How to get started in crypto

incredible takeaways from the @GoodTimeShowCH hosted by @sriramk and @aarthir

If you read till the end you can find out what it takes to DM @balajis for crypto advice

A thread
From the @0xPolygon founders @_jdkanani and @sandeepnailwal:

- People in crypto communities are cool. Just reach out and ask for advice. There are no stupid questions

- Build > worry about regulation. Worse case scenario - you pack your laptop and take a flight out
From @sowmay_jain founder of @Instadapp:

Go work for a DAO

Become a contributor to an organisation that manages billions of dollars today and watch your contributions make real world change while learning
From @MetaKovan on NFTs:

History has always been written by the winners. Ethereum and NFT's however allow you to create something that will live forever.

If you had a canvas that you know would exist forever, what would you create?
Since you've read till the end, here's @Balajis advice:

- Read Mastering Bitcoin & Mastering Ethereum by @aantonop

- Do @a16z crypto course

- @dwr crypto readings - find them here : danromero.org/crypto-reading/

- Do Cryptozombies - learn solidity

- Understand chainlink & oracles
When you're done with all this - THEN you can DM him for advice.

While I don't think he meant it literally - Its such a high bar that maybe you will get a response

Or maybe you wouldn't need his help by then

It's a great set of reading anyway
Special Mention: This wasn't mentioned on the show but @robogajesh has a great thread on how to become a blockchain dev

If you like the thread, R/t it so more people can get started in building the future of the world through crypto

and follow me @srinathariharan for more content on crypto, startups and more

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More from @srinathariharan

13 Jun
Bitcoin's taproot upgrade is a huge deal for the entire crypto community

It has finally received approval from miners to move ahead

h/t @KenzieSigalos

What is Taproot and what does it mean?

A breakdown for the avg non technical user

🧵(1/8)
Proposed by Gregory Maxwell:

Taproot was first proposed in 2018 by Gregory Maxwell,

Greg used to be the CTO of @Blockstream till 2018,

After which he left to work on Bitcoin's core development (2/8)
Context: First upgrade in 4 years

After SegWit(block size increase) in 2017,

Taproot is the first time an upgrade is happening to Bitcoin

See the live signalling status at taproot.watch

h/t @hampus_s (3/8)
Read 10 tweets
4 Jun
If you know ETH, you've heard of Polygon - $MATIC

They've had a ton of buzz recently with @mcuban investing in them

and have seen a 500% rally since April

But what is it? I read the whitepaper, so you don't have to

Here's all about polygon for the avg non technical user

a 🧵
Polygon started as Matic Network in 2017 by @sandeepnailwal @_anuragarjun and @_jdkanani
For context

Polygon sits on the ethereum ecosystem

It tries to solve the biggest problems with the network while taking advantage of the existing ecosystem of solidity devs, Dapps and users

Ethereum did ~1.2 million transactions/day

ETH killers like DOT do avg of 10-15k/day
Read 15 tweets
24 May
@solana is becoming the AWS of crypto

A recent tweet by @garrytan about his frustration using Binance to buy Solana piqued my interest in it

I read and condensed the white paper, so you don't have to

here's an overview on Solana for the avg non technical reader

a 🧵
Solana was started over 3.5 years ago

by ex-Qualcomm and Dropbox engineer Anatoly Yakovenko

Solana is trying to build the infrastructure to power the next generation of crypto and DeFi apps
Why it's needed:

Blockchains today don't have the scale to power applications of every type

for comparison

AWS can handle 250,000 requests/sec

ETH today can do 30/second
(2.0 goes up to 10k/sec)

As on date Solana can do 50k/second and will increase with time
Read 13 tweets
20 May
"For the internet, Ethereum 2.0 launch will be Independence Day.

$ETH is internet independence. 🚀"

h/t @AlexMasmej

The beacon chain is already here

Scared about your ETH price drop? this might ease your mind

ETH 2.0 for the average non technical user

a thread 🧵
For Context

Ethereum did 1.46 million transactions yesterday, up 72% YoY

With the rapid adoption of ETH, for Dapps, NFT's and more. ETH desperately needed an upgrade
Upgrade 1: Moving from PoW to PoS

The simple version

transaction validation is moving from miners competing to solve math problems

to

Validators selected from a pool of people who placed/staked their ETH. They get a % of transaction fees and not block rewards
Read 9 tweets
11 May
"EIP-1559 mathematically guarantees that $ETH will hit $15,590. That is my high level understanding"

h/t @ricburton

With ETH breaking all time highs this week, understanding it has become an imperative

WTF is EIP-1559 mean for the average non technical user?

a thread 🧵
**Some context:**

Currently 90%+ of web3(NFT's, DAPP's etc) is all on the ETH ecosystem.

With more real world applications spawning everyday, transaction fees(also called gas fees) are becoming increasingly important
Currently the ETH ecosystem uses a simple auction system to determine transaction fees

Miners choose to process transactions with the highest bids

You pay more for a priority transaction

This system has quite a few problems and EIP-1559 solves all of them

h/t @VitalikButerin
Read 12 tweets

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