Back

Solana Leads All Layer 1 and Layer 2 Chains in DApp Revenue and DEX Volume

The blockchain maintains the top position among L1 and L2 networks for daily decentralized application revenue and decentralized exchange trading volume.

SOL

Summary

No Summary provided as the original text is short

Terms & Concepts
  • Layer 1 (L1) Blockchain: A base-level blockchain protocol, such as Solana or Ethereum, that processes and finalizes transactions without relying on another network.
  • Layer 2 (L2) Network: A secondary protocol built on top of a Layer 1 blockchain to improve scalability and reduce transaction costs.
  • DEX (Decentralized Exchange): A platform that enables peer-to-peer cryptocurrency trading without intermediaries, operating via smart contracts on blockchain networks.