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Glossary
Glossary

Blockchain

A decentralized public ledger

Cross-chain technology

A blockchain that operates without being attached to another platform

Decentralized applications (dApps)

Digital applications or programs that exist and run on a blockchain. dApps are outside of the purview and control of a single authority.

Decentralized finance (DeFi)

A collection of financial services that are offered outside the traditional banking system.

EMBR

An all-in-one go-to place to promote your idea, build a team, collect feedback, and, finally, launch your project.

Binance Coin (BNB)

Binance's native cryptocurrency. It can be used to pay fees for transactions and trading on the Binance exchange.

Ether (ETH)

The native cryptocurrency on the Ethereum blockchain. It can also be used to pay gas fees and utilize smart contracts on the Ethereum network.

Binance Smart Chain

Binance's own Proof of Stake (PoS) blockchain which they developed in-house. Binance utilizes this technology as their foundation for its decentralized exchange (DEX).

Proof of Stake (PoS)

A consensus mechanism used to validate cryptocurrency transactions. Nodes on the network can stake their coins, which gives them the right to check new blocks of transactions and add them to the blockchain. An alternative to Proof of Work because of it's energy efficiency.

Smart contract

A self-executing contract with the terms of agreement between two or more parties directly written into lines of code. The code controls the execution, and transactions are trackable and irreversible, making smart contracts very efficient and cost-effective.

Proof of Work (PoW)

A consensus mechanism that requires participants to perform an extensive amount of computational work in order to solve a mathematical puzzle to validate transactions and prevent anybody from cheating the system.

Token

A unit of value generated on a blockchain network. Tokens can represent assets like currencies, game items, and company shares.

Token sale (ICO)

The process of creating and selling tokens on the blockchain. They are generally crowdsourced via smart contracts which are then traded on marketplaces. Tokens are often used to represent securities, though this definition is subject to change as more governments provide clarification on their usage.

BEP20

The token standard for BSC. It specifies token metadata such as the symbol, name, decimals, and so on.

Wallet

A software application that stores private and public keys used to interact with blockchains

Exchange

An online marketplace where cryptocurrencies can be traded for fiat currencies, other types of cryptocurrency, or exchange-traded funds (ETFs).

Cross-chain technology

A blockchain that operates without being attached to another platform

Interoperability

Ability for two or more networks to share information with one another independently.

Exchange

A service that allows users to trade one type of token for another, or to sell their tokens in exchange for fiat currencies.

Binance DEX

The decentralized exchange offered by Binance. It trades off security and censorship resistance for higher performance and usability.

Fiat Currency

A currency recognized by a government and issued through its designated central bank.

Fiat-to-token

The process of converting fiat (like USD) to tokens on an exchange via the sale of tokens for fiat and the purchase of tokens with fiat.

ERC20

A technical standard that determines how tokens are transferred and how data is accessed on the Ethereum blockchain.

Scalability

The capability of a blockchain to handle a growing number of transactions.

Fee-sharing

A percentage of the total fees accumulated by an exchange, given back to BNB holders.

Speed

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GlossaryGlossary

Blockchain

Cross-chain technology

Decentralized applications (dApps)

Decentralized finance (DeFi)

EMBR

Binance Coin (BNB)

Ether (ETH)

Binance Smart Chain

Proof of Stake (PoS)

Smart contract

Proof of Work (PoW)

Token

Token sale (ICO)

BEP20

Wallet

Exchange

Cross-chain technology

Interoperability

Exchange

Binance DEX

Fiat Currency

Fiat-to-token

ERC20

Scalability

Fee-sharing

Speed

Glossary
Glossary