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To All: How Rapid Characterization Into Web3 Today

Read this article in 123 Minutes

When you come to the web3 ecology, you are no longer a student living in an ivory tower, and you are no longer a useless class with no sense of responsibility and responsibility. You have to start to have a sense of active learning.

Original title: "To everyone - How to quickly characterize and enter Web3 today"

Original author: 0xkookoo

Interpretation of the title< /h4>

In fact, I have always wanted to write such an article, but there are three reasons why I did not start writing.

One is that the industry is changing too fast to write about, the other is that I am not fully ready, and the third is that I am a little busy in life and work recently.

This time, Moledao invited me to be the instructor and host of the Web3 series of courses. The dual identities prompted me to make up my mind to start writing.

The title of the article has been changed a lot, and finally I settled down according to the 6W2H Eight Desolation Liuhe Sovereign Kung Fu,

Who: Everyone
When: Today
Where: Web3 Industry
Why: N/A I don't want to debate why we should join Web3)
Which: Enter Web3 with characterization (because not everyone wants to integrate into Web3, so it is more appropriate to come in and have a look, of course, you can stand outside and watch, But I don’t think you can see the details from the outside)
What: That’s what this article is about
How: It might be better to share how to do it based on your own experience
How much: There is no price, just follow your own pace after reading this article

Web3 panorama overview

Divided by timeline

Divided by domain

Divided by role

Learning method

Learning Resources

Conclusion

References

Web3 panorama

Divided by timeline

The 2000s

In 1976, two scholars at Stanford University proposed the concept of public key cryptography

1980s, David Chaum and Stefan Brands proposed an issuer-based ecash protocol

In 1992, cryptographers Cynthia Dwork and Moni Naor first thought that this method of solving difficult problems through calculation There may be some value (in cryptography)

In 1997, Adam Back, the inventor of hashcash, made the same point independently again, and he also believed that this model Has a certain value

At the same time, Wei Dai and Nick Szabo invented b-money and bit-gold respectively. On the basis of hashcash, Hal Finney proposed Reusable Proof-of-Work (RPOW), which is based on IBM's trusted platform module hardware and remote proof, and is characterized by reusability.

2000 - 2008

20003 In March, the NASDAQ (Nasdaq Composite Index), which is dominated by technology stocks, climbed to 5048, and the Internet economic bubble reached its highest point. The information technology and Internet-related speculation that began in 1995 finally burst like a bubble, later known as the dot-com bubble.

Beginning on August 9, 2007, the subprime housing credit crisis broke out, and investors lost information about the value of mortgage securities, triggering a liquidity crisis, Although the central banks of many countries injected huge amounts of money into the financial market many times, they could not prevent the outbreak of this financial crisis. Until September 2008, the financial crisis started to spiral out of control and lead to the collapse of large financial institutions such as Lehman Brothers, triggering a recession.

In November 2008, Satoshi Nakamoto published the paper "Bitcoin: A Peer-to-Peer Electronic Cash System"

https://bitcoin.org/bitcoin.pdf

On January 3, 20092009, Satoshi Nakamoto created the first Bitcoin block, namely the "Genesis Block", with a sentence "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", which was the title of the front-page article of The Times that day.

https://www.blockchain.com/explorer/blocks/btc/0

2010

On May 22, 2010, Laszlo Hanyecz bought two pizzas with 10,000 bitcoins. I believe he Definitely crying in the toilet.

On August 6, 2010, a major loophole was found in the Bitcoin protocol. Bitcoin's economic limit is set, creating an unlimited number of bitcoins.

On August 15, 2010, the above loophole was exploited, and a transfer transaction generated 184 billion bitcoins, but within an hour the The abnormal transaction was discovered, and after the bug was fixed, the entire Bitcoin network was updated to delete the abnormal transaction.

2011

February 9, 2011 On April 2011, Bitcoin broke through the $1 mark for the first time

In April 2011, Vincent Durham founded Namecoin (NMC), the first Altcoin

On June 2, 2011, Bitcoin broke through the $10 mark for the first time

October 2011, Charlie Lee founded Litecoin (LTC). He hopes that LTC can become a cheaper and faster platform, insisting that "Litecoin and Bitcoin will jointly solve the transaction needs of the future world."

On December 21, 2011, Babbitt founder Liu Zhipeng (Chang Jia) published a famous investment advice comment, "Buy Bitcoin, keep your wallet file, and then forget that you ever had $6,000. Look at it in five years.”

https://www.zhihu.com/question/19982269

2012On November 28, 2012, the Bitcoin production was cut for the first time, and the reward of each block was reduced from 50 BTC to 25 BTC2013

2013 3 In April, 1/3 of the professional miners chose the newly released Bitcoin professional mining chip ASICs (Application-Specific Integrated Circuits)

April 1, 2013, Bitcoin broke through the $100 mark for the first time

In July 2013, JR. Willett, founder of Mastercoin, launched the first ICO (Initial Coin Offering) on the bitcointalk forum. It also declares that only those who participate in the donation can enjoy new functions such as decentralized transactions, distributed betting, etc. above Bitcoin. This also allowed him to successfully raise 4,740 bitcoins, worth 500,000 US dollars at the time

In September 2013, Li Lin and Du Jun jointly founded Huobi.com, of course Now it has been renamed "Huobi"

In October 2013, the black market trading platform Silk Road 1.0 was shut down by the FBI, and a total of 26,000 BTC were confiscated

In October 2013, the world's first Bitcoin ATM was launched in Vancouver, Canada. It was launched by Robocoin, allowing users to convert Bitcoin into Canadian dollars to withdraw , the maximum daily limit is 3,000 Canadian dollars; on the other hand, users can also buy bitcoins by depositing cash

November 27, 2013, Bitcoin broke through the $1000 mark for the first time

In December 2013, Vitalik Buterin released Ethereum Whitepaper

https://ethereum.org/669c9e2e2027310b6b3cdce6e1c52962/Ethereum_Whitepaper

2014

February 2014, Mt. .Gox (a Japanese bitcoin exchange, also known as Mentougou Exchange) was shut down due to hackers stealing bitcoins. The company said it lost nearly 750,000 bitcoins belonging to customers and about 100,000 About 7% of the world's total bitcoins belong to the company's own bitcoin, which is estimated to be worth about 473 million US dollars according to the exchange rate at that time.

In March 2014, Mt. Gox claimed to have recovered 200,000 bitcoins.

In November 2014, Tether issued a 100% real asset-backed stablecoin, USDT

https://www.bloomberg.com/news/articles/2014-02-28 /mt-gox-exchange-files-for-bankruptcy

2015

On January 26, 2015, Coinbase became the first bitcoin exchange with a formal license in the United States.

On June 30, 2015, the Ethereum Mainnet was officially launched.

In August 2015, New York State of the United States took the lead in proposing BitLicense, a comprehensive regulatory framework for the encryption market, which is also one of the most influential licenses in the encryption industry.

In September 2015, Boston-based Circle, which issued the USDC stablecoin, received its first BitLicense.

https://blog .ethereum.org/2015/07/30/ethereum-launches

2016

On June 17, 2016, Vitalik Beterin issued an urgent notice on Reddit, "DAO has been attacked, please trade platform to suspend ETH/DAO transactions, recharge and Reflect, waiting for further notice, new information will be updated as soon as possible.” The DAO here refers to The DAO, a crowdfunding project initiated by the blockchain company Slock.it , they want to create a truly decentralized autonomous organization (Decentralized Autonomous Organization)

On July 20, 2016, due to differences within the Ethereum community on how to deal with The DAO incident, the Ethereum hard fork was successfully implemented. After the fork, two chains were formed, one for the original Chain (Ethereum Classic, ETC), a new fork chain (ETH), representing different community consensus. The ETC community believes that the spirit of the blockchain cannot be tampered with, and what happens is what happened. This is a matter of principle; while the ETH community led by Vitalik believes that theft is an illegal act and must be cracked down.

The DAO event had a huge impact, and even alarmed the US SEC. Slock.it co-founder and CTO Christoph Jentzsch also published the lessons he learned from it,

This field is still in its early stages, and the security of smart contracts still needs practice to improve

Always be alert to unknown things

Ethereum’s tools are not yet mature and need to continue to develop

The governance and voting mechanism of the decentralized system needs to be improved

Gradually release products to reduce risks

Minimization of complexity

https://www.reddit.com/r/ethereum/comments/4oif2x/dao_attack_exchanges_please_pause_eth_and_dao/

2017

On January 17, 2017, Coinbase obtained the BitLicense issued by the New York Department of Financial Services.

In March 2017, the price of one bitcoin exceeded that of an ounce of gold for the first time

On May 15, 2017, due to the rapid rise of other altcoins, Bitcoin's market cap share fell below 50% for the first time

On May 20, 2017, Bitcoin The price broke through $2,000 for the first time, and the market value reached more than $32.8 billion, but the market share fell to 45%.

In July 2017, due to Segregated Witness Segwit was taken by Litecoin LTC was the first to implement it, and Bitcoin technicians were very depressed, so they proposed a plan again. This time the community passed the proposal, and the technicians cheered and prepared to fight.

In August 2017, because some people in the Bitcoin community believed that Segwit was not an ideal solution to relax the block size limit, Jihan Wu (co-founder of Bitmain) And Roger Ver (CEO of Bitcoin.com ) and other big names in the industry also supported it. Bitcoin Cash BCH was hard forked out. Its block size limit is wider, initially increasing from 1 MB to 8 MB, and continuing to increase to 32 MB in 2018.

At the same time, under the temptation of interests, forked coins such as Bit Gold, Bit Diamond, and Super Bitcoin came into being. But when the tide recedes, BTC is still the former king, with the most standard swimming style.

On September 4, 2017, seven ministries and commissions including the People's Bank of China issued the "Announcement on Preventing the Risks of Token Issuance and Financing", which officially stopped ICO financing, trading The tokens fell precipitously, and the entire currency circle fell into a bottomless night for a while. Various tokens fell below the issue price, with the highest drop exceeding 90%. 100,000 people in the currency circle evaporated 160 million assets overnight, which can be called the darkest moment. Some people set this day as the day when new and old leeks are defined, and those who know this day should be old leeks, but even if many old leeks know about the 94 incident, they may not know the whole story.

On September 14, 2017, six ministries and commissions in mainland China jointly issued a document announcing the closure of all digital currency exchanges in the country, and the exchange of RMB and digital currencies can no longer be provided aisle. Affected by this, various currencies plummeted one after another, and the total market value of all encrypted digital currencies evaporated by nearly 60 billion US dollars. Subsequently, various exchanges went overseas one after another, and the currency circle opened a new era of currency trading and OTC (Over-the-Counter) trading.

In October 2017, the "Queen of Cryptocurrency", Ruja Ignatova, the founder of OneCoin, attracted 4 billion euros worldwide. The huge money disappeared, and he was listed as one of the ten most wanted criminals by the US FBI.

By the end of November 2017, 430 ICO projects were born this year, raising a total of 4.6 billion US dollars, but 86% fell below the issue price. The well-known ones are Binance and Filecoin, etc.

On July 14, 2017, Binance (Binance) was officially launched, and the ICO raised a total of 15 million US dollars, of which 10% of the total BNB supply was allocated to angel investors, 40% to the founding team, and 50% to ICO participants. And it is planned to use 20% of the total profit at the end of each accounting period to purchase and destroy BNB, and continue until 50% of the total supply is destroyed (that is, 100 million BNB)

On August 10, 2017, Filecoin (FIL) raised $257 Million through ICO, the highest record at that time

In November 2017, CryptoKitties was launched In just a few hours, it occupied more than 15% of the Ethereum network and contributed nearly 30% of the transaction volume of ETH. It is known as the originator of chain games and one of the earliest NFTs

On November 28, 2017, the unit price of Bitcoin broke through the $10,000 mark for the first time on a Korean exchange

On December 13, 2017, the number The total market value of the currency reaches 500 billion US dollars

http://www.gov.cn/xinwen/2017-09/04/content_5222655.htm

2018

In January 2018, Bitcoin reached All-Time High (ATH), with a price as high as $17,527.

On March 16, 2018, after several users who bought digital currency futures on OKEx were liquidated, they gathered in front of the OKex Beijing company building to launch rights protection activities , to discuss, later known as "Okcoin trader rights protection incident"

On May 24, 2018, under the name "transaction is mining, holding coins FCoin, an encrypted digital currency exchange with a signboard of instant dividends, was officially launched and issued the platform currency FT (The Future of Tokens). It was ranked among the top 3 exchanges in the world in less than half a month, and FT also achieved a 100-fold increase. But "transaction mining" was short-lived in the end, and the ship FCoin completely sank after 20 months. The phrase "Let those who don't believe in us get off the car early, so that our FT can achieve 100 yuan as soon as possible." Now it sounds so ironic.

On June 15, 2018, the EOS mainnet was officially launched. Among the first batch of 21 supernodes, 7 were from the Chinese community, including EOS Cannon and Huobi Pool Wait

On July 3, 2018, a recording of Li Xiaolai went viral on the Internet. In the recording, Li Xiaolai commented on the blockchain industry and revealed a lot of currency In the shady circle, the most famous sentence is "Silly X's consensus is also a consensus." This recording can be easily found on the Internet, and everyone can listen to it. It can be regarded as a classic learning case.

On August 24, 2018, Fomo3D, a gambling game that was thought to never end, ended. Hackers used 0.8 ETH to orchestrate a network cover campaign , so that the entire network is processing the transaction of the cover account 0x18e, while the main attack account 0xa169 bought the last key, no one will continue to compete, and 30 seconds later, you're done.

On November 16, 2018, the BCH hard fork also caused the first "computing power war" in the history of digital currency. Judging from the superficial results of this computing power battle, Wu Jihan won. The BCH fork battle has seriously damaged the vitality of the currency circle, and more than 30 billion US dollars have been evaporated within 24 hours.

https://zhuanlan .zhihu.com/p/34902188

2019

On January 28, 2019, Binance IEO launched BTT, and the listing price soared to 10 times. IEO gradually ignited the enthusiasm of the market, and Xiaoyangchun kicked off.

On May 8, 2019, Binance Exchange was hacked to steal 7,000 bitcoins. Two days later, Binance responded that it would make major adjustments to the API, 2FA (secondary verification) and coin withdrawal verification process, and also gave users 1,000 YubiKeys as compensation through activities.

In June 2019, Libra, supported by Facebook, published a white paper, announcing to the world the grand plan to use digital currency to create a global inclusive financial system.

On July 22, 2019, Justin Sun of TRON successfully bid for Buffett’s lunch with the highest price in history of US$4.56 million, but at the last minute said that due to a sudden Kidney stones were treated in the hospital, and the lunch meeting with Buffett was canceled, which aroused attention from all walks of life and extensive media coverage.

2019 is the first year of DeFi, and various DeFi products and business models have sprung up within a year: asset mortgage platform MakerDao, lending platform Compound, trading platform dYdX, the contract agreement UMA, the stable currency liquidity pool Curve, etc. are among the best. The total assets of DeFi have also tripled from the beginning of the year, reaching a scale of 670 million US dollars.

https://blog .makerdao.com/multi-collateral-dai-is-live/

2020

March 12, 2020, for contract players, that night was a cold night of carnage. Bitcoin fell from a maximum of $7966.17 to a minimum of $4410. The money earned by a bull market is lost within an hour. This wave of the largest bloodbath in the currency circle has caused great turmoil in the cryptocurrency field. Huobi, OKEx, and Binance have been attacked by liquidators one after another, claiming that they deliberately pulled the network cable. History does not repeat itself, but it is always strikingly similar!

On March 13, 2020, ushered in the darkest moment, Bitcoin fell to the lowest point of $3782.13, the largest drop of more than 50% in two days, and in the previous few days Bitcoin has just returned to $10,000 this week.

On September 1, 2020, the decentralized exchange Uniswap airdropped, any user who has used the Uniswap protocol before that can get at least 400 UNI tokens currency. More than 250 of the more than 250,000 eligible addresses even received 250,000 UNIs. These numbers are also very coincidental. It seems that 25 is the lucky number for Uniswap.

In mid-September 2020, the total TVL of DeFi protocols running on Ethereum exceeded $10 billion. At the same time, the monthly active users of Metmask (Little Fox Wallet) also reached 1 million.

On December 1, 2020, the Ethereum beacon chain was successfully deployed, which also marked the beginning of the road to Serenity.

On December 4, 2020, members of the US Congress proposed a stable currency bill, and related services need to be approved by the federal government.

https://www .theblockresearch.com/the-summer-of-defi-77639

2021

In January 2021, NBA Top Shot broke out, and the transaction volume in a single day reached 45 million U.S. dollars at its peak.

On April 14, 2021, Coinbase was listed on the NASDAQ exchange in the United States, and its market value was once as high as 100 billion US dollars after listing.

On April 18, 2021, the market misread the following three news, and the cryptocurrency suffered a cliff-like plunge under the sentiment, and the liquidation was about $6.956 billion, which is At that time, the largest single-day liquidation in history, a total of more than 800,000 people liquidated. The long-short reversal is impermanent, the currency circle is risky, and you need to be cautious when entering the circle!

Turkey bans bitcoin payments;

Coinbase executives dump company stock;

The U.S. Treasury Department will charge several financial institutions with using cryptocurrencies to launder money.

On April 30, 2021, Bored Ape Yacht Club (BAYC ) project was launched, and a total of 10,000 monkeys were mint within 12 hours. BAYC is one of the most well-known projects in the NFT circle, among which Bored Ape #8817 was even sold for a high price of 3.4 million US dollars.

Before May 19, 2021, Bitcoin fell from a maximum of $64,000 to a minimum of $29,000, which has dropped by 50%. It fell nearly 10,000 US dollars, and the currency circle was wailing. Except for Bitcoin, other mainstream currencies and altcoins fell even more. If you have contract futures in your hands, even if you have triple leverage, you will be liquidated and left! That night, the Inner Mongolia Development and Reform Commission issued another document stating that the supervision of "mining" will continue to be under high pressure. With the decline, Coinbase, the largest digital cryptocurrency exchange in the United States, went down, and Binance, the world's largest cryptocurrency exchange, suspended due to network congestion. For the withdrawal of Ethereum and ERC20, leeks claim that "you can't even copy the bottom if you want to".

On June 21, 2021, mainland China issued a policy to clean up mines, and the central bank also interviewed some banks and payment institutions to officially cut off all transactions The payment link of the virtual currency has brought China into a state where buying and selling Bitcoin is suspected of violating regulations, which has caused a major negative impact on the market, and the encryption market has also plummeted accordingly! Regulation will be late, but it will not be absent, especially for digital currencies.

On July 14, 2021, financial market index provider S&P Dow Jones Indices announced the launch of the S&P Cryptocurrency Broad Digital Markets Index , to track the performance of the broader digital asset market, which includes more than 240 currencies.

https://en .wikipedia.org/wiki/Bored_Ape

2022

In March 2022, ApeCoin airdropped, about 13,000 addresses won the prize, and one BAYC can get more than 110,000 US dollars in APE rewards.

On March 1, 2022, Binance announced the launch of the 28th Launchpad project, Stepn (GMT).

On May 10, 2022, the stablecoin UST of the Terra chain was severely de-anchored. Although the Luna Foundation's frantic rescue and seeking financing were ineffective, Terra eventually collapsed . This also tells us a truth that the total market value is a virtual market value, not real money. When you don't know where the profit comes from, the profit comes from you.

On June 19, 2022, the joke of "people who hang out in the currency circle and go hungry for nine meals in three days" is being fulfilled in the cryptocurrency investment circle, and Bitcoin once again It plummeted and fell below the $18,000 mark, which is also the lowest price of Bitcoin since December 2020. It was as high as $69,000 at its peak in 2021. Bitcoin has fallen for 12 consecutive days, the longest losing streak since its inception in 2009.

On July 1, 2022, Three Arrows Capital 3AC filed an application for bankruptcy protection in the Bankruptcy Court of the Southern District of New York. Panic, some media called this the "Lehman moment" in the currency circle.

On August 8, 2022, OFAC of the U.S. Department of the Treasury announced the sanction of Tornado Cash, the Ethereum mixing protocol, and asked Circle to freeze the sanctioned USDC account, which triggered Everyone is thinking about privacy/centralized supervision, and even more eager for decentralization. Therefore, in the future, the government needs to urgently cooperate with the blockchain industry to develop together and establish a comprehensive regulatory system rather than one size fits all. Vitalik even said that if the U.S. government wants to censor Ethereum nodes, it will regard it as an attack on the Ethereum network and slash these traitorous nodes through social consensus.

In September 2022, Starbucks and Polygon launched the Web3 platform, and we can see that traditional Web2 organizations are already laying out and making efforts, including technology companies FLAG, Baidu, and Tencent , art company Tiffany, etc.

On September 15, 2022, the Ethereum merger was successfully completed. Since then, the consensus mechanism of the Ethereum mainnet has switched from POW to POS.

On November 11, 2022, FTX, a well-known cryptocurrency exchange, declared bankruptcy. And the volatility is high. After CZ whistled, the market panic led to insolvency. But this has also brought benefits to the entire industry. After scraping the bones to heal the wounds, there will be more perfect supervision, and after time licks the wounds, the public will have more confidence and desire for decentralization.

In December 2022, Trump will issue NFT. At this point in time, it is a bit subtle and exciting.

Summary

We have experienced the switch between bull and bear, skyrocketing and plummeting, one day in the currency circle, the world One year, money never sleeps;

We have also witnessed a lot of fraud, hackers and black swan incidents;

But we

are even more amazed that the price of Bitcoin will go from 0, 1, 10, 100, 1000, 10000 until it breaks through 69,000 in 2021 The US dollar mark, I believe that we will see a bitcoin worth 100,000 US dollars in the future;

More excited, DeFi, NFT, GameFi and other fields have flourished from technology accumulation to application I believe that the power of BUIDL, time and sweat can speak;

I look forward to perfect regulatory formulation, brand-new technological changes, and excellent application model innovations ;

I firmly believe that the wheel of history has been rolling, and with continuous learning and hard work, we can become one of the bigger marks.

timeline part 1
timeline part 2

BTC price trend

Crypto plummet trend

Divided by field

Public chain


Since Bitcoin came out at the very beginning, many people are very interested in this decentralized peer-to-peer electronic currency system and are willing to contribute to it and for long-term investment, so they participated in In Bitcoin mining, professional mining projects have gradually emerged, and they are called mining circles.

Since the ICO upsurge in 2017, the myth of getting rich overnight has been passed on miraculously. More and more speculators have joined the cryptocurrency industry. They focus on For speculating on coins, and even issuing their own tokens, this group of people is called the currency circle.

Because the inherently weak programmability of Bitcoin cannot meet complex needs, Ethereum became popular with its excellent programmability, but soon people came to Unable to bear the low speed and high cost of Ethereum, at this time a group of outstanding engineers/technical personnel and entrepreneurs shouted the slogan "We are Ethereum Killer" and created many new public chains. This group of people is called the chain circle.

In the field of blockchain, people in these three circles even despise the chain. Those in the mining circle think that the currency circle is speculation and not investment. People in the circle feel that the mining circle is too old-fashioned and will only make dead money. The people in the chain circle have an academic tone because of their high technology, and they vaguely look down on these capital games. But at present, the opportunities for the entire industry are very large, and the industry without capital will not be able to develop rapidly. Therefore, people in the chain circle will sometimes be fomo because of this and some worldly distractions. In the future, the three circles will support each other, and capital, technology, and users will explode in an all-round way, so that there will be a better industry, which is our ideal Web3 industry.

Due to the efforts of people in the chain circle, countless public chains have appeared on the market for a while, but they are all done from the perspective of the impossible triangle of the blockchain Optimization,

Some reduce the degree of decentralization to improve efficiency such as EOS, Solana;

Some enhance scalability by natively supporting multi-chain cross-chain protocols, such as Cosmos and Polkadot;

Some use fragmentation technology to improve TPS such as Near;

Some break through the bottleneck of TPS and Confirmation Latency by developing a new Tree-Graph consensus algorithm, such as Conflux;

Some use the new programming language Move to improve programmability and asset security, such as Aptos, Sui;

Some put forward a whole new set of theories trying to get out of the blockchain 3.0 road, such as ICP;

Some proposed to divide the entire blockchain into multiple sub-chains Modules to improve composability and efficiency under a single function, such as Celestia, Fuel;

However, the Ethereum community has proposed Layer 2 solutions such as OP Rollup and ZK Rollup to Improve the TPS of the main network layer

OP Rollup includes Optimism, Arbitrum, etc.

ZK Rollup There are ZK-Sync, Scroll, Aztec, Starkware, Polygon zkEVM, etc.

In addition, there are Validium, Volition, Plasma, Sidechain, etc.

The battle of the public chain has lasted for several years, and it cannot be said that the dust has settled until now. It can only be said that Bitcoin and Ethereum are in a strong position because they have opened up a new world. Different scenarios have different advantages, so they also occupy a place. In the future, there may be a better new public chain, and it is also possible that an inexplicable event will drive a public chain to grow explosively and even beat Bitcoin and Ethereum. Let us wait and see!

DeFi

It can be said that from the day BTC came out, people hoped to be able to It is a decentralized way to conduct transactions, so financial innovations on this chain can be said to emerge in endlessly. In the very early stage, due to the low programmability of BTC, everyone did not think too much about this road (the aforementioned Mastercoin made an attempt in this area), and then Ethereum was born, and everyone's imagination space was opened up. They have adopted the form of ICO to raise funds to do things. With the finalization of the ERC20 Token agreement, the flow of assets on the chain is more convenient, and a series of financial innovation products are gradually launched:

Lending agreement

Aave
Compound
Maker

Dex Aggregator

1inch Network
Matcha
Paraswap

Dex

AMM-based: Uniswap, Balancer, Curve Finance, Bancor, Pancakeswap, 0x Protocol
Orderbook-based: dYdX, etherDelta (closed), Degate (mainnet Beta soon), MESProtocol

Derivatives

Synthetic Assets: Synthetix, UMA
Perpetual contracts: GMX, Perpetual Protocol, Injective Protocol, MCDEX
Options: Opyn, Hegic
Insurance: Nexus Mutual, Cover Protocol
ETF: Index Cooperative (TokenSets), PowerPool, Indexed Finance
Lottery: PoolTogether
Prediction Market: Auhur, Omen
Fixed Rate: Yield, Saffron.Finance, Horizon Finance, Notional
Revenue aggregator: Yearn Finance, Badger Finance, Alpha Finance, Harvest Finance
Oracle machine: Chainlink, Band Protocol
Data aggregator : The Graph Protocol, Covalent
Payments: Sablier, Superfluid
Dashboard: Debank, Zapper, Zerion
Cross-chain bridges: Multichain.xyz, Anyswap, Thorchain , Ren Project
Stablecoin
Centralization: USDT, USDC, BUSD
Decentralization: DAI, USDD
Algorithm Stablecoin : UST (already suspended), FRAX (partially backed by collateral, partly algorithmically stable)

Summary

Limited by cognition and space, many details of DeFi cannot be provided, here are only some key metrics
2018 DeFi TVL increased 5 times from US$50 million to US$275 million;
In 2019, DeFi TVL reached US$667 million, an increase of 2.4 times;
In 2020, DeFi TVL reached US$15.7 billion , an increase of 23.5 times;
In 2021, DeFi TVL will reach US$247 billion, an increase of 15.7 times;
In 2022, DeFi TVL will drop to US$39 billion (as of writing), compared with 2021 The highest point of the year has shrunk by 84%. From this, we can also see that 2022 is really difficult.

In general, DeFi is the closest to money, and it is a track with unlimited potential. I hope that there will be more innovative, high security, and low operating thresholds in the future products, Buidlers come on! Interested students can take a look at the following information

DEFI - From Inception To 2021 And Beyond (History Of Decentralized Finance Explained)

A Brief History of DeFi Development

NFT

From Colored Coins in 2012, to the popular Cryptopunks and CryptoKitties in 2017, to the well-known project BAYC in 2021, NFT has developed rapidly, and there are a series of fresh attempts, such as

Generation Art Art Blocks
Black and White Loot
Website Domain Name ENS
Virtual World Decentraland

Sports NBA Top Shot
Music Overstimulated

About NFT I don’t play much, there are only two NFTs , one is ENS, one is Art Party, the latter is bought for fun.

At present, there is a consensus in the industry that the narrative of avatar-like NFTs has come to an end, and more NFT gameplays are needed to bring the entire NFT market into flames. I don't have any comments on this point of view, because I don't play much, and I'm still at the level where I just want to look good, such as the style of Doodles.

But there is a very difficult problem in the NFT market is liquidity, because NFT is difficult to price and cannot be sold separately, so the seller does not know how to sell it. What price, the buyer does not know how to buy. So someone came up with some new ideas, for example:

Tessera (formerly Fractional) proposed that since NFT is unique and cannot be copied, you must buy the whole one, which is too expensive to cause liquidity Low, then I'll take it apart and sell it. This is NFT fragmentation, splitting a complete NFT into multiple small pieces, so that multiple people can obtain partial ownership of the same NFT, just like dividing a cake;

Rentable proposed that since NFT is so expensive and cannot be bought, or the seller does not want to sell it for pure collection, then we can just rent out NFT. In this way, NFT ownership owners can earn interest, and NFT lessors can take NFT out to install X. But at present, the Rentable project has closed down. Co-founder Emiliano Bonassi said that he did not find a PMF (Product Market Fit), and decided to abandon this track after careful consideration.

NFT trading has been suffering from OpenSea for a long time, and some exchanges have put forward their own ideas for various pain points of OpenSea

LooksRare pointed out that OpenSea has not issued coins, so the vampires directly attacked OpenSea users by airdropping LOOKS tokens to rob users. At the same time, they supported the transaction mining incentive plan. The transaction volume of the platform reached 320 million US dollars on the day it went online OpenSea;

X2Y2 proposes that NFT pending orders are the core of liquidity, so incentives will be calculated based on the contribution of the NFT on sale to the trading platform, This is more fair to ordinary users. In addition, X2Y2 also provides a package of trading functions, including batch sending, comprehensive rarity ranking, instant notification of buying and selling, bidding, etc.;

Magic Eden constructs a moat based on the high-performance chain Solana, which keeps OpenSea out of the Solana ecosystem;

Sudoswap's main platform has low transaction fees (only 0.5%), Liquidity pool, no royalty and low gas. It allows NFT holders to become liquidity providers by creating a trading pool, and has also made further optimizations in user experience, including series quotations, shopping carts, and floor price sweeping functions. However, the proposed 0-royalty mechanism has been sprayed by the community, especially the creators feel that their work has been insulted;

The gene of Blur is efficient transactions, in No one here likes long-term offers, but fast-paced buying and selling, just like a spot exchange;

BendDAO proposes that since the NFT proposed by Rentable is a pure lease The application scenario is too narrow, so I will think of another way. Since NFT ownership owners feel that the liquidity of NFT assets in their hands is too poor, but they cannot be rented out, BendDAO provides a solution for NFT mortgage lending pools, that is, from the original point-to-point lease to a point-to-pool model. Non-NFT holders can also provide ETH liquidity to earn interest; while NFT owners can mortgage their precious NFT to lend X% NFT value of ETH, but also need to bear certain risks, such as the mortgaged NFT floor price If the mortgage falls and the mortgager does not increase the margin in time, the mortgaged NFT will be liquidated on the chain. A while ago, BendDAO also experienced a liquidity crisis due to the sharp drop in NFT prices in the bear market, but the problem was temporarily resolved through emergency adjustments by the project party. Generally speaking, the NFT lending track is still in its early stages, and there are still many difficulties to be resolved.

Element is a cross-chain aggregation market, and the user experience is invincible on the BSC chain, which can be regarded as a dimensionality reduction blow for a typical Web2 efficient entrepreneurial team. Its royalty policy is to unconditionally support creators and follow the royalties set by creators.

GameFi

Since the launch of Stepn, many people have been interested in this kind of running while running. The idea of making money is full of praise, the game’s anti-cheating mechanism is excellent, running is just what many people need, and the excellent team and other qualities have become the advantages of this project for a while. But soon Stepn fell into a death spiral due to the lack of sustained strong user and capital growth. From Axie from play to earn to Stepn from move to earn, people have gradually lost confidence in the X to earn model, thinking that it violates the first principle of the token economy, that is, it is necessary to ensure the balance of capital inflow and outflow. To make money instead of consumption, the value of tokens will eventually collapse due to hyperinflation.

I used to be a semi-professional player in CrossFire China. I ranked Top 10/300,000 in the qualifying competition, and I also established a high-playing team of about 100 people. Therefore, I am qualified to speak about the understanding of gameplay. If a game wants to continue, it must have a user base, and users will stay only because

Everyone around me is playing I want to fit in.
I am well equipped to satisfy my vanity
I have good skills and are respected
Develop as a profession
Passing the time
You can make money

So considering the user base, we can know that if only pure thinking is left People who make money are unsustainable, otherwise

I want to be in a group, but I really don’t think it’s fun. For example, if my friend asks me to play League of Legends, I think it’s always there Walking is really boring, I just like to shoot guns;

If you want to satisfy your vanity, everyone is busy making money, no one cares whether your equipment looks good or not How, unless you can sell more money;

If you want to be respected, you have to earn more than others, because everyone doesn’t pay attention to technology, although technology Well, it is relatively easier to make money;

If you want to develop your career, everyone is making money in this industry. Without the participation of the public, where will the money come from?

To pass the time, the game is full of people who are busy making money, and there may be no reason for anyone to chat with you and practice skills, how can you pass the time?

Make money, ok, then everyone is making money, whose money is it? Whoever is poor in technology will pay for it? Isn't that a gambling game? Can't we just play poker directly?

Therefore, users stay only because of high playability, and users are willing to krypton gold, so that for the entire game, old funds are consumed , new funds flow in, new gameplay is developed, and there is a positive cycle. Even the community can directly participate in game production, which is also a major advantage of the Web3 industry. In the past, Tencent released a new version to adjust the parameters of firearms, and the community scolded them all, but will the authorities care about you? But now you can hold project tokens, you are a co-builder, you can participate in voting to make a voice, change the direction of game design, regardless of the result or not, at least there is a sense of participation.

I don't have a clear answer to the future development of GameFi, but I believe that the original intention will not change. Game playability and fun are things that the project party should consider, no matter whether the game is on-chain or off-chain, free to play or pay to play, play for fun or play for X, the game is your asset It always needs to be your asset, and it must support the interoperability of multi-game assets. You can quit a game at any time. After all, users don’t need to pay for a junk game.

SocialFi

The Lens Protocol developed by the Aave team programs some behaviors in the social field to the granularity Users can add behaviors such as likes, follows, and comments to their own .lens identity NFTs to form a complete set of social graphs. With the growth of social data, the value that the entire network can provide will increase. .

Bluesky , led by former Twitter CEO Jack Dorsey, is currently in the internal testing phase, and you can apply for it. The ATP (Authenticated Transfer Protocol) developed by the Bluesky team has made a complete set of solutions for functions such as identity, storage, interoperability, account portability, federalism, algorithm selection, and speech dissemination. If its logic is self-consistent and the design is reasonable, With the excellent performance of the protocol, I believe that with Jack Dorsey's idealism and appeal, Bluesky can gain many users, and look forward to the public beta!

Mastadon, which has been very popular recently, is a micro-community social platform similar to Baidu Tieba. Many Twitter refugees have flocked due to troubles such as account banning/speech control Entering here, Mastadon is translated into Chinese as a mammoth, which is a semi-decentralized system that is not subject to centralized control by any entity. Numerous mammoth servers are semi-independent, but they can communicate with each other through the same protocol ActivityPub. The identity sharing between servers forms a large cluster together, which can be regarded as a very delicate protocol-driven product.

In short, SocialFi is still in a very early stage,

There are not enough information producers It is a problem for the entire industry
The problem of information dissemination path has been solved
Information capitalization has been tried

We don’t know if there are more problems, but DID must be the first problem to be solved. After all, there is no identity and no social interaction.

DID

For specific analysis, please refer to my previous article ACM analysis method explains DID track in detail

Wallet

The wallet track must be the basis for Mass Adoption, there is no one safe, Easy-to-use wallets, it is difficult for the public to enter this industry.

At present, the wallet track is generally divided into the following categories

Paper wallet

As the name suggests, it is to write down the key with a piece of paper, never touch the Internet, but there is a risk of loss.

Hardware wallet

Hardware wallet refers to The digital asset private key is stored separately in a chip, isolated from the Internet, plug and play. Hardware wallets cannot be guaranteed to be 100% safe. For example, if a Geek obtains your hardware wallet, even if he does not know your private key, he may crack it by force. It's just one of the safest storage methods compared to other storage methods. The more popular hardware wallets on the market include Ledger, Trezor, OneKey, etc.

Multi-signature wallet

The previous wallets can transfer assets with a private key signature, while some DAO organizations or Web3 organizations require multiple people to sign together to allow asset transfers for security reasons. So the multi-signature wallet appeared. After a transaction is initiated, the transaction can be confirmed and executed by the multi-signature address only after the private key signature of the lower limit set in advance is reached. For example, the total number of administrators in a multi-signature wallet is 7. When a transaction is initiated, at least 4 people must confirm it before the transaction can be executed. This is guaranteed by the contract code.

The benefits of multi-signature wallets are:

Improve account security, compared with single-signature Wallets, hackers need to crack the private keys of multiple people to transfer assets;

Realize data backup. Compared with single-signature wallets, the loss of one private key will lead to all assets Lost, and a multi-signature wallet such as a 2/3 wallet, even if a private key is lost, it can still be traded normally, and more administrators can be added later (different wallets have different plans);
 
Convenient arbitration, such as 2/3 multi-signature wallet, 2 founders of the company each hold a private key, when there is a disagreement, the court holding the last private key can participate Arbitrate who can transfer the final assets. Of course, this also involves the issue of a founder conspiring with the court, but it will not be discussed here.

The disadvantages of multi-signature wallets are:

The risk of private key loss cannot be completely ruled out, for example Strict 2/2 multi-signature wallet, if you lose any private key, you will still lose all assets. This setting scheme may only be used in specific scenarios, and users need to pay attention to their own risks;

The operation is inconvenient. For example, we only want to transfer 1 USDT, but we need to find 3 busy people to sign together, and the transaction time is greatly extended. Of course, the example here is rather extreme. After all, multi-sig wallets are used, and it must be millions of transfers at every turn.

The most famous multi-signature wallet on the market is Gnosis Safe.

EOA Wallet

EOA (Externally Owned Account) wallet is an external account, and its counterpart is CA (Contract Account) wallet, which is a contract account.

The wallet you generate in the hardware wallet Ledger and the plug-in wallet Metamask is the EOA wallet. It is characterized by being easy to generate, but you must keep the mnemonic, and Functionality is limited. The EOA wallet is currently the most popular wallet, but it is not friendly to newcomers. If you don’t pay attention, all assets will be reset to zero. Some are phished, and some have forgotten their mnemonic words.

For example, in November 2022, Shen Bo, the founder of Fenbushi Capital, suspected that his private key was leaked, and all 42 million US dollars were stolen.

MPC Wallet

Because the EOA wallet The management of private keys and mnemonics has been criticized, so MPC wallets appear, which use MPC (Multi-Party Computation) technology, by allowing multiple entities to hold a part of the private key, and using threshold signature TSS (Threshold Signature Scheme) to help Solve the problem of private key and mnemonic management.

MPC works by splitting traditional private keys into multiple parts and distributing them in multiple places to ensure that no one has full access to the complete Private keys, private keys are always used in a distributed fashion. When a transaction signature is required, the involved parties (two or more) respectively calculate a secret share, and then all the secret shares are mathematically fused into a final valid signature, so that the transaction can be confirmed. In this process, no entity can access the complete private key, that is, there is no single point of failure. Even if an attacker tries to attack any of the parties, he cannot access all "secret shares" at the same time. safer.

Of course there is another way of SSS (Shamir Secret Sharing), this way is to really cut a private key into multiple sub-parts, and then multiple parties separately Combining multiple sub-private keys into the final private key to sign, this method will have a single point of failure, because the complete private key must always appear in a certain place, as long as the hacker can attack this place, all assets can be transferred .

Currently popular MPC wallets on the market include Zengo, Qredo, Openblock, Fireblocks, safeheron, etc.

Smart contract wallet

Above wallet It still confuses novice users. As a non-technical student, he still needs to learn intricate concepts such as signature algorithm, gas price, gas limit, and blockchain transactions. The root cause is that the abstraction of external accounts is not enough. The current wallet can't make us as simple as making a phone call. We should only care about how much it costs per minute to make a call. We don't need to know the configuration of the phone line, how the phone works, or how the phone works. How the signal is propagated, and there is no need to know how the phone signal is turned into sound.

So someone proposed the concept of account abstraction, we abstract all the complex content of the wallet, so that users only need to face a simple shell. In this way, the user experience becomes better, and secondly, technicians can also add more complex logic at the bottom of the technology (of course, it still needs to be simple and clear for users). For example

The wallet can support flash loans, and users can provide authorization to obtain profit fees (only when there is a real profit opportunity, the wallet provider can embezzle the user's money ), while the wallet provider can get a handling fee;

Transactions below 100 USDC only need one signature, while transactions above 100 USDC require Multi-signature, which not only ensures the security of assets, but also ensures the ease of use;

Think of the wallet as a decentralized Apple Store, you can choose to install Any decentralized application, for example, if you have installed Uniswap in your wallet, then you can do LP Staking in it to earn handling fees;

Wallet support lower limit Price list, for example, the price of ETH limit sell order is 1000, only after I ensure that the counterparty gives me 1000 USDC, the wallet program will automatically transfer an ETH to the counterparty, and the transfer will be successful;

Social recovery can be done. For example, when I created a wallet, I set 6 relatives and friends as my social recovery people (threshold is 4 people). When I lost my private key, I found For these 6 relatives and friends, let 4 or more of them sign for me to prove that my wallet can be restored, and I can reset the wallet key;

Since it can be recovered socially, even if the key is lost, we are not afraid, so we can try the solution without mnemonic and private key, that is, I can use ordinary email to register and create a wallet. Once my email is stolen , since a single-day fund usage limit is set, and it takes 72 hours to change the fund limit to take effect, so the loss is not big, and I immediately recovered socially. If the mailbox is not stolen, then I can use it normally. In this way, the seamless migration of Web2 users, Mass Adoption is just around the corner. Of course, there are still many corner cases that need to be discussed and dealt with, and a new article will be dedicated to it later.

Currently popular smart contract wallets on the market include Unipass, Argent, Particle Network, MagicLink, Web3Auth, etc.

Metaverse

Metaverse is a big concept, including 5G, cloud computing, computer vision , blockchain, artificial intelligence, Internet of Things and many other popular IT technologies.

I don’t know the details, I only know that Meta chooses all in Metaverse, and many hardware companies and digital media companies are already participating. I hope to see it in the future More product and disclosure coverage.

DAO

Although the original The DAO was hacked, it did not stop people from pursuing With the determination of centralization, various types of DAO organizations have sprung up one after another, bringing huge contributions to the entire Web3 industry.

Protocol DAO

MakerDAO is a typical A decentralized collaborative entity that helps build the protocol, each Maker holder has the right to have MakerDAO's coordinating department respond to it. In addition, there are CurveDAO, CompoundDAO and so on.

Invest in DAO

The LAO is this A pioneer in the field, by gathering capital and investors, LP decides whether to invest through voting, but most of the time everyone trusts each other, sometimes even less than 10 people participated in the vote.

The MetaCartel Venture DAO aims to fund and support projects looking to improve usability, user experience or further experiment with new Web 3.0 use cases. The motivation for building this DAO is to attract the most motivated and loyal Dapp developers in cryptocurrency and ultimately support their success. Interestingly they even invested in several DAOs.

Funded DAO

For example Uniswap Grants Program , Compound Grants Program, etc., project parties or individuals can express their contributions to the community through applications, and once approved, they can receive sponsorship fees. These DAOs support promising projects and people, hoping to forge new paths for new Web3 contributors.

Gitcoin is an ecosystem of developers and contributors collaborating in a DAO to build a decentralized network. Since their founding in 2017, they have distributed more than $72 million to more than 11,000 Web3 projects, especially in the third quarter of 2022, with an average donation of more than $8,000 per business hour.

Media DAO

Bankless DAO is a Typical of media DAOs, its goal is to drive adoption and awareness of unbanked monetary systems such as Ethereum, DeFi, and Bitcoin, and it does so through the collective engagement of the community.

Creator DAO

Creator DAO is An exclusive community that brings together a creator's loyal fans. This exclusive club is only accessible to users who have a pass, usually in the form of an NFT of the creator.

For fans, by holding the tokens of the creators they support, they cease to be passive followers and content consumers: they become creators Active stakeholders and owners of the microeconomy. When demand for Creator Tokens rises, for whatever reason, early backers can profit by selling their tokens.

A recent example is IreneDAO, an Asian social media influencer who sees DAOs as a more direct and meaningful way to connect with fans Way.

Service DAO

like YGG DAO The game guild DAO of YGG serves gamers and gold diggers. YGG DAO will participate in voting on topics such as technology implementation, token distribution, community structure, product iteration, etc. Any Founder, Advisor, Investor and community members can participate;

BadgerDAO is a community dedicated to bringing Bitcoin and its collateral to DeFi.

Digital City DAO

SeeDAO Mission It is "exploring the content production relationship based on Web3.0". Note that Web3.0 is used here, which means that more blockchain technology is used to promote this exploration process, which does not mean that all aspects must be done. Centralization, as long as it adopts a decentralized and free-thinking approach as much as possible, it is enough for a group of people to gather together to generate huge production value.

Social DAO

Friends with Benefits ( FWB) is a classic social DAO. If you want to get membership, you need to apply. Writing a small article to introduce yourself is indeed a bit troublesome. I was persuaded to quit in the same way at first, but according to others, you can actually write whatever you want.

FWB proposes the concept of Vibe's organizational culture by connecting hobbies and hobbies, which greatly meets people's online and offline social needs. And it can play a social role in promoting resource sharing. Each Season, FWB also has an open call for cultural contributors, including grantees, fellows, and artists-in-residence. While all FWB programs are member-led, they also rely on dedicated contributors to fill various full-time and part-time roles within the organization. Contributors are responsible for new member onboarding, newsletter writing, internal editorial contributions, participation in new partnership opportunities, oversight and governance of the DAO, and more.

Resource Scheduling DAO

ConstitutionDAO was established in November 2021, with the aim of purchasing the original copy of the US Constitution. The DAO raised $47 million in the ether cryptocurrency but lost out at a Sotheby's auction with a bid of $43.2 million.

FreeRossDAO is an organization governed by the owners of $FREE, a token representing fractional ownership of Ross Ulbricht's artwork. The DAO's mission is to "free Ross Ulbricht, advance prison reform, and share the work of Ross Ulbricht with the world and provide everyone with a unique opportunity to share it."

PleasrDAO is a collective of DeFi leaders, early NFT collectors, and digital artists who have built a strong and benevolent reputation for acquiring culturally significant works for philanthropic purposes. The DAO now has some of the most iconic NFTs in cryptocurrency. In fact, FreeRossDAO is funded by PleasrDAO.

Summary

DAO is an organization, When there are few people, there is a high degree of autonomy, high efficiency and strong cohesion. Once the organization grows, many people will forget their original intentions, and newcomers will not know the organizational culture. Next, issues such as identity, organizational structure, community governance, salary and remuneration, cultural construction, and organizational vision need to be resolved urgently.

So we can see that the advantage of DAO is that everyone can participate and be transparent. In the end, I didn’t go according to my ideas. I can choose to be independent Leave, or be persuaded by others. In Web2 companies, except for executives, ordinary employees lack feedback channels and opportunities to participate in decision-making. Over time, they simply leave without hard work. I don’t think this is the fault of the employees, but the human desire to seek advantages and avoid disadvantages. Nature, character dictates.

I think the relationship between people and DAO should be in the following order,

Understand this The vision of DAO, I am interested, I am willing to contribute, ok, I will join;

There are many people in DAO, everyone agrees with me, I also appreciate it They, identity;

The development of the organization is getting better and better, my contribution is increasing day by day, the respect I get is getting more and more, and the sense of accomplishment is getting stronger;

A lot of newcomers join, I give them training, repeat the step of identity recognition, but gradually need more mature identity management facilities, such as the development of DID track ;

The organization has become bigger, and many decisions can no longer be simply made by one person, one vote. Therefore, the whole people made a proposal, set the organizational structure, elected representatives by referendum, and have different responsible persons in different directions; More and more, there needs to be a certain material return, so the salary plan needs to be formulated reasonably, and there is a suitable supervision system;

Someone wants to leave DAO If you are organized, you need to have a perfect exit mechanism. Of course, leaving with a wave of your hands can also be considered a perfect exit;

Old organizational structure, old Problems gradually appeared in the person in charge, and we found that regular review and re-election were needed, so a 3-monthly election review meeting was formulated. No one can fully control the entire DAO organization, and it will continue with time/contribution/industry development Self-adjustment;

Many meetings, notes, and outputs in the organization have been sorted out and become things like history books, which gradually become organizational culture and are also

The new DAO repeats the above process;

Each DAO establishes diplomatic relations and forms Joint DAO to discuss public affairs in the DAO world. Of course, if you are uncomfortable, you can directly create a joint DAO with other DAOs and play your own.

In short, DAO needs to generate value, otherwise there will be no sustainability, but it does not matter whether this value is purely internal or external, whether it is selfless dedication or paid purchase .

I firmly believe that for newcomers, joining a DAO to learn is definitely in line with the central idea of this article. Remember the 6W2H at the beginning? I personally participated in FreeRossDAO, SeeDAO, BadgerDAO and Gitcoin DAO. I learned a lot in these communities, and I was attracted by the charm of this decentralized team.

Blockchain Security

We have seen various hacks over the years Attack methods, including but not limited to:

Flash Loan Attack
Oracle Machine Attack
Wallet Attack
Social Engineering Attack
Reentrancy Attack
Authorization Attack

Including SlowMist, CertiK, Beosin, Many blockchain security teams, including Numen Cyber, are protecting us day and night. Not only have they output the review analysis of one Hack case after another, but they have also discovered many loopholes in advance, thanks to Sahua!

Investment and Financing

Regulation and Compliance

Summary

The term Web3 represents people's desire for freedom yearning, want to build an ideal new country through a series of new technologies, where everyone is a sovereign individual. One person's power is limited. By dividing all work vertically into multiple levels and horizontally into multiple tracks, a good division of labor allows problems to be decomposed and solved better.

As more and more outstanding talents come in, the problems of a single track are gradually solved, and eventually we will definitely need to solve the commonality across tracks question. Therefore, if the infrastructure is in place, at least from a technical point of view to ensure feasibility and safety, from an application point of view to ensure ease of use and fun, and finally from a business model to ensure sustainability, the entire industry will definitely be full of vitality in the future!

About the future Web3 industry Conception

Divided by role

There are many roles, find yourself If you are interested, it would be even better if you happen to be good at it. Of course, this refers to the role, not the same as the recruitment position. Being a boss can still write code, manage the community, and make investments, and the role does not conflict with the profession.

Investment Analyst
Strategic Analyst
Engineer
People Manager
Back-end Engineer
Front-end Engineer
Full-stack Engineer
DevOps Engineer
Smart Contract Engineer
Security Engineer
Blockchain Engineer
Quant Engineer
UI/UX Designer
Operation
Making
Technical Writer / Content Engineer
Product Manager
Community Manager
Human Resource
Data Analyst
Researcher (Individual)
Sales Agent
Customer Service Agent
Lawyer / Legal Counsel
Finance
Finance
p>
Tokenomics Engineer
Public Relationship

Summary

The above roles do not conflict with each other, one person can have multiple identities.
An accountant during the day, and a dance teacher at night;
Online is a pseudonym, offline is a big guy who picks his feet;
The front is Dong Shi, the back is the back killer.
I look forward to finding your own Web3 role as soon as possible!

Learning method

Self-awareness

When you come to the Web3 ecology, you are no longer a child living in swaddling clothes waiting to eat and drink, and you are no longer a student living in an ivory tower. You are no longer a useless class with no sense of responsibility and no responsibility. You have to start to have the awareness of active learning.

Recently, we organized a group to read the book "Individual Sovereignty" and we agreed that the prerequisite for becoming a sovereign individual in the new era is to have autonomy Awareness, being proactive is good everywhere, including falling in love, right, taking the initiative to take that step will have a future.

Holding together for warmth

I wanted to use "near vermilion is red, near ink is black" This idiom, but I think it is too heavy, life/work/entertainment are different in all aspects, and different people have different sides. If we don’t cooperate with him in one aspect, it doesn’t mean that we can’t ask him for advice in another aspect.

Just like many classmates in the Z era, they are mixed in different DAO organizations, including translation guild, governance guild, design guild, product guild, investment guild Research Association, Developer Union, where they can meet many new classmates and learn a lot of new knowledge. Even in such a bear market winter, you can feel a little warmth from the people around you in discord.

Win-win cooperation

In fact, there is a difference from the above grouping for warmth, holding together for warmth It is more emphasized that you have entered a community, and there are many people around you who have the same interests as you and are doing similar things. And when you decide to study a certain direction or specific things, you can find one or more people from the community or friends around you, who are also extremely interested and able to reduce risks/accelerate efficiency/optimization When you promote your work, you achieve a win-win result.

So from this aspect, we can also see that a win-win situation means that both parties win, and both parties have more or less achieved their goals. Therefore, starting from this point, it is best for us to discuss in advance what the other party can help me and what role we can play in helping him accomplish his goals before starting cooperation, so that the smoothness of cooperation and the final effect will be better. good.

Breadth first and then depth

When entering a new field, I personally prefer Look around first, understand everything first, and after accumulating a certain amount of industry knowledge and a wide range of perspectives, find the part you are interested in and good at, drill in and learn a deeper level, and then compare left and right to verify each other , and finally form a T-shaped, even desk-shaped knowledge structure.

The final result you expect to achieve is that you have basically heard of everything in the industry, and you are proficient in several aspects, so you can do it for Xiaobai The point of understanding.

T type, type, Desk type

What you really want

This topic is discussed in this order because I think it is difficult for you to know what you want without some research.

At this point, you already know more or less the structure of the entire industry, and you also know which one you are more interested in and which one you are good at. It will be more natural to think about what you want at this time. But this part is not static. You can adjust at any time with the development of the industry and your own growth. You just need to have a sense of purpose for a period of time.

Input promotes output, output reverses input

When we learn a lot of new things Sometimes, it is inevitable that you will want to share it with your parents, lover, good friend, and online classmates. There are many forms of sharing,

Video such as Youtube, bilibili, etc.
Audio such as Apple Postcast, Himalaya FM, Xiaoyu, etc.
Articles such as Medium, self-owned Blog, Mirror, public account, etc.
Miscellaneous thoughts such as Twitter, Zhihu replies, etc.

To achieve a good sharing effect requires our input to be of high quality and our thinking to be deep, so good input will promote output.

After all our input and output are finished, if we still want to continue sharing, we will be forced to input more high-quality resources, so as to achieve Flywheel effect on learning.

Open minded

Don’t be limited by your thinking, we should pay more attention to different For example, I follow more than 4,000 people on Twitter. I don’t read all the content, but I like this kind of randomness. Suddenly one day I saw a post made by a person, and I thought it was really reasonable. If it resonated, I added him to my List and started to pay attention. Over and over again, I will have a broader perspective.

Less is exponentially More

There are too many things, I really can’t learn, why manage? As we mentioned earlier, we need to have a clear goal for a period of time. As adults, we don't necessarily want everything, we can also make choices.

So the question turns into "Eventually we both will, but at this point I'll pick one first".

Slow is fast

Don’t try to learn something fast, be careful not to “not be fast” , but "you can't just look fast". Slowly understand, study, and thoroughly understand something, so that you can explain it to Xiaobai, and gradually you can connect all the things you have learned, and you will find that the road is the simplest, and slow is fast.

Focus

As mentioned earlier, slow is fast, but sometimes learning slowly It will lose focus, so we have to set deadlines and checkpoints for ourselves, and speed up the progress on a slow basis.

Concentrate on overcoming a small problem for a period of time, for example, earn a small goal first.

Communicate more

People always say to look up at the sky and bow down to do things. For this day, some people think it is the political situation, some people think it is the industry trend, but I think that in the final analysis, it is necessary to deal with the outside world and not to be closed in a small circle.

Extend a little further, that is, we need to communicate more, communicate with real people, communicate with netizens, communicate with books, and communicate across the air. At the end of the exchange, we found out that it is actually learn from others, learn their strengths, and learn their lessons. For example, different public chains learn from each other, for example, different trading institutions learn lessons from FTX.

Don't stick to the rules

There is a saying in the programming language Golang community called: "Don't communicate by sharing memory. Share memory by communicating".

The memory here refers to the memory of the computer. If multiple processes read/update the same memory at the same time, it is prone to deadlock/read issues like stale data, so they recommend sharing memory by communicating instead of communicating by sharing memory.

But in life, I think it is possible to communicate through shared resources. For example, I wrote an article, you can comment on it, and I can invite You co-edit with me, there will be no deadlocks and outdated data reading due to our operations, because our speed is completely incomparable with the speed of computer processes. Therefore, the iron law of programming does not need to be followed in upper-level application scenarios.

This also tells us a truth, don't stick to the rules, and discuss the specific practices of specific scenarios, case by case.

For example, the above are some suggestions I gave based on my own experience, but you don't have to follow them, you can go out of your own rhythm.

Learning resources

Books

《How to Bitcoin》, explained The history and operating principles of Bitcoin, providing advice on security and wallets, I personally think it is the first book you need to read when you come in to learn

《How to DeDi: Beginner》, covering almost all commonly used DeFi on the market Classification and key agreements, newcomers can enter DeFi to practice after reading it, but at this time it is recommended to invest a small amount of money

《How to DeFi: Advanced》, in-depth analysis of the advantages and disadvantages of different protocols in each DeFi track, detailed Describes some technical side principles, and gives related learning links, very suitable for in-depth research as a knowledge base

《How to NFT》, for me who rarely plays NFT, it can almost be regarded as After reading the storybook, you will understand the history of NFT, how to create/trade NFT, the types of NFT, the combination of NFT and DeFi, the future of NFT

"Blockchain Red Book--the most down-to-earth currency circle "Dictionary", from A to Z, covers a wide range of topics, with easy-to-understand explanations and related case presentations, and is quite friendly to newcomers.

Web3 Black "Summary", mainly some black words in the Web3 industry, if you don't know what gm is, it is strongly recommended to improve the knowledge system

"Web3 vocabulary that is prone to mispronunciation", if you think If the G of Gnosis Safe needs to be pronounced, then it is necessary for you to correct it. This is not your fault, because many times the community will deliberately set the wrong pronunciation, just to distinguish whether it is an industry insider

"Blockchain Dark Forest Self-Help Handbook", a series of blockchains produced by SloMist Security tutorial, explaining wallet storage methods, privacy protection, common phishing techniques, what to do after being hacked, etc. As anyone in the industry, I think it is necessary to read this manual, which will greatly reduce your asset risk.

《Mastering Bitcoin》< /a>, the whole book describes Bitcoin addresses, wallets, transactions, scripts, network, mining, consensus, security and other in-depth topics, it is an advanced book

"Mastering Ethereum", the book describes the basics of Ethereum, clients, Encryption algorithm, wallet, transaction, programming language, token, oracle, DApp development, EVM, consensus algorithm and other technical topics, is an advanced book

Organization class

Moledao , a decentralized community that gathers Developers, Entreprenuours, and Investors. It will organize offline gatherings and online sharing. The atmosphere is very good and it is worth coming to learn.

WTF-Academy , I participated in it very early and contributed a lot of content, mainly teaching you Solidity and Ethers.js in vernacular from 0 to 1, and interspersed with many real cases in the industry, which is very suitable for newcomers to get started. The communication and discussion atmosphere of the organization is also very good. Sometimes there are thousands of messages a day, and they are all dry goods.

SeeDAO, its The mission is to "explore the content production relationship based on Web3.0". Various thoughts on community governance are worth pondering over and over again. It is a very typical DAO.

7upDAO, many of the articles in it are of good quality, and it has gathered a group of Chinese at home and abroad.

DeveloperDAO / BuilderDAO, there are many developers in it, if you want to exchange technology, go in and have a look

DappLearningDAO, this organization has a lot of technical content about DeFi, and regularly holds code-level sharing

LearnWeb3DAO, has produced a series of courses for fighting monsters and upgrading. Sophomore has become more difficult in an instant, but the system is relatively complete. I like it very much

Twitter

My suggestion is to maintain the Lists well, and then go to the corresponding List if you want to see different content. PS: This is also the way an OG brother shared it with me.

If you want to pass the time, just go to the Home page directly, just like visiting Zhihu before, time is like water.

Public Account

SevenUp DAO, the latest hot article update, the quality is quite high

AnT Capital, the content is mostly research reports, comprehensive track analysis, and investment thinking, it is worth learning

Yuanwang Capital iVision, mostly for investment report analysis, personally feel that the writing style is more financial, rigorous and information-intensive

Rebase community, Will send Web3 Geek Daily

Dora Factory, the article is sometimes more technical hardcore

Research Newsletter/Newsletter/Mirror

This needs to be explored by yourself, after all, there are too many things, I will give some examples, you can start here

Messari
Delphi Digital
Coinbase
a16z
Huobi Research
Huobi Research
p>
HashKey Capital
The Block Research
Glassnode
Bankless

Podcast Podcast

I especially like listening to podcasts while exercising recently, the brain and body are improved at the same time, and it saves time. The experience of audio learning and text learning is really different, and sometimes it is necessary to switch.

Here are some podcasts that I have been following. I don’t need too many, because many podcasts are homogeneous. The following can be found in Apple Podcast, Cosmos or Himalaya FM applications

Web3 101, a sub-podcast split from Silicon Valley 101, the content is really cutting-edge, Very in-depth

Fork it, the content is very hard core, the host is also an industry OG, I especially like the last recommendation link


Crypto 101, easy to understand

Web3 Academy, keep up with current events

Builder Talk | Web3 dialogue, this podcast feels very liberal arts, but I like it very much

Orange Book, listened to a few episodes, I like it more The point is to really start from scratch, crush it and feed it into your mouth, but there are very few updates. It is strongly recommended to find the episode that interviewed SeeDAO, which made me feel the passion of that moment

Meida media information

You don’t need to pay too much attention to the information category, one is enough, even if you don’t want to read other information, you will eventually see it

Chainfeeds
Foresight News
BlockBeats
PANews
Deep Tide TechFlow

Coinlive
Jinjin Finance

Courses


The following are all used by myself, and it is recommended to complete them in order

Blockchain technology

Blockchain technology and Application (Peking University teacher Xiao Zhen open class)
Blockchain Technologies ( Stanford Course CS251)

Financial Currency

MOOC | Perry Mehrling - Economics of Money and Banking

Password Learn

Practical-Cryptography-for-Developers, Chinese version Practical Cryptography for Developers

Programming Language

Cryptozombies Follow along and finish learning solidity grammar while making a zombie game. I will also teach some Dapp integration operations. Finally, you can get NFT to receive

Solidity By Example

WTF-Solidity , I contributed a lot of content, be sure to finish it

WTF-Ethers

Master Cui Mian, an up master of station b, spoke quite well

EVMethereum_evm_illustrated, some content is outdated, but still worth a look

Dapp Development

scaffold-eth, there are some development scaffolding, both the front end and the contract end Once set up, all you have to do is to simply write the application business logic, and then do some tests locally. I personally think it is very good, and there is also a Telegram community where you can ask questions, which is very convenient.

full-blockchain-solidity-course-js, this course lasts for 32 hours, and there are supporting videos. The advantage is that its background is all unified, which is equivalent to a cognition from 0 to 1, which helps You build a complete set of development framework to let you know the whole process of Web3 Dapp development, including some common means of industrialization.

LearnWeb3 Course Series , Upgrade to fight monsters, standardize the process, I personally think it's pretty good, with a sense of purpose

Road to web3 Produced by Alchemy University, there are 10 specific case projects, all within 10 weeks After learning, there are documents and videos. I heard that there are other courses out now, you can also take a look.

Platform Tools

Learn to earn: Rabbithole
On-chain analysis: Dune, GlassNode , Footprint, Nansen, DefiLlama
Anti-phishing: MetaShield
Authorization cancellation: revoke. cash
Looking for a job: web3.career, abetterweb3
Project financing: CypherHunter
Security event: rekt
Wallet asset Dashboard: debank, Zapper
Anywhere to ask questions: curious.xyz

Conclusion

Thank you for reading all the above content, and look forward to sharing your learning results with you.

Meeting is fate, let us BUIDL together! LFG!

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To All: How Rapid Characterization Into Web3 Today

Table of Contents

Web3 panorama

Divided by timeline

Summary

Divided by field

Public chain

DeFi

NFT

GameFi

SocialFi

DID

Wallet

Metaverse

DAO

Blockchain Security

Investment and Financing

Regulation and Compliance

Divided by role

Learning method

Self-awareness

Holding together for warmth

Win-win cooperation

Breadth first and then depth

What you really want

Input promotes output, output reverses input

Open minded

Less is exponentially More

Slow is fast

Focus

Communicate more

Don't stick to the rules

Learning resources

Books

Organization class

Twitter

Public Account

Research Newsletter/Newsletter/Mirror

Podcast Podcast

Meida media information

Courses

Platform Tools

Conclusion

2025 Web3 Job Market Report: 10,000 Candidates Compete for 28 Positions, How Can You Stand Out?

Web3 Payment Research Report: From Electronic Cash, Tokenized Currency, to the Future of PayFi

Founder of Xiaoyouling shares entrepreneurial insights: Don't come to start a business if you want to make quick money.

Matr1x, one of the gods, breaks the shackles of Web3 game development with a single shot.

A brief analysis of Web3 Identity Infrastructure: Wallets, identity proof, and Privacy systems