Quick Start Guide
Onboarding to Cryptofundamentals and Web3
A summary of the presentation by Patrick Rivera
Eras of the Web
| Era | Companies | Description |
|---|---|---|
| Web1 | Google, Amazon | Users consume content |
| Web2 | Facebook, Uber | Users create content |
| Web3 | Ethereum, OpenAI | User own content |
Where Web3 and Crypto align is they both seek to:
- Use technology to help the disadvantaged
- Fix what’s wrong with the internet today
Blockchain Architecture
Current: Client <-> Server(owned by Some Company)
- Monopolistic, Single points of failure
Blockchain: P2P Networks, Validators keep the network honest
- Decentralized governance & permissions, Global state, Multiple points of failure
Blockchain trades technical scalability for social scalability
4 layers to understand blockchain:
| Layer | Technology |
|---|---|
| 0 | Hardware & Networking (A Computer) |
| 1 | Consensus & Settlement (Bitcoin and Eth) |
| 2 | Smart Contracts (MAKER & UniSwap) |
| 3 | Wallets & UI (MetaMask & Compound) |
Last 10 Years of Crypto
3 waves of activity:
| Years | Innovations |
|---|---|
| 2010-2012 | Bitcoin, Architecture(Miners + Exchanges) |
| 2012-2016 | New L1 Blockchains, Privacy + Alt Coins |
| 2016-2020 | DeFi, Layer2, Smart Wallet apps, NFT Marketplaces |
There was rising skepticism after the 2018 crypto bubble crash. But insiders realize each cycle brings the capital needed to invest in critical infrastructure:
Infrastructure innovations
- Decentralized Exchanges
- Lending Protocols
- L1 Blockchains
- Stablecoins
- Smart Wallets
- Developer Tools
- Storage Protocols
Rise of NFTs
Currently, when you upload a file The file is copied to an organizations backend
One more time
Currently, when you upload a file The file is copied to an organizations backend
Ownership is then transferred to that org
Blockchains enable
- Individual Ownership
- Public access
- Provenance
- Composability
How can NFT’s help Creators?
Content creators can use NFT’s to
- collect royalties from the trade of their asset
- grant benefits to holders
- create token-gated communities
Future of NFTs
Is it the McRib NFT? NO
Creator DAO’s
- Many ways of fundraising for projects
- Community-led decision making
- Transparent capital flows
- Employees and customers share in the upside Starting a global corporation will be as simple as creating a group chat
Curator Economy
Most people on the internet are curators, not creators
Traditional Curators (Magazines, Channels etc):
- Opaque process
- tiny % of the population
Future Curators:
- More like angel investors
- Invest in projects you care about
Currently, we have
- Cryptocurrency
- Cryptofinance
Soon we will have
- Cryptosocial
- Cryptocommerce
- Cryptowork
- Cryptofirms
- Cryptostates