Layer 1 Protocols Report Introduction The Decentralized Finance market grew by 47% in 2021 to a value of USD 106 billion. VC’s deployed USD 30 billion globally into the cryptocurrency space in 2021 and NFT sales grew 250 times to a volume of USD 24.9 billion. All of this was made possible by blockchains. In this article we will go over what a layer 1 blockchain is, what the characteristic properties of a blockchain are, why there are multiple layer 1 blockchains and then go over the unique aspec