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Forward-thinking developers use .xyz domains to build blockchain platforms and services. Digital securities platform Axiology.xyz supports issuance, custody, trading, and settlement under an EU regulatory framework. Stripe-acquired payment platform Bridge.xyz, built by former Coinbase leaders, supports stablecoin payments. In this week’s #BlockchainThursday, we’ll introduce you to a Layer 1 blockchain designed for scalable applications and onchain financial infrastructure: N1.xyz.
N1.xyz presents a Layer 1 blockchain focused on application scalability and performance
N1.xyz is the online home of N1, a Layer 1 blockchain designed for application scalability and high-performance financial use cases. The project was originally developed under the name Layer N, a scaling network focused on financial applications. According to the website, the network is built with a focus on horizontal scalability, app-specific execution environments, and execution-environment flexibility, allowing developers to deploy applications using multiple programming languages. N1.xyz states that N1 is designed to support high-throughput applications with features such as sharded data availability, native bridging, and low-latency execution. In September 2023, Fortune reported that Layer N raised a $5M seed round co-led by Founders Fund (a venture firm founded by PayPal co-founder Peter Thiel) and dao5, with participation from Kraken Ventures, Mirana.xyz, GSR, and Amber Group.1 In April 2024, the project launched a liquidity program backed by a $20M commitment from Amber Group to support early-stage financial applications. In December 2024, it was reported that Layer N rebranded to N1 and shifted from a scaling network to a standalone Layer 1 blockchain focused on performance and application design.2
N1’s approach to blockchain infrastructure
According to N1.xyz, the network is structured to separate settlement and execution, with applications operating in independent environments rather than sharing global compute. The website states that this design removes shared state congestion and allows each application to scale based on its own resource needs. N1.xyz describes its execution layer as environment-agnostic, which can help developers build using languages such as Typescript alongside other supported languages. The platform positions itself within the blockchain landscape as a system designed for high-performance applications, particularly in areas such as trading, where latency and throughput are critical. According to N1.xyz, applications can reach high transaction throughput individually, rather than competing for shared network capacity. The website also highlights features such as native asset bridging and wallet abstraction, which are presented as part of the broader effort to support application design and user interaction.
Leadership with backgrounds in finance and blockchain development
Dima Romanov is the co-founder and CEO of N1, and has been leading the project since its earlier phase as Layer N. As reported by The Block in September 2023, the project is designed to scale financial applications on blockchain infrastructure. The Block report also notes that the project shifted direction following the collapse of FTX and moved to build on Ethereum before later evolving into N1.3 David Cao is also listed as a co-founder and has described his work as focused on building infrastructure for financial applications and onchain systems. According to LinkedIn, both founders have backgrounds in finance and technology, with experience spanning institutional finance and blockchain development.
The evolution to N1.xyz: A domain upgrade aligned with blockchain and emerging technology
N1 transitioned its primary domain from LayerN.com to the more concise N1.xyz following its rebrand. .XYZ is widely used by startups, investors, and builders across blockchain and emerging technologies. N1.xyz serves as the central hub for network information, bringing together documentation, product updates, and announcements in one place. You can learn more by following the platform on Telegram, X/Twitter, and LinkedIn @n1xyz, joining the Discord, and visiting N1.xyz.
1. https://fortune.com/crypto/2023/09/13/peter-thiel-founders-fund-crypto-layer-n-defi-ethereum/
2. https://www.rootdata.com/news/261364
3. https://www.theblock.co/post/250785/ethereum-layer-n-founders-fund-peter-thiel
The post Founders Fund-backed blockchain platform N1.xyz supports high-throughput applications and financial use cases first appeared on .xyz Domain Names | Join Generation XYZ.
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