There are no real experts when it comes to Web3. Some people know a lot about a corner of it. Others know something about a few things. No one has all the answers. Most people are not even sure of the questions.Â
WEB3 BASICS
Web3 is the ecosystem based on blockchain technology. Networks, browsers and software applications all work together in a fundamentally different way to the current Web. WAGMI: We are gonna make it.
CRYPTO BASICS
If blockchain is the Web3 highway, then NFTs are the vehicles and crypto is the fuel that powers them. Crypto is lines of code with no physical presence, yet it challenges the modern concept of currency. FOMO: Fear of missing out.
BLOCKCHAIN BASICS
Blockchain technology operates in a conceptually different way from current technology. It distributes an encrypted record of a transaction across a peer-to-peer online network. IYKYK: If you know, you know.
BITCOIN BASICS
The Bitcoin phenomenon is a disruptor in the banking world because it is a self–sustaining independent financial system. Some say that it will do to banking what email did to the post office. Ape: Take a large position in a crypto.
CRYPTO ECOSYSTEM
Decentralized finance (DeFi) is the term for the ecosystem of organizations and processes that enable the trading of crypto and tokens. It is early days, but it is definitely an industry. GM: Good morning.
ETHEREUM BASICS
Ethereum is an open-source blockchain with its own cryptocurrency Ether (ETH). It was designed to be developer-friendly and over half of Web3 applications operate on this blockchain. HODL: Hold on for dear life.