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Solana DApps Generate Over $200 Million in August, Lead 30-Day Revenue

According to the update, Solana decentralized applications generated over $200 million in August revenue, surpassing all Layer 1 and Layer 2 DApps on a 30-day basis.

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Summary

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Terms & Concepts
  • DApp (Decentralized Application): An application that runs on a blockchain network, using smart contracts to operate without centralized control.
  • Layer 1 (L1): The base blockchain protocol (e.g., Solana) that processes and finalizes transactions directly on its main chain.
  • Layer 2 (L2): A secondary protocol built atop a Layer 1 chain to improve scalability and reduce costs, settling transactions back to the base layer.