Le Coin / Learning Hub

Learning Hub

Plain-English explainers on how blockchains, stablecoins and crypto infrastructure work. Sourced line by line, versioned, free as PDF.

01 Mechanics only. No prices.
02 Every claim sourced.
03 Versioned with a changelog.

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The first card is the most recently updated dive

Latest revision · v0.3.1

Bitcoin, explained: the rules in its code and who can change them

A plain guide to how Bitcoin works, what fixes its supply, how its rules change, and how US investors reach it through exchange-traded products.

Published v0.3.1Updated Oct. 17, 202619 sources

Tokenization and RWA

Tokenized Treasuries, explained: fund shares with a blockchain register

What the products sold as tokenized Treasuries are, how three of them are built, and what their own documents say about control, access and risk.

Published v1.0.1Updated Oct. 17, 20264 sources

Stablecoins

Tether's USDT: what backs the dollar token and who can redeem it

Tether says each USDT is redeemable for one dollar, and BDO checked its reserves as of June 30, 2026, but only verified customers can redeem.

Published v1.0.1Updated Oct. 17, 20264 sources

Wallets & custody

Wallets and custody, explained: who holds the keys

A plain guide to how crypto keys are made and stored, the difference between holding them yourself and using a custodian, and the US rules for custodians, including one that is still only a proposal.

Published v0.3.1Updated Oct. 17, 202612 sources

DeFi lending

Aave and lending risk, explained: how loans get liquidated

A plain guide to how Aave v3 measures the safety of a loan, when a position can be liquidated and by how much, and which risk settings its governance controls.

Published v0.2.1Updated Oct. 17, 20266 sources

Rollups, explained: how Base settles on Ethereum

A plain guide to what a rollup is, how it posts data to Ethereum, how withdrawals are challenged, and how Base sets its own withdrawal window.

Published v0.2.1Updated Oct. 17, 202611 sources

Arbitrum

Arbitrum is a family of Ethereum layer-2 (L2) chains and the software that runs them.

Published v0.3.1Updated Oct. 17, 202616 sources

How Ethereum upgrades happen: from proposal to hard fork

Changes to Ethereum start as written proposals called EIPs, move through review and client testing, and take effect for everyone at once in a scheduled hard fork.

Published v1Updated Oct. 16, 20265 sources

DEX and perps

MEV explained: who profits from the order of Ethereum transactions

Whoever orders the transactions in an Ethereum block can capture extra value, which searchers find, builders package, validators mostly collect and some users now get back.

Published v1Updated Oct. 16, 20266 sources

Stablecoins

Ethena's USDe, explained: a dollar token built from hedged crypto

How Ethena says its synthetic dollar holds its value, where the backing sits, and the risks Ethena itself lists.

Published v1Updated Oct. 16, 202615 sources

Staking

Staking, explained: running a validator alone or through a pool

A plain guide to how Ethereum staking works under its consensus rules, what a validator earns and risks, and how Lido and Rocket Pool let people stake without running 32 ETH alone.

Published v0.2Updated Oct. 16, 20269 sources

DEX and perps

Uniswap and AMMs, explained: trading against a formula

A plain guide to automated market makers, how Uniswap's pools price trades from v2 to v4, and what liquidity providers risk when prices move.

Published v0.2Updated Oct. 16, 20263 sources

Prediction markets

Polymarket and Kalshi side by side: how two prediction markets work

Both sell contracts that pay a fixed amount if an event happens, but they differ on who records trades, who decides outcomes and how the CFTC oversees them.

Published v1Updated Oct. 16, 202614 sources

Ethereum

Ethereum is a public blockchain that runs smart contracts, which ethereum.org defines as programs that run on the Ethereum blockchain.

Published v0.3.0Updated Oct. 16, 202612 sources

Solana

Solana is a proof-of-stake blockchain.

Published v0.3.0Updated Oct. 16, 202616 sources

NEAR Protocol

NEAR Protocol is a proof-of-stake layer-1 blockchain.

Published v0.3.2-plainUpdated Oct. 15, 202637 sources

Robinhood Chain

Robinhood Chain is an Ethereum layer-2 (L2) blockchain built by Robinhood Markets using Arbitrum technology.

Published v0.4-plainUpdated Oct. 15, 202623 sources

Oracles

Chainlink

Chainlink is an oracle network: it brings outside information, such as asset prices or reserve data, onto blockchains, and moves messages and tokens between chains.

Published v0.3.0Updated Oct. 15, 202617 sources