What does PK mean?
Player Kill.
So its just a PVP tournament right? Last man standing? Or..
There are many kinds. Generally speaking we use two different terms to discern between events that are skill based (hit or dont hit, your gear wont matter) and ones where your gear and level and stats are important.
Wars run every hour at XX:30 and are all hit based. They will always give you the required weapons or skills or stats needed to compete equally with other players. There's a wide variety of events that it chooses from randomly. These are things like our freeze war, bomb war, team deathmatch, soccer, etc.
Tournaments run much less often, anywhere from daily to only happening once per month. Most of them are weekly events which grants each day of the week something unique to look forward to. The way these events work are each different from eachother but the one unifying factor is that your character's items and stats are important. This includes things like Guild War, Weekly PK Tournament, Capture the Flag, Class PK Tournament and much more.
The Class PK, Weekly PK and Monthly PK tournaments are very similar in terms of how they are played (broken into level groups, can use any items/skills you want, prizes based on your rank inside the event). The difference is when and how often they run, what their rewards are as well as some differences in gameplay. A good example is that the Class PK war separates people into groups based on their profession (trojans only fight trojans for example) where the weekly PK tournament puts all classes into the same event.
Tournaments generally focus their rewards on temporary boosts or bragging rights (titles and halos are very popular with players and dont cause any harm to the economy) where wars focus on giving experience or a special PVP currency which are accumulated over time and traded in for rewards.
So we can go in as a noob and partake in a hit based tournament and everyone will be given equal powerd weapons. A level 2 and a level 122 for example? And can you tell me more about the Freeze war, bomb war ect. Paint a picture for me to I understand what kind of game play that is. Obviously I understand team death match and soccer but the others I dont.