In today's world if you haven't heard words like crypto, blockchain, NFT, etc then you are considered to be living under a rock. 

There is plenty of information is available, but it's very difficult to read but very easy to understand.

So, here I have tried to define a few terms in the Crypto world so that one can understand at least the concept.

BlockChain

• It does not have any monetary value
• Blockchain is much more secure and safe than any other traditional database. 
• highly transparent
• decentralized and distributed all over the world
• used for recording currency transactions in every field 

The two most common blockchain-based digital assets are 

1. Cryptocurrencies 

2. Tokens. 

CryptoCurrency

• Cryptocurrency is digital money, which can be used for any purpose like shopping, investment, a charity...
• Compared to physical or paper-based currencies Cryptocurrencies are more technologically advanced 
• Blockchain is the underlying technology behind both assets and is held in blockchains. So, Both are Interdependent on the blockchain.
• The cryptocurrencies have their blockchains & considered a native asset of their own blockchain. For example, the Ethereum blockchain’s native asset is ether (ETH). Hence it is considered as currency. 

Tokens 

• Crypto tokens are built on an existing blockchain.
• The blockchain-based organizations can develop projects on top of existing blockchain networks.  
• Tokens can serve many functions on the blockchain platforms like decentralized finance (DeFi) mechanisms, specific services like marketing of products, playing games, holding databases, storage-based utility services, etc.

Classification of Crypto is very difficult.

It can be classified into different categories, like DeFi, NFT, utility tokens, GameFi, yield farming tokens, etc.

But there are a few basic terms that you know if you are new to the Crypto World.

Crypto Asset: 

It's a digital asset and includes, different types of coins, currency, NFT. 

DeFi: De-Centralized Finance. 

• Meaning there is no centralization to cryptocurrencies that are involved in decentralized finance.
•  It works similar to traditional financial services but there is no third party or entity involved. 
• This system is built on blockchain. 
• It also offers the transparency of usage of held assets and cryptocurrency on BlockChain

NFT: Non-Fungible Token. 

• It is created on the blockchain. 
• It can be art pieces, collectible crypto tokens, in-game collectibles that players can earn money from, physical collectibles, etc.

GameFi: 

• GameFi is a combination of the words “game” and “finance.” 
• It combines cryptocurrency, blockchain, NFTs, and game mechanics. 
• This combination allows players to earn incentives that can be sold for real money. 
• It is also called a “play-to-earn” model. 

Blockchain Game: 

• Blockchain gaming is a way of creating digital assets in video games, in the form of NFTs.  
• It allows Decentralised Finance (DeFi) and Decentralised Applications (dApps), blockchain gaming now generates billions of dollars a year via tokenized digital goods in the form of NFTs that can be traded and earned.

DApp: Decentralized Applications

• These digital apps or software programs are built and run on the blockchain. 
• Their data is written cryptographically on the blockchain.
• Their backend code is transparent (Open source) hence anyone can see it and review it.
• DApps run on blockchain technology which eliminates the need for a separate server of computer.

DAO: Decentralized Autonomous Organizations.

• It is a new type of organization that uses blockchain technology to eliminate the need for centralized administration.
• This organization relies on automatic decision-making programs developed by a community with a specific set of rules.
• Anyone with an idea can form a DAO (much like Kickstarter) to raise funds.
• On the basis of it, they can build community and accomplish their vision.