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Glossary

Terms37 terms

AI agentAn AI system that works toward goals, invokes tools, and produces results; the course distinguishes it from ordinary bots and assistants.
GasA unit used by certain networks to measure computational resources consumed during execution; the actual transaction fee also depends on factors such as the gas price.
Private Key用于签署交易、控制相应链上资产的私密密钥。
bStocksSecurity tokens issued by an issuer and backed 1:1 by the corresponding U.S. equities held with a regulated custodian, providing exposure to their price movements and associated economic benefits.
MainnetA blockchain network in live operation; going live does not prove that a project is secure or worth investing in.
Seed phraseAn ordered sequence of words used to recover private keys. Never provide it to customer support or unfamiliar websites.
Decentralized Finance (DeFi)An ecosystem comprising decentralized financial applications built on blockchain networks.
Double-Spending ProblemThe double-spending problem is the risk that the same unit of digital currency may be copied or spent more than once, thereby undermining the credibility of the ledger.
Over-the-Counter (OTC) TradingA trading method in which the two parties negotiate the price and quantity directly rather than using an exchange's order book.
Proof of WorkA consensus mechanism in which miners perform computations to solve cryptographic puzzles, validate transactions, and create new blocks.
Ponzi schemeA fraudulent scheme that uses funds contributed by new investors to pay purported returns to earlier participants, without any genuine profit-generating strategy.
CustodyCustody is the protection, safekeeping, or management of assets by an individual or institution.
SkillA capability module that can be enabled in Binance AI Pro to support specific tasks such as market research, on-chain analysis, or workflow planning.
Pump and DumpA manipulative scheme in which promoters or insiders artificially inflate a project's hype and price, then sell their own holdings for a profit.
DigitizationDigitization is the process of encoding information in digital form; such information is generally easy to copy and transmit.
Smart contractA program that executes according to network rules and may contain vulnerabilities, upgrade privileges, and external dependencies.
CorrectnessMeasures whether an algorithm can accurately solve the problem it is designed to address.
Governance TokenA token used by DAO members to vote on protocol changes, system rules, or other proposals.
QuorumThe minimum voting participation requirement that must be met before a DAO proposal can be considered validly voted on or passed.
LiquidityThe quantity of an asset available for trading around a given price; when liquidity is insufficient, large orders are more likely to move the execution price.
TestnetAn environment used to test a network or application; test assets should not be regarded as a promise of returns.
LiquidationThe disposal of a position or collateral that occurs when collateral or margin requirements are not met; the specific conditions are determined by the product.
Asymptotic analysisA mathematical method for comparing the performance of algorithms as input size grows, which reduces the impact of differences in programming languages and hardware.
SlippageA situation in which a trade's actual execution price differs from the price originally requested or expected, commonly occurring in low-liquidity markets or with market orders.
SlippageThe phenomenon in which the actual execution price deviates from the expected price due to market movements or insufficient available liquidity.
Spot PriceThe asset's current market price in the spot market, which changes in real time as buy and sell orders are executed.
Spot MarketA financial market in which assets are bought and sold at current prices for immediate delivery or delivery within a short period of time.
Fractional ShareAn equity interest representing less than one full share, allowing users to gain partial investment exposure to the underlying stock with a smaller amount of capital.
Private KeySecret information used to sign transactions; leakage may result in loss of control.
AlgorithmA finite, explicit set of step-by-step instructions for converting input into output, thereby solving a problem or completing a computation.
Self-custodySelf-custody is a method by which users protect and manage assets themselves and directly retain control over the assets.
Self-custody walletA self-custody wallet is a wallet in which the user holds the private keys and the wallet service provider cannot control the assets on the user's behalf.
Security TokenIn this context, an on-chain credential representing rights or economic interests in a specific financial instrument; it does not, by virtue of that fact alone, constitute direct equity ownership in the underlying company.
Rug Pull ScamA scam in which project developers attract funds from investors, then abandon the project and abscond with the funds or liquidity.
Pyramid schemeA fraudulent scheme in which participants profit primarily by recruiting new members, with fees flowing upward through multiple tiers, making the scheme ultimately unsustainable.
Zero-Knowledge ProofA cryptographic method that enables the validity of a transaction to be verified without revealing the specific transaction information.
Non-Fungible Token (NFT)A cryptographic token used to represent a unique digital or real-world asset and that cannot be exchanged on a like-for-like basis with another token.

Definition

Spot Price

The asset's current market price in the spot market, which changes in real time as buy and sell orders are executed.

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