In the fast-moving world of cryptocurrency, layer 1 blockchains — the foundational networks where transactions occur and decentralized applications run — often steal the spotlight. Everyone talks about giants like Ethereum and Bitcoin, but beneath the surface, there are several layer 1 projects quietly advancing with promising technology and unique visions. Many of these remain unnoticed or undervalued by the wider market, offering potentially interesting opportunities for investors and enthusiasts willing to dig deeper.
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So, what really makes a layer 1 project “undervalued”? Typically, it’s about projects that have strong fundamentals, innovative features, and active communities, but haven’t yet hit mainstream awareness or have been overshadowed by hype around bigger players. Here’s a look at some of these intriguing candidates — not financial advice, just some thoughts to spark your curiosity.
1. Fantom (FTM) — Speed with a Twist of DAG
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Fantom is a smart contract platform known for its speed and scalability, thanks to its Directed Acyclic Graph (DAG) consensus mechanism. While Ethereum struggles with high fees and slower confirmations, Fantom offers near-instant finality and low costs, making it attractive for DeFi applications. Despite these benefits, it hasn’t reached the explosive market caps that others enjoy, partly because it lacks the same level of developer mindshare and media buzz. Still, with ongoing partnerships and expanding dApp ecosystems, it’s a project worth following.
2. Near Protocol (NEAR) — Developer-friendly and Scalable
NEAR focuses heavily on a smooth developer experience and usability, aiming to make blockchain accessible to mainstream applications. Its sharding technology allows scalable throughput, and it supports Solidity (Ethereum’s smart contract language), easing migration for developers. While it’s gained traction, it still flies under the radar compared to giants, and its tech roadmap shows promising advancements in speed and interoperability.
3. Harmony (ONE) — Cross-Chain Ambitions
Harmony is working hard to solve cross-chain compatibility, a crucial pain point as the crypto ecosystem fragments across multiple blockchains. Its fast consensus mechanism and low fees address scalability, but what sets it apart is the focus on bridging assets and smart contracts between chains. The market hasn’t fully priced in these cross-chain ambitions yet, which could pay off as the multi-chain future unfolds.
4. Kadena (KDA) — Enterprise-Grade Scalability
Kadena takes a different approach with its hybrid blockchain architecture, combining public blockchain features with private chain capabilities geared towards enterprise use. Its Chainweb consensus promises high throughput without sacrificing security. The project hasn’t quite captured mainstream crypto hype, but its focus on real-world use cases and partnerships suggests a solid foundation for growth.
Why Do Undervalued Layer 1s Matter?
Ethereum’s dominance is undeniable, but its issues with congestion, high gas fees, and environmental concerns keep the door open for alternatives. Such lesser-known layer 1 blockchains often experiment with creative solutions and could fill niches the big players can’t, whether that’s ultra-fast transactions, easy developer onboarding, cost-efficiency, or interoperability.
If you’re a crypto enthusiast who enjoys looking under the hood instead of chasing hype, keeping tabs on these undervalued projects can be both intellectually rewarding and potentially financially advantageous. The key is to do your research and understand the team, tech, and community behind these blockchains — because in crypto, innovation can come from surprising places.
What do you think—are you tracking any under-the-radar layer 1s? Sometimes the quietest players end up making the most noise down the road.
