Crypto Wiki

Layer-2 refers to a secondary framework or protocol built on top of an existing Layer-1 blockchain to enhance its scalability, speed, and efficiency. 

Network fees, also known as gas fees, are payments made by users to compensate miners or validators for processing and verifying transactions on a blockchain network.

A mainnet is the fully operational version of a blockchain network where actual transactions and applications occur. 

LP Tokens, or Liquidity Provider Tokens, are tokens issued to users who provide liquidity to decentralized exchanges (DEXs) like Uniswap or PancakeSwap.

A node is any device (computer, server, or phone) connected to a blockchain network that helps maintain the network by validating, storing, and broadcasting transactions.

Network congestion occurs when a blockchain network becomes overloaded with transactions, leading to slow processing times and higher transaction fees.

LooksRare is a decentralized NFT marketplace that launched in early 2022 as a competitor to OpenSea.

A mempool (memory pool) is a collection of unconfirmed transactions on a blockchain that are waiting to be processed and added to a block by miners or validators. 

Layer-1 refers to the base or foundational blockchain layer in a network architecture. In blockchain technology, Layer-1 refers to the core chain or protocol on which other solutions and applications are built. 

A launchpad in the crypto world is a platform that helps new blockchain projects raise capital by offering early access to their tokens through methods like Initial Coin Offerings (ICOs), Initial DEX Offerings (IDOs), or Initial Game Offerings (IGOs).