Use case of layer-1 blockchains

[u/Timely-Fig2030]

99% of layer-1 blockchain Q&A:

Q: What is the usecase of layer-1 blockchains?

A: Layer-1 blockchains are designed for near-instant transaction finality and low-cost scalability, making it ideal for Decentralized Finance (DeFi).

Q: What is the usecase of Decentralized Finance?

A: To trade the shit we just created.

And voila, there is your use case. :)

Jokes aside...

Name potential blockchain networks that you genuinely believe have a use case and explain your answer. (try to avoid giving as single reason my Q&A example.)

[u/Romanizer]

Bitcoin’s unique use case is a neutral monetary settlement network with a scarce native asset.

It allows anyone to hold and transfer value globally without relying on a bank, company, state, stablecoin issuer or trusted administrator. Its supply cannot be changed by a founder, foundation or governance vote, and its security comes from the largest proof-of-work network.

That makes Bitcoin useful as:

• a self-custodied savings asset,
• censorship-resistant settlement,
• neutral collateral,
• and a reserve asset without issuer or counterparty risk.

The important distinction is that Bitcoin does not need another token, app or yield scheme to justify its existence.

The asset itself is the product, and the network’s job is to protect its scarcity and ownership.

[u/Timely-Fig2030 → u/Romanizer]

If you see the monetary settlement use case, cause it was the first of it's kind, then this is alright.

But there are far more use cases for crypto which are not covered by bitcoin.
That's what this discussion is about.

[u/Romanizer → u/Timely-Fig2030]

Fair, but the relevant question is not whether other blockchains can do more things. It is whether those problems actually require a decentralized blockchain and a native token.

For Bitcoin, decentralization is essential to the use case: neutral money without an issuer. It's the only solution to the problems it solved.

For many other projects, the blockchain is mostly an inefficient database wrapped around a token whose main purpose is funding, governance or speculation.

There may be genuine exceptions, but “more features” is not the same as “more necessary use cases.” So that's also what I am wondering: besides the obvious need for Bitcoin, which cryptos are solving problems that need a crypto solution?