In this series, we will be taking an in-depth look at the various components and features of the Metal Blockchain. We will explain the Layer 0 concept, explore the history of consensus mechanisms and why the Metal Blockchain employs Avalanche protocols as the latest advancement in consensus technology.
We’ll also take an in-depth look at the flow of a single blockchain on the Metal Blockchain, the underlying components, such as the Virtual Machine, Subnets, and the $METAL token, including its tokenomics, fee burns, fee schedule, and staking rewards. This series aims to provide a comprehensive understanding of the Metal Blockchain for both experienced and new users. Join us as we delve into the technical details and discover the unique advantages of the Metal Blockchain.
Subnets: designed for scalability
Decentralized independent governance model
In the first article of our deep dive series, we will delve into the concept of a Layer 0 Blockchain. The Metal Blockchain is a Layer 0 Blockchain, but what exactly does that mean?
As you delve deeper into the world of cryptocurrencies and blockchains, you may have come across the term "Layer 0 Blockchain" as well as the other layers (1, 2, and 3) used to describe the different technologies within the blockchain space.
So, let's peel back the layers and take a closer look at the different levels of technology that make up the blockchain.
What is a Layer 1 Blockchain?
A layer 1 blockchain provides the core features and functionality of a blockchain, such as the ability to create and transfer assets, execute smart contracts, and maintain a decentralized ledger. Some examples of layer 1 blockchains include Bitcoin, Ethereum, and Proton. These platforms provide the core features and functionality that are needed to support the operation of a blockchain. Layer 1 blockchains are an important part of the blockchain ecosystem, and they play a crucial role in enabling the development and deployment of decentralized applications (dApps) and other services on the network.
What is a Layer 2 Blockchain?
A layer 2 blockchain is a blockchain protocol that is built on top of a layer 1 blockchain. It is designed to improve the scalability, security, and performance of the layer 1 blockchain by offloading some of the workload from the layer 1 chain to the layer 2 chain. This can help to reduce congestion on the layer 1 chain and improve its overall performance.
Some examples of layer 2 protocols include the Lightning Network for Bitcoin and the Plasma and Truebit protocols for Ethereum. These protocols are built on top of the layer 1 blockchain, and they provide additional features and functionality that are not available on the layer 1 chain. For example, the Lightning Network allows for faster and cheaper transactions on the Bitcoin network, and the Plasma and Truebit protocols enable complex and highly scalable dApps to be built on the Ethereum network.
What is a Layer 3 Blockchain?
A layer 3 blockchain is a blockchain protocol that is built on top of a layer 2 blockchain. It is designed to improve the scalability, security, and performance of the layer 2 blockchain by offloading some of the workload from the layer 2 chain to the layer 3 chain. This can help to reduce congestion on the layer 2 chain and improve its overall performance.
Layer 3 blockchains are typically used for specific and highly specialized applications, such as decentralized finance (DeFi) or gaming. They provide a more flexible and customizable way to build and deploy dApps and other services on a blockchain, allowing developers to create highly specialized and tailored solutions for their specific needs.
Some examples of layer 3 protocols include the Loopring protocol for Ethereum and the Cosmos Hub for the Tendermint blockchain. These protocols are built on top of the layer 2 blockchain, and they provide additional features and functionality that are not available on the layer 2 chain.
For example, the Loopring protocol enables highly scalable and efficient DeFi applications to be built on the Ethereum network, and the Cosmos Hub provides a way to connect and interoperate with other Tendermint-based blockchain networks.
What exactly is a Layer 0 Blockchain?
A layer zero blockchain is the underlying infrastructure of a blockchain network, comprising protocols, connections, hardware, validators, and other components that make up the backbone of the blockchain ecosystem. This layer provides the necessary services and infrastructure to support the operation of the blockchain, and it plays a crucial role in enabling the platform to achieve its high scalability, security, and decentralization.
Layer 1 blockchains, like Bitcoin, Ethereum, Proton, and others, enable decentralized applications (DApps) and tokens such as Uniswap, Aave, and Axis Infinity to be built on top of them.
Layer 0 blockchains, on the other hand, allow Dapps, tokens and in addition allow entire blockchains to be built on top of them, enabling better cross-chain interoperability thanks to their common underlying layer.
Think of it this way: DApps are like the buildings that everyone visits, Layer 1 blockchains are the plots of land on which they are built, and Layer 0 blockchains are the road networks that connect each land parcel to the next. In other words, Layer 0 blockchains provide the infrastructure and services that are needed to support the operation of a blockchain ecosystem.
What problems do layer zero blockchains solve?
When Layer 1 blockchains were created, they did not anticipate the high demand for block space that has emerged with the boom in DeFi, NFTs and other DApps. As more and more people start using these DApps, the resources of a blockchain can become stretched, leading to high transaction fees and other scalability issues. Layer 0 protocols can help to solve these problems by providing the necessary infrastructure and services to support the operation of a blockchain ecosystem.
In addition to solving scalability issues, Layer 0 protocols also improve the usability of a blockchain platform. Developers on Layer 1 protocols often have to compromise on the design and efficiency of their dApps because the Layer 1 protocol is typically optimized for general use cases rather than the developer's specific use case.
This can be frustrating for developers, and it can limit the potential of a blockchain platform. Layer 0 protocols, on the other hand, enable developers to build blockchains to their precise specifications, giving them more control over the design and functionality of their dApps.
Finally, Layer 0 protocols also give developers more control over the operation of their dApps. On a Layer 1 protocol, the DApps built on top of it are subject to the rules and governance of the Layer 1 protocol. This means that if a bug exists in the Layer 1 protocol, the DApps built on top of it are also affected.
This creates a risk factor for developers, who have no control over the underlying protocol. With Layer 0 protocols, however, developers have more control over the operation of their DApps, and they can respond more quickly to any issues that may arise.
The Layer 0 of the Metal Blockchain
Specifically to Metal Blockchain, the underlying layer includes a number of key components, such as the peer-to-peer network, the Virtual Machine (VM), the consensus protocol, and the subnet architecture. The peer-to-peer network is the communication layer that connects the nodes on the Metal Blockchain platform, allowing them to exchange messages and data.
The Virtual Machine (VM) is the execution engine that runs smart contracts and other code on the network. The consensus protocol is the mechanism that ensures the security and integrity of the network. And the subnet architecture is the structure that divides the network into multiple subnets that can operate independently and in parallel.
Together, these components form the backbone of the Metal Blockchain platform, and they provide the necessary infrastructure and services to support the platform's features and functionality. The layer zero is essential to the operation of the Metal Blockchain platform, and it plays a crucial role in enabling the platform to achieve its high scalability, security, and decentralization.
In the upcoming article, we will delve deeper into the workings of a single blockchain on the Metal Blockchain and its underlying components.
