Simplifying Web3 | Exploring Blockchain, DeFi, & the future of decentralization | Reviewing Web3 products, & sharing insights
Web3 Wallets: How to store your crypto and NFTs safely
Your Web3 wallet is your key to the decentralized internet. Just like the literal wallet, it is where you store your digital assets and also works as your digital identity in the world of Web3.What is a Web3 Wallet?A Web3 wallet is a digital tool that lets you store, send, and receive cryptocurrencies and NFTs. Unlike traditional banks, Web3 wallets give you full control of your assets, meaning you also have the responsibility of securing what you own. Without a Web3 wallet, you cannot access...
Web3 Wallets: How to store your crypto and NFTs safely
Your Web3 wallet is your key to the decentralized internet. Just like the literal wallet, it is where you store your digital assets and also works as your digital identity in the world of Web3.What is a Web3 Wallet?A Web3 wallet is a digital tool that lets you store, send, and receive cryptocurrencies and NFTs. Unlike traditional banks, Web3 wallets give you full control of your assets, meaning you also have the responsibility of securing what you own. Without a Web3 wallet, you cannot access...
Ethereum vs. Solana: Why Some Blockchains Are Cheaper Than Others
(High) Gas fees are one of the biggest barriers to mainstream blockchain adoption, however, when you understand them, you can make smarter decisions in Web3. But first, what are Gas Fees? Gas Fees are basically the transaction costs required to process and validate transactions on a blockchain. Think of them like delivery fees whereby you are paying the network to securely transfer your crypto.Why are Gas Fees necessary?Unlike traditional banks, the blockchain relies on a decentralized networ...
Ethereum vs. Solana: Why Some Blockchains Are Cheaper Than Others
(High) Gas fees are one of the biggest barriers to mainstream blockchain adoption, however, when you understand them, you can make smarter decisions in Web3. But first, what are Gas Fees? Gas Fees are basically the transaction costs required to process and validate transactions on a blockchain. Think of them like delivery fees whereby you are paying the network to securely transfer your crypto.Why are Gas Fees necessary?Unlike traditional banks, the blockchain relies on a decentralized networ...
DeFi Explained: How Is Blockchain Replacing Trad Banks?
DeFi, or Decentralized Finance runs entirely on Blockchain, which is powered by Smart Contracts. Banks have been around for centuries, controlling how we save, borrow, and invest. They decide: ❌ WHO gets a loan and who doesn’t ❌ HOW much interest you earn; which is barely anything ❌ WHEN you can access your own money due to working hours, delays, and fees. They basically make you jump through hoops for basic services on your own money. Unlike trad banks, DeFi is where finance is decentralized...
DeFi Explained: How Is Blockchain Replacing Trad Banks?
DeFi, or Decentralized Finance runs entirely on Blockchain, which is powered by Smart Contracts. Banks have been around for centuries, controlling how we save, borrow, and invest. They decide: ❌ WHO gets a loan and who doesn’t ❌ HOW much interest you earn; which is barely anything ❌ WHEN you can access your own money due to working hours, delays, and fees. They basically make you jump through hoops for basic services on your own money. Unlike trad banks, DeFi is where finance is decentralized...
Smart Contracts 101
Smart Contracts are self-executing programs or coded contracts that eliminate the need for intermediaries or third parties for faster and instant transactions.Let’s do a bit of historySo I learned from this book by Nathaniel Luz that the idea of smart contracts dates back to 1994, thanks to computer scientist / cryptographer / law scholar Nick Szabo. He proposed the concept of smart contracts, describing them as self-executing agreements written in code rather than enforced by humans.Nick Sza...
Smart Contracts 101
Smart Contracts are self-executing programs or coded contracts that eliminate the need for intermediaries or third parties for faster and instant transactions.Let’s do a bit of historySo I learned from this book by Nathaniel Luz that the idea of smart contracts dates back to 1994, thanks to computer scientist / cryptographer / law scholar Nick Szabo. He proposed the concept of smart contracts, describing them as self-executing agreements written in code rather than enforced by humans.Nick Sza...
Blockchain: The Foundation of Web3
Think of it as a digital ledger distributed across many computers worldwide instead of being stored in one place. This Distributed Ledger Technology means that no single entity is controlling the data, making it decentralized, secure and transparent. Okay, let me break it down with the Microsoft Word vs. Google Docs analogy:A traditional bank’s ledger is like Microsoft Word, and only one person can edit at a time and it is not necessarily transparent or accessible to everyone in real-time.The...
Blockchain: The Foundation of Web3
Think of it as a digital ledger distributed across many computers worldwide instead of being stored in one place. This Distributed Ledger Technology means that no single entity is controlling the data, making it decentralized, secure and transparent. Okay, let me break it down with the Microsoft Word vs. Google Docs analogy:A traditional bank’s ledger is like Microsoft Word, and only one person can edit at a time and it is not necessarily transparent or accessible to everyone in real-time.The...
