There are several common network topologies for LANs and WANs. Common LAN topologies include bus, star, ring, switched, daisy chain, and hierarchical topologies. Bus topology is easy to implement but has limited cable length. Star topology is easy to manage and scale but a failure of the central device takes down the whole network. Ring topology provides better performance than bus but a single failure affects the whole network. WAN topologies include peer-to-peer, ring, star, full mesh, partial mesh, multi-tiered, and hybrid configurations with different tradeoffs around cost, performance, redundancy, and scalability.