A network topology that connects all nodes to a common central hub is known as a star topology. In this configuration, each node is directly connected to the hub, allowing for efficient communication. The central hub manages data transmissions between nodes, which facilitates easier troubleshooting. However, if the central hub fails, it can bring the entire network down. This topology is widely used in local area networks (LANs) for its simplicity and effectiveness in managing connections and data flow.