Nostr is a protocol that formalises how digital information is shared on the cyberspace.
It's being implemented in various sorts of ways, for example as social network (similar to twitter, Facebook, reddit, substack etc.), as an online market place (amazon, eBay), and much much more... but also, because we have true digital money, aka Bitcoin, and money is information, nostr can also be used to send and receive payments in bitcoin. This is achieved by leveraging bitcoin's Lightning Network. (and soon the cashu protocol.)
Because nostr is a protocol and not an application, you can use any client of your choice to interact with it. Your twitter client for example, does not allow you to access your Facebook data, and vice versa... This is because these clients lock you in by owning your digital identity (and by extension, your data). With nostr, you own your identity, which is just a pair of interdependent cryptographic keys (public and secret - similar to username and password) that you can use to independently prove who you are, and what data you own.
Nostr is open-source, anyone can contribute to improve the protocol, or to build clients, libraries, etc (check out mine, nostr-java, I beg for contributions from the community 😅)
The implications of everything I've said here are huge. This is why we're excited.