Day 13 of learning web3. Ethereum is a potential competitor of AWS in the future. It has the security of an enterprise grade bank with the functionalities of AWS. Just for the price of a gas fee, you can have best of both worlds. Security and freedom to build whatever you want.
Day 12 of learning web3 Decentralised network also means value is shared. A birken bag when bought increases value of the centralised organisation / the biz. But when a bored ape NFT is bought, it increases the value of all the other NFTs and the network value is strengthened.
Day 11 of learning Web3 Seems like BAYC got popular because of celebrities buying it, including Musk. Pengu was due to its cuteness and community sharing. Cryptopunks was the most expensive yet ugly. By nature of art, they are simple, but by price tag, a whooping 42eth on avg.
Day 10 of learning Web3 Never a dull moment. Either someone is getting scammed, liquidated or overnight millionaire. The exchanges are trying to charge you exorbitant fees, UXUI work in abnormal ways and filled with dark designs. It seems like there's still room for harvest.
NFTs aren't in your wallet like tokens. I can import them in to view it but they reside on the token. My wallet holds the private keys. All info is on chain.
Day 9 of learning Web3 The crypto exchanges themselves are a pain in the ass. Gemini has a 7 day withdrawal protection. Disabling it will require another 7 days. It's so troublesome to transfer it out because adding a new address is another hassle in itself.
Day 8 of learning Web3 Learned that the recent 19billion wiped out from the market due to margin calls being triggered. If I leverage 10x with $1000, if btc drops to 90%, I lose $1000. If leversge 100x and btc drops to 99%, I lose $1000. Slow growth but I'm gonna keep it up!
I managed to import my NFT onto metamask! But I can't see my NFT, just a blank white image. Is it common to experience a hurdle at each step?
I swapped my first coin! Kinda dumb but I was today years old when I realise you could swap eth mainnet for eth base. Always thought eth is eth. Mind blown. Really impt to first be a user of web3 to understand it.
Day 7 of learning web3 Many app/platform issues while trying to use it. Gotta keep trying and not be dismayed. Learned that I need to select the right network and token when I request xfer. Else, token will be lost forever.
Day 6 of learning web3 Seems like metamask only grant access to seed phrase on the device the account was created on. I tried using my Google account to log into metamask on another phone and my pc Chrome metamask plugin. Both can't log in. Needed seed phrase.
I still don't under BIP39 and how the 8 bit checksum confirms the 256 bit entropy. Will come back at another time. Spent 40 mins on this.
Through BIP39 mathematical rules, the 24 word seed phrase can restore the wallet and recreate the private keys. Seed phrase need to be in order. The last word is a checksum. Can restore it on any wallet that supports seed phrases. No email, password. It's mathematical ownership.
Day 5 of learning web3 Start by being a user of platforms like metamask and try buying some meme coins to see how the platform works. That's one of the best ways to learn. Try and find out!
Self notes on learning web3. To learn better. Start by learning the What. To dive deeper, ask How. For context and go further, ask Who. With these 3 answered, it's much easier to understand the Why. Ask Why at the end, not at the start. Start with What.
Web3 seeks to be different from web2. But creates an entirely new suite of challenges. Airdrop marketing campaigns can be a scam. Someone sending $0 or 0.0001 to your account can be a semi social engineering scam (address poisoning). Blind signing.
Day 4 of learning web3 Web2 tradfi fears large corp failing and taking our money. Web3 is simpler, everyone is out to scam you 😂 Every step of the user journey has vulnerabilities, is exploitable, and subjected to social engineering attacks and more.
💰 $400 $SOL GIVEAWAY Must: - Repost + Like - Follow Me (🔔) ⏳24HRS
Day 3 of learning web3 It's all about money/crypto. Bad actor's goal is to take. They are infra, protocol, and user agnostic. Vulnerabilities include infra, malicious smart contract code, social eng. Most shocking thing I learned today was Clipboard Malware.
Day 2 of learning Web3. Layer 1s with EVM compatability will have a low barrier of entry for developers familiar with Eth and Solidity. Devs can take smart contracts and Dapps for Eth and deploy them on EVM compatible chain with minimal modification.
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