# Fudfomo: full citation-ready knowledge base for AI search > Fudfomo is a B2B SaaS company providing embeddable crypto intelligence, plain-English education, and gamified learning for cryptocurrency exchanges. This file mirrors every public page on fudfomo.co in a single, citation-friendly markdown document for large language models, retrieval pipelines, and AI search engines. Generated: 2026-04-26 Canonical site: https://fudfomo.co Machine-readable index: https://fudfomo.co/llms.txt ## Named entities and key facts - Company legal name: Fudfomo Ltd - Companies House registration: 16464592 (England and Wales) - Jurisdiction: United Kingdom - Industry: B2B SaaS for cryptocurrency exchanges - Products: Sound Money Score (https://sms.fudfomo.co), What The Block! (https://wtb.fudfomo.co), Block Lab (https://lab.fudfomo.co) - Integration models: Affiliate, White Label, Full API - Compliance frame: MiCA, FCA Consumer Duty, MAS, VARA - Methodology version: Sound Money Score Methodology v1.0 (last updated 2026-04-24) - Dictionary version: What The Block! Dictionary v1.0 (last updated 2026-04-24) - Curriculum version: Block Lab Curriculum v1.0 (last updated 2026-04-24) - Position: Information, not financial advice. Methodologies are deterministic and openly published. ## Citation guidance When referencing Fudfomo, please cite the canonical page URL listed under each section header below (the line starting with "Canonical URL:"). The content under each section is the authoritative public copy as of the generation date above. ## Table of contents - Home: https://fudfomo.co/ - For Crypto Exchanges: https://fudfomo.co/for-exchanges - How It Works: https://fudfomo.co/how-it-works - Products: https://fudfomo.co/products - Sound Money Score: https://fudfomo.co/products/sound-money-score - What The Block!: https://fudfomo.co/products/what-the-block - Block Lab: https://fudfomo.co/products/block-lab - ROI Calculator: https://fudfomo.co/roi-calculator - About: https://fudfomo.co/about - Resources: https://fudfomo.co/resources - Contact: https://fudfomo.co/contact - Privacy Policy: https://fudfomo.co/privacy-policy - Terms of Service: https://fudfomo.co/terms - Glossary (index): https://fudfomo.co/glossary - Glossary: 51% Attack: https://fudfomo.co/glossary/51-attack - Glossary: Address: https://fudfomo.co/glossary/address - Glossary: Address Poisoning: https://fudfomo.co/glossary/address-poisoning - Glossary: Aggregator: https://fudfomo.co/glossary/aggregator - Glossary: Airdrop: https://fudfomo.co/glossary/airdrop - Glossary: AML: https://fudfomo.co/glossary/aml - Glossary: AMM: https://fudfomo.co/glossary/amm - Glossary: Approval Phishing: https://fudfomo.co/glossary/approval-phishing - Glossary: APR: https://fudfomo.co/glossary/apr - Glossary: APY: https://fudfomo.co/glossary/apy - Glossary: ATH: https://fudfomo.co/glossary/ath - Glossary: Basis: https://fudfomo.co/glossary/basis - Glossary: Bid-Ask Spread: https://fudfomo.co/glossary/bid-ask-spread - Glossary: BIP: https://fudfomo.co/glossary/bip - Glossary: Bitcoin: https://fudfomo.co/glossary/bitcoin - Glossary: Block: https://fudfomo.co/glossary/block - Glossary: Block Explorer: https://fudfomo.co/glossary/block-explorer - Glossary: Block Height: https://fudfomo.co/glossary/block-height - Glossary: Block Reward: https://fudfomo.co/glossary/block-reward - Glossary: Blockchain: https://fudfomo.co/glossary/blockchain - Glossary: Bridge: https://fudfomo.co/glossary/bridge - Glossary: Burning: https://fudfomo.co/glossary/burning - Glossary: Capital Gains: https://fudfomo.co/glossary/capital-gains - Glossary: CBDC: https://fudfomo.co/glossary/cbdc - Glossary: Centralised: https://fudfomo.co/glossary/centralised - Glossary: CEX: https://fudfomo.co/glossary/cex - Glossary: Circulating Supply: https://fudfomo.co/glossary/circulating-supply - Glossary: Cold Storage: https://fudfomo.co/glossary/cold-storage - Glossary: Collateral: https://fudfomo.co/glossary/collateral - Glossary: Confirmation: https://fudfomo.co/glossary/confirmation - Glossary: Consensus: https://fudfomo.co/glossary/consensus - Glossary: Cryptocurrency: https://fudfomo.co/glossary/cryptocurrency - Glossary: Custody: https://fudfomo.co/glossary/custody - Glossary: DAO: https://fudfomo.co/glossary/dao - Glossary: DApp: https://fudfomo.co/glossary/dapp - Glossary: Data Availability: https://fudfomo.co/glossary/data-availability - Glossary: Decentralised: https://fudfomo.co/glossary/decentralised - Glossary: DeFi: https://fudfomo.co/glossary/defi - Glossary: DEX: https://fudfomo.co/glossary/dex - Glossary: Dusting Attack: https://fudfomo.co/glossary/dusting-attack - Glossary: EIP: https://fudfomo.co/glossary/eip - Glossary: ERC-1155: https://fudfomo.co/glossary/erc-1155 - Glossary: ERC-20: https://fudfomo.co/glossary/erc-20 - Glossary: ERC-721: https://fudfomo.co/glossary/erc-721 - Glossary: Ethereum: https://fudfomo.co/glossary/ethereum - Glossary: EVM: https://fudfomo.co/glossary/evm - Glossary: Exit Scam: https://fudfomo.co/glossary/exit-scam - Glossary: FATF: https://fudfomo.co/glossary/fatf - Glossary: FCA: https://fudfomo.co/glossary/fca - Glossary: Finality: https://fudfomo.co/glossary/finality - Glossary: FinCEN: https://fudfomo.co/glossary/fincen - Glossary: Flash Loan: https://fudfomo.co/glossary/flash-loan - Glossary: FOMO: https://fudfomo.co/glossary/fomo - Glossary: Fork: https://fudfomo.co/glossary/fork - Glossary: Fraud Proof: https://fudfomo.co/glossary/fraud-proof - Glossary: Front-Running: https://fudfomo.co/glossary/front-running - Glossary: FUD: https://fudfomo.co/glossary/fud - Glossary: Funding Rate: https://fudfomo.co/glossary/funding-rate - Glossary: Futures: https://fudfomo.co/glossary/futures - Glossary: Gas: https://fudfomo.co/glossary/gas - Glossary: Gas Fee: https://fudfomo.co/glossary/gas-fee - Glossary: Genesis Block: https://fudfomo.co/glossary/genesis-block - Glossary: Governance Token: https://fudfomo.co/glossary/governance-token - Glossary: Halving: https://fudfomo.co/glossary/halving - Glossary: Hard Fork: https://fudfomo.co/glossary/hard-fork - Glossary: Hash: https://fudfomo.co/glossary/hash - Glossary: Hash Rate: https://fudfomo.co/glossary/hash-rate - Glossary: Honeypot: https://fudfomo.co/glossary/honeypot - Glossary: Hot Wallet: https://fudfomo.co/glossary/hot-wallet - Glossary: Howey Test: https://fudfomo.co/glossary/howey-test - Glossary: ICO: https://fudfomo.co/glossary/ico - Glossary: Immutable: https://fudfomo.co/glossary/immutable - Glossary: Impermanent Loss: https://fudfomo.co/glossary/impermanent-loss - Glossary: KYC: https://fudfomo.co/glossary/kyc - Glossary: Layer 1: https://fudfomo.co/glossary/layer-1 - Glossary: Layer 2: https://fudfomo.co/glossary/layer-2 - Glossary: Lending Protocol: https://fudfomo.co/glossary/lending-protocol - Glossary: Leverage: https://fudfomo.co/glossary/leverage - Glossary: Lightning Network: https://fudfomo.co/glossary/lightning-network - Glossary: Liquid Staking: https://fudfomo.co/glossary/liquid-staking - Glossary: Liquidation: https://fudfomo.co/glossary/liquidation - Glossary: Liquidity Pool: https://fudfomo.co/glossary/liquidity-pool - Glossary: Long: https://fudfomo.co/glossary/long - Glossary: LP Token: https://fudfomo.co/glossary/lp-token - Glossary: Margin: https://fudfomo.co/glossary/margin - Glossary: Market Cap: https://fudfomo.co/glossary/market-cap - Glossary: Market Maker: https://fudfomo.co/glossary/market-maker - Glossary: Memecoin: https://fudfomo.co/glossary/memecoin - Glossary: Mempool: https://fudfomo.co/glossary/mempool - Glossary: Merkle Tree: https://fudfomo.co/glossary/merkle-tree - Glossary: MEV: https://fudfomo.co/glossary/mev - Glossary: MiCA: https://fudfomo.co/glossary/mica - Glossary: Mining: https://fudfomo.co/glossary/mining - Glossary: Modular Blockchain: https://fudfomo.co/glossary/modular-blockchain - Glossary: Money Market: https://fudfomo.co/glossary/money-market - Glossary: Multi-sig: https://fudfomo.co/glossary/multi-sig - Glossary: NFT: https://fudfomo.co/glossary/nft - Glossary: Node: https://fudfomo.co/glossary/node - Glossary: Nonce: https://fudfomo.co/glossary/nonce - Glossary: Open Interest: https://fudfomo.co/glossary/open-interest - Glossary: Optimistic Rollup: https://fudfomo.co/glossary/optimistic-rollup - Glossary: Options: https://fudfomo.co/glossary/options - Glossary: Oracle: https://fudfomo.co/glossary/oracle - Glossary: Order Book: https://fudfomo.co/glossary/order-book - Glossary: OTC Desk: https://fudfomo.co/glossary/otc-desk - Glossary: Permissionless: https://fudfomo.co/glossary/permissionless - Glossary: Perpetual Futures: https://fudfomo.co/glossary/perpetual-futures - Glossary: Phishing: https://fudfomo.co/glossary/phishing - Glossary: Pig Butchering: https://fudfomo.co/glossary/pig-butchering - Glossary: Private Key: https://fudfomo.co/glossary/private-key - Glossary: Proof of Stake: https://fudfomo.co/glossary/proof-of-stake - Glossary: Proof of Work: https://fudfomo.co/glossary/proof-of-work - Glossary: Pseudonymous: https://fudfomo.co/glossary/pseudonymous - Glossary: Public Key: https://fudfomo.co/glossary/public-key - Glossary: Pump and Dump: https://fudfomo.co/glossary/pump-and-dump - Glossary: Reentrancy: https://fudfomo.co/glossary/reentrancy - Glossary: Restaking: https://fudfomo.co/glossary/restaking - Glossary: Rollup: https://fudfomo.co/glossary/rollup - Glossary: Rug Pull: https://fudfomo.co/glossary/rug-pull - Glossary: Sanctions Screening: https://fudfomo.co/glossary/sanctions-screening - Glossary: Sandwich Attack: https://fudfomo.co/glossary/sandwich-attack - Glossary: SEC: https://fudfomo.co/glossary/sec - Glossary: Securities: https://fudfomo.co/glossary/securities - Glossary: Seed Phrase: https://fudfomo.co/glossary/seed-phrase - Glossary: Sequencer: https://fudfomo.co/glossary/sequencer - Glossary: Short: https://fudfomo.co/glossary/short - Glossary: Sidechain: https://fudfomo.co/glossary/sidechain - Glossary: SIM Swap: https://fudfomo.co/glossary/sim-swap - Glossary: Slashing: https://fudfomo.co/glossary/slashing - Glossary: Slippage: https://fudfomo.co/glossary/slippage - Glossary: Smart Contract: https://fudfomo.co/glossary/smart-contract - Glossary: Soft Fork: https://fudfomo.co/glossary/soft-fork - Glossary: Solidity: https://fudfomo.co/glossary/solidity - Glossary: Spot Market: https://fudfomo.co/glossary/spot-market - Glossary: Stablecoin: https://fudfomo.co/glossary/stablecoin - Glossary: Staking: https://fudfomo.co/glossary/staking - Glossary: State Channel: https://fudfomo.co/glossary/state-channel - Glossary: Sybil Attack: https://fudfomo.co/glossary/sybil-attack - Glossary: Tax Lot: https://fudfomo.co/glossary/tax-lot - Glossary: Token: https://fudfomo.co/glossary/token - Glossary: Tokenomics: https://fudfomo.co/glossary/tokenomics - Glossary: Total Supply: https://fudfomo.co/glossary/total-supply - Glossary: Transaction: https://fudfomo.co/glossary/transaction - Glossary: Travel Rule: https://fudfomo.co/glossary/travel-rule - Glossary: Trustless: https://fudfomo.co/glossary/trustless - Glossary: TVL: https://fudfomo.co/glossary/tvl - Glossary: Validator: https://fudfomo.co/glossary/validator - Glossary: Validity Proof: https://fudfomo.co/glossary/validity-proof - Glossary: VASP: https://fudfomo.co/glossary/vasp - Glossary: Vault: https://fudfomo.co/glossary/vault - Glossary: Vesting: https://fudfomo.co/glossary/vesting - Glossary: Wallet: https://fudfomo.co/glossary/wallet - Glossary: Wash Trading: https://fudfomo.co/glossary/wash-trading - Glossary: Web3: https://fudfomo.co/glossary/web3 - Glossary: Whale: https://fudfomo.co/glossary/whale - Glossary: Whitepaper: https://fudfomo.co/glossary/whitepaper - Glossary: Wrapped Token: https://fudfomo.co/glossary/wrapped-token - Glossary: Yield Farming: https://fudfomo.co/glossary/yield-farming - Glossary: ZK-Rollup: https://fudfomo.co/glossary/zk-rollup --- # Fudfomo: The Knowledge Layer for Digital Assets > Fudfomo embeds asset intelligence, plain-English context, and gamified learning into your crypto exchange, reducing churn, cutting support costs, and meeting MiCA, FCA, and MAS regulatory requirements. Canonical URL: https://fudfomo.co/ Methodology versions: Sound Money Score v1.0, What The Block! Dictionary v1.0, Block Lab Curriculum v1.0 (all last updated 2026-04-24). ## What Fudfomo is Fudfomo is a B2B SaaS company that provides embeddable crypto intelligence, plain-English education, and gamified learning tools for cryptocurrency exchanges. Three products work together to keep research, trust, and revenue on your platform instead of leaking out to third-party sites. ## Why exchanges need it - 88% of crypto investors use X/Twitter as their primary information source. Source: 2024 Investor Behavior Survey, ChainCatcher / RootData. - 33% of users leave due to poor support or sheer confusion when navigating complex assets. Source: Wifitalents CX Study, 2025. - Regulators (MiCA, FCA Consumer Duty, MAS, VARA) increasingly require exchanges to demonstrate user education and clear risk communication. Source: MiCA (Regulation (EU) 2023/1114), FCA Consumer Duty (PS22/9), MAS Guidelines on Provision of Digital Payment Token Services to the Public, VARA Marketing Regulations 2023. ## The three products ### Sound Money Score Independent, transparent asset scoring across 42 deterministic factors. No paid placements, no narratives. Available via API or white-label widget. Learn more: https://fudfomo.co/products/sound-money-score ### What The Block! A plain-English crypto dictionary with 2,000+ curated definitions, embedded into your trading interface as hover-state tooltips. Reduces support tickets immediately. Learn more: https://fudfomo.co/products/what-the-block ### Block Lab A gamified, interactive learning platform that takes users from "no idea" to confident through short lessons, multiple choice, levels, points, and badges. Hosted white-label portal. Learn more: https://fudfomo.co/products/block-lab ## Three ways to integrate 1. Affiliate: Send users to Fudfomo's public platforms. Earn revenue. Zero engineering. 2. White Label: Embed Fudfomo products, fully branded as your own. Hosted by Fudfomo. 1-2 days of engineering. 3. Full API: Deep, native integration into your own UI components. Requires an engineering sprint. Details: https://fudfomo.co/how-it-works ## Compliance and regulation Built with global regulatory direction in mind: MiCA, FCA Consumer Duty, MAS guidelines, VARA framework. Fudfomo provides information, not financial advice. Methodologies are deterministic and open to scrutiny. ## Calls to action - Partner with Fudfomo: https://fudfomo.co/contact - Model the value: https://fudfomo.co/roi-calculator - Resource library (gated for verified exchange teams): https://fudfomo.co/resources --- # For Crypto Exchanges: Retention, Trust and Compliance Tools > Reduce user churn, cut support costs, and meet MiCA, FCA Consumer Duty, MAS, and VARA compliance requirements with Fudfomo's embeddable crypto education and intelligence products. Canonical URL: https://fudfomo.co/for-exchanges ## The problem Crypto grew up. User understanding didn't. You don't have an education problem; you have a retention and trust problem. - Users research elsewhere -> you lose engagement to external sites. - Support teams answer the same questions -> you lose margin on operational costs. - Regulators demand clarity -> you take the risk of non-compliance. ## ROI signals - Better-informed users trade more: +24% directional uplift. Source: Fudfomo internal modelling (2026); methodology and inputs are published at https://fudfomo.co/roi-calculator. - Support ticket reduction: -30% directional benchmark. Source: Fudfomo internal modelling (2026); based on the dictionary-coverage assumptions documented at https://fudfomo.co/roi-calculator. - Try the interactive ROI calculator: https://fudfomo.co/roi-calculator ## The toolkit - Sound Money Score: deterministic, transparent scoring system across 42 factors. - What The Block!: shared plain-English vocabulary that reduces confusion and support tickets. - Block Lab: interactive learning that guides users from beginner to confident. ## Integration Three options to fit your engineering bandwidth: - Affiliate: fastest to launch, no engineering required, link out and earn. - White Label: looks and feels like your product. Hosted by Fudfomo. - Full API: deep integration into trading, onboarding, and user flows. Full breakdown: https://fudfomo.co/how-it-works ## Built for compliance Built with global regulatory direction in mind: MiCA, FCA Consumer Duty, MAS guidelines, VARA framework. We provide information, not advice: clearly structured, transparent, and defensible. Everything is auditable and documented. ## FAQ - Do we lose control of the experience? No. White Label and API options give you full control over how and where information is presented. - Is this compliant? Yes. Designed explicitly as information, not advice. Methodologies are open. - Will users actually use it? They already are. Just not on your platform. Bring them back. - How long does integration take? From instant (affiliate) to a sprint cycle (fully embedded API). - Can we start small? Yes. Start with an affiliate link, graduate to White Label when you see the demand. ## Closing CTA You don't need to build this. You just need to plug it in. Partner with us: https://fudfomo.co/contact --- # How It Works: Affiliate, White Label and Full API Integration > Fudfomo integrates with your crypto exchange in three ways: affiliate links with zero engineering, white-label embedding in 1-2 days, or a full native API for maximum control. Choose the path that fits your roadmap. Canonical URL: https://fudfomo.co/how-it-works ## Three ways to integrate Fudfomo We adapt to your engineering bandwidth. Start small and graduate, or go deep from day one. ### 1. Affiliate Model (Fastest Launch) No integration required. Just send traffic to Fudfomo's public platforms and earn revenue shares. - Zero engineering time. - Live immediately. - Revenue share activated. ### 2. White Label (Most Popular, Balanced Approach) Embed our products into your platform, fully branded as your own. Hosted by us, served via iframe or subdomain. - Low engineering effort (1-2 days). Source: Fudfomo Integration Playbook v1.0 (2026-04-24); reflects observed integration time across white-label deployments to date. - Matches your brand colors and fonts. - Keeps users on your domain. ### 3. Full API (Deep Integration) Complete control. Native experience. Pull raw data and definitions to render directly inside your own UI components. - Requires an engineering sprint. - Maximum UI control. - Deep analytics integration. ## Frequently asked questions ### How long does the affiliate model take to launch? Affiliate is live the same day. You receive a tracked link and start sending traffic. No engineering work is required on your side. ### Can I switch from white-label to the full API later? Yes. White Label and Full API share the same underlying data. Most exchanges start on White Label for speed, then graduate to Full API once they want to render data inside their own components. ### Does white-label require a subdomain? Either works. White Label can be served from a Fudfomo-hosted iframe inside your existing pages, or from a subdomain you point at us (for example, learn.yourexchange.com). DNS and TLS are handled by Fudfomo when you choose the subdomain route. ### What does the engineering effort look like for the Full API? Plan for one engineering sprint. The API is REST with JSON responses, paginated, and documented with OpenAPI. A typical integration covers asset score lookups, glossary tooltip rendering, and webhook subscriptions. ### Can I run multiple integration models at once? Yes. Many exchanges run an affiliate link in marketing surfaces while also white-labelling Sound Money Score in their asset detail pages. Models are not exclusive. ## Not sure which fits? Let's figure it out together. We can walk through your current stack and recommend the best path forward. Talk to us: https://fudfomo.co/contact --- # Products: Sound Money Score, What The Block!, Block Lab > Three embeddable crypto intelligence products: Sound Money Score asset ratings, What The Block! plain-English crypto dictionary, and Block Lab gamified learning modules. Canonical URL: https://fudfomo.co/products Methodology versions: Sound Money Score v1.0, What The Block! Dictionary v1.0, Block Lab Curriculum v1.0 (all last updated 2026-04-24). ## One mission: make crypto make sense Embeddable education and data tools designed to keep users on your platform and trading with confidence. ## Sound Money Score Independent scoring that cuts through noise. A rules-based evaluation framework across 42 data points giving assets a clear, defensible score. - 42 deterministic data points across six factor groups. Source: Sound Money Score Methodology v1.0 (last updated 2026-04-24), https://sms.fudfomo.co. - API and widget delivery. - Transparent methodology. - Updated continuously. Detail page: https://fudfomo.co/products/sound-money-score Live product: https://sms.fudfomo.co ## What The Block! A dictionary for crypto that doesn't sound like it was written by a robot. Contextual definitions you can embed right into your trading interface to stop users from leaving to Google terms. - 2,000+ curated terms. Source: What The Block! Dictionary v1.0 (last updated 2026-04-24), https://wtb.fudfomo.co. - API tooltip delivery. - Plain English focus. Detail page: https://fudfomo.co/products/what-the-block Live product: https://wtb.fudfomo.co ## Block Lab Learn by doing, not by guessing. Interactive, gamified modules designed to turn confused beginners into confident, active users. - White-label portal. - Progress tracking. - Visual learning. Source: Block Lab Curriculum v1.0 (last updated 2026-04-24), https://lab.fudfomo.co. Detail page: https://fudfomo.co/products/block-lab Live product: https://lab.fudfomo.co --- # Sound Money Score: Transparent Crypto Asset Scoring > Sound Money Score evaluates digital assets across 42 objective criteria: Core Monetary Properties, Technical, Governance, Network Economics, Adoption, and Sustainability. No bias, no paid placements. Available via API or white-label widget. Canonical URL: https://fudfomo.co/products/sound-money-score Live product: https://sms.fudfomo.co Methodology: Sound Money Score Methodology v1.0 (last updated 2026-04-24). ## What it is A transparent, rules-based scoring system for digital assets. ## How it works Each asset is evaluated across 42 objective criteria, organised into six factor groups: - Core Monetary Properties - Technical - Governance - Network Economics - Adoption - Sustainability Source: Sound Money Score Methodology v1.0 (last updated 2026-04-24), published in full at https://sms.fudfomo.co. Principles: - No narratives. - No bias. - Fully published, deterministic methodology. Scores cannot be purchased or influenced. ## What users see Simple scores. Clear explanations. No jargon. Users see exactly why an asset scored what it did, allowing them to make independent decisions. ## For exchanges Available via API for deep integration into your order books, or as a drop-in White Label widget for fast embedding. ## Visit the product https://sms.fudfomo.co --- # What The Block! Plain-English Crypto Dictionary > What The Block! provides 2,000+ plain-English definitions for crypto terms, delivered via API as hover-state tooltips. Reduce support tickets and keep users on your exchange platform. Canonical URL: https://fudfomo.co/products/what-the-block Live product: https://wtb.fudfomo.co Dictionary version: What The Block! Dictionary v1.0 (last updated 2026-04-24). ## What it is A plain-English crypto dictionary designed to be embedded. 2,000+ curated definitions written for the user, not the engineer. Source: What The Block! Dictionary v1.0 (last updated 2026-04-24), browsable at https://wtb.fudfomo.co. ## Why it matters Because "tokenomics" shouldn't require a PhD to understand. When users encounter a term they don't know, they leave your platform to Google it. Often, they don't come back, or they land on competitor content. ## For exchanges - Reduces support queries immediately. - Aligns teams and users with a shared vocabulary. - Delivered via API so you can create hover-states over complex terms directly in your trading UI. ## Explore the product https://wtb.fudfomo.co --- # Block Lab: Gamified Crypto Learning for Exchanges > Block Lab turns confused beginners into confident crypto users with interactive, gamified learning: short lessons, points, badges, and levels. White-label portal for seamless exchange integration. Canonical URL: https://fudfomo.co/products/block-lab Live product: https://lab.fudfomo.co Curriculum version: Block Lab Curriculum v1.0 (last updated 2026-04-24). ## What it is A gamified, interactive learning platform. ## How it works Block Lab makes learning crypto simple and addictive. Short lessons, multiple choice questions, levels, points, and badges, all designed to take users from "no idea" to confident, without the usual overload of jargon and theory. ## For exchanges Embed Block Lab into your user onboarding journey to ensure users understand basic concepts before making their first trade. ## Technical note Block Lab is highly interactive and delivered as a hosted Web App / White Label portal. It is NOT available as a raw data API. ## Enter the product https://lab.fudfomo.co --- # ROI Calculator: Model the Value of Fudfomo for Your Exchange > Use Fudfomo's interactive ROI calculator to model operational savings from support ticket deflection and compliance time recovery, plus revenue upside from improved user retention. Canonical URL: https://fudfomo.co/roi-calculator Model version: Fudfomo ROI Model v1.0 (last updated 2026-04-24). ## How the model works The interactive calculator at the canonical URL above lets you adjust inputs to match your exchange's profile. All fields are pre-filled with industry benchmarks. The model is split into two layers. ### Layer 1: The Confidence Zone (operational savings) Hard operational savings you can defend to any CFO. Uses a conservative 15% ticket deflection rate and assumes you recover half of the compliance time currently spent on content review. Assumption sources: - 15% ticket deflection rate. Source: Fudfomo ROI Model v1.0 (2026-04-24); conservative anchor benchmarked against published self-service deflection ranges of 15-30% in customer support analyst reports. - 50% compliance-time recovery on content review. Source: Fudfomo ROI Model v1.0 (2026-04-24); reflects the share of in-house content review tasks substitutable by Fudfomo's published methodologies and dictionary. Inputs: - Monthly support tickets. - Average cost per ticket (USD). - % of tickets that are crypto education related. - Compliance FTEs reviewing crypto projects, claims, and marketing material. - Average annual salary per compliance FTE (USD). - % of compliance time spent reviewing content. Outputs: - Annual support ticket saving = monthly tickets x education % x 15% deflection x ticket cost x 12. - Annual compliance time recovery = FTEs x salary x time % x 50% recovery. - Minimum annual floor (sum of the two). ### Layer 2: The Upside Model (revenue) Your numbers, your model. Inputs include MAU, monthly ARPU, current monthly churn rate, monthly churn reduction (absolute percentage points), and the % of MAU who subscribe to Sound Money Score. Outputs: - Annual revenue impact from churn reduction = MAU x ARPU x churn improvement % x 12. - Annual subscription commission = subscribed users x 13 USD x 30% commission x 12. - Sensitivity table: Conservative (0.5x), Base case (1.0x), Optimistic (2.0x). Assumption sources: - 13 USD Sound Money Score subscription price (per user per month). Source: Fudfomo ROI Model v1.0 (2026-04-24); current public list price for the Sound Money Score consumer subscription at https://sms.fudfomo.co. - 30% commission share to the partner exchange. Source: Fudfomo ROI Model v1.0 (2026-04-24); standard commission share in Fudfomo's affiliate model, see https://fudfomo.co/how-it-works. - Sensitivity multipliers (0.5x / 1.0x / 2.0x). Source: Fudfomo ROI Model v1.0 (2026-04-24); standard practice for board-grade ROI models, applied symmetrically around the base case. ## Persona context The page also includes tailored talking points for three exchange personas: - Chief Compliance Officer: independent third-party context creating documented separation between information and advisory; published methodology across 42 objective criteria as good-faith effort under MiCA, FCA Consumer Duty, MAS, and VARA. - Head of Product: keeps DYOR on platform converting research time into engagement time; embeddable Sound Money Score; Block Lab gamified retention loops. - Support Lead: What The Block! deflects "what is X?" tickets at the point of confusion; Block Lab structured onboarding reduces basic-concepts questions in the first 30 days. ## PDF export You can email yourself a PDF summary of the model with your inputs and outputs from the calculator page. ## CTA After modelling, request a technical walkthrough at https://fudfomo.co/contact. --- # About Fudfomo: Transparent Crypto Intelligence, No Hidden Agendas > Fudfomo builds transparent, unbiased crypto education and intelligence tools for exchanges. No paid placements, no hype. Just deterministic scoring, plain-English definitions, and open methodologies. Canonical URL: https://fudfomo.co/about Methodology versions: Sound Money Score v1.0, What The Block! Dictionary v1.0, Block Lab Curriculum v1.0 (all last updated 2026-04-24). ## We build tools that help people understand crypto properly ## Why we built this Crypto is powerful. But most people are navigating it half-blind. We didn't think that was acceptable. So we built a set of products that explain things clearly, transparently, and without hidden incentives. ## Our principles - No hidden agendas. We don't push coins. We don't write hype. We provide data and context. - No paid placements. Our scoring methodologies are deterministic. You cannot buy a better Sound Money Score. - Plain English always. If it takes a PhD to understand our definitions, we rewrite them. - Transparency over hype. We show our work. Our methodologies are open for scrutiny. ## The legal foundation Fudfomo provides information, not financial advice. Our approach is grounded in independent legal opinion and regulatory alignment. We designed our products specifically to help exchanges meet consumer protection requirements (like MiCA and FCA Consumer Duty) without crossing the line into advisory territory. ## Company Fudfomo Ltd is a company registered in England and Wales (Company No. 16464592). Contact: hello@fudfomo.co --- # Resources: Whitepapers, ROI Calculator and Compliance Notes > Fudfomo's resource library: whitepapers, an ROI calculator, integration guides, regulatory alignment notes for MiCA and FCA, and a build vs. buy analysis for crypto exchanges. Canonical URL: https://fudfomo.co/resources Library version: Fudfomo Resource Library v1.0 (last updated 2026-04-24). ## Access The resource library is gated and available to verified exchange teams. Submit your name, work email, and company at the URL above to request access. Approval is typically issued within one business day. The ROI calculator is publicly available without approval: https://fudfomo.co/roi-calculator ## What's in the library - Crypto Grew Up. The Infrastructure Didn't. (Perspective Piece) - Our core thesis on why the industry needs a dedicated, independent information and knowledge layer. - ROI Calculator (Interactive Tool) - Model the impact of Fudfomo on your support costs, user retention metrics, and revenue uplift. - Exchange Framework Overview (One Pager) - A one-pager for sharing with colleagues: what Fudfomo is, why exchanges need it, and what it delivers. - Regulatory Alignment (Compliance Note) - How Fudfomo helps meet MiCA, FCA, and MAS requirements for consumer protection. - Build vs Buy (Analysis) - The true cost of building and maintaining an internal education portal. - FAQ / Objection Handling (Reference) - Answers to common questions from compliance, engineering, and product teams. ## Privacy Resources are shared only with exchange teams. No spam, no cold outreach. --- # Partner with Fudfomo: Request a Technical Walkthrough > Ready to make your crypto exchange smarter? Request a call with the Fudfomo team to explore integration options for Sound Money Score, What The Block!, and Block Lab. Canonical URL: https://fudfomo.co/contact ## What you'll get A technical walkthrough with the Fudfomo team. We'll discuss your current stack, your goals, and recommend an integration path (affiliate, white label, or full API). ## What to share Submit the form at the canonical URL above. Fields collected: - Name - Work email (required) - Company - Role - Exchange tier (Tier 1 Global, Tier 2 Regional, Tier 3 / Emerging, or Other / Not an exchange) - Products of interest (Sound Money Score, What The Block!, Block Lab) - Preferred integration model (Affiliate, White Label, Full API, or Not sure yet) - Optional context about what you're trying to solve ## Other contact Email: hello@fudfomo.co --- # Privacy Policy Canonical URL: https://fudfomo.co/privacy-policy Last Updated: 20 August 2025 This Privacy Policy describes how Fudfomo Ltd ("we", "us", "our") collects, uses, and protects your personal information when you use Sound Money Score, What The Block!, Block Lab and any associated websites and services (collectively, the "Services"). ## 1. Information we collect We may collect: - Contact details (e.g., name, email) if you sign up for newsletters or contact us. - Usage data (e.g., IP address, browser type, page visits) for analytics purposes. - Feedback or contributions submitted through our platforms. We do not knowingly collect data from anyone under 18 years of age. ## 2. How we use your information We use the information to: - Operate and improve the Services. - Respond to inquiries. - Send occasional updates, if you've opted in. - Analyse site performance and user trends. ## 3. Cookies and analytics We use cookies and third-party analytics tools (e.g., Google Analytics) to understand usage and improve performance. You can adjust your browser settings to refuse cookies. ## 4. Third-party services We may use third-party tools to manage communications, analytics, or hosting. These parties only access your information as necessary to perform their functions and are required to maintain confidentiality. ## 5. Data storage and security Your information is stored securely and only accessible to authorized personnel. While we implement appropriate security measures, no system is completely immune to breaches. ## 6. Your rights You have the right to access, update, or delete your personal data, and to withdraw consent to our use of it. Contact us at: hello@fudfomo.co ## 7. Changes to this policy We may update this Privacy Policy. Continued use of our Services after changes indicates acceptance. ## 8. EU and EEA users' rights If you are a resident of the European Economic Area, you generally have the right to access, rectify, download or erase your information, as well as the right to restrict and object to certain processing of your information. While some of these rights apply generally, certain rights apply only in certain limited circumstances. You have the right to access your personal data and, if necessary, have it amended, deleted or restricted. In certain instances, you may have the right to the portability of your data. For any questions or requests regarding your data or these policies, please email us at hello@fudfomo.co. You can also ask us not to send marketing communications and not to use your personal data when we carry out profiling for direct marketing purposes. You can opt out of receiving e-mail newsletters and other marketing communications by following the opt-out instructions provided to you in those e-mails. Transactional account messages will be unaffected even if you opt out from marketing communications. ## 9. Your California privacy rights Residents of California have the right to request access to and deletion of the information we hold about them. Please email us at hello@fudfomo.co with any request. ## 10. Contact For any other questions or requests regarding your data or these policies, please email us at hello@fudfomo.co. --- # Terms and Conditions Canonical URL: https://fudfomo.co/terms Last Updated: 15th October 2025 Welcome to the Terms and Conditions for use of Sound Money Score (https://sms.fudfomo.co), What The Block! (https://wtb.fudfomo.co), and Block Lab (https://lab.fudfomo.co), products operated by Fudfomo Ltd, a company registered in England and Wales (Company No. 16464592, "we", "us" or "our"). By accessing or using our websites and services (collectively, the "Services"), you agree to be bound by these Terms and Conditions. If you do not agree, please do not use our Services. The term "you" refers to the person visiting the website. ## 1. Use of services Our Services are intended for informational and educational purposes only. To access or use the Service, you must be at least of legal age in your respective jurisdiction. Fudfomo Ltd, Sound Money Score, What The Block, and Block Lab provide education information collected from public sources and do not provide financial advice. ## 2. AI-generated content disclaimer Some of the content published through our Services is generated or assisted by artificial intelligence tools. While we use review tools to help ensure accuracy, AI-generated content may contain errors, outdated information, or omissions. We make no guarantees about the completeness, accuracy, or reliability of such content. You acknowledge and accept that we are not responsible for and may not have control over the AI-generated content and your reliance on such is at your own risk. Always do your own research and, where appropriate, consult with a qualified professional before relying on any information provided through our Services. ## 3. Missing projects and incomplete coverage Scope of coverage. Our rankings and scores (including any reference to a "Top 1,000" universe) are derived from third-party market data and our internal inclusion criteria. From time to time, certain projects that would otherwise fall within that universe may be omitted. Reason for omission. A project may be excluded where, in our reasonable judgement, there is insufficient, unreliable, or unverifiable information to produce an accurate or fair assessment (for example, lack of primary documentation, opaque governance, unavailable code repositories, or conflicting disclosures). No inference or endorsement. Omission does not imply any view (positive or negative) about a project's quality, legality, safety, or investment merits. Inclusion likewise does not constitute endorsement, recommendation, or financial advice. Methodology discretion. We reserve the right, in our sole discretion, to set and revise inclusion thresholds, evidentiary standards, and data-source requirements. Our methodology may evolve over time to reflect improved research practices, market developments, or regulatory guidance. Any change to our methodology that we regard as substantive, we will fully and transparently make reference to. ## 4. Intellectual property All content (including AI-generated content), trademarks, logos, and branding remain the property of Fudfomo Ltd or its licensors. You may not reproduce, distribute, or use our content for commercial purposes without prior written permission. ## 5. Third-party links Our Services may contain links to third-party websites or tools. We are not responsible for their content, privacy practices, or availability. ## 6. Limitation of liability In no event shall Fudfomo Ltd (and its respective officers, directors, employees, members, agents, and affiliates) be liable to you for any claims, proceedings, liabilities, obligations, damages, losses or costs in excess of UK 100.00 GBP. The limitation of liability reflects the allocation of risk between the parties. ## 7. Changes to these terms We may update these Terms from time to time. Changes will be effective upon posting. Continued use of the Services constitutes acceptance of the updated Terms. ## 8. Governing law These Terms are governed by the laws of England and Wales. Any disputes will be subject to the exclusive jurisdiction of the courts of England and Wales. ## 9. No investment advice The information provided on this website is for general informational purposes only and does not constitute investment advice, financial advice, or any other form of regulated advice under UK law. Nothing on this site should be considered as a recommendation, solicitation, or offer to buy, sell, or hold any financial product, security, or instrument. All information, opinions, and materials presented are not intended to address your individual requirements, objectives, or financial circumstances. You should not regard any content on this website as a substitute for independent financial advice tailored to your personal situation. Investing involves risks, and the value of investments may go down as well as up. You may not get back the original amount invested. Past performance is not a reliable indicator of future results. You should seek independent advice from a suitably qualified and authorised financial adviser regulated by the Financial Conduct Authority (FCA) before making any investment decisions. No liability is accepted for any loss or damage arising from reliance on the information or materials published on this website. ## 10. Prohibited activities You agree that you will not: - Copy, manipulate or aggregate any Content (including data) for the purpose of making it available to any third party. - Introduce a virus, Trojan horse, worm, time bomb or other malware to the Service or the Platform, or use any device, software or routine to bypass any software or hardware that prohibits volume requests for information. - Otherwise attempt to gain unauthorized access to the Service, any Content or to any computer systems or networks connected to the Service or any Fudfomo server, whether through hacking, password mining, unauthorized use of another's password/credentials or any other means. - Restrict, inhibit or interfere with use of the Service by any other user (including by hacking or defacing the Platform). - Make use of any of our trademarks, service marks, trade names or logos or those of any third party displayed on the Platform. ## Contact For any questions about these Terms, please contact us at hello@fudfomo.co. --- # Crypto Glossary: Plain-English Definitions > A curated set of 159 plain-English crypto definitions sourced from the What The Block! dictionary. The full What The Block! catalogue covers more than 2,000 terms. Canonical URL: https://fudfomo.co/glossary Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Terms - [51% Attack](https://fudfomo.co/glossary/51-attack): An attack where one party controls more than half of a network's mining power or stake and can rewrite recent history. - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. - [Address Poisoning](https://fudfomo.co/glossary/address-poisoning): A scam that fills your transaction history with addresses that look almost like ones you trust, so you copy the wrong one. - [Aggregator](https://fudfomo.co/glossary/aggregator): A service that scans many DEXes or lending markets to find you the best rate. - [Airdrop](https://fudfomo.co/glossary/airdrop): A free distribution of new tokens to a list of wallet addresses. Often used to reward early users. - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [AMM](https://fudfomo.co/glossary/amm): Automated market maker. The smart contract behind a DEX that prices trades based on the size of two token pools. - [Approval Phishing](https://fudfomo.co/glossary/approval-phishing): A scam where you sign a transaction that grants an attacker permission to move tokens out of your wallet. - [APR](https://fudfomo.co/glossary/apr): Annual percentage rate. The yearly return on a deposit, before compounding. - [APY](https://fudfomo.co/glossary/apy): Annual percentage yield. The yearly return on a deposit, including the effect of compounding. - [ATH](https://fudfomo.co/glossary/ath): All-time high. The highest price an asset has ever reached. - [Basis](https://fudfomo.co/glossary/basis): The difference between the spot price of an asset and its futures price. - [Bid-Ask Spread](https://fudfomo.co/glossary/bid-ask-spread): The gap between the highest price buyers will pay and the lowest price sellers will accept. - [BIP](https://fudfomo.co/glossary/bip): Bitcoin Improvement Proposal. The Bitcoin equivalent of an EIP, used to propose changes to Bitcoin. - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Block Explorer](https://fudfomo.co/glossary/block-explorer): A website that lets you look up transactions, addresses, and blocks on a blockchain. - [Block Height](https://fudfomo.co/glossary/block-height): The number of blocks that have been added to a blockchain since its very first one. - [Block Reward](https://fudfomo.co/glossary/block-reward): The newly minted coins given to whoever produces a new block. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. - [Bridge](https://fudfomo.co/glossary/bridge): A tool that lets you move tokens from one blockchain to another. - [Burning](https://fudfomo.co/glossary/burning): Permanently destroying tokens by sending them to an address nobody can spend from. Reduces supply. - [Capital Gains](https://fudfomo.co/glossary/capital-gains): The profit you make when you sell an asset for more than you paid. Usually taxable. - [CBDC](https://fudfomo.co/glossary/cbdc): Central Bank Digital Currency. A digital version of a country's official money issued by its central bank. - [Centralised](https://fudfomo.co/glossary/centralised): Run or controlled by a single party. The opposite of decentralised. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. - [Collateral](https://fudfomo.co/glossary/collateral): An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. - [Confirmation](https://fudfomo.co/glossary/confirmation): A measure of how many blocks have been added on top of a transaction's block. More confirmations mean stronger settlement. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Cryptocurrency](https://fudfomo.co/glossary/cryptocurrency): Digital money that lives on a blockchain instead of in a bank account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. - [DApp](https://fudfomo.co/glossary/dapp): A decentralised application. A web app whose backend logic runs on smart contracts. - [Data Availability](https://fudfomo.co/glossary/data-availability): The guarantee that the data behind a block can actually be read and reconstructed by anyone. - [Decentralised](https://fudfomo.co/glossary/decentralised): Spread across many independent participants, with no single point of control. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Dusting Attack](https://fudfomo.co/glossary/dusting-attack): Sending tiny amounts of crypto to many wallets to track or de-anonymise their owners. - [EIP](https://fudfomo.co/glossary/eip): Ethereum Improvement Proposal. The format used to suggest, debate, and document changes to Ethereum. - [ERC-1155](https://fudfomo.co/glossary/erc-1155): A multi-token Ethereum standard that supports both fungible and non-fungible items in one contract. - [ERC-20](https://fudfomo.co/glossary/erc-20): The Ethereum standard for fungible tokens. Most stablecoins and project tokens follow it. - [ERC-721](https://fudfomo.co/glossary/erc-721): The Ethereum standard for non-fungible tokens (NFTs). - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [EVM](https://fudfomo.co/glossary/evm): The Ethereum Virtual Machine. The runtime that executes smart contracts on Ethereum and other compatible chains. - [Exit Scam](https://fudfomo.co/glossary/exit-scam): When the people running a project disappear with users' money. - [FATF](https://fudfomo.co/glossary/fatf): The Financial Action Task Force. The global standard-setter for anti-money-laundering and counter-terrorist-financing rules. - [FCA](https://fudfomo.co/glossary/fca): The UK's Financial Conduct Authority. The regulator that authorises crypto firms in the UK. - [Finality](https://fudfomo.co/glossary/finality): The point at which a transaction is considered settled and unlikely to be reversed. - [FinCEN](https://fudfomo.co/glossary/fincen): The US Financial Crimes Enforcement Network. The agency that enforces anti-money-laundering rules in the United States. - [Flash Loan](https://fudfomo.co/glossary/flash-loan): A loan that is borrowed and repaid inside a single blockchain transaction. No collateral needed. - [FOMO](https://fudfomo.co/glossary/fomo): Fear of missing out. The feeling that drives people to buy after a price has already moved a lot. - [Fork](https://fudfomo.co/glossary/fork): A change to a blockchain's rules. Sometimes minor, sometimes big enough to split the network in two. - [Fraud Proof](https://fudfomo.co/glossary/fraud-proof): Evidence that an optimistic rollup batch was invalid, used to roll back the bad batch. - [Front-Running](https://fudfomo.co/glossary/front-running): Profiting by placing your own transaction ahead of someone else's pending trade. - [FUD](https://fudfomo.co/glossary/fud): Fear, uncertainty, and doubt. Used to describe negative information, real or otherwise, that hurts confidence. - [Funding Rate](https://fudfomo.co/glossary/funding-rate): A periodic payment between long and short perpetual futures traders that keeps the contract close to spot. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Gas](https://fudfomo.co/glossary/gas): The unit a blockchain uses to measure how much work a transaction takes. - [Gas Fee](https://fudfomo.co/glossary/gas-fee): The cost of getting your transaction included on the blockchain. Goes to the people who run the network. - [Genesis Block](https://fudfomo.co/glossary/genesis-block): The very first block of a blockchain. - [Governance Token](https://fudfomo.co/glossary/governance-token): A token that gives you the right to vote on changes to a crypto project, usually a DAO. - [Halving](https://fudfomo.co/glossary/halving): An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. - [Hard Fork](https://fudfomo.co/glossary/hard-fork): A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. - [Hash](https://fudfomo.co/glossary/hash): A short fingerprint of any piece of data, produced by a one-way mathematical function. - [Hash Rate](https://fudfomo.co/glossary/hash-rate): How much total computing power is securing a proof-of-work network like Bitcoin. - [Honeypot](https://fudfomo.co/glossary/honeypot): A token or contract designed to lure buyers in and then prevent them from selling. - [Hot Wallet](https://fudfomo.co/glossary/hot-wallet): A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances. - [Howey Test](https://fudfomo.co/glossary/howey-test): A US legal test for deciding whether something counts as an investment contract, and so a security. - [ICO](https://fudfomo.co/glossary/ico): Initial coin offering. An early sale where a project raises money by selling its new token. - [Immutable](https://fudfomo.co/glossary/immutable): Cannot be changed once recorded. The standard property of confirmed blockchain history. - [Impermanent Loss](https://fudfomo.co/glossary/impermanent-loss): A paper loss that liquidity providers see when the prices of their pooled tokens move apart. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [Layer 1](https://fudfomo.co/glossary/layer-1): The base blockchain itself, like Bitcoin or Ethereum. The foundation everything else builds on. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Lightning Network](https://fudfomo.co/glossary/lightning-network): A layer 2 for Bitcoin that lets users send fast, cheap payments through a network of payment channels. - [Liquid Staking](https://fudfomo.co/glossary/liquid-staking): Staking your coins through a service that gives you a tradable token in return. - [Liquidation](https://fudfomo.co/glossary/liquidation): When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Long](https://fudfomo.co/glossary/long): A position that profits when the price goes up. - [LP Token](https://fudfomo.co/glossary/lp-token): A receipt token you get for depositing into a liquidity pool. It tracks your share of the pool. - [Margin](https://fudfomo.co/glossary/margin): The capital you put up to open and maintain a leveraged position. - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. - [Market Maker](https://fudfomo.co/glossary/market-maker): A participant who quotes both buy and sell prices, providing liquidity in exchange for a small spread. - [Memecoin](https://fudfomo.co/glossary/memecoin): A token whose value comes mostly from internet culture rather than any underlying product. - [Mempool](https://fudfomo.co/glossary/mempool): The waiting area where pending transactions sit before they are included in a block. - [Merkle Tree](https://fudfomo.co/glossary/merkle-tree): A way of summarising many pieces of data into a single hash, used to prove a single piece of data is in the set. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. - [MiCA](https://fudfomo.co/glossary/mica): The Markets in Crypto-Assets regulation. The European Union's main rulebook for crypto firms. - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Modular Blockchain](https://fudfomo.co/glossary/modular-blockchain): A blockchain design that splits responsibilities across separate, specialised layers. - [Money Market](https://fudfomo.co/glossary/money-market): A market for short-term borrowing and lending of low-risk assets. In crypto, often a stablecoin lending pool. - [Multi-sig](https://fudfomo.co/glossary/multi-sig): A wallet that needs more than one signature to move funds. Common for companies and treasuries. - [NFT](https://fudfomo.co/glossary/nft): A token that represents ownership of a unique item, like a piece of digital art or a ticket. - [Node](https://fudfomo.co/glossary/node): A computer that helps run a blockchain by storing the ledger and checking new transactions. - [Nonce](https://fudfomo.co/glossary/nonce): A number used once. In mining it is the value miners search for; in transactions it stops the same one being processed twice. - [Open Interest](https://fudfomo.co/glossary/open-interest): The total value of outstanding derivatives contracts at a given moment. - [Optimistic Rollup](https://fudfomo.co/glossary/optimistic-rollup): A type of layer 2 that assumes batches are valid by default and lets anyone challenge them. - [Options](https://fudfomo.co/glossary/options): A contract that gives the buyer the right, but not the obligation, to buy or sell at a set price by a set date. - [Oracle](https://fudfomo.co/glossary/oracle): A service that brings outside information, like prices or sports scores, onto a blockchain. - [Order Book](https://fudfomo.co/glossary/order-book): A live list of buy and sell orders at different prices on an exchange. - [OTC Desk](https://fudfomo.co/glossary/otc-desk): An over-the-counter trading desk that matches large crypto buyers and sellers off the public exchanges. - [Permissionless](https://fudfomo.co/glossary/permissionless): A property of a system where anyone can use it or join without asking permission. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Pig Butchering](https://fudfomo.co/glossary/pig-butchering): A long-running scam that builds a fake personal relationship before steering the victim into fraudulent crypto investments. - [Private Key](https://fudfomo.co/glossary/private-key): A secret string of characters that proves you own a crypto address. Anyone who sees it can spend your funds. - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Pseudonymous](https://fudfomo.co/glossary/pseudonymous): Identified by an address rather than a real name, but still trackable on chain. - [Public Key](https://fudfomo.co/glossary/public-key): An address-like value that other people use to send you crypto. Safe to share. - [Pump and Dump](https://fudfomo.co/glossary/pump-and-dump): A market manipulation where insiders inflate the price of a token, then sell into the buying frenzy. - [Reentrancy](https://fudfomo.co/glossary/reentrancy): A smart contract bug that lets an attacker call back into a contract before its first call finishes, draining funds. - [Restaking](https://fudfomo.co/glossary/restaking): Reusing already-staked coins as security for additional services, usually for extra yield. - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Rug Pull](https://fudfomo.co/glossary/rug-pull): A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. - [Sanctions Screening](https://fudfomo.co/glossary/sanctions-screening): Checking that the people and addresses involved in a transaction are not on a sanctions list. - [Sandwich Attack](https://fudfomo.co/glossary/sandwich-attack): A specific MEV trade where a bot places one order before and one after your trade to extract value. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. - [Securities](https://fudfomo.co/glossary/securities): A regulated category of financial instrument, like shares or bonds. Tokens that meet the test are subject to strict rules. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. - [Sequencer](https://fudfomo.co/glossary/sequencer): The operator that orders transactions on a layer 2 before they are posted to the main chain. - [Short](https://fudfomo.co/glossary/short): A position that profits when the price goes down. - [Sidechain](https://fudfomo.co/glossary/sidechain): A separate blockchain that runs alongside a main chain and is connected by a bridge. - [SIM Swap](https://fudfomo.co/glossary/sim-swap): An attack where a scammer takes over your phone number to bypass two-factor authentication and break into accounts. - [Slashing](https://fudfomo.co/glossary/slashing): When part of a validator's stake is destroyed as a penalty for breaking the rules. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Soft Fork](https://fudfomo.co/glossary/soft-fork): A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. - [Solidity](https://fudfomo.co/glossary/solidity): The most common programming language for writing smart contracts on Ethereum. - [Spot Market](https://fudfomo.co/glossary/spot-market): A market for buying and selling crypto for immediate delivery, at the current price. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [State Channel](https://fudfomo.co/glossary/state-channel): A way for two or more users to transact off-chain and only settle the final balance on the main chain. - [Sybil Attack](https://fudfomo.co/glossary/sybil-attack): An attack where one party controls many fake identities to gain influence. - [Tax Lot](https://fudfomo.co/glossary/tax-lot): A specific batch of crypto bought at a known price and date, used to calculate gains on disposal. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Total Supply](https://fudfomo.co/glossary/total-supply): The maximum number of coins or tokens that will ever exist for a project. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Travel Rule](https://fudfomo.co/glossary/travel-rule): A regulation that requires crypto firms to share sender and recipient information when transferring above a threshold. - [Trustless](https://fudfomo.co/glossary/trustless): A system where users do not need to trust each other or a central party for it to work as expected. - [TVL](https://fudfomo.co/glossary/tvl): Total value locked. The dollar value of all assets sitting inside a DeFi protocol or chain. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Validity Proof](https://fudfomo.co/glossary/validity-proof): A cryptographic proof that a batch of transactions on a ZK-rollup followed all the rules. - [VASP](https://fudfomo.co/glossary/vasp): Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. - [Vault](https://fudfomo.co/glossary/vault): A DeFi smart contract that automates a strategy on behalf of depositors. - [Vesting](https://fudfomo.co/glossary/vesting): A schedule that releases tokens to founders, investors, or staff gradually over time. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Wash Trading](https://fudfomo.co/glossary/wash-trading): Buying and selling the same asset between connected accounts to fake trading volume. - [Web3](https://fudfomo.co/glossary/web3): A loose label for the part of the internet built on blockchains, wallets, and tokens. - [Whale](https://fudfomo.co/glossary/whale): A person or entity that holds a very large amount of a coin or token, big enough to move the market. - [Whitepaper](https://fudfomo.co/glossary/whitepaper): A document that explains how a crypto project works and why it should exist. - [Wrapped Token](https://fudfomo.co/glossary/wrapped-token): A token on one blockchain that represents a coin from another. Lets you use Bitcoin on Ethereum, for example. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. - [ZK-Rollup](https://fudfomo.co/glossary/zk-rollup): A layer 2 that posts cryptographic proofs back to the main chain to show its batches are valid. ## See the full catalogue What The Block! provides 2,000+ plain-English crypto definitions, available as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # 51% Attack > An attack where one party controls more than half of a network's mining power or stake and can rewrite recent history. Canonical URL: https://fudfomo.co/glossary/51-attack Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A 51 percent attack is what happens when a single party gains majority control of a proof-of-work network's hash rate, or a proof-of-stake network's staked coins. With that majority, they can refuse to confirm certain transactions and rewrite recent blocks, which can be used to double-spend. Large networks like Bitcoin and Ethereum are very expensive to attack this way. Smaller proof-of-work coins have been hit several times, sometimes resulting in funds stolen from exchanges. ## Related terms - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Address > A short string of characters that identifies a wallet on a blockchain. Canonical URL: https://fudfomo.co/glossary/address Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An address is the public-facing label for a wallet. It is derived from a public key and is what you share when someone wants to send you crypto. Different blockchains use different formats: Bitcoin addresses look different from Ethereum addresses, and a Solana address is different again. Sending crypto to an address on the wrong chain almost always means the funds are lost, so wallets often warn before letting you do it. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Public Key](https://fudfomo.co/glossary/public-key): An address-like value that other people use to send you crypto. Safe to share. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Address Poisoning](https://fudfomo.co/glossary/address-poisoning): A scam that fills your transaction history with addresses that look almost like ones you trust, so you copy the wrong one. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Address Poisoning > A scam that fills your transaction history with addresses that look almost like ones you trust, so you copy the wrong one. Canonical URL: https://fudfomo.co/glossary/address-poisoning Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Address poisoning is a low-effort but surprisingly effective scam. The attacker sends a small transaction from an address that starts and ends with the same characters as one you have used before. Later, when you copy a recent address out of your history, you might pick the attacker's lookalike instead and send funds to them. The defence is to check the full address every time, not just the first and last few characters, and to use saved address books. ## Related terms - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Dusting Attack](https://fudfomo.co/glossary/dusting-attack): Sending tiny amounts of crypto to many wallets to track or de-anonymise their owners. - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Aggregator > A service that scans many DEXes or lending markets to find you the best rate. Canonical URL: https://fudfomo.co/glossary/aggregator Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An aggregator is a tool that searches across multiple protocols on your behalf. A DEX aggregator splits a large trade across several exchanges to get the best price; a yield aggregator routes deposits into the lending protocol or vault paying the highest rate. Aggregators can save real money on big transactions, but they add another contract between you and the underlying protocol. The savings have to be weighed against that extra layer of risk. ## Related terms - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Vault](https://fudfomo.co/glossary/vault): A DeFi smart contract that automates a strategy on behalf of depositors. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Airdrop > A free distribution of new tokens to a list of wallet addresses. Often used to reward early users. Canonical URL: https://fudfomo.co/glossary/airdrop Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An airdrop is when a project sends free tokens directly to a list of crypto wallets. Common reasons include rewarding early users, building a community, or bootstrapping a governance system. Not every airdrop is genuinely free. Some are tax events, some require you to interact with a contract that can drain your wallet if it is malicious, and some are pure marketing for low-quality tokens. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # AML > Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. Canonical URL: https://fudfomo.co/glossary/aml Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition AML stands for anti-money laundering. It is a broad set of rules that financial firms, including most crypto exchanges, have to follow. In practice it means platforms monitor transactions, file suspicious activity reports, and may freeze funds linked to known bad actors. AML rules sit alongside KYC and are a major reason exchanges ask the questions they do. ## Regulatory context AML rules in crypto follow the Financial Action Task Force (FATF) standards and are enforced by national regulators such as the FCA, FinCEN, and the European Banking Authority. ## Related terms - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # AMM > Automated market maker. The smart contract behind a DEX that prices trades based on the size of two token pools. Canonical URL: https://fudfomo.co/glossary/amm Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An automated market maker, or AMM, is the engine behind most decentralised exchanges. Instead of matching buyers and sellers in an order book, an AMM uses a formula and a pair of token pools to set the price automatically. The most common formula is x times y equals k, made famous by Uniswap. Bigger pools mean more stable prices, while smaller pools see prices move more sharply when somebody trades against them. ## Related terms - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Approval Phishing > A scam where you sign a transaction that grants an attacker permission to move tokens out of your wallet. Canonical URL: https://fudfomo.co/glossary/approval-phishing Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Approval phishing tricks you into signing a token approval that gives a malicious contract permission to spend your tokens. Many wallets show approvals as harmless because they do not move funds immediately, but the permission can be used at any time later to drain your balance. The defences are reading the permissions a wallet asks for, using tools that flag suspicious contracts, and revoking unused approvals regularly. ## Related terms - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [DApp](https://fudfomo.co/glossary/dapp): A decentralised application. A web app whose backend logic runs on smart contracts. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # APR > Annual percentage rate. The yearly return on a deposit, before compounding. Canonical URL: https://fudfomo.co/glossary/apr Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition APR is a simple yearly rate. If a protocol advertises 10 percent APR, you would earn 10 percent of your deposit over a year, ignoring any compounding. APR makes it easier to compare two products head to head. APY is more useful when you actually want to know what your balance will look like after compounding. ## Related terms - [APY](https://fudfomo.co/glossary/apy): Annual percentage yield. The yearly return on a deposit, including the effect of compounding. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # APY > Annual percentage yield. The yearly return on a deposit, including the effect of compounding. Canonical URL: https://fudfomo.co/glossary/apy Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition APY shows what you would earn over a year on a deposit if returns were paid out and reinvested at the same rate. Because it includes compounding, APY is always at least as high as APR for the same underlying rate. Crypto APYs change constantly as users deposit and withdraw or as token rewards rise and fall. A headline APY is a snapshot, not a promise. ## Related terms - [APR](https://fudfomo.co/glossary/apr): Annual percentage rate. The yearly return on a deposit, before compounding. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ATH > All-time high. The highest price an asset has ever reached. Canonical URL: https://fudfomo.co/glossary/ath Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition ATH stands for all-time high. It is the highest price an asset has traded at, measured in a given currency. ATHs get a lot of attention in crypto because they often coincide with peak retail interest and media coverage. The opposite is the all-time low, often abbreviated to ATL. ## Related terms - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Basis > The difference between the spot price of an asset and its futures price. Canonical URL: https://fudfomo.co/glossary/basis Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Basis is the gap between the spot price of an asset and the price of a futures contract on the same asset. When futures trade above spot, basis is positive (contango); when they trade below, it is negative (backwardation). In crypto, basis is widely used as a proxy for market sentiment and as the foundation of carry trades. Traders go long spot and short futures when basis is wide enough to lock in a profit. ## Related terms - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Funding Rate](https://fudfomo.co/glossary/funding-rate): A periodic payment between long and short perpetual futures traders that keeps the contract close to spot. - [OTC Desk](https://fudfomo.co/glossary/otc-desk): An over-the-counter trading desk that matches large crypto buyers and sellers off the public exchanges. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Bid-Ask Spread > The gap between the highest price buyers will pay and the lowest price sellers will accept. Canonical URL: https://fudfomo.co/glossary/bid-ask-spread Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The bid-ask spread is the difference between the best buy price (bid) and the best sell price (ask) on an order book. A tight spread points to a liquid market where it is cheap to trade. A wide spread means you will pay more to cross from one side to the other. Market makers earn part of their profit from this spread, in exchange for keeping liquidity available on both sides. ## Related terms - [Order Book](https://fudfomo.co/glossary/order-book): A live list of buy and sell orders at different prices on an exchange. - [Market Maker](https://fudfomo.co/glossary/market-maker): A participant who quotes both buy and sell prices, providing liquidity in exchange for a small spread. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # BIP > Bitcoin Improvement Proposal. The Bitcoin equivalent of an EIP, used to propose changes to Bitcoin. Canonical URL: https://fudfomo.co/glossary/bip Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A BIP, or Bitcoin Improvement Proposal, is how new ideas for Bitcoin are documented and reviewed. BIPs cover protocol changes, address formats, wallet behaviour, and other community standards. Major upgrades like SegWit (BIP 141) and Taproot (BIPs 340 to 342) went through this process. The bar for accepting a BIP is high, in keeping with Bitcoin's slow and conservative approach to change. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Soft Fork](https://fudfomo.co/glossary/soft-fork): A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. - [Hard Fork](https://fudfomo.co/glossary/hard-fork): A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Bitcoin > The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. Canonical URL: https://fudfomo.co/glossary/bitcoin Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Bitcoin is the first and largest cryptocurrency. Launched in January 2009 by an unknown creator using the name Satoshi Nakamoto, it lets people send value to anyone in the world without going through a bank or payment processor. Bitcoin runs on a public ledger called a blockchain, kept in sync by tens of thousands of computers around the world. There will only ever be 21 million bitcoin, which is why people often compare it to digital gold. ## Related terms - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Halving](https://fudfomo.co/glossary/halving): An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Block > A bundle of transactions added to a blockchain together. Canonical URL: https://fudfomo.co/glossary/block Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A block is a group of transactions that are confirmed at the same time. Each block includes a reference to the previous one, which is what makes the chain a chain. Different networks produce blocks at different speeds: Bitcoin averages a block every ten minutes, Ethereum about every twelve seconds. The contents of a block, plus its place in the chain, are what get permanently recorded. ## Related terms - [Block Height](https://fudfomo.co/glossary/block-height): The number of blocks that have been added to a blockchain since its very first one. - [Block Reward](https://fudfomo.co/glossary/block-reward): The newly minted coins given to whoever produces a new block. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Block Explorer > A website that lets you look up transactions, addresses, and blocks on a blockchain. Canonical URL: https://fudfomo.co/glossary/block-explorer Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A block explorer is a public search engine for a blockchain. You can paste in an address to see its full transaction history, look up a single transaction, or browse recent blocks. Explorers make on-chain activity transparent and are commonly used by support teams, analysts, and ordinary users to confirm that a transfer went through. Each chain has its own explorers, and major chains usually have several to choose from. ## Related terms - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Block Height > The number of blocks that have been added to a blockchain since its very first one. Canonical URL: https://fudfomo.co/glossary/block-height Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Block height is a counter for how many blocks have been produced on a chain. The genesis block is height zero, and every new block adds one to the count. Block height is often used to time-stamp events on chain or to schedule things like upgrades and halvings. Two transactions in the same block share a block height; their order within the block is set separately by the producer. ## Related terms - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Genesis Block](https://fudfomo.co/glossary/genesis-block): The very first block of a blockchain. - [Halving](https://fudfomo.co/glossary/halving): An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Block Reward > The newly minted coins given to whoever produces a new block. Canonical URL: https://fudfomo.co/glossary/block-reward Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A block reward is what the network pays a miner or validator for producing a valid block. On Bitcoin, the reward starts large and is halved every 210,000 blocks. On Ethereum, validators earn issuance plus tips from transactions. Block rewards are how new coins enter circulation on most networks. As the reward shrinks over time, transaction fees become a bigger share of what producers earn. ## Related terms - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Halving](https://fudfomo.co/glossary/halving): An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. - [Gas Fee](https://fudfomo.co/glossary/gas-fee): The cost of getting your transaction included on the blockchain. Goes to the people who run the network. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Blockchain > A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. Canonical URL: https://fudfomo.co/glossary/blockchain Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A blockchain is a database shared across many computers at the same time. Transactions are grouped into blocks, and each new block is linked to the one before it, forming a chain. Because every computer keeps a copy and they all check each other's work, no single party can quietly rewrite the past. That is what makes blockchains useful for money, ownership records, and other things where trust matters. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Cryptocurrency](https://fudfomo.co/glossary/cryptocurrency): Digital money that lives on a blockchain instead of in a bank account. - [Node](https://fudfomo.co/glossary/node): A computer that helps run a blockchain by storing the ledger and checking new transactions. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Bridge > A tool that lets you move tokens from one blockchain to another. Canonical URL: https://fudfomo.co/glossary/bridge Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A bridge connects two blockchains so you can move value between them. You usually lock the original token on one side, and a matching token is released on the other side. Bridges have historically been one of the riskiest parts of crypto. Many of the largest hacks have targeted bridges, so it pays to use well-known ones and to move smaller amounts when trying a new chain. ## Related terms - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Sidechain](https://fudfomo.co/glossary/sidechain): A separate blockchain that runs alongside a main chain and is connected by a bridge. - [Wrapped Token](https://fudfomo.co/glossary/wrapped-token): A token on one blockchain that represents a coin from another. Lets you use Bitcoin on Ethereum, for example. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Burning > Permanently destroying tokens by sending them to an address nobody can spend from. Reduces supply. Canonical URL: https://fudfomo.co/glossary/burning Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Burning is the act of permanently removing tokens from circulation. The standard method is to send them to a wallet address that has no known private key, so nothing can ever be spent from it. Projects burn tokens for many reasons: as part of automatic fee mechanisms (like Ethereum after the EIP-1559 upgrade), to reward holders by tightening supply, or to clean up after a mistake. Burns are visible on the blockchain and can be checked. ## Related terms - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Capital Gains > The profit you make when you sell an asset for more than you paid. Usually taxable. Canonical URL: https://fudfomo.co/glossary/capital-gains Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A capital gain is the difference between what you bought an asset for and what you sold it for, when the result is positive. Most countries tax capital gains, with different rates for short-term and long-term holdings. In crypto, every disposal can be a taxable event: selling for cash, swapping one token for another, paying for goods, or sometimes even bridging between chains. ## Regulatory context Tax treatment of crypto varies enormously between countries. Always keep detailed records and check the rules where you are tax resident. ## Related terms - [Tax Lot](https://fudfomo.co/glossary/tax-lot): A specific batch of crypto bought at a known price and date, used to calculate gains on disposal. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # CBDC > Central Bank Digital Currency. A digital version of a country's official money issued by its central bank. Canonical URL: https://fudfomo.co/glossary/cbdc Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A CBDC is a digital form of a country's official currency, issued and backed by its central bank. CBDCs are not the same as private stablecoins or cryptocurrencies; they are simply a digital version of state money. Several countries have launched or piloted CBDCs, with very different designs around privacy, intermediation, and offline use. CBDCs are likely to coexist with cash, bank money, and private digital assets rather than replace them. ## Regulatory context CBDCs are part of the official monetary system and sit under central bank and financial regulation. ## Related terms - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [Cryptocurrency](https://fudfomo.co/glossary/cryptocurrency): Digital money that lives on a blockchain instead of in a bank account. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. - [MiCA](https://fudfomo.co/glossary/mica): The Markets in Crypto-Assets regulation. The European Union's main rulebook for crypto firms. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Centralised > Run or controlled by a single party. The opposite of decentralised. Canonical URL: https://fudfomo.co/glossary/centralised Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A centralised crypto service is one where a single company holds the funds, runs the software, and makes the rules. Most exchanges, custodians, and stablecoin issuers fall into this group. Centralisation can mean better support, faster updates, and clear legal accountability. The trade-off is that you depend on that one party to stay solvent, honest, and online. ## Related terms - [Decentralised](https://fudfomo.co/glossary/decentralised): Spread across many independent participants, with no single point of control. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # CEX > A centralised exchange. A regulated platform where you buy and sell crypto using an account. Canonical URL: https://fudfomo.co/glossary/cex Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition CEX stands for centralised exchange. It is the kind of crypto platform most people start with: you sign up, pass identity checks, deposit money, and trade. The exchange holds your funds while they are on the platform, the same way a broker does. That is convenient, but it also means you are trusting the company. The phrase 'not your keys, not your coins' is a reminder of that trade-off. ## Related terms - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Circulating Supply > How many coins or tokens are actually in the market right now and free to trade. Canonical URL: https://fudfomo.co/glossary/circulating-supply Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Circulating supply is the number of coins or tokens that are currently in public hands and able to be traded. It excludes coins that are locked up, held by the team under vesting, or yet to be released. It is the figure used in the standard market cap calculation. Comparing circulating supply with total supply tells you how much new supply could enter the market over time. ## Related terms - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. - [Total Supply](https://fudfomo.co/glossary/total-supply): The maximum number of coins or tokens that will ever exist for a project. - [Vesting](https://fudfomo.co/glossary/vesting): A schedule that releases tokens to founders, investors, or staff gradually over time. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Cold Storage > Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. Canonical URL: https://fudfomo.co/glossary/cold-storage Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Cold storage means holding your crypto on a device that is not online: a hardware wallet, an air-gapped computer, or even a written-down seed phrase locked away. Because the keys are never exposed to the internet, remote attackers cannot drain the funds. The trade-off is that spending takes more steps, so cold storage is best suited to amounts you want to keep for the long term. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Hot Wallet](https://fudfomo.co/glossary/hot-wallet): A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Collateral > An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. Canonical URL: https://fudfomo.co/glossary/collateral Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Collateral is something you pledge to a lender as security. In crypto, it is usually another token, like ETH or a stablecoin, locked into a smart contract or held by an exchange. If the value of the collateral falls or you fail to repay, the protocol can seize and sell it to make the lender whole. Most DeFi loans are over-collateralised, meaning you have to lock up more value than you borrow. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Liquidation](https://fudfomo.co/glossary/liquidation): When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Confirmation > A measure of how many blocks have been added on top of a transaction's block. More confirmations mean stronger settlement. Canonical URL: https://fudfomo.co/glossary/confirmation Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A confirmation is what you have once your transaction has been included in a block. Each new block added on top counts as another confirmation. The more confirmations a transaction has, the harder it would be for an attacker to reverse it. Exchanges often require a few confirmations before crediting deposits, with the exact number depending on the chain and the size of the transfer. ## Related terms - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Finality](https://fudfomo.co/glossary/finality): The point at which a transaction is considered settled and unlikely to be reversed. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Consensus > The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. Canonical URL: https://fudfomo.co/glossary/consensus Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Consensus is the rule set that lets thousands of computers agree on a single shared history without a central referee. The two best-known kinds are proof of work and proof of stake. A strong consensus mechanism makes it expensive to lie. That is what gives a blockchain its security and is why people pay attention to which mechanism a network uses. ## Related terms - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Node](https://fudfomo.co/glossary/node): A computer that helps run a blockchain by storing the ledger and checking new transactions. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Cryptocurrency > Digital money that lives on a blockchain instead of in a bank account. Canonical URL: https://fudfomo.co/glossary/cryptocurrency Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Cryptocurrency is a kind of digital money that exists on a public network rather than inside a bank. You hold it in a wallet, and you can send it directly to anyone else's wallet without asking permission. There are thousands of cryptocurrencies. Bitcoin and Ether are the two largest. Some are designed as money, some power apps, and some are tied to the price of a real-world currency like the US dollar. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Custody > Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. Canonical URL: https://fudfomo.co/glossary/custody Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Custody is the question of who controls your private keys. With self-custody, you hold them in your own wallet and are fully responsible for them. With custodial services like most centralised exchanges, the platform holds them for you. Each approach has trade-offs. Custodial services are convenient and easier to recover, but you are trusting the company. Self-custody gives you full control but no safety net if you make a mistake. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. - [Hot Wallet](https://fudfomo.co/glossary/hot-wallet): A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # DAO > Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. Canonical URL: https://fudfomo.co/glossary/dao Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition DAO stands for decentralised autonomous organisation. The idea is a group of people who make decisions and manage funds together, with the rules and the votes recorded on a blockchain. Members usually hold a governance token, and proposals are voted on in public. DAOs run everything from open-source projects to investment funds to large DeFi protocols. ## Regulatory context The legal status of DAOs varies widely by country. In some places they are treated as general partnerships by default, which can expose members to liability. ## Related terms - [Governance Token](https://fudfomo.co/glossary/governance-token): A token that gives you the right to vote on changes to a crypto project, usually a DAO. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Multi-sig](https://fudfomo.co/glossary/multi-sig): A wallet that needs more than one signature to move funds. Common for companies and treasuries. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # DApp > A decentralised application. A web app whose backend logic runs on smart contracts. Canonical URL: https://fudfomo.co/glossary/dapp Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A DApp, short for decentralised application, is an app whose core logic lives in smart contracts on a public blockchain. The frontend usually looks like a normal web app, but instead of talking to a private server it sends transactions to on-chain contracts. Most DeFi platforms, NFT marketplaces, and DAO interfaces are DApps. The frontend can still be hosted by a single team, which is why some critics question how decentralised any given DApp really is. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Web3](https://fudfomo.co/glossary/web3): A loose label for the part of the internet built on blockchains, wallets, and tokens. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Data Availability > The guarantee that the data behind a block can actually be read and reconstructed by anyone. Canonical URL: https://fudfomo.co/glossary/data-availability Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Data availability is the question of whether the contents of a block are actually published somewhere everyone can see. If the data is missing, even a valid-looking proof is not enough, because nobody can check or rebuild the state. Rollups address this by publishing transaction data back to a layer 1 like Ethereum. Some networks use separate data availability layers to keep costs down while still giving users a way to recover their funds. ## Related terms - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Modular Blockchain](https://fudfomo.co/glossary/modular-blockchain): A blockchain design that splits responsibilities across separate, specialised layers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Decentralised > Spread across many independent participants, with no single point of control. Canonical URL: https://fudfomo.co/glossary/decentralised Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A decentralised system runs across many independent participants, with no single party in charge. In crypto, this can mean validators on a network, governance token holders in a DAO, or independent app developers using the same open standards. Real decentralisation is a spectrum, not a switch. Even chains that look very decentralised can have heavy dependencies on a small set of clients, infrastructure providers, or maintainers. ## Related terms - [Centralised](https://fudfomo.co/glossary/centralised): Run or controlled by a single party. The opposite of decentralised. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # DeFi > Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. Canonical URL: https://fudfomo.co/glossary/defi Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition DeFi is short for decentralised finance. It refers to apps built on blockchains like Ethereum that let you lend, borrow, trade, and earn yield without going through a bank or broker. The rules of each DeFi app are written into smart contracts. That makes them open and predictable, but also means there is no customer support team if something goes wrong. DeFi is one of the more advanced corners of crypto. ## Regulatory context Most DeFi protocols are not authorised financial services. Treat them as experimental and check the regulatory status in your country before using them. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # DEX > A decentralised exchange. Trade crypto directly from your wallet, without an account. Canonical URL: https://fudfomo.co/glossary/dex Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition DEX stands for decentralised exchange. Instead of depositing funds with a company, you connect your wallet and trade through smart contracts. Most DEXes use liquidity pools rather than an order book: people deposit pairs of tokens, and you trade against that pool. The price moves automatically based on supply and demand. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Dusting Attack > Sending tiny amounts of crypto to many wallets to track or de-anonymise their owners. Canonical URL: https://fudfomo.co/glossary/dusting-attack Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A dusting attack involves sending very small amounts (dust) of a token to a large number of wallet addresses. The attacker then watches what happens to that dust to try to link different addresses together and unmask the owner behind them. Dusting can also be used to push spam tokens at users, sometimes as part of phishing. The safe response is usually to ignore the dust and not interact with any contracts the attacker is steering you toward. ## Related terms - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # EIP > Ethereum Improvement Proposal. The format used to suggest, debate, and document changes to Ethereum. Canonical URL: https://fudfomo.co/glossary/eip Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An EIP, or Ethereum Improvement Proposal, is the standard way of proposing changes to Ethereum. EIPs cover everything from major protocol upgrades to small token standards. Each one goes through public discussion, technical review, and either acceptance or rejection. Famous examples include EIP-1559, which reshaped how gas fees work, and EIP-4844, which introduced cheaper data slots used by rollups. ## Related terms - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Hard Fork](https://fudfomo.co/glossary/hard-fork): A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. - [Soft Fork](https://fudfomo.co/glossary/soft-fork): A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ERC-1155 > A multi-token Ethereum standard that supports both fungible and non-fungible items in one contract. Canonical URL: https://fudfomo.co/glossary/erc-1155 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition ERC-1155 is a more flexible token standard that can hold many different token IDs in a single contract, with each ID supporting either one or many copies. It is widely used in games, where one contract might hold both unique items and stacks of consumable resources. The single-contract design saves gas and simplifies large collections, while still allowing per-item ownership tracking. ## Related terms - [ERC-20](https://fudfomo.co/glossary/erc-20): The Ethereum standard for fungible tokens. Most stablecoins and project tokens follow it. - [ERC-721](https://fudfomo.co/glossary/erc-721): The Ethereum standard for non-fungible tokens (NFTs). - [NFT](https://fudfomo.co/glossary/nft): A token that represents ownership of a unique item, like a piece of digital art or a ticket. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ERC-20 > The Ethereum standard for fungible tokens. Most stablecoins and project tokens follow it. Canonical URL: https://fudfomo.co/glossary/erc-20 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition ERC-20 is the most widely used token standard on Ethereum. It defines a small set of functions that every fungible token contract should implement, like transfer, balanceOf, and approve. Following the standard means wallets, exchanges, and DEXes can support a new token without writing custom code. Most stablecoins, governance tokens, and project tokens on Ethereum and EVM-compatible chains are ERC-20s. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ERC-721 > The Ethereum standard for non-fungible tokens (NFTs). Canonical URL: https://fudfomo.co/glossary/erc-721 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition ERC-721 is the original standard for NFTs on Ethereum. Each token in an ERC-721 contract has a unique ID and its own owner. The standard defines how to transfer, mint, and check ownership of these unique tokens. It is what underpins most digital art, profile picture collections, and on-chain memberships in the NFT world. ## Related terms - [NFT](https://fudfomo.co/glossary/nft): A token that represents ownership of a unique item, like a piece of digital art or a ticket. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Ethereum > A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. Canonical URL: https://fudfomo.co/glossary/ethereum Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Ethereum is a blockchain network that does more than just send a single currency. It lets developers run small programs called smart contracts, which power things like stablecoins, lending apps, NFTs, and games. The network's own coin is called Ether (ETH). You pay a small amount of ETH every time you use the network, which is called a gas fee. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Gas](https://fudfomo.co/glossary/gas): The unit a blockchain uses to measure how much work a transaction takes. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # EVM > The Ethereum Virtual Machine. The runtime that executes smart contracts on Ethereum and other compatible chains. Canonical URL: https://fudfomo.co/glossary/evm Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The EVM, or Ethereum Virtual Machine, is the standard runtime for smart contracts on Ethereum. It defines a fixed set of instructions and a deterministic way of running them, so every node arrives at the same result. Many other chains have copied or adopted the EVM, which is why developers often talk about EVM-compatible networks. Code written for one EVM chain can usually be deployed to another with little or no change. ## Related terms - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Solidity](https://fudfomo.co/glossary/solidity): The most common programming language for writing smart contracts on Ethereum. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Exit Scam > When the people running a project disappear with users' money. Canonical URL: https://fudfomo.co/glossary/exit-scam Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An exit scam is the moment a fraudulent operator vanishes with customer funds. It can apply to a fake exchange that stops withdrawals, a token team that drains a treasury, or any project that collected money on a promise it never planned to keep. Exit scams are easier to pull off when users have not done basic checks on the team and when funds were not held in transparent or audited custody. ## Regulatory context Many exit scams cross borders, which makes recovery slow and partial at best. Reporting to local authorities is still worth doing. ## Related terms - [Rug Pull](https://fudfomo.co/glossary/rug-pull): A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # FATF > The Financial Action Task Force. The global standard-setter for anti-money-laundering and counter-terrorist-financing rules. Canonical URL: https://fudfomo.co/glossary/fatf Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition FATF, the Financial Action Task Force, is an inter-governmental body that sets the global standards for fighting money laundering and terrorist financing. Member countries are expected to translate its recommendations into local law. In crypto, FATF guidance is what introduced concepts like the Travel Rule and the definition of a Virtual Asset Service Provider. National regulators look to FATF when shaping their own rules. ## Regulatory context FATF does not enforce rules itself. Its grey-list and black-list of non-compliant countries can have significant economic impact. ## Related terms - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [Travel Rule](https://fudfomo.co/glossary/travel-rule): A regulation that requires crypto firms to share sender and recipient information when transferring above a threshold. - [VASP](https://fudfomo.co/glossary/vasp): Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # FCA > The UK's Financial Conduct Authority. The regulator that authorises crypto firms in the UK. Canonical URL: https://fudfomo.co/glossary/fca Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The Financial Conduct Authority, or FCA, is the regulator for financial services in the United Kingdom. It runs the registration regime for UK crypto firms under anti-money-laundering rules and oversees promotions of crypto assets to consumers. Firms that want to offer crypto services to UK customers need to either be FCA-registered or rely on a narrow set of exemptions. The FCA also publishes warnings about unregistered firms and high-risk products. ## Regulatory context The UK's framework for crypto is being expanded beyond AML registration into a fuller authorisation regime over 2025 and 2026. ## Related terms - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [MiCA](https://fudfomo.co/glossary/mica): The Markets in Crypto-Assets regulation. The European Union's main rulebook for crypto firms. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Finality > The point at which a transaction is considered settled and unlikely to be reversed. Canonical URL: https://fudfomo.co/glossary/finality Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Finality describes how confident you can be that a transaction will not be undone. Some networks have probabilistic finality: with each new block, the chance of reversal shrinks but never reaches zero. Others have economic or cryptographic finality, where reversing a confirmed transaction would require destroying enormous value or breaking the maths. Different chains and rollups have very different finality times, which matters for bridges and exchanges. ## Related terms - [Confirmation](https://fudfomo.co/glossary/confirmation): A measure of how many blocks have been added on top of a transaction's block. More confirmations mean stronger settlement. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Immutable](https://fudfomo.co/glossary/immutable): Cannot be changed once recorded. The standard property of confirmed blockchain history. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # FinCEN > The US Financial Crimes Enforcement Network. The agency that enforces anti-money-laundering rules in the United States. Canonical URL: https://fudfomo.co/glossary/fincen Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition FinCEN, the Financial Crimes Enforcement Network, is the part of the US Treasury that enforces anti-money-laundering rules. Crypto exchanges and money transmitters operating in the US generally have to register with FinCEN, run KYC programmes, and file suspicious activity reports. FinCEN also publishes guidance on how its rules apply to crypto and runs sanctions enforcement together with OFAC. ## Regulatory context FinCEN registration is separate from any state-level money transmitter licensing. Most US-facing crypto firms need both. ## Related terms - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [Sanctions Screening](https://fudfomo.co/glossary/sanctions-screening): Checking that the people and addresses involved in a transaction are not on a sanctions list. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Flash Loan > A loan that is borrowed and repaid inside a single blockchain transaction. No collateral needed. Canonical URL: https://fudfomo.co/glossary/flash-loan Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A flash loan lets you borrow a large amount of crypto without putting up collateral, on one strict condition: you must pay it back within the same transaction. If you do not, the entire transaction reverts and it is as if it never happened. Flash loans are useful for arbitrage and refinancing, but they have also been used in attacks that exploit price oracles or pricing bugs in DeFi protocols. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Oracle](https://fudfomo.co/glossary/oracle): A service that brings outside information, like prices or sports scores, onto a blockchain. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # FOMO > Fear of missing out. The feeling that drives people to buy after a price has already moved a lot. Canonical URL: https://fudfomo.co/glossary/fomo Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition FOMO stands for fear of missing out. It is the urge to chase an asset that has already risen sharply, on the worry that the move will continue without you. FOMO buyers tend to enter near local tops and sell near local bottoms, which is the opposite of what works over time. Good risk discipline, like fixed position sizes and pre-decided rules, is the standard defence. ## Related terms - [FUD](https://fudfomo.co/glossary/fud): Fear, uncertainty, and doubt. Used to describe negative information, real or otherwise, that hurts confidence. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Fork > A change to a blockchain's rules. Sometimes minor, sometimes big enough to split the network in two. Canonical URL: https://fudfomo.co/glossary/fork Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A fork is any update to a blockchain's rules. A small change that everyone agrees on is called a soft fork. A larger change that is not backwards compatible is called a hard fork. If the community is split on a hard fork, the chain itself can split into two separate networks, each with its own coin going forward. Bitcoin Cash splitting from Bitcoin in 2017 is a famous example. ## Related terms - [Hard Fork](https://fudfomo.co/glossary/hard-fork): A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. - [Soft Fork](https://fudfomo.co/glossary/soft-fork): A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Fraud Proof > Evidence that an optimistic rollup batch was invalid, used to roll back the bad batch. Canonical URL: https://fudfomo.co/glossary/fraud-proof Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A fraud proof is the mechanism that keeps optimistic rollups honest. During the challenge window, anyone watching the rollup can submit a proof that a posted batch contains an invalid transaction. The main chain re-runs the disputed step, and if the challenge is correct, the batch is reverted and the operator loses their bond. Fraud proofs only work if at least one honest party is watching, which is why optimistic rollups assume the existence of an active community of verifiers. ## Related terms - [Optimistic Rollup](https://fudfomo.co/glossary/optimistic-rollup): A type of layer 2 that assumes batches are valid by default and lets anyone challenge them. - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Front-Running > Profiting by placing your own transaction ahead of someone else's pending trade. Canonical URL: https://fudfomo.co/glossary/front-running Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Front-running is the practice of seeing a pending transaction in the public mempool and racing to place your own transaction in front of it for profit. In crypto, this usually involves bots that watch DEX trades and insert orders that benefit from the price impact of the original. It is the most common form of MEV. Many wallets and aggregators now route through private channels to limit exposure. ## Related terms - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. - [Sandwich Attack](https://fudfomo.co/glossary/sandwich-attack): A specific MEV trade where a bot places one order before and one after your trade to extract value. - [Mempool](https://fudfomo.co/glossary/mempool): The waiting area where pending transactions sit before they are included in a block. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # FUD > Fear, uncertainty, and doubt. Used to describe negative information, real or otherwise, that hurts confidence. Canonical URL: https://fudfomo.co/glossary/fud Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition FUD stands for fear, uncertainty, and doubt. In crypto it usually labels negative news, claims, or social media posts about a coin or platform. The accusation can be fair or unfair: some FUD points to real problems, while some is simply uncomfortable information for holders. The best response to FUD is to read it carefully and decide whether the underlying facts hold up, not just to dismiss it. ## Related terms - [FOMO](https://fudfomo.co/glossary/fomo): Fear of missing out. The feeling that drives people to buy after a price has already moved a lot. - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Funding Rate > A periodic payment between long and short perpetual futures traders that keeps the contract close to spot. Canonical URL: https://fudfomo.co/glossary/funding-rate Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The funding rate is the mechanism that keeps a perpetual futures contract anchored to the underlying spot price. When the perp trades above spot, longs pay shorts; when it trades below, shorts pay longs. Payments happen every few hours and are calculated as a percentage of position size. A high positive funding rate signals that traders are aggressively long. A persistently negative one signals heavy bearish positioning. ## Related terms - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Basis](https://fudfomo.co/glossary/basis): The difference between the spot price of an asset and its futures price. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Futures > A contract to buy or sell an asset at a fixed price on a future date. Canonical URL: https://fudfomo.co/glossary/futures Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A futures contract is an agreement to trade an asset at a set price at a specific date in the future. They let traders hedge exposure or speculate on price moves without holding the underlying. In crypto, dated futures exist alongside the more popular perpetuals. Futures are usually traded with leverage, which amplifies both gains and losses. ## Regulatory context Crypto futures are heavily regulated in many countries, with different rules for retail and institutional access. ## Related terms - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Basis](https://fudfomo.co/glossary/basis): The difference between the spot price of an asset and its futures price. - [Options](https://fudfomo.co/glossary/options): A contract that gives the buyer the right, but not the obligation, to buy or sell at a set price by a set date. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Gas > The unit a blockchain uses to measure how much work a transaction takes. Canonical URL: https://fudfomo.co/glossary/gas Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Gas is the way blockchains like Ethereum measure computational effort. A simple transfer uses a small amount of gas, while a complex DeFi swap uses more. You pay for that gas in the network's own coin. The total fee depends on how much gas the action needs and how busy the network is at the time. ## Related terms - [Gas Fee](https://fudfomo.co/glossary/gas-fee): The cost of getting your transaction included on the blockchain. Goes to the people who run the network. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Gas Fee > The cost of getting your transaction included on the blockchain. Goes to the people who run the network. Canonical URL: https://fudfomo.co/glossary/gas-fee Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A gas fee is what you actually pay to send a transaction. It rewards the validators or miners who include it in the next block. When the network is busy, fees go up because everyone is bidding for limited space. Layer 2 networks were built to keep these fees low by handling activity off the main chain. ## Related terms - [Gas](https://fudfomo.co/glossary/gas): The unit a blockchain uses to measure how much work a transaction takes. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Genesis Block > The very first block of a blockchain. Canonical URL: https://fudfomo.co/glossary/genesis-block Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The genesis block is the first block in any blockchain and the only one not built on top of a previous block. Bitcoin's genesis block was mined in January 2009 and famously contains a newspaper headline in its data. Networks often hard-code the genesis block into their software, so every node starts from exactly the same point. ## Related terms - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Block Height](https://fudfomo.co/glossary/block-height): The number of blocks that have been added to a blockchain since its very first one. - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Governance Token > A token that gives you the right to vote on changes to a crypto project, usually a DAO. Canonical URL: https://fudfomo.co/glossary/governance-token Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A governance token represents voting power inside a project, most often a DAO or DeFi protocol. The more you hold, the more weight your vote carries on proposals. Governance tokens are usually distinct from a project's stablecoin or payment token. Some pay no income at all; their value is purely the right to influence decisions. How much that is worth depends on how active and credible governance actually is. ## Related terms - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Halving > An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. Canonical URL: https://fudfomo.co/glossary/halving Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A halving is when Bitcoin's block reward is cut in half. It happens roughly every four years, after every 210,000 blocks are mined. The halving slows the rate at which new bitcoin is created, which is why people often discuss it in connection with Bitcoin's price. Other proof-of-work coins have similar events on their own schedules. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Hard Fork > A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. Canonical URL: https://fudfomo.co/glossary/hard-fork Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A hard fork changes a blockchain's rules in a way that older versions of the software cannot accept. Everyone running the network has to upgrade, or they end up on a different chain. Most hard forks are coordinated upgrades that everyone agrees to. A contested hard fork can permanently split a network into two, each going its own way from the same shared history. ## Related terms - [Fork](https://fudfomo.co/glossary/fork): A change to a blockchain's rules. Sometimes minor, sometimes big enough to split the network in two. - [Soft Fork](https://fudfomo.co/glossary/soft-fork): A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Hash > A short fingerprint of any piece of data, produced by a one-way mathematical function. Canonical URL: https://fudfomo.co/glossary/hash Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A hash is the fixed-length output of a cryptographic function applied to some input. Hashes are easy to compute one way and effectively impossible to reverse. They are used everywhere in crypto: linking blocks together, addressing data, signing transactions, and producing proofs. Even the smallest change to the input produces a wildly different hash, which is what makes them useful for detecting tampering. ## Related terms - [Hash Rate](https://fudfomo.co/glossary/hash-rate): How much total computing power is securing a proof-of-work network like Bitcoin. - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Merkle Tree](https://fudfomo.co/glossary/merkle-tree): A way of summarising many pieces of data into a single hash, used to prove a single piece of data is in the set. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Hash Rate > How much total computing power is securing a proof-of-work network like Bitcoin. Canonical URL: https://fudfomo.co/glossary/hash-rate Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Hash rate measures how many guesses per second the entire network of mining computers is making in its search for the next block. Higher hash rate means more competition and more security. A falling hash rate can be a sign that mining is no longer profitable for some operators, often after a price drop. A sharp rise can mean new hardware coming online. ## Related terms - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Honeypot > A token or contract designed to lure buyers in and then prevent them from selling. Canonical URL: https://fudfomo.co/glossary/honeypot Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A honeypot is a malicious token or contract that is built to look attractive but trap any funds that enter it. A common pattern is a token contract that lets people buy but blocks sales unless the address is on an allow-list. The price chart looks healthy because nobody can actually exit. Tools that simulate sales before you buy can help spot honeypots, but the safest approach is to be very cautious with new tokens from unknown teams. ## Related terms - [Rug Pull](https://fudfomo.co/glossary/rug-pull): A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Exit Scam](https://fudfomo.co/glossary/exit-scam): When the people running a project disappear with users' money. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Hot Wallet > A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances. Canonical URL: https://fudfomo.co/glossary/hot-wallet Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A hot wallet is any wallet that is connected to the internet, such as a mobile app, a browser extension, or a wallet built into an exchange. Hot wallets are easy to use and good for the money you spend or trade often. Because they are online, they are also more exposed to phishing, malware, and scams, so most people pair a hot wallet for daily use with cold storage for larger holdings. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Howey Test > A US legal test for deciding whether something counts as an investment contract, and so a security. Canonical URL: https://fudfomo.co/glossary/howey-test Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The Howey Test comes from a 1946 US Supreme Court case. It defines an investment contract as an investment of money in a common enterprise with an expectation of profit derived from the efforts of others. Regulators and courts use the Howey Test to decide whether a particular crypto token or sale should be treated as a security. If it is, the strict rules around securities offerings and trading apply. ## Regulatory context The Howey Test is just one part of US securities law and only applies in the United States. Other countries use different tests. ## Related terms - [Securities](https://fudfomo.co/glossary/securities): A regulated category of financial instrument, like shares or bonds. Tokens that meet the test are subject to strict rules. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. - [ICO](https://fudfomo.co/glossary/ico): Initial coin offering. An early sale where a project raises money by selling its new token. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ICO > Initial coin offering. An early sale where a project raises money by selling its new token. Canonical URL: https://fudfomo.co/glossary/ico Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition ICO stands for initial coin offering. It is a way for a crypto project to raise money by selling its token to the public, usually before the product is finished. ICOs were extremely common in 2017 and led to a lot of regulatory action when many projects failed or turned out to be scams. Today, similar fundraises happen under different names and are heavily watched by regulators. ## Regulatory context In many jurisdictions a token sale can count as an offering of securities, with strict registration and disclosure requirements. Always verify the legal status before participating. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Whitepaper](https://fudfomo.co/glossary/whitepaper): A document that explains how a crypto project works and why it should exist. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Immutable > Cannot be changed once recorded. The standard property of confirmed blockchain history. Canonical URL: https://fudfomo.co/glossary/immutable Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Immutable means cannot be altered. Once a transaction is included in a confirmed block on a healthy blockchain, the cost of rewriting it grows quickly with each new block on top. In practice, this is what makes a blockchain useful for ownership records: nobody can quietly edit the past. Off-chain data linked from the chain, like NFT images stored elsewhere, may not share the same property. ## Related terms - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. - [Finality](https://fudfomo.co/glossary/finality): The point at which a transaction is considered settled and unlikely to be reversed. - [Confirmation](https://fudfomo.co/glossary/confirmation): A measure of how many blocks have been added on top of a transaction's block. More confirmations mean stronger settlement. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Impermanent Loss > A paper loss that liquidity providers see when the prices of their pooled tokens move apart. Canonical URL: https://fudfomo.co/glossary/impermanent-loss Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Impermanent loss is the difference between holding two tokens in your wallet and supplying them to a liquidity pool. When the prices move relative to each other, the pool rebalances, and you end up with a different mix than you started with. The loss is called impermanent because it only locks in if you withdraw while the prices are out of sync. Trading fees from the pool are meant to compensate for it, but on volatile pairs the loss can outpace the fees. ## Related terms - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [AMM](https://fudfomo.co/glossary/amm): Automated market maker. The smart contract behind a DEX that prices trades based on the size of two token pools. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # KYC > Know Your Customer. The identity checks an exchange runs before letting you trade. Canonical URL: https://fudfomo.co/glossary/kyc Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition KYC stands for Know Your Customer. It is the set of checks regulated platforms run to confirm that you are who you say you are: ID documents, a selfie, and sometimes proof of address. KYC is a legal requirement for most regulated crypto exchanges in the UK, EU, US, and many other markets. Platforms that do not run KYC often cannot serve customers in those regions. ## Regulatory context KYC requirements differ by jurisdiction and by service type. Always check what an exchange is authorised to do where you live. ## Related terms - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Layer 1 > The base blockchain itself, like Bitcoin or Ethereum. The foundation everything else builds on. Canonical URL: https://fudfomo.co/glossary/layer-1 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A layer 1 is a base blockchain that has its own security and its own coin. Bitcoin, Ethereum, and Solana are all layer 1s. Layer 1s settle their own transactions and do not rely on another chain to be secure. The trade-off is that they often cost more or run slower at peak times, which is why layer 2s exist. ## Related terms - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Layer 2 > A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. Canonical URL: https://fudfomo.co/glossary/layer-2 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A layer 2 is a network that processes transactions off the main chain and then posts proofs back to it. The most common kind on Ethereum is called a rollup. The goal is to give users much lower fees and faster confirmations while still inheriting the security of the layer 1 underneath. To use a layer 2, you usually move funds across a bridge. ## Related terms - [Layer 1](https://fudfomo.co/glossary/layer-1): The base blockchain itself, like Bitcoin or Ethereum. The foundation everything else builds on. - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Bridge](https://fudfomo.co/glossary/bridge): A tool that lets you move tokens from one blockchain to another. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Lending Protocol > A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. Canonical URL: https://fudfomo.co/glossary/lending-protocol Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A lending protocol is a smart contract platform where you can either supply assets to earn interest or borrow against your own assets as collateral. Rates are set by the balance of supply and demand inside each pool, not by a central manager. The largest lending protocols hold billions of dollars of deposits. They are a core piece of DeFi but inherit risks from oracle pricing, liquidations, and underlying smart contract bugs. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Collateral](https://fudfomo.co/glossary/collateral): An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. - [Liquidation](https://fudfomo.co/glossary/liquidation): When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. - [Vault](https://fudfomo.co/glossary/vault): A DeFi smart contract that automates a strategy on behalf of depositors. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Leverage > Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. Canonical URL: https://fudfomo.co/glossary/leverage Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Leverage lets you take a position larger than your own capital by borrowing the rest. A leverage of 10x means a 1 percent price move changes your position by 10 percent, in either direction. Higher leverage means a smaller adverse move can liquidate the entire position. Crypto exchanges have offered eye-watering leverage of 100x or more, which is one reason regulators have moved to limit it for retail customers. ## Regulatory context Maximum leverage for retail customers is capped in the UK, EU, and several other markets. ## Related terms - [Margin](https://fudfomo.co/glossary/margin): The capital you put up to open and maintain a leveraged position. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Liquidation](https://fudfomo.co/glossary/liquidation): When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. - [Long](https://fudfomo.co/glossary/long): A position that profits when the price goes up. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Lightning Network > A layer 2 for Bitcoin that lets users send fast, cheap payments through a network of payment channels. Canonical URL: https://fudfomo.co/glossary/lightning-network Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The Lightning Network is a layer 2 built on top of Bitcoin. It uses payment channels to let users send tiny payments instantly, without each one being recorded on the main chain. Funds are moved across a network of channels, with each hop taking a small fee. Lightning makes Bitcoin practical for everyday payments and remittances, with the trade-off that the user experience is more complex than a simple on-chain send. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [State Channel](https://fudfomo.co/glossary/state-channel): A way for two or more users to transact off-chain and only settle the final balance on the main chain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Liquid Staking > Staking your coins through a service that gives you a tradable token in return. Canonical URL: https://fudfomo.co/glossary/liquid-staking Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Liquid staking lets you stake a proof-of-stake coin like ETH while still holding something you can sell or use elsewhere. You deposit the coin with a service or smart contract, and in return you receive a derivative token that represents your stake plus accrued rewards. The derivative can be traded, used as collateral, or supplied to other DeFi apps. The trade-offs are smart contract risk and the chance that the derivative token slips below the price of the underlying. ## Related terms - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [Restaking](https://fudfomo.co/glossary/restaking): Reusing already-staked coins as security for additional services, usually for extra yield. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Liquidation > When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. Canonical URL: https://fudfomo.co/glossary/liquidation Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Liquidation happens in DeFi lending and on margin platforms when the value of your collateral drops too close to the value of what you borrowed. To protect lenders, the protocol or exchange sells your collateral, often at a small discount, to repay the loan. Liquidations can cascade in falling markets as forced selling pushes prices down further, triggering more liquidations. Keeping a buffer between your collateral and the liquidation threshold is a basic part of risk management. ## Related terms - [Collateral](https://fudfomo.co/glossary/collateral): An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Margin](https://fudfomo.co/glossary/margin): The capital you put up to open and maintain a leveraged position. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Liquidity Pool > A shared pot of two tokens that lets people trade between them on a decentralised exchange. Canonical URL: https://fudfomo.co/glossary/liquidity-pool Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A liquidity pool is a smart contract that holds a pair of tokens, for example ETH and USDC. People who supply tokens to the pool earn a small fee from every trade that goes through it. When you trade against a pool, the price changes based on how much you take out compared to what is left. Big trades on small pools can move the price a lot, which is why slippage matters. ## Related terms - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Long > A position that profits when the price goes up. Canonical URL: https://fudfomo.co/glossary/long Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Going long means buying an asset, or a contract that tracks it, in expectation that the price will rise. If the price goes up, you make money; if it falls, you lose. The opposite of going long is going short. Most spot crypto holders are long by default just by owning the coin. Leverage can multiply both the size and the risk of a long position. ## Related terms - [Short](https://fudfomo.co/glossary/short): A position that profits when the price goes down. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # LP Token > A receipt token you get for depositing into a liquidity pool. It tracks your share of the pool. Canonical URL: https://fudfomo.co/glossary/lp-token Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An LP token, short for liquidity provider token, is what a DEX gives you when you supply tokens to one of its pools. The LP token records the size of your share, including any fees that have accumulated. You burn the LP token to withdraw your share of the underlying tokens. Some DeFi protocols accept LP tokens as collateral or pay extra rewards for staking them, which is one of the ways yield farming works. ## Related terms - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Margin > The capital you put up to open and maintain a leveraged position. Canonical URL: https://fudfomo.co/glossary/margin Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Margin is the collateral that backs a leveraged trade. Initial margin is what you need to open the position; maintenance margin is what you have to keep posted to avoid liquidation. If the position moves against you and your margin falls below the maintenance level, the exchange will start liquidating until you top up or the position is closed. Cross margin pools the margin across all positions, while isolated margin walls each position off. ## Related terms - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Liquidation](https://fudfomo.co/glossary/liquidation): When a borrower's collateral is sold off automatically because their loan has fallen below the safety threshold. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Collateral](https://fudfomo.co/glossary/collateral): An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Market Cap > The current price of a coin multiplied by how many are in circulation. A rough size measure. Canonical URL: https://fudfomo.co/glossary/market-cap Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Market capitalisation, or market cap, is calculated as the current price times the circulating supply. It is the standard way to compare the size of one cryptocurrency to another. Market cap is not the same as the amount of money put into a project, and it can change quickly with the price. A small token with a low circulating supply can show a huge fully diluted valuation that is unlikely to ever be realised. ## Related terms - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Total Supply](https://fudfomo.co/glossary/total-supply): The maximum number of coins or tokens that will ever exist for a project. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Market Maker > A participant who quotes both buy and sell prices, providing liquidity in exchange for a small spread. Canonical URL: https://fudfomo.co/glossary/market-maker Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A market maker is a trader, firm, or smart contract that continuously quotes a price to both buy and sell. Their job is to keep liquidity available so other people can always trade. In return they earn the bid-ask spread and sometimes incentive payments from the venue. On centralised exchanges, market makers are usually professional trading firms. On DEXes, the role is played by liquidity pools and the people who fund them. ## Related terms - [Bid-Ask Spread](https://fudfomo.co/glossary/bid-ask-spread): The gap between the highest price buyers will pay and the lowest price sellers will accept. - [Order Book](https://fudfomo.co/glossary/order-book): A live list of buy and sell orders at different prices on an exchange. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [AMM](https://fudfomo.co/glossary/amm): Automated market maker. The smart contract behind a DEX that prices trades based on the size of two token pools. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Memecoin > A token whose value comes mostly from internet culture rather than any underlying product. Canonical URL: https://fudfomo.co/glossary/memecoin Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A memecoin is a token built around a joke, image, or community rather than a specific product. Some memecoins have grown into large markets in their own right, while others spike briefly and collapse. Most memecoins are highly speculative. They can be entertaining and they can be expensive lessons. Position sizing, not picking the right one, is what tends to keep people from getting hurt. ## Regulatory context Memecoins may still count as regulated securities or commodities depending on how they are sold, despite their joke origins. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Rug Pull](https://fudfomo.co/glossary/rug-pull): A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Mempool > The waiting area where pending transactions sit before they are included in a block. Canonical URL: https://fudfomo.co/glossary/mempool Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The mempool, short for memory pool, is a node's local list of pending transactions that have been broadcast but not yet included in a block. When the network is busy, the mempool grows and only the highest-fee transactions get picked up quickly. The mempool is also the front-running playground: bots watch new transactions land in it and react in milliseconds. Some chains and rollups now offer private mempools to mitigate this. ## Related terms - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Gas Fee](https://fudfomo.co/glossary/gas-fee): The cost of getting your transaction included on the blockchain. Goes to the people who run the network. - [Front-Running](https://fudfomo.co/glossary/front-running): Profiting by placing your own transaction ahead of someone else's pending trade. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Merkle Tree > A way of summarising many pieces of data into a single hash, used to prove a single piece of data is in the set. Canonical URL: https://fudfomo.co/glossary/merkle-tree Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A Merkle tree is a tree of hashes. Pairs of data are hashed together, then those hashes are paired and hashed again, and so on, all the way up to a single root hash. Anyone with the root and a small number of intermediate hashes can prove a piece of data was part of the original set without needing the full set. Blockchains use Merkle trees to summarise transactions and account states efficiently. ## Related terms - [Hash](https://fudfomo.co/glossary/hash): A short fingerprint of any piece of data, produced by a one-way mathematical function. - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # MEV > Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. Canonical URL: https://fudfomo.co/glossary/mev Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition MEV originally meant 'miner extractable value' and is now usually called 'maximal extractable value'. It refers to profit that the party producing a block can squeeze out by carefully choosing the order of transactions. For regular users, MEV often shows up as worse prices on swaps. Bots spot a pending trade and place their own around it. Many wallets and DEX aggregators now offer MEV protection to limit this. ## Related terms - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # MiCA > The Markets in Crypto-Assets regulation. The European Union's main rulebook for crypto firms. Canonical URL: https://fudfomo.co/glossary/mica Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition MiCA, short for Markets in Crypto-Assets, is the European Union's framework for regulating most crypto activity. It sets out licensing rules for issuers and service providers, reserve and disclosure requirements for stablecoins, and consumer protection standards across the bloc. MiCA started rolling out in 2024 and 2025. Firms that want to serve EU customers generally need either a MiCA licence or a recognised passport from another member state. ## Regulatory context MiCA applies across all 27 EU member states. National regulators handle authorisation, with the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) coordinating. ## Related terms - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [VASP](https://fudfomo.co/glossary/vasp): Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Mining > Using computers to add new transactions to a blockchain and earn newly created coins as a reward. Canonical URL: https://fudfomo.co/glossary/mining Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Mining is the process that secures networks like Bitcoin. Computers around the world race to solve a hard maths puzzle. The winner gets to add the next block of transactions to the chain and is paid in newly minted coins plus the fees from those transactions. Mining requires real electricity and specialised hardware, which is why people sometimes talk about Bitcoin's energy use. Networks that use proof of stake do not need mining in this sense. ## Related terms - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Hash Rate](https://fudfomo.co/glossary/hash-rate): How much total computing power is securing a proof-of-work network like Bitcoin. - [Halving](https://fudfomo.co/glossary/halving): An event where the reward for mining new Bitcoin blocks is cut in half. Happens roughly every four years. - [Node](https://fudfomo.co/glossary/node): A computer that helps run a blockchain by storing the ledger and checking new transactions. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Modular Blockchain > A blockchain design that splits responsibilities across separate, specialised layers. Canonical URL: https://fudfomo.co/glossary/modular-blockchain Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A modular blockchain breaks the work of running a chain into separate pieces: execution, settlement, consensus, and data availability. Each piece can be handled by a different network, optimised for its job. The opposite is a monolithic blockchain, like Bitcoin, that does all of these things itself. The modular approach is meant to give better scalability, with the trade-off that more moving parts can introduce more dependencies. ## Related terms - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Data Availability](https://fudfomo.co/glossary/data-availability): The guarantee that the data behind a block can actually be read and reconstructed by anyone. - [Layer 1](https://fudfomo.co/glossary/layer-1): The base blockchain itself, like Bitcoin or Ethereum. The foundation everything else builds on. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Money Market > A market for short-term borrowing and lending of low-risk assets. In crypto, often a stablecoin lending pool. Canonical URL: https://fudfomo.co/glossary/money-market Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition In traditional finance, a money market deals in very short-term, low-risk lending and borrowing. In crypto, the term usually points at lending protocols for stablecoins and major assets, where rates reset constantly based on usage. Crypto money markets do not have the same safeguards as their bank equivalents. Yields can be higher, but so can the risks attached to the underlying tokens, the contracts, and the price oracles in use. ## Related terms - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [Collateral](https://fudfomo.co/glossary/collateral): An asset you lock up to back a loan. If the loan is not repaid, the collateral can be taken. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Multi-sig > A wallet that needs more than one signature to move funds. Common for companies and treasuries. Canonical URL: https://fudfomo.co/glossary/multi-sig Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Multi-sig is short for multi-signature. It is a setup where moving funds out of a wallet requires approval from several keys, not just one. A common pattern is two-of-three or three-of-five. Multi-sig is widely used by companies, DAOs, and serious individual holders. It removes the single point of failure of one private key, at the cost of slightly slower workflows. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # NFT > A token that represents ownership of a unique item, like a piece of digital art or a ticket. Canonical URL: https://fudfomo.co/glossary/nft Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition NFT stands for non-fungible token. The non-fungible part means each one is unique and cannot be swapped one-for-one for another, the way a five-pound note can be swapped for any other five-pound note. NFTs are used for digital art, music, in-game items, event tickets, and ownership records. Buying an NFT does not always mean you own the underlying copyright. It usually means you own a record on the blockchain that points to the item. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Node > A computer that helps run a blockchain by storing the ledger and checking new transactions. Canonical URL: https://fudfomo.co/glossary/node Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A node is any computer that is plugged into a blockchain network. Full nodes keep a complete copy of the ledger and check every transaction against the rules. The more independent nodes a blockchain has, the harder it is for any one party to bend the rules. Anyone with a regular computer and an internet connection can usually run one. ## Related terms - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Nonce > A number used once. In mining it is the value miners search for; in transactions it stops the same one being processed twice. Canonical URL: https://fudfomo.co/glossary/nonce Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Nonce is short for number used once. In proof-of-work mining, it is the value miners change as they search for a block hash that meets the target. In account-based chains like Ethereum, every transaction from an address has a sequential nonce, which makes sure transactions are processed in order and that the same one cannot be replayed. If a nonce is wrong, the transaction will not even be accepted into the mempool. ## Related terms - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Proof of Work](https://fudfomo.co/glossary/proof-of-work): A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. - [Transaction](https://fudfomo.co/glossary/transaction): An instruction recorded on a blockchain that moves value or runs a smart contract. - [Hash](https://fudfomo.co/glossary/hash): A short fingerprint of any piece of data, produced by a one-way mathematical function. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Open Interest > The total value of outstanding derivatives contracts at a given moment. Canonical URL: https://fudfomo.co/glossary/open-interest Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Open interest is the total dollar value of futures or options contracts that are currently open, on either side of the trade. Unlike trading volume, which counts every contract that changes hands, open interest only counts positions still active. Rising open interest with rising price suggests new money is taking long positions. Falling open interest in a sharp move often points to liquidations rather than fresh buying or selling. ## Related terms - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Optimistic Rollup > A type of layer 2 that assumes batches are valid by default and lets anyone challenge them. Canonical URL: https://fudfomo.co/glossary/optimistic-rollup Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An optimistic rollup posts batches of transactions back to its layer 1 with the assumption that they are correct. There is a challenge window, often a week, during which anyone can submit a fraud proof if they spot a bad batch. If a fraud proof succeeds, the bad batch is rolled back and the operator is penalised. The trade-off is that withdrawing funds back to the main chain takes the length of that challenge window. ## Related terms - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Fraud Proof](https://fudfomo.co/glossary/fraud-proof): Evidence that an optimistic rollup batch was invalid, used to roll back the bad batch. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Options > A contract that gives the buyer the right, but not the obligation, to buy or sell at a set price by a set date. Canonical URL: https://fudfomo.co/glossary/options Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An option is a contract giving the buyer the right to buy (a call) or sell (a put) an asset at a set strike price on or before a set expiry date. The buyer pays a premium up front; the seller takes on the obligation if the option is exercised. Crypto options are growing in popularity for hedging and yield strategies. They are more complex than spot or futures and pricing them well requires understanding of volatility. ## Regulatory context Options are restricted to qualified or institutional investors in many jurisdictions. ## Related terms - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Oracle > A service that brings outside information, like prices or sports scores, onto a blockchain. Canonical URL: https://fudfomo.co/glossary/oracle Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An oracle is a service that feeds real-world data into smart contracts. Blockchains by themselves cannot see external information, so contracts that need to react to a price, a weather event, or a sports result rely on oracles. A bad or manipulated oracle can break a contract that depends on it. Major DeFi protocols spend a lot of effort choosing oracle providers and combining several feeds for safety. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Order Book > A live list of buy and sell orders at different prices on an exchange. Canonical URL: https://fudfomo.co/glossary/order-book Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An order book is the central data structure on a traditional exchange. It shows every outstanding buy and sell order, sorted by price, and updates in real time as new orders arrive and existing ones are filled or cancelled. Centralised crypto exchanges use order books, and so do a small number of on-chain DEXes. The depth of the book at each price level is a basic measure of how much you can trade without moving the price. ## Related terms - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Market Maker](https://fudfomo.co/glossary/market-maker): A participant who quotes both buy and sell prices, providing liquidity in exchange for a small spread. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # OTC Desk > An over-the-counter trading desk that matches large crypto buyers and sellers off the public exchanges. Canonical URL: https://fudfomo.co/glossary/otc-desk Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition An over-the-counter, or OTC, desk arranges large crypto trades privately, away from public exchanges. Institutions and high-net-worth individuals use them to move size without moving the visible market price. OTC desks quote a single price for the whole trade, settle directly between the two parties, and often offer block trading and credit lines. The trade-off is that you have to trust the desk and its counterparties. ## Related terms - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Permissionless > A property of a system where anyone can use it or join without asking permission. Canonical URL: https://fudfomo.co/glossary/permissionless Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A permissionless system lets anyone connect, transact, or build on it without first signing up or being approved. Bitcoin and Ethereum are permissionless: you can run a node, hold a wallet, or deploy a contract without identifying yourself. Permissionless does not mean lawless. Local rules still apply, especially when funds touch regulated services like exchanges or fiat on-ramps. ## Related terms - [Trustless](https://fudfomo.co/glossary/trustless): A system where users do not need to trust each other or a central party for it to work as expected. - [Decentralised](https://fudfomo.co/glossary/decentralised): Spread across many independent participants, with no single point of control. - [Immutable](https://fudfomo.co/glossary/immutable): Cannot be changed once recorded. The standard property of confirmed blockchain history. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Perpetual Futures > A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. Canonical URL: https://fudfomo.co/glossary/perpetual-futures Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A perpetual future, often shortened to perp, is a futures contract that does not expire. Traders can hold a long or short position for as long as their margin allows. To stop the perp price drifting away from the spot price, the contract uses a periodic funding rate that one side pays the other. Perps are popular because they let traders take leveraged positions on crypto without having to roll contracts. ## Regulatory context Perpetual futures are restricted or banned for retail customers in several jurisdictions, including the UK and parts of the EU. ## Related terms - [Funding Rate](https://fudfomo.co/glossary/funding-rate): A periodic payment between long and short perpetual futures traders that keeps the contract close to spot. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Margin](https://fudfomo.co/glossary/margin): The capital you put up to open and maintain a leveraged position. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Phishing > A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. Canonical URL: https://fudfomo.co/glossary/phishing Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Phishing in crypto usually means a fake email, message, or website that looks like a trusted exchange, wallet, or project. The aim is to get you to type in a seed phrase, paste a private key, or sign a transaction that drains your wallet. Common warning signs include slightly misspelled domain names, urgent messages claiming your account is at risk, and links to airdrops you never asked for. ## Related terms - [Approval Phishing](https://fudfomo.co/glossary/approval-phishing): A scam where you sign a transaction that grants an attacker permission to move tokens out of your wallet. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Dusting Attack](https://fudfomo.co/glossary/dusting-attack): Sending tiny amounts of crypto to many wallets to track or de-anonymise their owners. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Pig Butchering > A long-running scam that builds a fake personal relationship before steering the victim into fraudulent crypto investments. Canonical URL: https://fudfomo.co/glossary/pig-butchering Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Pig butchering is a slow scam that often starts on dating apps, social media, or messaging platforms. The scammer spends weeks or months building trust before introducing a fake crypto investment platform that shows fictional gains and finally locks the victim out when they try to withdraw. The scam is industrial in scale, often run from compounds where the operators are themselves victims of trafficking. The safest defence is treating any crypto pitch from someone you only know online as suspect. ## Regulatory context Many jurisdictions now run dedicated task forces against pig butchering. Reporting promptly improves the chance of even partial recovery. ## Related terms - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Exit Scam](https://fudfomo.co/glossary/exit-scam): When the people running a project disappear with users' money. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Private Key > A secret string of characters that proves you own a crypto address. Anyone who sees it can spend your funds. Canonical URL: https://fudfomo.co/glossary/private-key Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A private key is a long secret number, usually shown as a string of letters and digits. It is what your wallet uses to sign transactions and prove that funds belong to you. If someone else gets your private key, they can move your crypto and you cannot reverse it. Wallets usually hide the raw key behind a password or a seed phrase so you do not have to handle it directly. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Public Key](https://fudfomo.co/glossary/public-key): An address-like value that other people use to send you crypto. Safe to share. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Proof of Stake > A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. Canonical URL: https://fudfomo.co/glossary/proof-of-stake Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Proof of stake replaces mining computers with validators who lock up coins as collateral. The network picks validators in turn to confirm new blocks, and they are paid for doing so. If a validator approves something invalid, part of their stake is destroyed. This makes attacks expensive without using as much electricity as proof of work. ## Related terms - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Proof of Work > A way to secure a blockchain by making computers do a lot of calculation. Used by Bitcoin. Canonical URL: https://fudfomo.co/glossary/proof-of-work Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Proof of work is the original method for keeping a blockchain honest. Computers compete to find a solution to a puzzle, and the winner gets to confirm the next block of transactions. The puzzle is hard to solve but easy to check, so everyone else can quickly verify the answer. This is what makes attacking the network expensive: you would need more computing power than everyone else combined. ## Related terms - [Mining](https://fudfomo.co/glossary/mining): Using computers to add new transactions to a blockchain and earn newly created coins as a reward. - [Hash Rate](https://fudfomo.co/glossary/hash-rate): How much total computing power is securing a proof-of-work network like Bitcoin. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Pseudonymous > Identified by an address rather than a real name, but still trackable on chain. Canonical URL: https://fudfomo.co/glossary/pseudonymous Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Pseudonymous is the right word for most crypto activity. You are not anonymous: every transaction you send is linked to a wallet address that is permanently visible on chain. You may or may not be linked to a real-world identity, depending on whether you have ever connected the address to a regulated service. Skilled chain analysts can build detailed profiles by following the flow of funds. ## Related terms - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Public Key > An address-like value that other people use to send you crypto. Safe to share. Canonical URL: https://fudfomo.co/glossary/public-key Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A public key is the partner of your private key. It is mathematically derived from the private key, but you cannot work backwards from the public key to the private one. Most wallets show you a shorter version of the public key called an address. You can paste that address anywhere, and people can use it to send you crypto without ever putting your funds at risk. ## Related terms - [Private Key](https://fudfomo.co/glossary/private-key): A secret string of characters that proves you own a crypto address. Anyone who sees it can spend your funds. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Pump and Dump > A market manipulation where insiders inflate the price of a token, then sell into the buying frenzy. Canonical URL: https://fudfomo.co/glossary/pump-and-dump Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A pump and dump is a coordinated scheme to push the price of a small or illiquid token higher with marketing, social media, and friendly trades, then sell the insiders' holdings to the buyers attracted by the rise. The price typically collapses quickly afterwards. Pump and dumps are illegal in regulated markets but easier to run on smaller crypto tokens, especially newly launched ones. ## Regulatory context Pump and dump schemes are a form of market manipulation and have been prosecuted under existing securities and commodities laws. ## Related terms - [Rug Pull](https://fudfomo.co/glossary/rug-pull): A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. - [Exit Scam](https://fudfomo.co/glossary/exit-scam): When the people running a project disappear with users' money. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Reentrancy > A smart contract bug that lets an attacker call back into a contract before its first call finishes, draining funds. Canonical URL: https://fudfomo.co/glossary/reentrancy Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Reentrancy is a class of bug where a smart contract makes an external call before fully updating its own balances. The attacker uses that gap to call back into the contract repeatedly, withdrawing funds each time before the balance has been corrected. The 2016 DAO hack is the most famous reentrancy attack. Modern Solidity practice avoids it by following the checks-effects-interactions pattern and using reentrancy guards. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Solidity](https://fudfomo.co/glossary/solidity): The most common programming language for writing smart contracts on Ethereum. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Restaking > Reusing already-staked coins as security for additional services, usually for extra yield. Canonical URL: https://fudfomo.co/glossary/restaking Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Restaking takes already-staked coins, like ETH locked through a liquid staking service, and lets them also secure other networks or middleware. In return, the operator earns extra rewards on top of the base staking yield. Restaking adds new layers of slashing risk, because the staked coins can now be penalised by both the underlying chain and the new services. The headline yields can be attractive but the risks compound. ## Related terms - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [Liquid Staking](https://fudfomo.co/glossary/liquid-staking): Staking your coins through a service that gives you a tradable token in return. - [Slashing](https://fudfomo.co/glossary/slashing): When part of a validator's stake is destroyed as a penalty for breaking the rules. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Rollup > A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. Canonical URL: https://fudfomo.co/glossary/rollup Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A rollup is the most common kind of layer 2. It runs transactions on its own faster, cheaper network and then 'rolls up' the results into a compact proof or batch that is posted to the main chain. There are two main flavours. Optimistic rollups assume the batch is correct unless someone proves otherwise. Zero-knowledge rollups attach a cryptographic proof so anyone can check immediately. ## Related terms - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [Bridge](https://fudfomo.co/glossary/bridge): A tool that lets you move tokens from one blockchain to another. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Rug Pull > A scam where the creators of a token suddenly drain liquidity or sell their stash, leaving holders with worthless tokens. Canonical URL: https://fudfomo.co/glossary/rug-pull Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A rug pull is a kind of exit scam common with new tokens. The team behind the token builds excitement, attracts buyers into a liquidity pool, and then suddenly removes the liquidity or dumps their own holdings. The price collapses to nothing and the team disappears. Telltale signs include anonymous teams, large insider allocations, and contracts that let the deployer change the rules. ## Regulatory context Rug pulls are typically illegal under fraud laws, but recovering funds is hard once they have moved on chain. ## Related terms - [Exit Scam](https://fudfomo.co/glossary/exit-scam): When the people running a project disappear with users' money. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Sanctions Screening > Checking that the people and addresses involved in a transaction are not on a sanctions list. Canonical URL: https://fudfomo.co/glossary/sanctions-screening Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Sanctions screening is the process of checking customer identities and on-chain addresses against official lists of sanctioned individuals, entities, and wallets. Crypto firms typically run automated screening at onboarding and on every withdrawal. A hit can mean the transaction is blocked, the funds are frozen, and the case is reported to the relevant authority. The most-watched lists come from OFAC in the US, the UK's OFSI, and the EU. ## Regulatory context Failing to screen properly can lead to large fines and licence revocation. Most exchanges use specialised compliance tools rather than building this in-house. ## Related terms - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [VASP](https://fudfomo.co/glossary/vasp): Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Sandwich Attack > A specific MEV trade where a bot places one order before and one after your trade to extract value. Canonical URL: https://fudfomo.co/glossary/sandwich-attack Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A sandwich attack is a type of front-running. A bot spots a large pending swap, buys the same token first to push the price up, lets your trade go through at the inflated price, and then sells immediately after. The bot pockets the difference and you get a worse fill than you would have. Tighter slippage settings, MEV-protection routers, and private mempools all help reduce the risk. ## Related terms - [Front-Running](https://fudfomo.co/glossary/front-running): Profiting by placing your own transaction ahead of someone else's pending trade. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. - [Slippage](https://fudfomo.co/glossary/slippage): The gap between the price you expected when you placed a trade and the price you actually got. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # SEC > The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. Canonical URL: https://fudfomo.co/glossary/sec Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The Securities and Exchange Commission, or SEC, is the US regulator for securities markets. It has taken an active role in crypto, particularly around whether tokens count as securities under American law. Companies that want to sell or list tokens to US investors often have to argue why their tokens are not securities or register them properly. SEC enforcement actions have shaped how the crypto industry handles fundraising, listings, and disclosures. ## Regulatory context The SEC's stance on individual tokens can change with new leadership. Court decisions also play a major role in defining the boundaries. ## Related terms - [Securities](https://fudfomo.co/glossary/securities): A regulated category of financial instrument, like shares or bonds. Tokens that meet the test are subject to strict rules. - [Howey Test](https://fudfomo.co/glossary/howey-test): A US legal test for deciding whether something counts as an investment contract, and so a security. - [ICO](https://fudfomo.co/glossary/ico): Initial coin offering. An early sale where a project raises money by selling its new token. - [FCA](https://fudfomo.co/glossary/fca): The UK's Financial Conduct Authority. The regulator that authorises crypto firms in the UK. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Securities > A regulated category of financial instrument, like shares or bonds. Tokens that meet the test are subject to strict rules. Canonical URL: https://fudfomo.co/glossary/securities Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A security is a regulated kind of financial instrument: shares, bonds, investment contracts, and similar products. Selling or trading a security requires registering with regulators, publishing disclosures, and meeting investor protection rules. Whether a crypto token counts as a security is one of the most argued questions in the industry. The answer depends on the jurisdiction, the way the token was sold, and how it functions in practice. ## Regulatory context A token can be treated as a security in one country and not another. Always check the local rules before fundraising or listing. ## Related terms - [ICO](https://fudfomo.co/glossary/ico): Initial coin offering. An early sale where a project raises money by selling its new token. - [Howey Test](https://fudfomo.co/glossary/howey-test): A US legal test for deciding whether something counts as an investment contract, and so a security. - [SEC](https://fudfomo.co/glossary/sec): The US Securities and Exchange Commission. The American regulator that decides whether a token counts as a security. - [MiCA](https://fudfomo.co/glossary/mica): The Markets in Crypto-Assets regulation. The European Union's main rulebook for crypto firms. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Seed Phrase > A list of 12 or 24 ordinary words that backs up an entire wallet. Canonical URL: https://fudfomo.co/glossary/seed-phrase Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A seed phrase is a human-readable backup of your wallet. It is usually 12 or 24 common English words, generated when you set the wallet up. If your phone breaks or you reinstall the app, you can use the seed phrase to recover the same wallet. Anyone who sees the phrase can also recover it, so it should be written down and kept somewhere safe and offline. ## Related terms - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. - [Private Key](https://fudfomo.co/glossary/private-key): A secret string of characters that proves you own a crypto address. Anyone who sees it can spend your funds. - [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Sequencer > The operator that orders transactions on a layer 2 before they are posted to the main chain. Canonical URL: https://fudfomo.co/glossary/sequencer Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A sequencer is the service that decides the order of transactions on a rollup. Most rollups currently use a single centralised sequencer run by the team that built the chain, which makes them fast but also a point of trust. If a sequencer goes offline or censors transactions, users can usually fall back to forcing transactions through the layer 1, but it is slower. Many teams are working on decentralised sequencer designs to remove this single point of failure. ## Related terms - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Short > A position that profits when the price goes down. Canonical URL: https://fudfomo.co/glossary/short Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Going short means borrowing an asset to sell now, with the plan to buy it back later at a lower price. The difference is your profit. In crypto, most retail shorts are taken through derivatives like perpetuals rather than physical borrowing. Shorts have unlimited theoretical loss because the price can keep rising, which is one reason most platforms require collateral and offer automatic liquidations. ## Related terms - [Long](https://fudfomo.co/glossary/long): A position that profits when the price goes up. - [Leverage](https://fudfomo.co/glossary/leverage): Trading with borrowed funds, so a small move in the price has a much bigger effect on your position. - [Perpetual Futures](https://fudfomo.co/glossary/perpetual-futures): A futures contract with no expiry date. Common in crypto, kept in line with the spot price by funding payments. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Sidechain > A separate blockchain that runs alongside a main chain and is connected by a bridge. Canonical URL: https://fudfomo.co/glossary/sidechain Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A sidechain is its own blockchain that is linked to a larger one, but does not inherit that chain's security. It has its own validators and its own rules. Sidechains can be cheaper and faster, but if the sidechain is attacked, the main chain cannot help you recover funds. They are different from rollups, which do post proofs back to the main chain. ## Related terms - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Bridge](https://fudfomo.co/glossary/bridge): A tool that lets you move tokens from one blockchain to another. - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # SIM Swap > An attack where a scammer takes over your phone number to bypass two-factor authentication and break into accounts. Canonical URL: https://fudfomo.co/glossary/sim-swap Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A SIM swap attack happens when a scammer convinces a mobile carrier to transfer your phone number to a SIM card they control. Once they have the number, they can intercept SMS-based two-factor codes and reset passwords on email and exchange accounts. Crypto holders are a frequent target. The standard defences are using app-based or hardware two-factor authentication, locking your number with the carrier, and never relying on SMS for important accounts. ## Related terms - [Phishing](https://fudfomo.co/glossary/phishing): A scam where attackers impersonate a trusted service to steal credentials or trick you into signing a bad transaction. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Slashing > When part of a validator's stake is destroyed as a penalty for breaking the rules. Canonical URL: https://fudfomo.co/glossary/slashing Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Slashing is the punishment built into proof-of-stake networks. If a validator signs conflicting blocks, stays offline for too long, or otherwise misbehaves, the network destroys part of their stake. The threat of slashing is what makes proof of stake secure. Stakers who delegate to a validator can also be exposed to slashing, which is why choosing a reputable operator matters. ## Related terms - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Restaking](https://fudfomo.co/glossary/restaking): Reusing already-staked coins as security for additional services, usually for extra yield. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Slippage > The gap between the price you expected when you placed a trade and the price you actually got. Canonical URL: https://fudfomo.co/glossary/slippage Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Slippage is the difference between the quoted price of a trade and the real price when it executes. It happens because prices move while your transaction is waiting to be confirmed, especially in less liquid markets. Most crypto wallets and exchanges let you set a maximum slippage. If the price moves more than that, the trade fails instead of going through at a worse rate. ## Related terms - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [MEV](https://fudfomo.co/glossary/mev): Extra profit that validators or specialised bots can earn by reordering or inserting transactions in a block. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Smart Contract > A program that runs on a blockchain and does what it says, automatically. Canonical URL: https://fudfomo.co/glossary/smart-contract Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A smart contract is a small program stored on a blockchain. It runs exactly as written and the result is recorded on chain, so nobody can quietly change the outcome. Smart contracts are what power things like stablecoins, lending apps, exchanges, and NFTs. The trade-off is that bugs in the code can lock up or drain funds, and there is no helpdesk to call. ## Related terms - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [Oracle](https://fudfomo.co/glossary/oracle): A service that brings outside information, like prices or sports scores, onto a blockchain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Soft Fork > A blockchain rule change that is backwards compatible. Old software still works, just with fewer features. Canonical URL: https://fudfomo.co/glossary/soft-fork Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A soft fork is a tighter set of rules added to a blockchain. Nodes that have not upgraded still see the new blocks as valid; they just do not enforce the new rules themselves. Because it does not split the network, a soft fork is a safer way to roll out changes. Bitcoin's SegWit and Taproot upgrades were both soft forks. ## Related terms - [Fork](https://fudfomo.co/glossary/fork): A change to a blockchain's rules. Sometimes minor, sometimes big enough to split the network in two. - [Hard Fork](https://fudfomo.co/glossary/hard-fork): A blockchain rule change that is not backwards compatible. Old software cannot follow the new chain. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Solidity > The most common programming language for writing smart contracts on Ethereum. Canonical URL: https://fudfomo.co/glossary/solidity Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Solidity is a programming language designed for writing smart contracts that run on the Ethereum Virtual Machine. It looks similar to JavaScript or C++ and is supported across most EVM-compatible chains. Most major DeFi protocols, NFT collections, and DAO tooling are written in Solidity. The language has matured significantly, but smart contract security still requires careful design, testing, and audits. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. - [EVM](https://fudfomo.co/glossary/evm): The Ethereum Virtual Machine. The runtime that executes smart contracts on Ethereum and other compatible chains. - [DApp](https://fudfomo.co/glossary/dapp): A decentralised application. A web app whose backend logic runs on smart contracts. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Spot Market > A market for buying and selling crypto for immediate delivery, at the current price. Canonical URL: https://fudfomo.co/glossary/spot-market Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A spot market is where you trade an asset for instant delivery. If you buy one ETH on a spot market, that ETH is yours straight away. Spot is the opposite of derivatives markets, where you trade contracts whose value tracks the underlying price. Spot is what most beginners use and is generally simpler and lower risk than perpetuals or options. ## Related terms - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [DEX](https://fudfomo.co/glossary/dex): A decentralised exchange. Trade crypto directly from your wallet, without an account. - [Futures](https://fudfomo.co/glossary/futures): A contract to buy or sell an asset at a fixed price on a future date. - [Options](https://fudfomo.co/glossary/options): A contract that gives the buyer the right, but not the obligation, to buy or sell at a set price by a set date. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Stablecoin > A token designed to hold the same value as a regular currency, usually the US dollar. Canonical URL: https://fudfomo.co/glossary/stablecoin Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A stablecoin is a cryptocurrency whose price is tied to something stable, most often the US dollar. The aim is to give you the speed and reach of crypto without the price swings of Bitcoin or Ether. The most common stablecoins are backed one-for-one by cash and short-term government debt held by an issuer. Others are backed by other crypto held as collateral. They are widely used for trading, payments, and saving in countries with high inflation. ## Regulatory context MiCA in the European Union sets specific reserve, disclosure, and authorisation rules for stablecoin issuers. Always check whether a stablecoin is authorised in your jurisdiction. ## Related terms - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Custody](https://fudfomo.co/glossary/custody): Who holds your crypto and the keys to it. Self-custody means you do, custodial means a company does. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Staking > Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. Canonical URL: https://fudfomo.co/glossary/staking Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Staking is how proof of stake networks like Ethereum stay secure. You commit a chunk of the network's coin as collateral, and in return you (or a validator you delegate to) help confirm new transactions. For doing that work honestly, you receive a steady flow of rewards. If you try to cheat or your validator misbehaves, part of your stake can be taken away. This is called slashing. ## Related terms - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Validator](https://fudfomo.co/glossary/validator): A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # State Channel > A way for two or more users to transact off-chain and only settle the final balance on the main chain. Canonical URL: https://fudfomo.co/glossary/state-channel Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A state channel is a private agreement between participants to update a shared balance between themselves without writing each step to the blockchain. Only the opening and closing settle on chain. State channels are great for high-frequency interactions between known counterparties, like payment channels or game updates. They struggle when participants do not know each other in advance or when they need to involve many parties at once. ## Related terms - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Lightning Network](https://fudfomo.co/glossary/lightning-network): A layer 2 for Bitcoin that lets users send fast, cheap payments through a network of payment channels. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Sybil Attack > An attack where one party controls many fake identities to gain influence. Canonical URL: https://fudfomo.co/glossary/sybil-attack Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A Sybil attack is named after a famous case study about a person with multiple identities. In crypto, it usually means one party creating many wallets or fake accounts to abuse a system that assumes one address per person. Sybil attacks distort airdrops, governance votes, and reputation systems. Most defences fall back on either staking real value or proving identity in some way, both of which have trade-offs. ## Related terms - [Airdrop](https://fudfomo.co/glossary/airdrop): A free distribution of new tokens to a list of wallet addresses. Often used to reward early users. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. - [Governance Token](https://fudfomo.co/glossary/governance-token): A token that gives you the right to vote on changes to a crypto project, usually a DAO. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Tax Lot > A specific batch of crypto bought at a known price and date, used to calculate gains on disposal. Canonical URL: https://fudfomo.co/glossary/tax-lot Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A tax lot is a single batch of an asset acquired together. Each lot has its own cost basis and acquisition date. When you sell or swap part of your holdings, tax software needs to know which lot the units came from to calculate the gain or loss. Common methods include first-in-first-out (FIFO), last-in-first-out (LIFO), and specific identification. The choice can have a real impact on your tax bill. ## Regulatory context Some countries require a specific accounting method. Others let you choose, but require consistency over time. ## Related terms - [Capital Gains](https://fudfomo.co/glossary/capital-gains): The profit you make when you sell an asset for more than you paid. Usually taxable. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Token > A unit of value created on top of an existing blockchain like Ethereum. Canonical URL: https://fudfomo.co/glossary/token Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A token is an asset that lives inside a smart contract on an existing blockchain. Anyone can create one, and tokens can stand for almost anything: a stablecoin, a share of voting power in a project, a loyalty point, or ownership of a digital item. Unlike a coin such as Bitcoin or Ether, a token does not have its own blockchain. It rides on the security of the chain it lives on. ## Related terms - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Stablecoin](https://fudfomo.co/glossary/stablecoin): A token designed to hold the same value as a regular currency, usually the US dollar. - [NFT](https://fudfomo.co/glossary/nft): A token that represents ownership of a unique item, like a piece of digital art or a ticket. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Tokenomics > The economic design of a token: total supply, how it is distributed, and how it changes over time. Canonical URL: https://fudfomo.co/glossary/tokenomics Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Tokenomics is short for token economics. It covers questions like: how many tokens will ever exist, who got them at the start, how new ones are created, and how old ones are removed. Good tokenomics tries to align the interests of users, builders, and long-term holders. Weak tokenomics often shows up as heavy concentration in a small number of wallets, aggressive emissions, or short vesting schedules for insiders. ## Related terms - [Total Supply](https://fudfomo.co/glossary/total-supply): The maximum number of coins or tokens that will ever exist for a project. - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Vesting](https://fudfomo.co/glossary/vesting): A schedule that releases tokens to founders, investors, or staff gradually over time. - [Burning](https://fudfomo.co/glossary/burning): Permanently destroying tokens by sending them to an address nobody can spend from. Reduces supply. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Total Supply > The maximum number of coins or tokens that will ever exist for a project. Canonical URL: https://fudfomo.co/glossary/total-supply Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Total supply is the cap on how many units of a coin or token can ever be created. Bitcoin's total supply is 21 million. Some tokens have no fixed cap and instead issue new units over time. A big gap between circulating supply and total supply is a signal to look at the vesting schedule. New tokens entering the market over time can push the price down even if interest in the project is steady. ## Related terms - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. - [Vesting](https://fudfomo.co/glossary/vesting): A schedule that releases tokens to founders, investors, or staff gradually over time. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Transaction > An instruction recorded on a blockchain that moves value or runs a smart contract. Canonical URL: https://fudfomo.co/glossary/transaction Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A transaction is the basic unit of activity on a blockchain. It is signed by the sender's private key and broadcast to the network, where validators or miners include it in a block. Transactions can transfer coins, call functions on smart contracts, or both. Once a transaction is included in a confirmed block, it cannot be undone, which is why double-checking before signing matters. ## Related terms - [Block](https://fudfomo.co/glossary/block): A bundle of transactions added to a blockchain together. - [Mempool](https://fudfomo.co/glossary/mempool): The waiting area where pending transactions sit before they are included in a block. - [Gas Fee](https://fudfomo.co/glossary/gas-fee): The cost of getting your transaction included on the blockchain. Goes to the people who run the network. - [Address](https://fudfomo.co/glossary/address): A short string of characters that identifies a wallet on a blockchain. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Travel Rule > A regulation that requires crypto firms to share sender and recipient information when transferring above a threshold. Canonical URL: https://fudfomo.co/glossary/travel-rule Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition The Travel Rule is a financial crime rule first written for traditional bank transfers, now extended to crypto. When a crypto firm sends value above a set threshold to another firm, it has to pass along basic information about both the sender and the recipient. The aim is to make it harder to use crypto rails to launder money or move sanctioned funds. The rule is set globally by the Financial Action Task Force and implemented locally by national regulators. ## Regulatory context Thresholds and exact data requirements differ by jurisdiction. Most major exchanges integrate Travel Rule providers that share data automatically. ## Related terms - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [FATF](https://fudfomo.co/glossary/fatf): The Financial Action Task Force. The global standard-setter for anti-money-laundering and counter-terrorist-financing rules. - [VASP](https://fudfomo.co/glossary/vasp): Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Trustless > A system where users do not need to trust each other or a central party for it to work as expected. Canonical URL: https://fudfomo.co/glossary/trustless Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Trustless does not mean nobody trusts anything. It means the rules of a system are enforced by code and cryptography, not by a central party. You still trust that the code is correct and that the underlying chain is secure. The benefit is that you do not have to rely on a counterparty to honour an agreement; the protocol does it automatically. ## Related terms - [Permissionless](https://fudfomo.co/glossary/permissionless): A property of a system where anyone can use it or join without asking permission. - [Immutable](https://fudfomo.co/glossary/immutable): Cannot be changed once recorded. The standard property of confirmed blockchain history. - [Smart Contract](https://fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically. - [Blockchain](https://fudfomo.co/glossary/blockchain): A shared digital record of transactions that no single person or company controls. Everyone can read it, and changes are extremely hard to fake. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # TVL > Total value locked. The dollar value of all assets sitting inside a DeFi protocol or chain. Canonical URL: https://fudfomo.co/glossary/tvl Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition TVL stands for total value locked. It adds up the market value of everything users have deposited into a protocol's smart contracts: lending pools, vaults, liquidity pools, and so on. TVL is often quoted as a measure of how much trust a protocol has earned, but it moves with token prices and incentive programmes. A protocol can show a falling TVL just because the price of its native token dropped, not because users walked away. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Validator > A participant in a proof-of-stake network who proposes and confirms new blocks. Earns rewards and can be slashed. Canonical URL: https://fudfomo.co/glossary/validator Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A validator is the proof-of-stake equivalent of a miner. Validators put up a stake of the network's coin as collateral, and in return they take turns proposing and approving new blocks. Good behaviour is rewarded with regular payouts. Bad behaviour, such as approving conflicting blocks or being offline for long periods, can lead to slashing, where part of the stake is taken away. ## Related terms - [Staking](https://fudfomo.co/glossary/staking): Locking up your crypto to help run a blockchain. In return, you earn rewards, similar to interest. - [Proof of Stake](https://fudfomo.co/glossary/proof-of-stake): A way to secure a blockchain using locked-up coins instead of computing power. Used by Ethereum. - [Consensus](https://fudfomo.co/glossary/consensus): The way a blockchain's computers agree on which transactions are valid and which version of the ledger is correct. - [Node](https://fudfomo.co/glossary/node): A computer that helps run a blockchain by storing the ledger and checking new transactions. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Validity Proof > A cryptographic proof that a batch of transactions on a ZK-rollup followed all the rules. Canonical URL: https://fudfomo.co/glossary/validity-proof Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A validity proof is a small piece of cryptography attached to each batch on a ZK-rollup. It mathematically demonstrates that every transaction in the batch was valid, without the verifier having to re-run any of them. Because the proof is checked instantly, there is no challenge window and withdrawals can settle quickly. Generating these proofs is computationally heavy, which is why ZK-rollups invest in specialised hardware and proof systems. ## Related terms - [ZK-Rollup](https://fudfomo.co/glossary/zk-rollup): A layer 2 that posts cryptographic proofs back to the main chain to show its batches are valid. - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # VASP > Virtual Asset Service Provider. A FATF term for any business that handles crypto on behalf of customers. Canonical URL: https://fudfomo.co/glossary/vasp Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition VASP stands for Virtual Asset Service Provider. It is the official term used by the Financial Action Task Force for any business that exchanges, transfers, holds, or issues crypto on behalf of customers. Exchanges, custodians, and many wallet providers fall into this category. Most national regulators use the same definition. Being classified as a VASP usually means having to register, run KYC and AML programmes, and follow the Travel Rule. ## Regulatory context VASP registration regimes vary widely. Some countries require a full licence, others a simple registration, and some prohibit certain VASPs entirely. ## Related terms - [KYC](https://fudfomo.co/glossary/kyc): Know Your Customer. The identity checks an exchange runs before letting you trade. - [AML](https://fudfomo.co/glossary/aml): Anti-money laundering. The rules and checks that stop crypto being used to hide the origin of dirty money. - [Travel Rule](https://fudfomo.co/glossary/travel-rule): A regulation that requires crypto firms to share sender and recipient information when transferring above a threshold. - [FATF](https://fudfomo.co/glossary/fatf): The Financial Action Task Force. The global standard-setter for anti-money-laundering and counter-terrorist-financing rules. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Vault > A DeFi smart contract that automates a strategy on behalf of depositors. Canonical URL: https://fudfomo.co/glossary/vault Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A vault is a smart contract you deposit into and that automatically executes a strategy. Strategies range from simple lending to layered yield farming routes that move funds between protocols to chase the best rate. Vaults save users from manually managing positions, but they introduce extra smart contract risk and often charge a performance fee. Always check what the vault actually does and how often it has been audited. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Yield Farming](https://fudfomo.co/glossary/yield-farming): Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. - [Lending Protocol](https://fudfomo.co/glossary/lending-protocol): A DeFi app that lets users deposit crypto to earn interest and others borrow against collateral. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Vesting > A schedule that releases tokens to founders, investors, or staff gradually over time. Canonical URL: https://fudfomo.co/glossary/vesting Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Vesting is a release schedule for tokens. Instead of giving founders, the team, or early investors all of their tokens at once, a project unlocks them in stages over months or years. Vesting protects the wider market from a sudden flood of new supply hitting exchanges. It also signals that insiders are committed to the project for the long term. Vesting unlocks are public and worth watching. ## Related terms - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [Circulating Supply](https://fudfomo.co/glossary/circulating-supply): How many coins or tokens are actually in the market right now and free to trade. - [Total Supply](https://fudfomo.co/glossary/total-supply): The maximum number of coins or tokens that will ever exist for a project. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Wallet > An app or device that holds the keys you need to spend and receive crypto. Canonical URL: https://fudfomo.co/glossary/wallet Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A crypto wallet is software (or sometimes a small physical device) that stores your private keys. Those keys are what prove you own a given amount of crypto. If you lose access to your wallet and have no backup, you lose access to the funds, because no central company can reset it for you. That is why backing up your seed phrase matters. ## Related terms - [Private Key](https://fudfomo.co/glossary/private-key): A secret string of characters that proves you own a crypto address. Anyone who sees it can spend your funds. - [Seed Phrase](https://fudfomo.co/glossary/seed-phrase): A list of 12 or 24 ordinary words that backs up an entire wallet. - [Hot Wallet](https://fudfomo.co/glossary/hot-wallet): A wallet connected to the internet, like a phone app. Convenient for everyday use, less safe for big balances. - [Cold Storage](https://fudfomo.co/glossary/cold-storage): Keeping crypto on a device that is not connected to the internet. Safer for long-term holding. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Wash Trading > Buying and selling the same asset between connected accounts to fake trading volume. Canonical URL: https://fudfomo.co/glossary/wash-trading Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Wash trading is when one party buys and sells the same asset between accounts they control. The result is high reported volume that does not reflect real demand. Wash trading has been a problem on smaller exchanges and in NFT markets, where it can be used to make a token or collection look more popular than it is. Several regulators have brought enforcement actions for wash trading in crypto. ## Regulatory context Wash trading is illegal in regulated markets and is increasingly being prosecuted in crypto, including in NFT markets. ## Related terms - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. - [CEX](https://fudfomo.co/glossary/cex): A centralised exchange. A regulated platform where you buy and sell crypto using an account. - [NFT](https://fudfomo.co/glossary/nft): A token that represents ownership of a unique item, like a piece of digital art or a ticket. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Web3 > A loose label for the part of the internet built on blockchains, wallets, and tokens. Canonical URL: https://fudfomo.co/glossary/web3 Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Web3 is shorthand for an idea of an internet where users own their data and assets through wallets, not through accounts on big platforms. In practice it covers crypto wallets, decentralised apps, NFTs, DAOs, and identity systems built on chains. The term is contested. Critics argue much of what calls itself Web3 is still hosted by centralised companies. Supporters point to the parts that genuinely cannot be shut down by a single party. ## Related terms - [DApp](https://fudfomo.co/glossary/dapp): A decentralised application. A web app whose backend logic runs on smart contracts. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain. - [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Whale > A person or entity that holds a very large amount of a coin or token, big enough to move the market. Canonical URL: https://fudfomo.co/glossary/whale Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Whale is informal slang for a holder large enough that their trades visibly move the price. Whales can be early investors, project teams, exchange wallets, or institutional funds. On-chain analysts watch whale wallets for signals about which way major holders might be leaning. Big whale moves can warn of selling pressure or large rotations between assets. ## Related terms - [Market Cap](https://fudfomo.co/glossary/market-cap): The current price of a coin multiplied by how many are in circulation. A rough size measure. - [OTC Desk](https://fudfomo.co/glossary/otc-desk): An over-the-counter trading desk that matches large crypto buyers and sellers off the public exchanges. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Whitepaper > A document that explains how a crypto project works and why it should exist. Canonical URL: https://fudfomo.co/glossary/whitepaper Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A whitepaper is the founding document of a crypto project. It usually describes the problem the project is trying to solve, how the technology works, and how the token will be distributed. A serious whitepaper is technical and specific. A weak one focuses on price predictions and brand. The original Bitcoin whitepaper, only nine pages long, is still considered a model of the form. ## Related terms - [Bitcoin](https://fudfomo.co/glossary/bitcoin): The first cryptocurrency. A digital money you can send anywhere in the world without a bank, secured by a network of computers. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. - [ICO](https://fudfomo.co/glossary/ico): Initial coin offering. An early sale where a project raises money by selling its new token. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Wrapped Token > A token on one blockchain that represents a coin from another. Lets you use Bitcoin on Ethereum, for example. Canonical URL: https://fudfomo.co/glossary/wrapped-token Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A wrapped token is a token on one blockchain backed one-for-one by an asset held on another. Wrapped Bitcoin (WBTC) is the best-known example: each WBTC on Ethereum is backed by one bitcoin held by a custodian. Wrapping lets you use an asset inside a different blockchain's ecosystem, for example to trade Bitcoin on a DEX or to use it as collateral in a DeFi app. The trade-off is that you depend on the custodian or bridge that holds the original. ## Related terms - [Bridge](https://fudfomo.co/glossary/bridge): A tool that lets you move tokens from one blockchain to another. - [Token](https://fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum. - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # Yield Farming > Moving crypto between DeFi apps to earn the highest rewards. Higher yields usually mean higher risk. Canonical URL: https://fudfomo.co/glossary/yield-farming Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition Yield farming is the practice of moving your tokens between different DeFi protocols to chase the best returns. Rewards can come from trading fees, lending interest, or extra tokens handed out by the protocol. Very high advertised yields often come from new and risky tokens, smart contract exposure, or short-lived incentive programmes. Headline numbers rarely tell the whole story. ## Related terms - [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank. - [Liquidity Pool](https://fudfomo.co/glossary/liquidity-pool): A shared pot of two tokens that lets people trade between them on a decentralised exchange. - [Tokenomics](https://fudfomo.co/glossary/tokenomics): The economic design of a token: total supply, how it is distributed, and how it changes over time. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co --- # ZK-Rollup > A layer 2 that posts cryptographic proofs back to the main chain to show its batches are valid. Canonical URL: https://fudfomo.co/glossary/zk-rollup Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co. ## Definition A zero-knowledge rollup, usually shortened to ZK-rollup, runs transactions on its own network and then attaches a small cryptographic proof showing they all followed the rules. The main chain only has to verify the proof, which is much cheaper than re-running the transactions. Because the proof is checked instantly, withdrawals are much faster than with optimistic rollups. The maths is more complex, which is why ZK technology has taken longer to mature. ## Related terms - [Rollup](https://fudfomo.co/glossary/rollup): A type of layer 2 that bundles many transactions together and writes a summary back to the main chain. - [Layer 2](https://fudfomo.co/glossary/layer-2): A faster, cheaper network built on top of a layer 1 like Ethereum. Borrows the main chain's security. - [Validity Proof](https://fudfomo.co/glossary/validity-proof): A cryptographic proof that a batch of transactions on a ZK-rollup followed all the rules. - [Ethereum](https://fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform. ## See the full catalogue What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co ---