A glaze is a topping made from icing sugar and water, to which an egg white may be added. As the name implies, a glaze is sometimes a glass, and it is almost always the sugar content that stabilizes it in that state when the water has been evaporated by heating.
A glaze serves both to decorate and to prevent the food that it covers from drying out. In addition, a glaze can impart a delicate and crisp mouthfeel that might provide a contrast with a soft cake or a pastry under it.
A cold cake glaze is made from a mixture of icing sugar, a little water, and possibly an egg white or syrup. Adding a little fat (butter or cream) helps prevent the sugar from crystallizing, and as a bonus, results in a shiny surface on the glaze. As icing sugar is a very fine powder, there are no crunchy crystals in the glaze. Depending on the ingredients, the glaze can harden or remain a little soft and shiny.