L1 is the new battleground, and the playing field isn’t even

Corporate giants are building their own L1s, shifting blockchain from neutral infrastructure to strategic moats with regulatory advantages.

Opinion by: Ray Song, founder at aPriori

When you’ve been around markets long enough, you start to see patterns. The tools we trade on and the rails we build on are never static. In crypto, one of the biggest shifts happening right now is at the base layer.

For years, the layer 1 conversation was dominated by Ethereum if you wanted composability and a broad developer base, Solana if you wanted speed and Cosmos if you wanted sovereignty. The choice of L1 felt like picking a trading venue, evaluating fees, liquidity and execution. 

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