A Report On The Layer1 As It Thrives In The Age Of The Crypto Crash
Layer 1 succeeds where others fail. Accountable for a stable ecosystem learn all about it. There is more to know.
The Age Of Crypto Crash And Layer 1
In this age, it is found that crypto was reaching the ever-new highs, as they were talking about whether ICOs could, therefore, supplant the VC funding round warning about Kim Jong Un’s crypto trading operations. Thereafter the world turned upside down.
Down from their highs earlier this year of around $ 16,600 and $ 1,400 the Bitcoin was hanging around $ 4,000 and Ethereum around $113 as the crypto prices are near rock-bottom prices.
This has thereby put a dampener on the enthusiasm of a lot of cryptocurrency retail investors where the bigger question comes to be how do the institutional players thereby work through this market and what is the strategy to find the value in the technology sector long term?
On a chat with Alexander Liegl as they just have at least part of the answer, the founder of Layer1 announced a $ 2.1 million fundraise from Peter Theil, the Digital Currency Group, and Jeffrey Tarrant.
As Leigl came to see a huge challenge in the blockchain and cryptocurrency spaces, there were too many good ideas and not enough developers working on product development work deciding to create an activist fund for cryptocurrencies taking concentrated bets on protocols as they think they need in the world. Thereby the Layer1 supplies developers as well as experts to provide the infrastructure and support he explained while the operating entity can have a lot of influence in moving the needle where he describes Layer1 to be a combination of Polychain and Blockstreet and the Rocket Internet of crypto.
Here Is Why Layer 1 Is A Success
It has therefore vaguely sounded similar to ConsenSys is the loosely coupled group of start-ups and the infrastructure engineers trying to build out Ethereum that has run into very hard ties recently whereas unlike ConsenSys it was founded by Ethereum co-founder Joe Lubin directly focused on the ecosystem as Layer1 is wedded to one blockchain or ecosystem and instead of that selects the single project at the time through a mix of financial analysis and thesis development.
Layer 1 has backed Grin as the first cryptocurrency with the capital in the bank whereas Grin is designed to be the completely private and censorship-resistant transactions medium where Liegl says it conceptually reconciles with their view in the space as he particularly liked that Grin has an anonymous founder like Bitcoin where no founder controls the governance of the project and Grin is intending to publicly launch later on.
Asking Liegl on how he was responding to the crypto crunch in the markets, he considered it to be far more of an opportunity than a detriment to the work as he explains he is pumped about all of this with a lot of the bad actors having been flushed out. Later on, he noted that the low of the bear market may not be reached yet whereas the Layer1 was still in good position taking advantage of the timing raising the newest dollars as they are not suffering from any of the ICO- induced problems.
As he graduated from Stanford thereafter Liegl had briefly worked at Stanford’s endowment and it was there he has certainly seen the vagaries of the cryptocurrency markets and learning about Bitcoin during its first popular run-up even by convincing parents to invest in the budding project.
With his eyes set on Grin, he has additional projects and thinks Layer 1 will invest in the new project roughly every six to nine months accelerating over time with additional capital.
In the case where these platform models have been struggling a bit in the venture world, they think it is reasonable that the blockchain projects most often suffering from the lack of attention from developers and the end uses can also use a strong engineering and popularisation boost. While Layer 1 isn’t the first in the blockchain world to take this approach, therefore they are sure it will be the last and might be just the ticket forward for the world that has struggled to pay the employees and bills in a crash.
The Final Words Before Closing Down
Here we complete a talk on the exchanges and blockchain projects being founded daily by the developer's intent on the technology. We are at the helm of the developing technology that has brought the public to a mode of investment quite unlike the ones before. While Layer 1 promises a lot, there are even more of them quite similar to the ones already in the crypto market. So, stay tuned and watch for more from us. We know you will be quite interested.