Layer-1 blockchains are often referred to as base-layer protocols as they reside directly above the internet stack layer. L1s are independent, heterogeneous blockchains with their own native tokens. They ensure the base-level functionality of a blockchain such as consensus or finality.
Web 3.0 is built upon a layered stack of interoperable networks. It is difficult to draw clear lines between each layer of the stack as boundaries tend to blur between each layer. However, the model helps to better conceptualize Web 3.0. It also provides points of reference for investment decisions in a highly heterogeneous, fragmented Web 3.0 ecosystem. We borrow heavily from the work of Multicoin Capital and highly recommend reading their comprehensive, in-depth article about 'the Web3 stack'.
