Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum

A Chainalysis report analyzes the layer-1 blockchain ecosystem, questioning if alternative L1s will continue to challenge Ethereum this crypto winter.

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to raise awareness for the current L1 ecosystem:

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