The Dictionary
Explore 242+ clear, technical, and objective definitions defining the decentralized future.
Recently Defined
Market Depth
Market depth measures the number and size of buy and sell orders at different prices within an order book.
Market Order
An order to buy or sell immediately at the best available current market price.
Market Sentiment
Market sentiment is the overall mood or emotional tone of traders and investors toward the market or a specific asset. It reflects whether people feel bullish, bearish, fearful, optimistic, or uncertain.
Max Supply
Max supply is the total number of coins that will ever exist.
Memecoin Launchpad
A memecoin launchpad is a platform that lets anyone deploy and trade a new token within minutes, typically using a bonding curve to provide instant liquidity. Tokens "graduate" to a standard DEX once a threshold of capital is locked into the curve.
Mempool
The mempool is a temporary waiting area where pending blockchain transactions remain before being confirmed.
MEV
MEV (Maximal Extractable Value) is the profit that can be extracted by reordering, including, or excluding transactions in a block beyond standard block rewards and fees. It is the on-chain equivalent of high-frequency trading edge, plus features unique to public mempools and smart-contract composability.
MEV(Maximal Extractable Value)
MEV, or Maximal Extractable Value, is value that validators, miners, or bots can capture by changing the order of transactions in a block.
MiCA
MiCA (Markets in Crypto-Assets Regulation) is the European Union’s comprehensive regulatory framework governing the issuance, trading, and provision of services related to crypto-assets that fall outside existing financial-services legislation.
Modular Blockchain
A modular blockchain is one that separates the core functions of a blockchain — execution, settlement, consensus, and data availability — into distinct, swappable layers. This is the opposite of a monolithic blockchain (like Solana) where all functions are handled by a single chain.
Multisig Wallet
A multisig (multi-signature) wallet is a smart-contract or script-based wallet that requires multiple independent signatures to authorize a transaction — for example, 2-of-3 or 3-of-5 — instead of a single private key.
MVRV Ratio
The MVRV (Market Value to Realized Value) ratio is an on-chain metric calculated by dividing a cryptocurrency’s current market capitalization by its realized capitalization (the aggregate value of all coins at the price they last moved on-chain).
Network Congestion
Network congestion occurs when more transactions are waiting to be processed than the blockchain can handle immediately.
NFT
An NFT (non-fungible token) is a unique cryptographic token on a blockchain that represents ownership of a specific digital or physical asset and cannot be exchanged on a one-to-one basis like fungible cryptocurrencies.
Node
A node is a computer or device that participates in a blockchain network by storing, sharing, validating, or relaying data.
Non Custodial
Non-custodial (or non-custodial wallet/protocol) means the user alone holds and controls the private keys; no third party, exchange, or company can access, freeze, or move the assets without the user’s cryptographic signature.
Omnichain
Omnichain refers to applications or tokens that exist natively across many blockchains simultaneously, treating multi-chain operation as the default state rather than an integration. State, balances, and logic are kept consistent across chains through cross-chain messaging protocols.
On-Chain Analytics
On-chain analytics is the examination of publicly available blockchain data—transactions, wallet balances, address activity, and network metrics—to derive insights about market behavior, asset flows, and network health.
On-Chain Data
On-chain data is information recorded directly on a blockchain. This includes transactions, wallet activity, token transfers, smart contract interactions, fees, and other measurable blockchain events.
Onchain Reputation
Onchain reputation is a verifiable record of an address's behavior — transaction history, contracts interacted with, tokens held, attestations received — used as a basis for trust, access, or scoring without revealing the underlying identity.