Definition: A consensus mechanism where miners solve complex puzzles using computing power and energy to validate transactions. Example: Bitcoin relies on PoW to keep its blockchain secure.

Definition: A consensus mechanism where validators lock up coins as collateral to confirm transactions. Example: Ethereum’s shift to PoS reduced its energy use dramatically compared to PoW.

Definition: A cryptographic code used as a wallet’s public address, visible to others for receiving funds. Example: Sharing your Ethereum address so someone can send you ETH.

Definition: A secret cryptographic code that proves ownership of a wallet and grants control of funds. Example: If someone gets access to your private key, they can move your crypto.

Definition: A tool (software, hardware, or paper) that stores your keys and allows you to send/receive crypto. Example: MetaMask is a software wallet; Ledger is a hardware wallet.

Definition: A cryptocurrency that is native to its own blockchain. Example: BTC (Bitcoin) and ETH (Ethereum) are coins.

Definition: A digital asset built on an existing blockchain, not native to it. Example: USDT is an ERC-20 token that runs on Ethereum.

Definition: A record system where once data is written, it cannot be changed or erased. Example: A confirmed Bitcoin transaction can never be reversed or altered.

How venues, liquidity, and pricing mechanisms are organized in a market. Example: Crypto’s market structure combines CEXs, DEXs, and cross-chain venues.

Any platform or environment where trades can be executed. Example: A CEX, a DEX, or a Layer-2 swap interface is a trading venue.

A custodial platform that holds user funds and matches orders via an order book. Example: You deposit funds into a CEX account before trading.

A non-custodial exchange where trades happen directly from wallets through smart contracts. Example: Swapping tokens on Uniswap from your own wallet.