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2. Intermediate Course

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  1. 1. Ethereum 2.0 - What is it? 
  2. 2. What is cryptocurrency burning?
  3. 3. How to create your own cryptocurrency? 
  4. 4. Blockchain Oracle - what are oracles? 
  5. 5. How to make money with NFT?
  6. 6. What is an ERC20 token and how is it created?
  7. 7. The Metaverse – a new virtual world
  8. 8. Metaverse – TOP 15 virtual reality projects
  9. 9. Technical analysis – is it worth using?
  10. 10. What are DeFi liquidity pools?
  11. 11. Second layer (layer 2) - what is it? 
  12. 12. What are wrapped tokens 
  13. 13. What is the Lightning Network, and how does it work?
  14. 14. What are security tokens?
  15. 15. What is Play-to-Earn (P2E) and how does it work?
  16. 16. What are Social Tokens? 
  17. 17. Examples of the use of WEB3 on the blockchain
  18. 18. What is Web5? 
  19. 19. Ethereum London Hard Fork - what is it ? 
  20. 20. Segregated Witness - what is Segwit Bitcoin all about?
  21. 21. Polkadot - Decentralized blockchain and DOT cryptocurrency
  22. 22. Polkadot Parachain - Next-generation blockchain
  23. 23. Trading order types: stop loss, trailing stop loss, LIMIT
  24. 24. Set up of Stop Loss and Take Profit orders
  25. 25. What are Decentralized Cryptocurrency DEX Exchanges?
  26. 26. What is Curve Finance?
  27. 27. What is GameFi and how does it work?
  28. 28. Non-fungible tokens and NFT exchanges
  29. 29. Cryptocurrency steps - What is move to earn M2E?
  30. 30. What is Proof of Reserves (PoR)? How does it work?
  31. 31. Interoperability in the world of cryptocurrencies and blockchain
  32. 32. Blockchain and its layers - What is layer three in Blockchain (L3)?
  33. 33. What is Layer 0 in Blockchain technology?
  34. 34. What is layer 1 in Blockchain?
  35. 35. What is MakerDAO and DAI Stablecoin?
  36. 36. What is Blockchain sharding?
  37. 37. What is the NFT licence fee?
  38. 38. What is the SubDAO protocol, and how does it work?
  39. 39. The main differences between static NFT and dynamic NFT
  40. 40. What is minting an NFT?
  41. 41. Mainnet versus Testnet on the Blockchain. The complete guide!
  42. 42. What are NFT Ordinals? A guide to Bitcoin NFT.
  43. 43. Market Cap versus Fully Diluted Market Cap - the most important differences you should know!
  44. 44. MINA Protocol: the lightest blockchain in the world!
  45. 45. NFT Gas Fee - what is it? How can you reduce your gas fee?
  46. 46. Liquidity Provider Tokens (LPs). What are they, and why are they so important?
  47. 47. What is KnowOrigin NFT, and how does it work?
  48. 48. What is decentralized social media?
  49. 49. What is the Ethereum Name Service (ENS) and how does it work?
  50. 50. Arbitrum: Ethereum scaling solution - everything you need to know
  51. 51. Ethereum ERC-4337 - what is it and how does this standard work?
  52. 52. Sustainable Blockchain - Proof of Useful Work & Flux
  53. 53. Ethereum Proof-of-Stake (PoS) - what should you know?
  54. 54. Atomic Swap: What is an atomic swap, and how does it work with cryptocurrencies?
  55. 55. What Is Cryptocurrency Vesting? What Are Its Advantages?
  56. 56. What Is the Metaplex Candy Machine Protocol? How Does It Work?
  57. 57. What Is the BNB Greenfield Ecosystem?
  58. 58. Real Yield in DeFi - what is this trend? What does it consist of?
  59. 59. What Is Slashing in Cryptocurrencies?
  60. 60. How to Create Your Own Decentralized Autonomous Organization (DAO)?
  61. 61. The ERC-721X VS ERC-721 Standard – Key Differences!
  62. 62. Royalties – What Are They? How Does This Type of Licensing Fee Work?
  63. 63. Polygon 2.0 - the value layer for the Internet
  64. 64. ERC-6551 - the new NFT standard. What does it bring to the non-exchangeable token sector?
  65. 65. What is TradFi? The importance for cryptocurrencies!
  66. 66. What is the Real World Asset (RWA) trend in cryptocurrencies? Explanation and examples!
  67. 67. Pyth Network: a powerful oracle harnessing the power of Solana!
  68. 68. Vampire Attacks in Decentralized Finance (DeFi): Explanation and Examples
  69. 69. What are stables in the world of cryptocurrencies?
  70. 70. What Is Binance Oracle?
  71. 71. What is NFT Lending all about? An innovative solution in the world of cryptocurrencies!
  72. 72. Shibarium: A new era in the Shiba Inu ecosystem?
  73. 73. What is an ETF? How will an exchange-traded fund on bitcoin work?
  74. 74. Symmetric and asymmetric encryption - key cryptography techniques!
  75. 75. Cosmos SDK: Building the Blockchain Ecosystem
  76. 76. DAO Investment: A revolution in the world of finance and investment
  77. 77. What is cross-chain interoperability in Blockchain technology?
  78. 78. Blockchain trilemma - explanation of the problem. What is the impact on cryptocurrency payments?
  79. 79. Hedging in cryptocurrencies - great portfolio protection against risk!
Lesson 17 of 79
In Progress

17. Examples of the use of WEB3 on the blockchain

From our previous lessons, you know what the next-generation Internet-Web3-is characterized by. The idea, combined with blockchain, gives us a list of projects worth looking at, or at least associating with. 

Web3 – a definition 

We will not explain once again what Web3 technology is. We will just remind you that it is the next-generation Internet, created by independent developers, non-profit organisations and businesses. Its goal is full decentralisation. It is the user who has full control over the data shared. Web3 effectively moves away from the old versions of the Internet. It brings together a wide range of technologies like NFT, DeFi, blockchain and cryptocurrencies

Blockchains are a key element for decentralised Web3 projects. It is thanks to blockchain that they are decentralised and devoid of oversight by individuals three. They do not steal value. Instead, they focus on rewarding participation, development, and commitment to a project. 

As we will discuss in the section (of a law) below, the range of Web3 projects on the blockchain is wide. From applications to even interoperability protocols. So, which ones are worth paying attention to? We will discuss the most – in our opinion – valuable ones for you below. 

Web3 projects on the blockchain – analysis 

Axie Infinity – the familiar cute creatures that we buy, breed and earn from. Axie Infinity is a Web3 project that falls into the Play-to-Earn category. While playing, you acquire cryptocurrencies, then you can successively cash them in. The project attracted a slew of investors in 2021. The game allows users to create their own economy, earn money while trading NFTs and entertain themselves. The ever-increasing adoption of cryptocurrencies and the relatively rapid growth of Play-to-Earn games will only result in more Web3 Play-to-Earn games. 

Polkadot – an example of a Web3 project built on the blockchain that increases interoperability. The aim of Polkadot is to connect different networks and allow them to communicate uncomplicatedly between them. Such projects enable users to benefit from cheaper, faster and more accessible products and services. 

Polygon, a Layer 2 Web3 solution. Polygon is referred to as the ‘Ethereum Internet of Blockchain‘. It is intended to help scale the Ethereum network. How. It provides developers with the tools to build Layer 2 scaling solutions. Independent developers can then build roll-ups and link them to other projects on Ethereum. Polygon is another Web 3 project that leaves added value for project developers as well as users. 

The Sandbox. Another Web3 project in the play-to-earn category. However, it is built on the usability of NFT. By combining NFT with the Sandbox Marketplace, it can monetise real estate and our other virtual activities. 

Harmony, which is a sharding solution for Web3. Project, is such a combination of the interoperability of Polkadot with the scalability of Ethereum. It solves one of the blockchain’s problems – it helps strike a balance between scalability, decentralisation and security. This is all made possible by the implementation of a sharded Proof-of-Stake Blockchain. 

Arbitrum. In the crypto world, we will hear that this is a Web3 project that leads the way in the optimistic rollup category. It gives Web3 developers the tools to build applications and solutions that are fast, cheap, and compatible with other Ethereum-based tools. 

Ocean Protocol. Another Web3 project. Built on the Ethereum network, it facilitates the exchange of data between companies and individuals. Purchasers purchase so-called datatokens and use them to access data. Providers, on the other hand, share the collected information and in return receive a native OCEAN protocol token. 

Theta. Its purpose is to serve industries related to video streaming. It is based on the Proof-of-Stake consensus and encourages content creators to make their content available on video platforms. 

Basic Attention Token (BAT). As the native token of the Brave Ads ecosystem, BAT tokenises user attention. Based on Web3 solutions, BAT connects advertisers and publishers. The project’s users monetise their attention and earn tokens, for…watching ads. Publishers are happy because they receive attention from their target audience. A win-win solution. 

Brave Browser. Web3 browser, using the InterPlanetary File System (IFPS) and Peer-to-Peer networking. The browser is available for Windows, Mac and Linux. It allows users to access URLs without an extension. This makes users less concerned about censorship, connectivity, and downtime issues. 

Summary 

Combining the blockchain ecosystem with Web3 gives us direct control, mainly over our finances. As you will have noticed in the examples above, we do not use centralised payment systems in these examples, and we still make money. Moreover, Web3 and related projects give us more control over the data or information we share. We are combating the inconveniences of Web2. Finally, we will just remind you that Web3 is a substitute for the next-generation Internet, which has also not yet fully developed.

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