BLOCKCHAIN TERMINOLOGY

Blockchain Terms Simplified Explanation

Blockchain	Collection of Distributer Servers that maintain the Blockchain Software and Ledger
Node	Individual servers
Ledger	Database
Wallet	Account
NFT	Media assets (Non-Fungible Token)
Token	Platform Assets (Cryptocurrency/Token)
Royalties	Affiliate revenue
Smart contract	Irrevocable Electronic Contract/Agreement
dApp	Decentralized Application
Minting	Creating new Tokens/Cryptocurrency
Private Key	Private Passwords
Public Key	User Names broadcast to the Public
Seed phrase	Simplified password
Account abstraction	Email login
Airdrop	Rewards
Degen	Enthusiast
DAOs	Decentralized Autonomous Organization formed comprised of Communities
Tokenization	Digitalization of an Asset
DEX	Marketplace (Decentralized Exchange)
Miners & Stakers	People running servers
Mining	Use of Computing Power to Process and Record Transactions on the Blockchain
Gas	Costs of running servers
Oracle	Trusted Information Source (Data provider)
Mainnet	Production environment
Forking	Cloning a blockchain to create a different version
ICO	Initial Crowdsale Offering of Token
TVL	Total Value Locked (Tokens that cannot be sold/traded/used and are secured in a sort of Electronic Vault)
Fractional NFT	Share of an NFT
DeFi	Decentralized Finance