# Web 3, Ethereum and the Basics!

By [danny.aranda](https://paragraph.com/@danny-aranda) · 2022-07-25

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Welcome to week 1! This week begins with some basics on the amorphous term, ‘Web 3.0’, the case for its significance as a departure from the existing internet. There is a specific focus on DeFi as an applied instance of the new internet. Then, roll ups in their various flavours are introduced, alongside some initial considerations of the zk-rollups and their privacy preserving dimensions.

Required reading
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*   [A User Controlled Internet](https://blog.coinbase.com/understanding-web-3-a-user-controlled-internet-a39c21cf83f3)
    
*   [What is DeFi](https://ethereum.org/en/defi/)
    
*   [Ethereum Glossary](https://ethereum.org/en/glossary/)
    
*   [L222 Consensus Blog](https://consensys.net/blog/blockchain-explained/what-l222-means-for-the-ethereum-ecosystem/)
    
*   [Privacy Layer](https://future.com/a-privacy-layer-for-the-web-can-change-everything/)
    
*   [zkStarks](https://docs.ethhub.io/ethereum-roadmap/layer-2-scaling/zk-starks/)
    

Additional reading
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*   [Why Decentralisation Matters](https://cdixon.org/2018/02/18/why-decentralization-matters)
    
*   [Smart Contracts Explained](https://finematics.com/smart-contracts-explained/)
    
*   [Chain Analysis Web3 Report](https://go.chainalysis.com/2022-web3-report-thank-you.html?aliId=eyJpIjoiYUtZd3c4V0pBd0ZWWDFvVSIsInQiOiI4WGVtSFwvcW9URmtjNXlpblV1U3h0QT09In0%253D)
    

We recommend that you read all required readings in order as the concepts assume some previous understanding of preceding concepts.

Happy reading. See you [here](https://form.jotform.com/221718952357059) on Thursday. (Link will be dynamic and open!)

**About zkLend**

zkLend is an L2 money-market protocol built on StarkNet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security. The protocol offers a dual solution: a permissioned and compliance-focused solution for institutional clients, and a permissionless service for DeFi users — all without sacrificing decentralisation.

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*Originally published on [danny.aranda](https://paragraph.com/@danny-aranda/web-3-ethereum-and-the-basics)*