Definitions

Term	Definition
Centralized Exchange (CEX)
Decentralized Exchange (DEX)
Decentralized Application (DApp)
Smart contract	Smart contracts are programs designed and stored on a blockchain that run when predetermined conditions are met. Smart contracts are used to automate the execution of an agreement between buyer and seller. They can also automate a workflow, triggering the next action when conditions are met. A smart contract enables the code to run independently, with no third-party operators. For example, when placing an order on a decentralized exchange, the crypto you intend to buy/sell goes into a smart contract. The party on the other side of the trade also puts their crypto in the smart contract. When the prices match, the smart contract sends the funds to the appropriate parties based on their order.
Staking	Staking is when a token holder locks up portion of their token for a period of time. A token holder contributes to a network by staking their tokens and in exchange earns rewards. Typically token holders earns rewards in a form of tokens after they stake their tokens. DAPPs use the concept of staking to give rewards and other non-financial benefits such as voting to their users. When you unstake, you lose voting power, but your tokens become liquid.