📬Glossary
Glossary 📖
Welcome to the Glossary! Here you'll find definitions of key terms and concepts used throughout the RexBit Exchange documentation. Whether you're new to decentralized finance or looking to deepen your understanding, this glossary will help you navigate the technical landscape of RexBit Exchange.
A
Account State Tree
A data structure that maintains real-time updates of user balances and positions, ensuring accurate and consistent account information across the platform.
Atomic Swaps
A smart contract technology that enables the exchange of one cryptocurrency for another without the need for a centralized intermediary, ensuring secure and trustless transactions.
B
Blockchain
A decentralized digital ledger that records transactions across multiple computers in such a way that the registered transactions cannot be altered retroactively.
C
Central Limit Order Book (CLOB)
A traditional method used in exchanges to match buy and sell orders based on price and time priority, maintaining an organized list of all active orders.
Clearing
The process of settling transactions, ensuring that all parties fulfill their obligations post-transaction by transferring the appropriate funds or assets.
Consensus Mechanism
A system used by blockchain networks to achieve agreement on the state of the ledger. Common mechanisms include Proof of Work (PoW) and Proof of Stake (PoS).
Contracts for Difference (CFDs)
Financial derivatives that allow traders to speculate on the price movement of assets without owning the underlying asset, providing opportunities for profit in both rising and falling markets.
D
DAO (Decentralized Autonomous Organization)
An organization governed by smart contracts and community voting, eliminating the need for centralized management and enabling decentralized decision-making.
Decentralized Exchange (DEX)
A cryptocurrency exchange that operates without a central authority, allowing users to trade directly with one another through an automated process.
Decentralized Finance (DeFi)
A movement that leverages blockchain technology to recreate and improve upon traditional financial systems, enabling services like lending, borrowing, and trading without intermediaries.
E
ERC-20 Tokens
A standard for fungible tokens on the Ethereum blockchain, enabling interoperability between different tokens and decentralized applications (DApps).
Escrow
A financial arrangement where a third party holds and regulates the payment of funds required for two parties involved in a given transaction, ensuring security and trust.
Execution Layer
The component responsible for executing matched trades and recording the results on the blockchain, ensuring accurate and immutable transaction records.
F
Front-Running (MEV)
The practice of exploiting transaction ordering on the blockchain to gain an unfair advantage, often leading to higher execution costs and reduced market fairness.
H
High-Frequency Trading (HFT)
A trading strategy that uses powerful computers to transact a large number of orders at extremely high speeds, often exploiting small price discrepancies.
Hybrid Access
A wallet that supports both decentralized (Web3) and centralized (social login) access methods, providing users with flexibility and enhanced security through technologies like MPC TSS and AA.
I
Interoperability
The ability of different blockchain networks and systems to communicate and interact seamlessly, allowing assets and data to move freely across platforms.
Instant Transactions
Transactions that are processed and finalized in real-time or within sub-millisecond speeds, enhancing the efficiency and user experience on the platform.
K
Kronos Phase
The final phase in RexBit Exchange’s roadmap, focused on mastering time and space in finance by unifying traditional and digital financial markets on a single platform and exploring next-generation trading technologies.
M
Matching Engine
The core component responsible for processing and matching buy and sell orders based on predefined algorithms, ensuring fair and efficient trade execution.
Multi-Party Computation (MPC)
A cryptographic protocol that allows multiple parties to jointly compute a function over their inputs while keeping those inputs private, enhancing data confidentiality during computations.
Market Orders
Orders to buy or sell assets immediately at the best available current price, prioritizing speed over price precision.
O
Off-Chain Transactions
Transactions that occur outside of the main blockchain. But they can still be P2P (depends on the implementation).
Order Book
A list of buy and sell orders for a specific asset organized by price level, maintained by the exchange to facilitate trade matching.
Order Type
The specific instructions attached to a trading order, such as market, limit, or stop orders, determining how and when the order should be executed.
P
Peer-to-Peer (P2P) Network
A decentralized network architecture where participants interact directly without the need for a central server, enhancing privacy and resilience.
R
Risk Engine
A critical component that assesses real-time risk associated with each transaction, especially for leveraged or derivative trades, ensuring orders are accepted or rejected based on available margins.
Risk Management
The practice of identifying, assessing, and mitigating financial risks within the trading platform to prevent systemic issues and ensure market stability.
S
Smart Contracts
Self-executing contracts with the terms directly written into code, deployed on the blockchain to manage deposits, withdrawals, and dispute resolutions automatically.
Sync Service
A service that ensures data consistency across different system modules by transmitting information between components like the Trading Service, Account State Tree, and Block Generation.
T
Trade Finality
The assurance that once a trade is executed, it cannot be altered or reversed, ensuring that all parties can trust the integrity of the transaction.
W
Wallet
A digital tool that allows users to store, send, and receive cryptocurrencies and tokens securely, typically consisting of a public address and a private key.
Web3
The next generation of the internet, characterized by decentralized protocols and blockchain technology, enabling peer-to-peer interactions without intermediaries.
Z
Last updated