 

For instance, the idea of Bitcoin as a global digital currency intended to replace fiat popular in years past has since been largely replaced by the narrative of Bitcoin as a store of value, particularly in today’s inflationary environment. The rise of stablecoins and their use throughout DeFi protocols have especially highlighted the advantages of using dollar-pegged digital currencies on smart contract platforms to transfer value, as opposed to native BTC on the Bitcoin network.