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How the mechanisms behind crypto applications work: price discovery, oracles, on-chain settlement, layer 2 networks and the line between on-chain and off-chain.
A crypto application is not a single smart contract but a chain of components: external data, quoting servers, collateral contracts, the network they run on and the network that one relies on. Each link carries its own trust assumptions.
Articles in this section explain those links one by one and show where verifiability ends: what you can see on-chain and what stays on the operator’s side.
Where to start, in the suggested reading order.
Technology
A trade's price can come from a queue of other people's orders, a pool formula or a market maker's quote. We look at how order books, AMMs and RFQ work and the trade-offs each model carries.
