- N1 blockchain confirms the commitment of original investors of 01 to its platform.
- The investors include top VC firm Multicoin Capital and angel investor Arthur Hayes.
- N1 also unveiled several new features ahead of its mainnet launch.
Announced this week, N1, a Layer 1 blockchain that provides developers with unrestricted scale and ultra-low latency DApp platform, announced the renewed commitment of its original investors. According to the team statement, original investors of the now-closed 01, the predecessor of N1, including Multicoin Capital and Arthur Hayes will continue to support the development and growth of the blockchain. The reaffirmation comes in light of the upcoming mainnet launch, expected in the coming months.
The Founders Fund-led blockchain is purpose-built to help reduce the time to market for blockchain decentralized apps (DApps), by offering horizontal scalability, sub-ms latency, and ultra-high throughput. Notwithstanding, the Layer 1 blockchain also allows users to build using multiple coding languages to reduce the time spent learning a new language for developers.
The original investors have been added to N1’s revised cap table and will support the launch of the Layer 1 blockchain designed to serve as a full-stack ecosystem for high-throughput DApps.
‘Build In Seconds Not Years’
One of the leading goals for the blockchain is to enable developers to reduce their building time drastically, hence the mantra “Build in seconds, not years”. N1 ensures this by eliminating the trade-offs between on-chain and off-chain development, removing limits on compute and latency entirely. As alluded to, the blockchain also supports multiple mainstream programming languages such as Typescript, Python and C, making it significantly easier for developers to build sophisticated applications that can scale without compromise.
The switch to N1 was announced in late 2024, as the team looked to move from 01, a high-performance Ethereum Layer 2 solution, to N1, a fully-fledged Layer 1 blockchain. However, the new blockchain draws upon features and upgrades made in the development of 01, making it a more robust Layer 1, hence the continued support from their original investors.
Notwithstanding, the blockchain is designed to be radically different from post-Ethereum smart contract chains, aiming to supercharge app development and encourage the growth of next-generation DApps. The ultimate goal is to facilitate blockchain development by enabling developers to build and deploy applications in their preferred programming language, thereby eliminating the barriers that have hindered blockchain adoption. This approach aims to make blockchain development feel indistinguishable from traditional software development by supporting all code on-chain.
N1 also offers distinct settlement and execution layers that enhance efficiency as well as a consensus-less design that achieves quorum while maintaining high levels of security. As such each app on the platform operates in its own isolated environment, resulting in zero state congestion. This enables the app developers to create DApps with their preferred language and easily scale vertically.
Unveiling New Features and Upgrades
In addition to securing the support of the investors, N1 also unveiled several features that improve the efficiency of the blockchain. First, the NTS, a Typescript smart contracts application development environment, is open to early-access developers. Through NTS users can build powerful, feature-rich applications on a developer-friendly platform. The early access developers are already building on the platform, pushing the boundaries of what can be done in a fully decentralized environment.
Secondly, N1 has also unveiled the NordVM, a Rust-based exchange-specific framework designed to make on-chain order books as performant and feature-rich as centralized exchanges. The platform is fully interoperable with all apps and the orderbooks maintain composability with other apps in N1.
One of the biggest features unveiled is the N1 Studios, a product studio dedicated to incubating and supporting the next generation of on-chain applications. The N1 founders, having previously built an app themselves, understand that applications are the key to blockchain success. Instead of waiting for an ecosystem to emerge, they are taking an active role in leading the way. The studios will also serve as an incubator that mentors, funds, and launches high-impact applications during the testing period.
Finally, N1 also announced the upcoming NX platform that offers a Virtual Machine (VM) Agnostic framework that allows developers to build apps in any language (from Python to C to Rust), and with any VM.