A Beginner's Guide to DeFi: How Decentralized Finance Works
DeFi uses blockchains and smart contracts for trading, lending, and borrowing. Learn how wallets, returns, fees, and risks fit together.
26 min read · reviewed
How Bitcoin mining works, from the first machine to the hosting contract. Each guide states when it was last reviewed, names who wrote and checked it, and links to the calculators and data pages where the numbers live.
DeFi uses blockchains and smart contracts for trading, lending, and borrowing. Learn how wallets, returns, fees, and risks fit together.
26 min read · reviewed
Almost every DeFi protocol is a variation on five activities: swapping, lending, staking, issuing stable value and trading derivatives. Knowing which category a protocol belongs to tells you in advance what its main failure mode is.
5 min read · reviewed
A mining pool combines many miners' hashrate so that rewards arrive as a steady income rather than a rare jackpot. What differs between pools is who absorbs the variance, what that costs, and who decides which transactions go into a block.
5 min read · reviewed
A stablecoin is a token designed to hold a fixed value, almost always one US dollar. What separates the designs is what stands behind the peg, and what happens to redemption when the market stops believing it.
6 min read · reviewed
Proof of work, hashrate, difficulty, block rewards and the halving.
3 guides
How pools work, PPS vs PPLNS vs FPPS, fees, payouts and centralization.
2 guides
ASICs, efficiency in J/TH, buying used, hosting vs at home, cooling.
Coming soon
Hashprice, break-even electricity, payback periods and difficulty risk.
1 guide
Firmware, configuration, wallets and payouts, heat, noise and monitoring.
Coming soon
Tax treatment of mined coins, the regulatory landscape, custody and opsec.
Coming soon
Understand DeFi, its financial building blocks, and its risks.
10 guides
What backs a stablecoin, which ones matter, and how lending against them works.
3 guides
The rules crypto firms operate under, who holds a licence, and where the perimeter ends.
1 guide
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17 min read · reviewed 10 Sept 2026
26 min read · reviewed 9 Sept 2026
6 min read · reviewed 9 Sept 2026
5 min read · reviewed 9 Sept 2026
7 min read · reviewed 9 Sept 2026
6 min read · reviewed 9 Sept 2026
76 terms, each defined in one sentence you can check against the guides that use it. Terms are linked on first mention inside each guide.
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