This is the 783rd most frequent Icelandic word.
traust
Trust.
The word 'traust' here functions as a noun indicating the confidence or reliability that one has in another.
Ég hef traust á honum.
I have trust in him.
Here, 'traust' is again a noun describing the action of demonstrating reliability or faith in someone's abilities.
Hún sýndi traust á vinnufélögum sínum.
She showed trust in her coworkers.
In this instance, 'traust' is used as a noun to signify reputation or credibility established over time.