# Web3 fundamentals

By [Giuliano Giacaglia](https://paragraph.com/@giacaglia) · 2021-10-06

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Bitcoin and Ethereum
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*   Why Bitcoin Matters
    
    *   [Why Bitcoin Matters (2014)](https://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/) by Marc Andreessen
        
*   How Bitcoin Works
    
    *   [The 5 minute version](https://www.youtube.com/watch?v=l9jOJk30eQs)
        
    *   [The longer version](https://www.youtube.com/watch?v=bBC-nXj3Ng4)
        
*   Bitcoin, the MVP of Blockchain
    
    *   [Byzantine Fault Tolerance (2017)](https://medium.com/loom-network/understanding-blockchain-fundamentals-part-1-byzantine-fault-tolerance-245f46fe8419) by Georgios Konstantopoulos
        
    *   [Proof of Work (and Proof of Stake) (2017)](https://medium.com/loom-network/understanding-blockchain-fundamentals-part-2-proof-of-work-proof-of-stake-b6ae907c7edb) by Georgios Konstantopoulos
        
*   Pricing
    
    *   [Michael Saylor and Ross Stevens on Bitcoin](https://www.youtube.com/watch?v=NoobUKNttmw)
        
    *   [Modeling Bitcoin Value with Scarcity (2019)](https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25) by PlanB
        
*   Decentralization
    
    *   [Why Decentralization Matters (2018)](https://cdixon.org/2018/02/18/why-decentralization-matters) by Chris Dixon
        

### Scaling the blockchain

*   [Ethereum Layer 2 Scaling Explained](https://www.youtube.com/watch?v=BgCgauWVTs0)
    
*   [The Lightning Network](https://www.youtube.com/watch?v=9UIOeoBEjmw)
    
*   [Solana Explained](https://www.youtube.com/watch?v=1jzROE6EhxM)
    

### Smart Contracts

*   [Smart Contracts](https://www.youtube.com/watch?v=pWGLtjG-F5c)
    

DeFi
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*   [A Beginner’s Guide to DeFi (2020)](https://nakamoto.com/beginners-guide-to-defi/) by Linda Xie
    
*   [DeFi - The Future of Finance](https://www.youtube.com/watch?v=H-O3r2YMWJ4)
    

**AMMs**

*   [How do Liquidity Pools work?](https://www.youtube.com/watch?v=cizLhxSKrAc) (Uniswap, Curve, Balancer)
    
*   [What explains the rise of AMMs? (2020)](https://medium.com/dragonfly-research/what-explains-the-rise-of-amms-7d008af1c399#e49e) by Haseeb Qureshi
    
*   [Uniswap V3 - New Era Of AMMs?](https://www.youtube.com/watch?v=Ehm-OYBmlPM)
    

**dApps**

*   [Introduction to dApps](https://ethereum.org/en/developers/docs/dapps/)
    

**Lending and Borrowing**

*   [Lending and Borrowing in DeFi Explained](https://www.youtube.com/watch?v=aTp9er6S73M)
    

**Yield farming**

*   [Yield Farming Explained](https://www.youtube.com/watch?v=ClnnLI1SClA)
    

A Brave New World
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**NFTs**

*   [A beginner’s guide to NFTs (2020)](https://linda.mirror.xyz/df649d61efb92c910464a4e74ae213c4cab150b9cbcc4b7fb6090fc77881a95d) by Linda Xie
    

**Understanding the NFT value proposition**

*   [NFTs make the internet ownable (2021)](https://variant.mirror.xyz/T8kdtZRIgy_srXB5B06L8vBqFHYlEBcv6ae2zR6Y_eo) by Jesse Walden
    
*   [NFTs and a Thousand True Fans (2021)](https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/) by Chris Dixon
    

**DAOs**

*   [A beginner’s guide to DAOs (2021)](https://linda.mirror.xyz/Vh8K4leCGEO06_qSGx-vS5lvgUqhqkCz9ut81WwCP2o) by Linda Xie
    
*   [The DAO Hack Explained: Unfortunate Take-off of Smart Contracts (2018)](https://medium.com/@ogucluturk/the-dao-hack-explained-unfortunate-take-off-of-smart-contracts-2bd8c8db3562) by Osman Gazi Güçlütürk
    
*   [The Dao of DAOs (2021)](https://www.notboring.co/p/the-dao-of-daos?token=eyJ1c2VyX2lkIjoyMDQyNjgwLCJwb3N0X2lkIjozNDEyMzY3OCwiXyI6Ims0TU9iIiwiaWF0IjoxNjE2NDMzMjA5LCJleHAiOjE2MTY0MzY4MDksImlzcyI6InB1Yi0xMDAyNSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.tuoUW8Uo721Wswj9HIXvRBvC9xo4M6FC4gXBig2Ku3U) by Packy McCormick
    
*   [Come for the community, stay for the economy (2021)](https://p.mirror.xyz/1EpvJwUpx_KlRcHOKLNqADEkwHL_Z1ZYKobF2uLwgBg) by Patrick Rivera

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*Originally published on [Giuliano Giacaglia](https://paragraph.com/@giacaglia/web3-fundamentals)*