Fiat

Government-issued currency that is not backed by a physical commodity like gold. Examples include the US dollar, Euro, and Yen. Fiat is commonly used to buy and sell cryptocurrency.

Fractionalization

The process of dividing an asset into smaller pieces so multiple people can own a share of it. In Web3, fractionalization allows digital assets like NFTs or tokenized assets to be owned by many users while still maintaining transparency and immutability.