- Layer 1 blockchains often have large war chests from token sales and are capable of raising large funding rounds to compete with Ethereum, the de facto smart contract platform today.
- Still, catching up with existing tooling is difficult. The key infrastructure pieces being block explorers, wallets, developer tools, as well as existing (tested) smart contract code.
- Layer 1s are capable of attracting users via token incentives, but differentiation is getting smaller as Rollups improve Ethereum’s scalability.
News Source from TheBlockCrypto.com