PANews reported on December 6 that Layer N, a blockchain technology company backed by Peter Thiel, announced that it would change its name to "N1" and fully shift to developing a new generation of proprietary blockchain technology. It is reported that the N1 blockchain aims to achieve "ultra-fast" transaction speeds, support 100,000 TPS (transactions per second) and multiple traditional programming languages such as Typescript, Rust and C, and focus on promoting the development of next-generation blockchain applications.

N1 also announced partnerships with Sushi and Amber Group, and is developing several innovative projects, including the SocialFi app Mindshare and an “on-chain AI simulation inspired by Westworld.”