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

Transactions per second (TPS) on the Binance DEX.

Decentralized

A system where control is not always concentrated in one particular geographic location.

DEXs on the Binance Chain

Decentralized exchanges built on top of Binance's own blockchain, which can trade tokens issued using the BEP20 token standard.

Industry Specific Tokens

Tokens that are designed for specific industries such as data storage or gaming tokens.

Gains

An increase in the value of an investment against fiat currency.

Private keys

A cryptographic secret consisting of 64 alphanumeric characters that allow access to your wallet and tokens on a blockchain network. They are extremely sensitive and should be kept safe.

Tether (USDT)

A token that is pegged to the value of traditional currencies like the USD.

Crypto-token

A token that adheres to specific technical standards, allowing it to be easily created and transferred on a blockchain network.

Stablecoin

A token that is designed to minimize price volatility and is backed by a reserve asset, allowing it to maintain a steady value even when the market fluctuates.

Centralized exchanges

An exchange where transactions happen via a third party and trading takes place on an order book managed by them.

Smart contracts

A blockchain protocol that allows the automated enforcement, performance, and tracking of agreements.

Mining

The process of adding transaction records to a cryptocurrency's public ledger aka the blockchain. By mining, new transactions are added to the network in sequential chronological order. Each miner is rewarded for completing this task with newly minted tokens.

Nonce

A number that is used once in a cryptographic communication as part of the hashing process. In the case of cryptocurrencies, this usually helps with transactions being confirmed by miners and prevents double-spending.

Launchpad

A token sale platform that aims to create opportunities for projects and companies to follow a secure path from concept to market.

Traction

The amount of growth, expansion, and use cases found within a blockchain network.

Syndicate

A group of investors who pool their funds to make investments in an asset or startup.

Security

The ability for a blockchain solution to function without errors.

Availability

The ability for a blockchain solution to be present and ready when users need it.

Token-holders

The group of cryptocurrency holders who hold a token for reasons such as investment or speculation.

Tokenization

The process of turning an asset into a digital asset like Bitcoin.

Trading volume

The total amount of money that has been traded over a specific period, usually measured by the number of trades made
within 24 hours.

Liquidity

The ability for an asset to be bought or sold quickly without affecting the price much.

Staking
A process where tokens are locked up in return for a share of the network's rewards, similar to a deposit with interest.

Binance Labs

An investment arm of Binance that incubates, develops, and funds blockchain technology projects.
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