Also: centralized exchange
A CEX (Centralized Exchange) is an exchange run by a central operator that custodies user funds and matches orders through an order book. Examples: Binance, OKX, Bybit, Coinbase.
Trade-off vs DEX: more liquidity and fiat on-ramps, but requires KYC and trust in the operator ("not your keys — not your coins").
The unique identifier of an account or contract on a blockchain.
Abstract Datagram Network Layer — TON's low-level peer-to-peer protocol.
Automated Market Maker — algorithmic pricing through a liquidity pool.
A group of transactions finalized by validators and chained to the previous block.
Bag of Cells — the binary serialization format for structured data and smart contracts in TON.
Decentralized Autonomous Organization — on-chain governance via token-holder voting.
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