Week 3 at Ethereum India Fellowship'23 was a week full of interesting projects and new learning opportunities. The participants were presented with various challenges that allowed them to explore different areas of blockchain technology and push their limits. Two of the most exciting challenges of the week were building a decentralized exchange (DEX) and creating a state channel application.

Challenge One: DEX:

https://speedrunethereum.com/challenge/minimum-viable-exchange

The first challenge was building a Minimum Viable Exchange (MVE) or a DEX. The challenge required the participants to write their own smart contract and build a DEX from scratch. This project was one of the most interesting challenges that the participants had come across so far, as it captured the essence of DeFi - the most booming field in blockchain technology. The participants had to have a deep understanding of how decentralized exchanges work and how they can be implemented using smart contracts.

To complete the challenge, the participants had to write a smart contract that could handle the trading of ERC20 tokens. They had to ensure that the smart contract was secure, efficient and could handle different types of orders such as market orders, limit orders and stop orders. Once the smart contract was written, the participants had to build a front-end user interface that could interact with the smart contract and allow users to trade on the DEX.

The challenge gave the participants a deeper understanding of how Uniswap works, one of the most popular DEXs in the DeFi space. They learned about liquidity pools, automated market makers, and how trading fees are distributed to liquidity providers. The participants also learned about the challenges of building a DEX, such as handling liquidity, preventing front-running, and ensuring security.

My code:

https://github.com/etikshajain/scaffold-eth-challenges/tree/challenge-4-dex

Deployed contract:

https://goerli.etherscan.io/address/0xaBBcf52d14bC6a0eB4E06ea5EF2852AC5aA023DF#code

Challenge Two:

https://speedrunethereum.com/challenge/state-channels

The second challenge was building a state channel application. State channels are a layer two scaling solution for blockchain networks that allow for off-chain transactions without the need for every transaction to be validated by the blockchain network. The participants were tasked with creating an application that uses state channels to facilitate transactions between a guru and their clients.

In this challenge, the guru provides a service to the client, and in return, the client provides signed messages that can be cashed by the guru on-chain. The participants had to write a smart contract that could handle the opening and closing of state channels, as well as the validation of signed messages. They also had to build a front-end user interface that could interact with the smart contract and allow users to initiate state channels and facilitate transactions.

Building this state channel application gave the participants a lot of insights into ECDSA (Elliptic Curve Digital Signature Algorithm) and how it can be used for secure off-chain transactions. They also learned about the benefits of state channels, such as faster and cheaper transactions, improved scalability, and increased privacy.

My code:

https://github.com/etikshajain/scaffold-eth-challenges/tree/challenge-9-state-channels

Deployed contract:

https://goerli.etherscan.io/address/0x4347CAcaDb046A69D87be790dc352178ed5282D6

Overall, the challenges of Week 3 at Ethereum India Fellowship'23 were an excellent opportunity for the participants to expand their knowledge and skills in blockchain technology. They were able to work on interesting projects and tackle complex problems that allowed them to explore different areas of blockchain technology, including DeFi and state channels. The challenges gave the participants a deeper understanding of smart contracts, ECDSA, DEXs, and state channels, and helped them to develop their problem-solving and critical thinking skills.

Week 3 at Ethereum India Fellowship'23 was a week full of interesting projects and new learning opportunities. The participants were presented with various challenges that allowed them to explore different areas of blockchain technology and push their limits. Two of the most exciting challenges of the week were building a decentralized exchange (DEX) and creating a state channel application.

Challenge One: DEX:

https://speedrunethereum.com/challenge/minimum-viable-exchange

The first challenge was building a Minimum Viable Exchange (MVE) or a DEX. The challenge required the participants to write their own smart contract and build a DEX from scratch. This project was one of the most interesting challenges that the participants had come across so far, as it captured the essence of DeFi - the most booming field in blockchain technology. The participants had to have a deep understanding of how decentralized exchanges work and how they can be implemented using smart contracts.

To complete the challenge, the participants had to write a smart contract that could handle the trading of ERC20 tokens. They had to ensure that the smart contract was secure, efficient and could handle different types of orders such as market orders, limit orders and stop orders. Once the smart contract was written, the participants had to build a front-end user interface that could interact with the smart contract and allow users to trade on the DEX.

The challenge gave the participants a deeper understanding of how Uniswap works, one of the most popular DEXs in the DeFi space. They learned about liquidity pools, automated market makers, and how trading fees are distributed to liquidity providers. The participants also learned about the challenges of building a DEX, such as handling liquidity, preventing front-running, and ensuring security.

My code:

https://github.com/etikshajain/scaffold-eth-challenges/tree/challenge-4-dex

Deployed contract:

https://goerli.etherscan.io/address/0xaBBcf52d14bC6a0eB4E06ea5EF2852AC5aA023DF#code

Challenge Two:

https://speedrunethereum.com/challenge/state-channels

The second challenge was building a state channel application. State channels are a layer two scaling solution for blockchain networks that allow for off-chain transactions without the need for every transaction to be validated by the blockchain network. The participants were tasked with creating an application that uses state channels to facilitate transactions between a guru and their clients.

In this challenge, the guru provides a service to the client, and in return, the client provides signed messages that can be cashed by the guru on-chain. The participants had to write a smart contract that could handle the opening and closing of state channels, as well as the validation of signed messages. They also had to build a front-end user interface that could interact with the smart contract and allow users to initiate state channels and facilitate transactions.

Building this state channel application gave the participants a lot of insights into ECDSA (Elliptic Curve Digital Signature Algorithm) and how it can be used for secure off-chain transactions. They also learned about the benefits of state channels, such as faster and cheaper transactions, improved scalability, and increased privacy.

My code:

https://github.com/etikshajain/scaffold-eth-challenges/tree/challenge-9-state-channels

Deployed contract:

https://goerli.etherscan.io/address/0x4347CAcaDb046A69D87be790dc352178ed5282D6

Overall, the challenges of Week 3 at Ethereum India Fellowship'23 were an excellent opportunity for the participants to expand their knowledge and skills in blockchain technology. They were able to work on interesting projects and tackle complex problems that allowed them to explore different areas of blockchain technology, including DeFi and state channels. The challenges gave the participants a deeper understanding of smart contracts, ECDSA, DEXs, and state channels, and helped them to develop their problem-solving and critical thinking skills.