Ethereum L1

Ethereum L1, or Ethereum Layer 1, refers to the base layer of the Ethereum blockchain network, which is responsible for processing and validating all transactions and smart contracts directly on its chain. As the original and foundational layer, Ethereum L1 has been instrumental in pioneering decentralized applications (dApps) and enabling the creation of tokens through its ERC-20 standard. However, it has faced challenges such as scalability and high gas fees during peak activity, leading to the exploration and development of Layer 2 solutions to enhance its performance.