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L1 / L2

L1 is a base blockchain (Bitcoin, Ethereum). L2 is a layer on top of it that makes transactions faster and cheaper.

Category: Blockchain

Related terms

Blockchain

A public, shared database of transactions that nobody owns. Records are chained and immutable, verified by a network of computers, not one central authority.

Gas fee

A fee paid to the network to execute a transaction or contract. It fluctuates with network congestion.

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