Decentralization

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Decentralization refers to the distribution of power, authority, or control away from a central authority or entity to multiple nodes or participants within a network. In decentralized systems, decision-making and governance are distributed among various stakeholders rather than being concentrated in a single entity. This approach aims to enhance transparency, resilience, and autonomy while reducing the risk of single points of failure or manipulation. Examples of decentralized systems include blockchain networks, peer-to-peer file-sharing systems, and distributed autonomous organizations (DAOs).

Centralized Exchange

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An exchange where users deposit their funds into accounts controlled by the exchange, which acts as an intermediary for trading. Examples include Binance and Coinbase.

Decentralized Exchange

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An exchange that operates without a central authority or intermediary. Users trade directly from their cryptocurrency wallets. Examples include Tron Wallet, Klever, Uniswap and PancakeSwap.

Order Book

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A real-time, continually updated list of buy and sell orders on an exchange. It shows the current market demand and supply

Market Order

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An order to buy or sell a cryptocurrency immediately at the current market price. It is executed as soon as it is placed

Limit Order

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An order to buy or sell a cryptocurrency at a specific price or better. It will only be executed if the market reaches the specified price.

KYC

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A regulatory process where exchanges verify the identity of their customers to prevent fraud and comply with anti-money laundering (AML) regulations.

Liquidity

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The ease with which an asset can be bought or sold in the market without affecting its price. High liquidity typically means there is a significant volume of trading activity.

Altcoin

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Any cryptocurrency other than Bitcoin. The term is a combination of “alternative” and “coin.”

FIAT

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Traditional, government-issued currencies like the US Dollar (USD) or Euro (EUR).