An L1 smart contract is a self-executing agreement stored and run directly on the main blockchain, also known as the Layer 1 or base layer. These contracts operate with the full security and decentralization properties of the underlying blockchain network. They serve as fundamental building blocks for decentralized applications and define the logic for digital asset interactions. L1 contracts are foundational to the ecosystem.
Context
L1 smart contracts form the foundation for a vast array of decentralized applications, ranging from DeFi protocols to NFT marketplaces. News frequently reports on new smart contract deployments, security audits, and protocol upgrades on major Layer 1 networks. The efficiency and security of L1 smart contracts are paramount for the entire digital asset ecosystem’s stability and functionality.
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