A second batch of web3 terms translated into plain language. Would suggest reading the original web3 lingo post first as this list includes slightly more advanced terms.
Consumer focused
- Minting = Publishing / posting
- Airdrop = Rewards
- NFT = Media assets
- Degen = Nerd focused on something specific (memes, tokens, chasing yields etc.)
- Private Key = Passwords
- Public Key = Usernames
- Seed phrase = Simplified password
- Wallet = Account
- Token = Assets
- DAOs = Communities
- DEX = Non-centralized marketplace / exchange
Technical focused
- Blockchain = Servers
- Testnet = Test environment
- Mainnet = Production environment
- Gas = Costs of running servers
- Miners & Stakers = People running servers
- Node = Individual servers
- Oracle = Data provider
- Interoperability = Standards / ease of movement
- Sharding = Scaling
- Tokenization = Digitalization
- Smart contract = Apps