Zucoins is a peer-to-peer cryptocurrency that is the native exchange token on the SplitChain network, a ground-up layer-1 network.
A layer-1 network is the base layer of a network. A layer-1 network can validate and execute transactions without the support from another network.
All cryptocurrencies are either the native cryptocurrency to a layer-1 network or are a cryptocurrency utilising an established layer-1 network.
An example of a layer-1 network is Ethereum. Ethereum has its own native cryptocurrency, Ether.