A Quick Crypto/Web3 Primer

Want a quick start on Crypto and Web3?

Then keep reading!

Eras of the Web

• Web1 - Google, Amazon
  • Users consume content
• Web2 - Facebook, Uber
  • Users create content
• Web3 - Ethereum, OpenAI
  • User own content

Where Web3 and Crypto align is they both seek to:

• Use technology to help the disadvantaged
• Fix what’s wrong with the internet today

Blockchain Architecture

Current:

• Client <-> Server
• Owned by Some Company
• Monopolistic, Single points of failure

Blockchain

• P2P Networks
• Validators that keep the network honest
• Decentralized governance & permissions
• Global state
• Multiple points of failure

Blockchain trades technical scalability for social scalability

4 layers to understand blockchain:

1. Hardware & Networking (A Computer)
2. Consensus & Settlement (Bitcoin and Eth)
3. Smart Contracts (MAKER & UniSwap)
4. Wallets & UI (MetaMask & Compound)

Last 10 Years of Crypto

3 waves of activity

• 2010-2012: Bitcoin, Architecture(Miners + Exchanges)
• 2012-2016: New L1 Blockchains, Privacy + Alt Coins
• 2016-2020: DeFi, Layer2, Smart Wallet apps, NFT Marketplaces

Skepticism was rising after the 2018 crypto bubble crash.
But insiders realize each cycle brings the capital needed to invest in critical infrastructure

• Decentralized Exchanges
• Lending Protocols
• L1 Blockchains
• Stablecoins
• Smart Wallets
• Developer Tools
• Storage Protocols

Rise of NFTs

Currently, when you upload a file

• The file is copied to an organizations backend
• Ownership is transferred to that org

Blockchains enable

• Individual Ownership
• Public access
• Provenance
• Composability

How can NFT's help Creators?

Content creators can use NFT's to

• collect royalties from the trade of their asset
• grant benefits to holders
• create token-gated communities

Future of NFTs

Is it the McRib NFT? NO

Creator DAO's

• Many ways of fundraising for projects
• Community-led decision making
• Transparent capital flows
• Employees and customers share in the upside

Starting a global corporation will be as simple as creating a group chat

Curator Economy

Most people on the internet are curators, not creators

Traditional Curators (Magazines, Channels etc):

• Opaque process
• tiny % of the population

Future Curators:

• More like angel investors
• Invest in projects you care about

Currently, we have

• Cryptocurrency
• Cryptofinance

Soon we will have

• Cryptosocial
• Cryptocommerce
• Cryptowork
• Cryptofirms
• Cryptostates

In Closing

Thanks for reading along.
I plan on writing more educational content on crypto. Thank you

This thread was my personal notes summarizing a presentation by Patrick Rivera
A summary of the presentation by Patrick Rivera
https://docs.google.com/presentation/d/1sUpk0gbvRQelH0MUIOqjNeGe8nwRH4mhrhDHmI6qh4M/edit#slide=id.g442eb61d9d_0_710