L1s

L1s, or Layer 1 blockchains, refer to the foundational blockchains that operate on their own native protocols without relying on other layers for their functionality. Examples include Bitcoin and Ethereum, which manage their own transaction processing and security directly on the blockchain. L1s are crucial to the cryptocurrency ecosystem as they provide the base layer where decentralized applications (dApps) and various financial transactions can occur, and they serve as the primary infrastructure for user interactions in the crypto space.