An app that runs on a blockchain system that uses smart contracts. It’s decentralized since no person or group governs it.
dApp is an acronym of “decentralized application”, which is a software application that partially runs on a distributed network (i.e. blockchain) instead of a centralized server. With the ability to decentralize information and services, there won’t be a single entity that has total control over all the information and related services on the application.
DeFi is an acronym for ‘Decentralized Finance’. It is the technology underlying the majority of cryptocurrencies. The most popular DeFi projects are decentralized exchanges, which automate the exchange of cryptocurrencies among buyers and sellers, reducing a middleman’s role.
DEX is a shortened version of a “decentralized exchange”. In a centralized exchange, your assets are held by the exchange completely. On the contrary, a DEX is a peer-to-peer platform where transactions run directly between crypto traders without a middleman. Some well-known DEX examples are Uniswap, PancakeSwap, dYdX, and SimpleSwap.
Discord is one of the most popular social media for NFTs and gaming projects. Lots of NFT projects have their Discord channels to keep the community updated and informed about the project’s news.
A decentralized society is a societal framework where power, governance, and decision-making are distributed across a network of peers rather than controlled by centralized authorities. It relies on blockchain technology and cryptos to facilitate trust, transparency, and autonomy among participants, aiming to reduce traditional institutions and foster a self-governing community.
A DAO (Decentralized Autonomous Organization) is an organization represented by rules encoded as a computer program that is transparent, controlled by organization members and not influenced by a central government, enabling decentralized decision-making and management of funds or assets through blockchain and smart contracts.