Turning the page.
Bringing the next chapter into view…
From your first block to the finer details. Explore the ideas, people, and systems behind the market—one useful explanation at a time.
Follow a transaction from a key to a shared ledger.
Begin with BlockchainExplore contracts, liquidity, borrowing and the risks between them.
Begin with Smart contractUnderstand what a price, valuation or sentiment indicator can tell you.
Begin with Market capitalizationLearn custody, permissions and how to assess what you sign.
Begin with Hardware walletConnect the original ideas to the incidents that changed the industry.
Begin with A Cypherpunk's ManifestoSeparate technical standards, issuer claims and legal frameworks.
Begin with Howey testCompromising a dependency, CDN, or installer to reach many wallets at once.
A price area where buyers have repeatedly shown up and slowed a decline.
Zones where price previously reacted. Tools for planning, not prophecy.
A distortion caused by studying only assets, funds, or projects that remain visible while omitting failed, delisted, or otherwise missing examples.
The Society for Worldwide Interbank Financial Telecommunication. The messaging network banks use to instruct cross-border payments, now migrating many flows to ISO 20022.
Creating many fake identities to outvote honest peers. Proof of work and stake make this expensive.
Making it expensive to fake many users, via stake, identity, or proof of personhood.
Same-day or instant settlement. Crypto spot is closer to this than stock T+1, which matters for ETF ops.
Traditional securities settlement lags. Crypto spot is closer to T+0, which is why ETF in-kind is operationally hard.
A Bitcoin upgrade that improved privacy and scripting, used by Ordinals and many modern spends.
The Eurosystem RTGS for euro central-bank money.
The issuer of USDT, the most used dollar stablecoin by volume, reserved in a mix of cash, Treasuries, and other assets.
A gold-linked token whose issuer terms describe each unit as an ownership interest in one fine troy ounce of gold on a specified bullion bar.
A self-amending proof-of-stake chain that votes protocol upgrades on-chain.
The 2016 exploit of The DAO on Ethereum that led to a controversial hard fork and Ethereum Classic.
Crypto slang for closely following and trading newly launched, thinly traded, highly speculative tokens, especially memecoins.
A crypto hedge fund that blew up in 2022 after leveraged bets and contagion from Terra.
How many transactions a network can settle per second under its current limits.
TARGET Instant Payment Settlement, the ECB's instant euro rail.
Whether a token's descriptive fields or their update authority can change after creation.
Representing an off-chain claim (bond, fund share, invoice, property interest) as a transferable on-chain token with legal wrapping off-chain.
The supply rules, allocation, distribution schedule, utility, and incentives surrounding a token.
The Open Network, a chain originally designed for Telegram and now used for consumer payments and mini-apps.
An Ethereum-based privacy protocol designated by the U.S. Treasury in 2022 and removed from its economic sanctions list in March 2025.
The dominant charting platform for TA, alerts, and social ideas across crypto and traditional markets.
Candles, drawings, and Pine Script indicators that most crypto CT screenshots come from.
An account's transaction sequence number, used on Ethereum to order outgoing transactions and prevent the same signed transaction from executing repeatedly.
Additional behavior and dependencies introduced when a token calls custom logic as part of a transfer.
A structure where a custodian holds assets for both a client and a lender or venue under a control agreement.
A high-throughput chain widely used for USDT transfers, especially in emerging-market payments.
The Official Trump Solana memecoin launched mid-January 2025. Price spiked into the tens of billions FDV lore then crashed; trading fees accrued to affiliated entities while many late buyers lost money.
Time-weighted average price. An execution style that slices an order across time to reduce impact.
A second step beyond the password. App or hardware keys beat SMS for exchange security.
The hash that uniquely identifies a transaction on a given chain.
The leading Ethereum AMM. v2 popularized constant-product pools. v3 added concentrated liquidity. v4 adds hooks.
A version of the Uniswap automated market maker architecture built around a shared pool manager and optional hooks that customize pool behavior.
Pricing goods in an asset. Almost no economy prices in BTC; mostly USD and local fiat.
A token allowance large enough to let a designated spender move present and potentially future balances without asking for another allowance each time.
India's Unified Payments Interface, a public instant-payment rail used at national scale.
A dollar stablecoin issued by Circle, widely used in DeFi and by U.S.-facing platforms.
An unspent transaction output. Bitcoin-style ledgers track coins as discrete outputs rather than account balances.
A validity-proof system that keeps data off-chain. Cheaper than a rollup, weaker if the data committee fails.
An asset manager with early crypto ETPs in Europe and later U.S. spot Bitcoin products.
A signed claim (age, license, accreditation) that a wallet can present without handing over a photocopy.
A lockup calendar that releases tokens over time so insiders cannot dump the float on day one.
A card network experimenting with stablecoin settlement while remaining the main retail-payments rail.
Ethereum's co-founder and the public face of Ethereum research and roadmap communication.
How much price swings. Crypto volatility is typically far higher than large-cap equities.
The notional amount traded over a period. High volume supports a move. Thin volume can fake one.
Volume-weighted average price. A benchmark and an execution style that follows traded volume.
Software or hardware that holds keys and builds transactions. It does not store coins. The chain does.
A major 2024 exchange breach that froze a large share of user assets and highlighted multisig and custody design risk.
The need for a proof-of-stake node joining or returning after a long absence to obtain a sufficiently recent trusted checkpoint before validating forward.
A shorthand history: static pages, then platform silos, then crypto-enabled ownership narratives.
A marketing and technical label for internet apps that use wallets, tokens, and user-owned state.
A security researcher who reports or sometimes rescues funds under safe-harbor norms.
The founding technical or economic document for a protocol. Read incentives and trust assumptions, not just vision slides.
An issuer of crypto and tokenized-fund products in the U.S. and Europe.
Exchange feature that restricts withdrawals to pre-approved addresses.
A project that issues WLD and a World ID after iris-scanning, aiming at proof of personhood.
A Bitcoin-family coin with optional shielded transactions using zk-SNARKs.
A proof that a statement is true without revealing the secret that makes it true.
A rollup that posts a validity proof so L1 can check the new state without re-executing every trade.
A succinct zero-knowledge proof used by Zcash and many ZK rollups to prove a statement without revealing inputs.
A protocol and software ecosystem for validity-proof-based chains, including ZKsync Era; a deployment's execution environment, data availability, and settlement configuration determine its actual guarantees.
Definitions offer a starting point. Detailed readings include the sources behind the explanation.