Web3 Tokens Decoded: A First Principles Analysis
After attending Token 2049 in Singapore, I spent a reasonable amount of time catching up with a few of the investors I met along the way. Two themes arose in our conversations. The first was what had happened with FTX (easy answer, fraud), and the second, which came from other investors with a traditional finance background, was rooted in determining the purpose behind Web3 tokens. From an outsider's perspective, tokens are a way for Sam to take from you to give to Caroline. But under th...
Web3 Tokens Decoded: A First Principles Analysis
After attending Token 2049 in Singapore, I spent a reasonable amount of time catching up with a few of the investors I met along the way. Two themes arose in our conversations. The first was what had happened with FTX (easy answer, fraud), and the second, which came from other investors with a traditional finance background, was rooted in determining the purpose behind Web3 tokens. From an outsider's perspective, tokens are a way for Sam to take from you to give to Caroline. But under th...
Smart Contracts: The How Behind Web3 (Part II)
This is Part II of a two-part article. In Part I, we analyzed what a smart contract is at a high level and how it will enable the future of P2P internet interactions absent centralized intermediaries. We also analyzed early use cases for smart contracts today ranging from DeFi to tokenizing real-world assets. Part II goes deeper into smart contracts. In this article, we evaluate features of smart contracts, namely immutability, and report a mechanism to work around editing and amending contra...
Smart Contracts: The How Behind Web3 (Part II)
This is Part II of a two-part article. In Part I, we analyzed what a smart contract is at a high level and how it will enable the future of P2P internet interactions absent centralized intermediaries. We also analyzed early use cases for smart contracts today ranging from DeFi to tokenizing real-world assets. Part II goes deeper into smart contracts. In this article, we evaluate features of smart contracts, namely immutability, and report a mechanism to work around editing and amending contra...
Smart Contracts: The How Behind Web3 (Part I)
Smart Contracts: The How Behind Web3 (Part I of II)Let’s chat about (not so) smart contracts. A key theme we’ve analyzed is that the original internet was optimized for communication between machines as opposed to people. Web3 changes that. Smart contracts are part of the “how” that enables this change: they change how we can transact on the internet without the friction of an intermediary. This is a two-part article. Part one analyzes what a smart contract is and why it matters for enabling ...
Smart Contracts: The How Behind Web3 (Part I)
Smart Contracts: The How Behind Web3 (Part I of II)Let’s chat about (not so) smart contracts. A key theme we’ve analyzed is that the original internet was optimized for communication between machines as opposed to people. Web3 changes that. Smart contracts are part of the “how” that enables this change: they change how we can transact on the internet without the friction of an intermediary. This is a two-part article. Part one analyzes what a smart contract is and why it matters for enabling ...
Web3: Decentralized Identity
Decentralized IdentityMany critics of Web3 claim that there are few, if any, use cases of Web3 that surpass the benefits of a comparable Web2 company. It’s not the fault of critics - few have come close to demonstrating a vision of what the future of networks will look like. Just as it was impossible to see the impact of the Internet in the early 2000s, the same can be said for the impact of blockchain today. The technology is too early. Yet, those who dismiss it publicly (i.e., Steve Ballmer...
Web3: Decentralized Identity
Decentralized IdentityMany critics of Web3 claim that there are few, if any, use cases of Web3 that surpass the benefits of a comparable Web2 company. It’s not the fault of critics - few have come close to demonstrating a vision of what the future of networks will look like. Just as it was impossible to see the impact of the Internet in the early 2000s, the same can be said for the impact of blockchain today. The technology is too early. Yet, those who dismiss it publicly (i.e., Steve Ballmer...
What's In Your (Web3) Wallet?
Foundational KnowledgeA blockchain wallet is software written to store your private key, public key, and blockchain address. It is the interface that allows you to interact with a blockchain network (and in some cases, more than one!). Web3 wallets also enable:Sending tokens from your walletViewing tokens that are “held” by the walletInspecting the metadata of tokens sent to youBut how does a Web3 wallet work? And why is it that when you go on Twitter, your feed is filled with repeated advice...
What's In Your (Web3) Wallet?
Foundational KnowledgeA blockchain wallet is software written to store your private key, public key, and blockchain address. It is the interface that allows you to interact with a blockchain network (and in some cases, more than one!). Web3 wallets also enable:Sending tokens from your walletViewing tokens that are “held” by the walletInspecting the metadata of tokens sent to youBut how does a Web3 wallet work? And why is it that when you go on Twitter, your feed is filled with repeated advice...
