This is a summary of our Wallet Basics lesson, along with a walkthrough for the quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysYou’ll need a crypto wallet to access the world of blockchains!A wallet is like a blockchain account.Wallets are used to store cryptocurrency, log into blockchain apps, and more.These wallets work on both computers and phones.Creating a wallet is easy and takes around 5 minutes. We’ll show you how, in our video below!What...

This is a summary of our Wallet Basics lesson, along with a walkthrough for the quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysYou’ll need a crypto wallet to access the world of blockchains!A wallet is like a blockchain account.Wallets are used to store cryptocurrency, log into blockchain apps, and more.These wallets work on both computers and phones.Creating a wallet is easy and takes around 5 minutes. We’ll show you how, in our video below!What...

Key TakeawaysUsing the Ethereum Name Service (ENS), you can create a single username that represents you across multiple blockchains.ENS names simplify sending and receiving cryptocurrency by replacing your lengthy wallet address with a memorable label like web3explorer.ethYour ENS names become associated with your online presence: your cryptocurrency portfolio, your blockchain interactions, social media pages, avatars, websites, and emails, forming a single onchain identity.Registering an EN...

Key TakeawaysUsing the Ethereum Name Service (ENS), you can create a single username that represents you across multiple blockchains.ENS names simplify sending and receiving cryptocurrency by replacing your lengthy wallet address with a memorable label like web3explorer.ethYour ENS names become associated with your online presence: your cryptocurrency portfolio, your blockchain interactions, social media pages, avatars, websites, and emails, forming a single onchain identity.Registering an EN...

Key TakeawaysToken allowances refer to permissions granted to smart contracts to spend tokens from a wallet without further approval.They can be exploited by malicious actors if the user is not aware permissions are in place.Tools like Revoke.cash allow users to easily inspect and revoke token allowances.IntroductionDeFi grants users control over their assets, including their private keys, offering unprecedented sovereignty and authority over their funds. However, with great power comes great...

Key TakeawaysToken allowances refer to permissions granted to smart contracts to spend tokens from a wallet without further approval.They can be exploited by malicious actors if the user is not aware permissions are in place.Tools like Revoke.cash allow users to easily inspect and revoke token allowances.IntroductionDeFi grants users control over their assets, including their private keys, offering unprecedented sovereignty and authority over their funds. However, with great power comes great...

Key TakeawaysEthereum token standards are predefined rules and functions used for deploying tokens on Ethereum.The most popular Ethereum token standards are ERC-20, ERC-721, and ERC-1155.Each standard enables different levels of fungibility, allowing creation of both common and unique onchain assets.Token standards enable token interoperability across the Ethereum ecosystem, making it very easy for dApps to integrate new tokens, and for you to have access to them!What are Ethereum Token Stand...

Key TakeawaysEthereum token standards are predefined rules and functions used for deploying tokens on Ethereum.The most popular Ethereum token standards are ERC-20, ERC-721, and ERC-1155.Each standard enables different levels of fungibility, allowing creation of both common and unique onchain assets.Token standards enable token interoperability across the Ethereum ecosystem, making it very easy for dApps to integrate new tokens, and for you to have access to them!What are Ethereum Token Stand...

Key TakeawaysStablecoins are the blockchain equivalent of fiat currency, like the dollar or euro.Stablecoins are ERC-20 tokens: they allow DeFi users to quickly move between fiat value, and crypto value, while staying on the blockchain.There are several categories of stablecoin, each with their own trade-offs and risk profile.Stablecoins can generate more annual interest than holding fiat in a traditional bank.Why Hold Stablecoins?Stablecoins have become a cornerstone of the DeFi ecosystem, r...

Key TakeawaysStablecoins are the blockchain equivalent of fiat currency, like the dollar or euro.Stablecoins are ERC-20 tokens: they allow DeFi users to quickly move between fiat value, and crypto value, while staying on the blockchain.There are several categories of stablecoin, each with their own trade-offs and risk profile.Stablecoins can generate more annual interest than holding fiat in a traditional bank.Why Hold Stablecoins?Stablecoins have become a cornerstone of the DeFi ecosystem, r...

Key TakeawaysThere are a number of ways to fund your wallet on an Ethereum scaling solution like Optimism, Arbitrum, or Polygon.Centralized exchanges often provide a direct Layer 2 onramp.Third-party payment apps enable users to fund a wallet on Layer 2 from a bank account or a debit or credit card.Protocol bridges let users send funds from Ethereum Mainnet to Layer 2.If you’re new to crypto, all the talk about the importance of Layer 2 (or L2) must seem a bit odd, confusing really. In contra...

Key TakeawaysThere are a number of ways to fund your wallet on an Ethereum scaling solution like Optimism, Arbitrum, or Polygon.Centralized exchanges often provide a direct Layer 2 onramp.Third-party payment apps enable users to fund a wallet on Layer 2 from a bank account or a debit or credit card.Protocol bridges let users send funds from Ethereum Mainnet to Layer 2.If you’re new to crypto, all the talk about the importance of Layer 2 (or L2) must seem a bit odd, confusing really. In contra...

Key TakeawaysDecentralized Exchanges are a type of dApp that facilitate self-custody token swaps.There is some practical knowledge required for confidently interacting with a DEX.We can use block explorers to inspect our on-chain transactions.The Decentralized Exchange (DEX) is the most commonly used application in the world of Decentralized Finance (DeFi) — and for good reason! DEXs enable automated swapping of one cryptocurrency token for another, without need for a mediator. Unlike Central...

Key TakeawaysDecentralized Exchanges are a type of dApp that facilitate self-custody token swaps.There is some practical knowledge required for confidently interacting with a DEX.We can use block explorers to inspect our on-chain transactions.The Decentralized Exchange (DEX) is the most commonly used application in the world of Decentralized Finance (DeFi) — and for good reason! DEXs enable automated swapping of one cryptocurrency token for another, without need for a mediator. Unlike Central...

This is a summary and walkthrough for our ’Staking on Ethereum’ lesson and quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysStaking is essential to decentralization and transaction processing on Ethereum.It’s simple: lock Ether on the network, earn rewards.Running a validator node is the fundamental form of staking on Ethereum, requiring 32 Ether.Using the rETH token, Explorers can get involved in staking with any amount of Ether.What is Staking?Pu...

This is a summary and walkthrough for our ’Staking on Ethereum’ lesson and quest. Check out the full lesson to level up your knowledge and claim your badge!Key TakeawaysStaking is essential to decentralization and transaction processing on Ethereum.It’s simple: lock Ether on the network, earn rewards.Running a validator node is the fundamental form of staking on Ethereum, requiring 32 Ether.Using the rETH token, Explorers can get involved in staking with any amount of Ether.What is Staking?Pu...

Key TakeawaysDelegation is a voting mechanic that allows a representative — called a ‘Delegate’ — to make votes on another person’s behalf.Optimism handles voting and delegation via their ‘Optimism Agora’ dApp.You will maintain self-custody over delegated OP tokens, able to transfer or sell at any time.IntroductionDelegation is an onchain voting mechanic that allows a community member to temporarily grant their governance voting power to a community representative. This process allows a user ...

Key TakeawaysDelegation is a voting mechanic that allows a representative — called a ‘Delegate’ — to make votes on another person’s behalf.Optimism handles voting and delegation via their ‘Optimism Agora’ dApp.You will maintain self-custody over delegated OP tokens, able to transfer or sell at any time.IntroductionDelegation is an onchain voting mechanic that allows a community member to temporarily grant their governance voting power to a community representative. This process allows a user ...

This article written by Indra Kusuma is the Bankless Academy Editor’s Pick for our first Writing Cohort. Congratulations Explorer Indra! 🚀🫡Decentralized Autonomous Organizations, or DAOs, have become increasingly popular in recent years with the emergence of web3 technology, which centers around blockchain and cryptocurrency. But what exactly are DAOs, and how can they be used for communal learning in education? DAOs are a new type of organization in which decisions are made by a collective...

This article written by Indra Kusuma is the Bankless Academy Editor’s Pick for our first Writing Cohort. Congratulations Explorer Indra! 🚀🫡Decentralized Autonomous Organizations, or DAOs, have become increasingly popular in recent years with the emergence of web3 technology, which centers around blockchain and cryptocurrency. But what exactly are DAOs, and how can they be used for communal learning in education? DAOs are a new type of organization in which decisions are made by a collective...