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Intro

  1. Centralized
  2. Decentralised
  3. Distributed

History​

B-money Definition

Lecture 12 - History of Cryptocurrencies [Bonus lecture] - YouTube

CoinMarketCap 10-Year Anniversary | CoinMarketCap

2.0 stack​

  • AWS S3 for storage
  • Aws EC2 for compute
  • Stripe for payments
  • Third party services for other services

Web 3.0 stack (dApps)​

  • Etherium, truebit (scalable computation)
  • IPFS (inter planetary file system) / FileCoin (storage)
  • Oracles (External data)
  • Token Model (Monetization)
  • Bitcoin (payments)

Features of decentralised application​

  • Open source
  • Use of cryptocurrency
    • Allocate a scarce resource to monetize.
    • Example - Steemit
  • Decentralised consensus
    • Ability of a network to agree about on something
    • Proof of work algorithm
    • 51% of all the nodes must approve the work
    • Big files are stored in a distributed hash table (DHT) (IPFS)
    • Block chain helps the DHT reach consensus
    • Smart contracts which are crypoeconomically secured code
    • Etherium has a tiring complete block chain
  • No central point of failure (IPFS Stack)
    • Instead of IP addressing our content, we should content address it
    • Merkle DAG
    • Resiliency happening with bits and shards of data replicated across network (multiple nodes)

Difference between Blockchain, Ethereum and Bitcoin​

Blockchain, Ethereum, and Bitcoin are related technologies, but they are not the same thing. Here's a brief explanation of each:

Blockchain: A blockchain is a decentralized digital ledger that records transactions across many computers in a secure and transparent manner. Each block in a blockchain contains a set of transactions, and once a block is added to the chain, its information cannot be altered or deleted. This makes blockchains an ideal platform for secure and transparent record-keeping, as well as for applications that require decentralized trust and collaboration.

Bitcoin: Bitcoin is a cryptocurrency that was created in 2009. It is based on a blockchain and is designed to allow secure and anonymous peer-to-peer transactions without the need for a central authority. Bitcoin is used as a form of digital money and has become the most well-known application of blockchain technology.

Ethereum: Ethereum is a blockchain-based platform for decentralized applications and smart contracts. Unlike Bitcoin, which is primarily used as a currency, Ethereum is a platform for developers to build decentralized applications. It has its own cryptocurrency, Ether (ETH), which is used to pay for transactions and computational services on the network.

In summary, Bitcoin is a cryptocurrency built on a blockchain, while Ethereum is a blockchain-based platform for decentralized applications and smart contracts. The difference between them lies in their primary use cases: Bitcoin is primarily used as a digital currency, while Ethereum is a platform for building decentralized applications.

Web3​

https://www.notboring.co/p/braintrust-fighting-capitalism-with

Cryptocurrency Terms​

Degen - In the context of the crypto community, "degen" is short for "degenerate" and is often used to refer to a person who is involved in high-risk, speculative trading or investing in cryptocurrencies.

  • HODL - Hold (Hold On for Dear Life)
  • WAGMI - We are all gonna make it
  • DYOR - Do Your Own Research

https://hackernoon.com/crypto-baby-talk-first-50-terms-that-you-should-know-about-30a829320b4b

Crypto Glossary of Terms And Jargon | CoinMarketCap

Decentralization: Which Crypto's Aren't Centralized?! Let's Find Out! - YouTube

  • Developer layer
  • Coin or token layer
  • Infrastructure layer
  • Blockchain layer
  • External layer

The fundamental value proposition for blockchains. - TheValueProp