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The rise of Telegram mini apps like $NOT, $HMSTR, and $DOGS onboarded many into web3,
but it's important to fully understand what web3 is.
If you want to thrive in this space beyond just tapping, you need to learn the basics.
Here's all you need to know about Web3
A thread🧵
✦ Here’s an outline of what you’ll learn:
1. What is Web3?
2. How is it different from Web2?
3. Blockchain basics
4. Cryptocurrency and its role in Web3
5. NFTs explained
6. Decentralized apps (dApps)
7. How to get involved in Web3 today
8. Learn Web3 With These Free Resources
9. Web3 Terminologies
10. Conclusion
✦ What is Web3?

Web3 is the next evolution of the internet, where users have more control and ownership of their data and online interactions.

Think of it like moving from a landlord-tenant relationship (web2) to being the owner of your
house (web3).

In web3, you’re in control, and everything is decentralized.
✦ How is it Different from Web2?

In web2, you interact with apps like Instagram or Twitter that control your data and content.

Web3 flips the script, allowing you to control what you share and who has access to it.
Web2 feels like renting a space on the internet, while web3 is all about owning your online identity.
✦ Blockchain Basics

Blockchain is the backbone of web3.
Imagine a public record book that everyone can access, but no one can alter without approval.
It’s decentralized and secure, ensuring trust in a system where no one controls the entire
network.
That’s why blockchain is so crucial in web3.
✦ Cryptocurrency and its Role in Web3

Cryptocurrencies like Bitcoin and Ethereum are digital money that operate on blockchain
technology.

In web3, crypto allows you to trade, invest, and earn money without needing a middleman like a bank.

You can send money directly to anyone, anywhere, without delay.
✦ NFTs Explained
NFTs (non-fungible tokens) are digital assets that represent ownership of unique items, like art
or collectibles, on the blockchain. Think of them like owning a limited-edition item that can’t be
copied.
In web3, NFTs allow creators to sell their work directly to fans, cutting out the middleman.
✦ Decentralized Apps (dApps)
Unlike traditional apps like Twitter or TikTok, dApps run on a decentralized network, usually
a blockchain. This means there’s no central company controlling everything.
Instead, users contribute to the app’s success and even share its profits.
In web3, you can use dApps for everything from social media to gaming.
✦ How to Get Involved in Web3 Today
Getting involved in web3 doesn’t require you to be a tech expert. You can start by creating a
crypto wallet, exploring #dApps, and even buying your first #NFT.
It’s like learning a new game – the more you play, the better you get. Start small, and grow your
skills as you explore.
✦ Learn Web3 With These Free Resources
Below are free resources, tutorials, and courses to help you master web3:
● Whitepapers
○ Bitcoin Whitepaper
https://bitcoin.org/bitcoin.pdf
○ Ethereum Whitepaper
https://ethereum.org/en/whitepaper/
● Video Tutorials
○ Full Web3 Tutorial (Smart Contracts, Solidity, Javascript)
https://web3.career/learn-web3/full-web3-tutorial-smart-contracts-solidity-javascri
pt
○ Solidity, Blockchain, and Smart Contract Course – Beginner to Expert Python
Tutorial
https://web3.career/learn-web3/solidity-blockchain-and-smart-contract-course
○ Learn Blockchain 3 Hours Course
https://web3.career/learn-web3/learn-blockchain-3-hours-course
○ More Free Web3 and Blockchain Tutorials
https://web3.career/learn-web3/videos
✦ Practical Examples of Web3 in Nigeria
In Nigeria, #web3 is making waves in areas like fintech, where blockchain is used to provide
financial services to people without access to traditional banks.
With the naira’s fluctuations, many are turning to crypto to store value and make fast, borderless
payments.
✦ Why You Should Pay Attention to Web3
Web3 is not just for tech geeks; it's for everyone.
Whether you're looking for new ways to make money, secure your digital identity, or be part of a
decentralized community, web3 offers endless opportunities.
If you're serious about the future, learning web3 is a must.
✦ Challenges of Web3 Adoption
While web3 has huge potential, it also comes with challenges.
Many people still don’t understand it, and there’s a learning curve.
Scams and misinformation are common, especially with crypto. But as more people become educated, these hurdles will reduce.
✦ Web3 Terminologies You Should Know
Web3 is filled with terminologies, and these are some you should get used to:
● Web3: Web3 is a decentralized internet focused on privacy and data security. It uses
blockchain technology to replace centralized control with individual ownership and
tokenized assets, allowing users to monetize their digital presence through NFTs and
cryptocurrencies.
● Blockchain: A blockchain is a decentralized database storing transaction information
and digital assets in "blocks." This distributed ledger technology (DLT) enables
verification and management without a central authority.
● Non-fungible Tokens (NFTs): NFTs are unique digital assets representing various
forms of virtual properties like images, music, or virtual real estate. They are secured
and transferred through blockchain technology.
● DAO (Decentralized Autonomous Organization): A DAO operates without central
authority, governed by community members who hold the DAO's native tokens.
Decision-making is based on community votes rather than a central authority.
● Decentralized Finance (DeFi): DeFi refers to peer-to-peer financial services on
blockchains that eliminate traditional banks and middlemen. Smart contracts handle
transactions automatically based on predefined conditions.
● Decentralized Applications (DApps): DApps are applications running on decentralized
blockchains through smart contracts. They offer services like staking, decentralized
exchanges (DEXs), and blockchain games.
● Metaverse: The metaverse is a virtual world created using VR and AR technologies. It
allows users to interact, play, and engage in various activities through their avatars,
blending digital and physical experiences.
● Virtual Reality (VR): VR creates immersive 3D environments for the metaverse,
replacing the user's real-life surroundings with simulated virtual spaces.
● Augmented Reality (AR): AR enhances a user’s physical environment with additional
information, projecting data onto real-world views without fully immersing users in a
virtual environment.
● Wallet: Wallets store private and public keys needed to access blockchain accounts and
digital assets. They don’t store assets directly but secure the keys to manage and
transfer them.
● Consensus Mechanism: This is the protocol used to reach agreement on transaction validation and blockchain operations.
Prominent mechanisms include Proof-of-Work (PoW) and Proof-of-Stake (PoS).
● Scalability: Scalability measures a protocol’s ability to handle increased demand, like a
rise in transaction volume, without compromising performance. For instance, Solana
faced scalability issues with frequent shutdowns.
● Testnet (Test Network): A testnet is a trial blockchain environment used to test new
features without risking real assets. Developers use testnet tokens to simulate
transactions and verify functionality before mainnet launch.
● Node: Nodes are essential for blockchain security. They verify transactions and blocks,
maintaining the network's integrity by approving or rejecting new data.
● Cryptography: Cryptography secures blockchain data from unauthorized access. It
ensures only users with the correct keys can access sensitive information, like wallet
balances.
● Block: Blocks are immutable units in a blockchain that store transaction history. Each
block links to the previous one, creating a chain of blocks or a blockchain.
● Oracle: Web3 oracles are services connecting smart contracts with external data. They
provide off-chain information necessary for smart contracts to execute functions based
on real-world data.
✦ Additional Web3 Terms
● Market Cap: Market cap is the total value of a digital asset, calculated by multiplying its
price by its circulating supply. For example, if a coin is worth $12 and has 7,000 tokens
in circulation, its market cap is $84,000.
● Stablecoin: Stablecoins are cryptocurrencies pegged to stable assets like the US dollar
or gold, designed to reduce volatility. Examples include USDT and USDC.
● Fiat Money: Fiat currency is government-issued money not based on cryptocurrencies
or blockchains, like the US dollar or Japanese Yen.
● Interoperability: Interoperability is the ability of different blockchains to communicate
and share data. It’s crucial for mass adoption and is being addressed by projects like
Polkadot.
● Dex: A decentralized exchange (DEX) allows cryptocurrency trading without a central
authority, enhancing security and privacy. Examples include Uniswap and Kyber
Network.
● Hash: A hash function converts input data into a fixed, encrypted output, securing and
verifying blockchain transactions and block information.
● Gas: Gas refers to the fee required for processing transactions on a blockchain, like
Ethereum, where gas costs are denominated in ether (ETH).
Smart Contract: Smart contracts are self-executing agreements written on the
blockchain. They automate transaction execution based on predefined terms, reducing
the need for intermediaries.
● Mixed Reality: Mixed reality combines elements of VR and AR, integrating digital
objects into the physical world in real time, with applications in gaming, education, and
more.
● Airdrop: An airdrop is the distribution of free tokens to multiple wallet addresses, often
used for marketing or rewarding community engagement.
● KYC: KYC (Know Your Customer) is the process of verifying a user’s identity, often
required by exchanges to comply with regulations and prevent fraud.
● Altcoin: Altcoins are all cryptocurrencies other than Bitcoin, including Ethereum,
Litecoin, and thousands of lesser-known coins.
● Fungible: Fungibility means each unit of a good or asset is interchangeable. For
cryptocurrencies, this means each coin or token is equivalent to another of the same
type.
● Non-Fungible: Non-fungible tokens (NFTs) are unique and cannot be exchanged on a
one-to-one basis, often used for digital art and collectibles.
● Minting: Minting is the process of creating new tokens or coins, typically through mining
or predetermined protocols in cryptocurrencies.
● PoW: Proof of Work (PoW) is a consensus mechanism where miners solve complex
problems to validate transactions and secure the network, as seen in Bitcoin.
● PoS: Proof of Stake (PoS) allows validators to confirm transactions based on the amount
of cryptocurrency they stake, requiring less energy compared to PoW.
● Seed Phrase: A seed phrase is a series of words used to recover a cryptocurrency
wallet. It should be kept secure, as it grants access to the wallet and its assets.
● Cold Storage: Cold storage refers to offline methods of securely storing cryptocurrency,
like hardware or paper wallets, protecting assets from online threats.
✦ Slang
● GM: Good morning. A daily greeting in the crypto community.
● WAGMI: We’re all gonna make it. An expression of optimism about a project’s future
success.
● FOMO: Fear of missing out. The anxiety driving urgent asset purchases to avoid missing
potential gains.
● Shill: To promote a cryptocurrency or project, sometimes misleadingly or excessively.
● Mooning: When a cryptocurrency’s price rises sharply or is expected to.
● FUD: Fear, uncertainty, and doubt. Negative or misleading information spread to harm a
project’s reputation.
● HODL: A misspelling of “hold,” meaning to keep an asset despite market volatility.
● Whale: An individual or entity holding a large amount of cryptocurrency, influencing its
price.
● Paper Hands: Traders who sell assets at a loss during downturns, contrasted with those
who hold through market fluctuations.
● BTFD: Buy the dip. Encouraging purchases during price drops, expecting future gains.
● NGMI: Not gonna make it. Expresses skepticism about a project’s future success.
● REKT: A misspelling of “wrecked,” describing significant losses in the market.
✦ Conclusion
Web3 is transforming the way we interact with the internet. From decentralized finance (DeFi) to
NFTs and beyond, this space is growing rapidly. If you want to be part of the next digital
revolution, start exploring web3 today. The future is decentralized, and it’s waiting for you!
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