We researched dozens of Layer One Blockchains to define what makes a blockchain AMERICAN. The results might surprise you. Public Blockchains belong to the world commons. So how do we determine if a blockchain or its associated cryptocurrency is “American?”
The Biggest Factors: Founders, Foundations and Operating Companies
The Founders, Foundation and Operating company of each chain have an outsized impact on the development, deployment, direction and security of that chain while also drawing in significant investment to their local countries and states.
We chose to analyze the residential location of the chain founders, and the incorporation location of its associated for-profit operating companies and non-profit foundations. We call a chain AMERICAN if its founders and all of its associated entities are in the United States. We give extra “ALL AMERICAN” points for founders with Federal Government or Military Service as they would have additional perspective that may be beneficial to Federal and State efforts.
Results: 6 American Layer One Chains and ONE Florida Layer One Chain
We analyzed a total of 45 chains, 42 layer ONE chains and 3 layer TWO chains that are often mistaken for layer one. We found a grand total of 6 American layer one chains and exactly ONE in the great State of Florida – Geode.
There are only SIX fully American layer one chains:
- Geode (GEODE)
- Hedera (HBAR)
- Ripple (XRP)
- Stellar (XLM)
- Aptos (APT)
- Quai Network (QUAI)
With Geode being the only Layer One chain fully based in the State of Florida.
But What About Cardano and Solana?
Cardano and Solana are often touted as American chains and therefore American cryptos, but they are not. While their founders are living in the US, Solana’s Foundation is foreign (Switzerland) and both Cardano’s Foundation and operating companies are foreign (Switzerland, Hong Kong and Japan). That makes these particular layer one chains foreign-run and not fully American. We see them here in the Partially Foreign category where we give them a little credit for having founders living in the US.
But What About Miami?
While there is a lot of crypto activity in Miami, it may be comprised more of ERC-20 coins on Ethereum (a foreign chain), various dApps on foreign chains, meme coins on foreign chains and maybe a few layer 2-3 chains? We are planning more research there to see what is going on there.
Dig Deeper – Download The Spreadsheet
Download the PDF spreadsheet with all the chains and analysis. We will continue to update this research as new information comes in. Contact us if you want updated copies as they are available.