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Solana Tops Weekly DApp Revenue and DEX Volume Among L1 and L2 Chains

Blockchain network Solana maintained its lead in weekly decentralized application revenue and decentralized exchange activity compared to other Layer 1 and Layer 2 chains.

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Terms & Concepts
  • Layer 1 (L1) blockchain: A base network such as Solana or Ethereum, which operates independently and processes transactions directly on its own chain.
  • Layer 2 (L2) blockchain: A secondary protocol built on top of an existing Layer 1 blockchain to improve scalability and transaction speed.
  • Decentralized Exchange (DEX): A blockchain-based platform where users trade cryptocurrencies directly without intermediaries, using smart contracts.