Final answer:
The difference between L3 and L1 cache is that L1 is smaller but faster and closer to the CPU, while L3 is larger, slightly slower, and is shared across multiple cores.
Step-by-step explanation:
One difference between level 3 cache (L3 cache) and level 1 cache (L1 cache) is their size and proximity to the CPU core. Typically, the L1 cache is smaller but faster, residing very close to CPU cores, providing the quickest access to the most frequently needed data. On the other hand, the L3 cache is larger and slightly slower, designed to back up the L1 and L2 caches, and is shared across cores on a multi-core processor.