When an ETF or trust trades above the value of its holdings, as GBTC did for years.

How much a trade itself moves the mid price, separate from the standing spread.

A feed that tells contracts the reference price of an asset. Bad oracles cause bad liquidations.

The ability to inspect original records, identify what they actually establish, and distinguish evidence from interpretation or promotion.

A firm that packages custody, leverage, settlement, and OTC for funds so they do not juggle ten exchange logins.

A conflict that can arise when a delegate has different incentives or information from the party on whose behalf it acts.

Extra fees to land transactions faster during congestion on Solana or Ethereum.

Privacy is a market sector used to group crypto assets with similar use or design.

Privacy Blockchain is a market sector used to group crypto assets with similar use or design.

Privacy Coins is a market sector used to group crypto assets with similar use or design.

Privacy Infrastructure is a market sector used to group crypto assets with similar use or design.

A privacy protocol that can prove a withdrawal belongs to a selected set of deposits without publicly identifying the specific deposit.

On-chain exposure to loans or credit funds. Cash flows and defaults still depend on off-chain servicing and legal enforceability.

A secret number that authorizes spends. If it leaks, the address is compromised.

Ironic understatement used when something is obviously a big deal.

The ability to attach conditions to money, the core commercial pitch of smart-contract payments.

A BIS-led exploration of cross-border payments using tokenized commercial-bank deposits and central-bank money on a shared programmable platform.

A BIS Innovation Hub experiment on a shared platform for cross-border settlement using multiple central-bank digital currencies.

A multi-CBDC cross-border payment project developed with central-bank partners; the BIS announced its handover to those partners in October 2024.

A BIS initiative to connect domestic instant payment systems through a standardized model for cross-border payments.

Consensus run by a known, permissioned set of validators. Fast, centralized, common on sidechains.

Solana's verifiable delay function that timestamps events so validators can order them with less chatter.

A cryptographic demonstration about a committed set of obligations, often allowing customers to verify inclusion of their balances; its assurance depends on completeness, valuation and the surrounding accounting process.

A scheme to show a wallet is one human, used to fight airdrop farming and bots.

Evidence about a custodian's reserve assets at a specified time and within a stated scope; it does not alone establish full solvency.

A cryptographic storage-auditing protocol whose security definition connects a prover's ability to answer challenges with the ability to recover the stored data.

Ambition to prove assets exceed liabilities in real time. Still rare in full form at large CEXes.

Consensus where validators lock tokens as collateral to propose and attest blocks. Used by Ethereum.

Proof of Stake (PoS) is a market sector used to group crypto assets with similar use or design.

Consensus where miners expend computation to propose blocks. Used by Bitcoin.

Proof of Work (PoW) is a market sector used to group crypto assets with similar use or design.

The validator chosen to build the next block in a given slot.

A structured checklist: audits, multisig, timelock, oracles, and admin powers.

When the protocol owns the LP position and keeps fees, reducing mercenary TVL churn.

Liquidity the protocol itself owns, so it keeps the trading fees instead of renting depth from mercenary LPs.

The service that builds validity proofs for a ZK rollup or zkVM.

The key that can replace a contract's implementation. A centralized upgrade path.

Partially Signed Bitcoin Transaction. A wallet-exchange format for hardware signers and multisig.

Building a Bitcoin transaction on a hot machine and signing it on cold hardware.

A Maker-style module that swaps a trusted stablecoin 1:1 for Dai/USDS to defend the peg.

An experimental model in which participants choose contributions to a shared benefit, used to study cooperation and free riding.

The counterpart to a private key. Addresses are usually a hashed or encoded form of the public key.

A liquid restaking protocol with anti-slashing design for home operators.

The payee debits the payer under a mandate, as with many card and ACH debit flows.

A coordinated hype cycle that lifts a thin token so insiders can sell into the rush.

A Solana launchpad that lets anyone spin up a bonding-curve memecoin and graduate it to a DEX pool.

PumpSwap is a Dexs protocol active on Solana. The native dex for pump.fun

The payer initiates the credit transfer. Cards are often pull-based by contrast.

Payment versus payment. Synchronized exchange of two currencies or cash tokens.

A high-frequency oracle network that publishes publisher-signed prices, strong on Solana and perps.