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For information and learning only. Not investment advice. Crypto assets involve risk.

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Glossary

Terms50 shown

ARC-20A fungible token created using the Atomicals protocol to represent ownership of assets on the Bitcoin network.
ASIC-resistantRefers to a cryptocurrency design property that limits the efficiency advantage of specialized ASIC hardware through protocols and mining algorithms.
Agentic WalletA component in Binance Wallet’s Agentic Hub that enables agents to interact with tokens and decentralized finance protocols.
Atomicals ProtocolAn open-source system for creating UTXO static or dynamic digital objects on blockchains that adopt the model.
BRC-20An experimental standard for minting and transferring fungible tokens on the Bitcoin blockchain using the Ordinals protocol.
BRC-20 tokenAn experimental token standard for minting and transferring fungible tokens using the Bitcoin Ordinals protocol.
Bitcoin halvingEvery 210,000 blocks, a preset event in the Bitcoin protocol halves miners' block rewards.
DeFiA decentralized financial system that conducts activities such as lending and swapping through blockchain protocols.
DeFi tokensAssets related to decentralized finance applications, which can be used on lending platforms, decentralized exchanges, or yield protocols.
Gossip protocolAn asynchronous peer-to-peer communication method in distributed systems.
Inter-Blockchain Communication (IBC)A specialized messaging protocol adopted by the Cosmos ecosystem that enables independent blockchains to exchange assets without relying on a single centralized operator.
Layer 2A secondary protocol or framework built on an existing blockchain to offload transaction processing, increase speed, and reduce costs.
Layer 2 SolutionRefers to scaling protocols built on top of existing blockchains that improve scalability through mechanisms such as state channels, sidechains, or rollups.
Messaging protocolsTransmitting data and instructions between different blockchains, enabling an application on one chain to trigger operations on another chain.
OP_RETURN OpcodeAn opcode used to attach additional data to Bitcoin transactions; the Runes protocol uses it to record token-related information.
OrdinalsA Bitcoin protocol that numbers satoshis according to mining order and allows data to be inscribed on satoshis.
Ordinals protocolA protocol that uses ordinal theory to number satoshis and inscribe data onto individual satoshis.
Proof of Attendance Protocol (POAP)A protocol that uses blockchain to create digital badges and record attendance at specific events; it also refers to the badges themselves.
SRC-20A Bitcoin Stamps token standard based on the Counterparty protocol that embeds arbitrary data into spendable data transactions.
The GraphA decentralized protocol for indexing and querying blockchain data.
TokensDigital units issued on a blockchain that can be used to access products or services, represent rights to real-world assets, or grant voting rights in protocol governance.
deterministic finalityIt means that once a designated group of validators has signed the transaction, the protocol rules no longer provide a way to reverse it.
ePBSThe protocol incorporates an enshrined proposer-builder separation (ePBS) mechanism, bringing the responsibilities for selecting consensus blocks and assembling execution payloads, as well as the handoff process, into the core protocol.
Nakamoto ConsensusA protocol used by a blockchain network to reach consensus on the state of the blockchain, designed to enable participants to agree on a single, secure version of the blockchain.
Token StandardA set of rules, protocols, and specifications governing how digital tokens operate and interact on a specific blockchain.
RestakingEigenLayer participants lock ETH, a way to provide security for multiple services or protocols.
ForkA divergence in a blockchain network caused by a protocol upgrade or differing opinions among nodes about the rules.
Cryptocurrency protocolA set of rules and procedures governing the behavior of participants in a decentralized network.
Block subsidyNew tokens generated in a new block and awarded to miners by the protocol; they are part of the block reward.
Blockchain bridgeA protocol that connects two blockchains and supports the interaction of assets or messages between them.
Decentralized exchange platform (DEX)A platform protocol that enables users to trade digital assets without intermediaries.
Decentralized autonomous organization (DAO)A governance structure in which token holders vote on matters such as protocol changes or treasury fund allocation.
ComposabilityThe characteristic that enables developers to compose and build new applications on top of existing DeFi applications and protocols.
Base feeThe transaction fee dynamically adjusted by the Ethereum protocol based on network usage and permanently burned after payment.
Ordinals protocolA protocol that numbers satoshis and allows additional data to be attached to them through inscription.
Total Value Locked (TVL)The total value of all assets deposited in a DeFi protocol or across an entire blockchain ecosystem, typically measured in USD.
Maximum supplyThe protocol specifies that the total supply of Bitcoin may never exceed 21000000 coins in issuance.
model context protocol (MCP)A standard that enables compatible AI tools to interact with external services; Binance Agent OS connects through its endpoints.
Bitcoin Layer 2A protocol built on Bitcoin that processes certain transactions or computations outside the main chain and submits the relevant results or state back to the Bitcoin network.
Bitcoin halvingApproximately every 4 year, a protocol event that gradually reduces miners’ block rewards.
Bitcoin RunesA protocol for creating fungible tokens on the Bitcoin blockchain.
Bitcoin StampsA form of digital art that Bitcoin encodes digital art data into Bitcoin through the Stamps protocol UTXO and permanently records it on the blockchain.
Governance tokenDAO A token used by members to vote on protocol changes, system rules, or other proposals.
Liquid restaking token (LRT)A transferable token issued by the protocol when users restake assets, representing the user's claim on the underlying position and its rewards.
Liquidity poolA pool of funds formed from assets deposited by users and used by protocols such as automated market makers to facilitate transactions.
Hard ForkA protocol change that is not backward-compatible and may cause the blockchain to split into two independently operating paths if there is disagreement.
Computing PowerThe overall computational power provided by miners participating in Bitcoin mining; changes in it prompt the protocol to adjust mining difficulty.
SlashingA penalty under which participants lose part or all of their staked assets in cases such as violating the protocol.
SatoshiThe smallest unit defined by the Bitcoin protocol, 1 satoshis equal 0.00000001 BTC。
Node OperatorA participant responsible for running machines that validate blockchain transactions and deciding whether to upgrade the system when the protocol changes.

Definition

Ordinals protocol

A protocol that uses ordinal theory to number satoshis and inscribe data onto individual satoshis.

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