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More from @0xzahrah

𝐙𝐚𝐡𝐫𝐚

@0xzahrah

Dec 2, 2024

Stop scrolling please!

Before you continue scrolling as a Web 3 enthusiast you need this as a refresher, especially if you are web 3 normie or even web 3 hormie.

Let's start with this short story tonight:

Danbaiwa from Kano was excited when he heard about a game on Telegram where you could earn "coins" just by tapping on your phone. He invested his time, money, and energy into this because the latest games were collecting Telegram Stars, which promised premium access to larger rewards and in-game updates. He thought that Telegram mining was the only real opportunity in the web3 space.

At first, it was great. Danbaiwa was getting coins and feeling like he was part of this cool new thing. But then, the excitement faded. Some savvy members in the group, who knew how to flip the coins into local currency, started to take advantage of the less experienced participants. They offered to help convert the coins into Naira through Peer-to-Peer (P2P) trading but would only give back less than 50% of the actual value, pocketing the rest for themselves. Danbaiwa, trusting these "helpers", fell for this scam, leaving him with much less than he had hoped for.

To make matters worse, the mining meta on Telegram seemed to be dying out. More and more projects couldn't deliver the rich airdrops they had promised, and the groups became quieter as enthusiasm waned.

Disappointed and feeling like he had wasted his time, money, and energy, Danbaiwa decided to delete the Telegram app from his phone. The projects he had invested in were turning out to be shabby, with little to no real value or follow-through on their promises.

This experience underscored the need for him to learn more about web3, which is wide and offers numerous opportunities beyond just Telegram mining.

Why Danbaiwa Needs to Learn More About Web3:

Danbaiwa's journey into Telegram mining highlights why understanding the broader aspects of web3 is essential.
Here's a quick overview to help anyone, including Danbaiwa, diversify their crypto knowledge and portfolio:

What is Blockchain?

Blockchain is a distributed ledger technology that records transactions across a network of computers, eliminating the need for a central authority.

Here are some key characteristics:

Decentralized: No single entity controls the network, enhancing security and trust.
Secure: Utilizes advanced cryptography to protect data and ensure integrity.
Transparent: Transactions are publicly visible, promoting accountability (note: this may vary in private blockchains).
Structured Variously: Different types of blockchains (public, private, hybrid) cater to specific use cases and industries.

Key Terms: Use Cases, Utility, and Application

Before delving deeper, let's clarify three essential terms:
Use Cases: Specific scenarios or industries where blockchain technology can be applied.
Utility: The benefits and value that blockchain brings to these use cases.
Applications: Real-world implementations of blockchain technology, such as cryptocurrencies, decentralized autonomous organizations (DAOs), decentralized finance (DeFi), and non-fungible tokens (NFTs).

Types of Blockchain:

Public Blockchains:
Open to Everyone: Anyone can participate, send transactions, and become a node.
Decentralized: No single entity controls the network.
Examples: Bitcoin, Ethereum, Litecoin.

Private Blockchains:
Restricted Access: Only authorized parties can participate, view, and validate transactions.
Not Publicly Visible: Transactions are not accessible to the public.
Examples: Hyperledger Fabric, R3 Corda.

Consortium Blockchains:
Semi-Decentralized: Managed by a group of organizations.
Authorized Participation: Only approved nodes can validate transactions.
Examples: Energy Web Foundation, R3.

Hybrid Blockchains:
Combination of Public and Private: Incorporates elements from both types.

Permissioned or Permissionless: Can allow anyone to join or restrict access.
Examples: Dragonchain, Stratis.

The Blockchain Trilemma

The Blockchain Trilemma refers to the trade-offs between three key properties:
Security: Protecting the blockchain from attacks and manipulation.
Scalability: Increasing the blockchain's capacity to handle a high volume of transactions.
Decentralization: Distributing control and decision-making among nodes.
Each blockchain must balance these properties, often sacrificing one or two to prioritize the others.
Examples of Trade-offs:
Bitcoin: Prioritizes Security and Decentralization but faces Scalability issues.
Private Blockchains: Often prioritize Security and Scalability but sacrifice Decentralization.
Think of it like a triangle, moving closer to one corner (e.g., Security) means moving further from the others (Scalability and Decentralization).

Applications of Blockchain:

DeFi (Decentralized Finance): Financial services without intermediaries, using smart contracts.
DAO (Decentralized Autonomous Organization): Self-governing organizations operating on blockchain.
Decentralized Identity: Secure identity management, allowing control over personal data.
Smart Contracts: Self-executing contracts with automated rules.
Decentralized Applications (DApps): Applications running on blockchain, offering decentralized services.
Non-Fungible Tokens (NFTs): Unique digital assets representing ownership.
Stablecoins: Cryptocurrencies pegged to stable assets to reduce volatility.
Decentralized Exchanges (DEXs): Peer-to-peer trading platforms without intermediaries.

Use Cases of Blockchain:

Financial Services: Secure transactions and asset management.
Healthcare: Decentralized patient data management and medical research.
Insurance: Fraud detection and transparent claims processing.
IoT (Internet of Things): Secure data transmission for smart devices.
Education: Identity management and secure academic records.
E-voting: Secure and transparent voting systems.
Supply Chain Management: Accurate asset tracking and transparency.
Logistics: Efficient goods tracking and reduced counterfeiting.
Government: Secure data management and public services.
Media: Secure content distribution and royalty management.
Sports and Esports: Streamlined operations and enhanced fan engagement.

Evolution of Blockchain Technology

Blockchain technology has evolved through three generations:

1st Generation (2008-2010):
Focused on decentralized currency (e.g., Bitcoin).
Limited scalability and functionality.
2nd Generation (2013-2017):
Introduction of smart contracts and decentralized applications (e.g., Ethereum).
Expanded scalability and functionality.
3rd Generation (2018-present):
Emphasis on decentralized finance (DeFi) and interoperability.
Development of new consensus algorithms and blockchain architectures.

Key Milestones:

2008: Bitcoin whitepaper published by Satoshi Nakamoto.
2010: Bitcoin blockchain launched.
2013: Ethereum whitepaper published by Vitalik Buterin.
2015: Ethereum blockchain launched.
2017: ICO boom and rise of DeFi.
2020: Significant growth in DeFi and blockchain adoption.

To grasp blockchain technology better, it's essential to understand the different layers:

Layer One (L1) Blockchain Protocol: The foundational blockchain protocol (e.g., Bitcoin, Ethereum).
Responsible for recording transactions and ensuring security.
Layer Two (L2) Scaling Solutions: Solutions built on top of Layer One to enhance transaction speed (e.g., Optimism, Arbitrum, Polygon).
Layer Three (L3) Application Layer: This layer encompasses the applications and services built on top of Layer Two solutions.
It includes user interfaces, decentralized applications (DApps), and other tools that interact with the blockchain.
Examples include wallets, decentralized finance platforms, and NFT marketplaces.
Layer Zero (L0) Interoperability Protocol:
Protocols that enable interactions between different blockchain networks (e.g., Cosmos).

By learning more about these concepts, tools, and applications, Danbaiwa and others can explore how to use their airdrop rewards to diversify their portfolios across various web3 opportunities, moving beyond the narrow scope of Telegram mining. Staying informed will empower you to navigate this exciting and evolving field.

Thank you for reading, and welcome to blockchain!

Don't forget to forget to follow me, like, share and join my tg channel got ongoing giveaway 😉

Read 4 tweets

𝐙𝐚𝐡𝐫𝐚

@0xzahrah

Nov 9, 2024

⚠️ 30+ Manipulation Tactics to Watch Out For in the Web 3 Space!

A thread ✍🏿 by me...

Let's talk about you as a case scenario today 🤭 it might not be relatable but let's assume.

You are a bright and ambitious individual eager to dive into the world of Web3. You spent countless hours learning about web 3 from blockchain, cryptocurrency, and.....

decentralized finance (DeFi), NFT etc.
You decided to specialize in one or more area of web 3.
As u delved deeper, u discovered the various aspects of trading & excited to capitalize on the market's volatility. However, soon realized dat u were navigating a treacherous landscape

Read 24 tweets

𝐙𝐚𝐡𝐫𝐚

@0xzahrah

Oct 27, 2024

🎮 @CheddarFi: Testing on Base Sepolia Testnet

Reward Confirmed✅

💰 Demo tokens 4 gas fees & gameplay rewards!
⌛️ Quick setup required!
⏳ Estimated Time to Test: 10 Minutes

NOTE: Testnet is a demo environment for testing projects.
Mainnet is the live version.

--- Step 1: Download and Set Up Coinbase Wallet ---

Download Coinbase Wallet from the Play Store or Apple Store.
👉 play.google.com/store/apps/det…
If not supported in your region, download Stack VPN.
👉 play.google.com/store/apps/det…
Open Stark VPN and select a working server location. 🌍

--- Step 2: Configure VPN for Mobile Data ---

Open Stack VPN and go to "Tweaks".
Add a new tweak if necessary that matches your network provider.
Select your mobile network provider (e.g., Airtel or MTN). 🍏
Choose a data package (e.g., 100MB or 50MB).
Click "Connect" and wait.

Read 8 tweets

𝐙𝐚𝐡𝐫𝐚

@0xzahrah

Sep 7, 2024

How I got into NFTs and how it changed my life for the better!

Alhamdulillah🥰🧵👇🏾

(1/12)

It all started with curiosity.

I wanted to understand how NFT marketplaces work like how @ParasHQ and @opensea operate and work, so I read whitepapers and FAQs.

I even practiced minting artworks on various platforms like Near, Ethereum & Tezos. Also how artists behave.
(2/12)

My artistic journey began unexpectedly.
I combined my field of study with art, creating physiology-related artwork for @NEARhealth_ by providing me with a Near wallet, and I discovered lower transaction fees on both @NEARProtocol and @ParasHQ NFT marketplace.
(3/12)

Read 15 tweets

𝐙𝐚𝐡𝐫𝐚

@0xzahrah

Aug 23, 2024

𝙷𝚘𝚠 𝙸 𝚞𝚜𝚎𝚍 𝚖𝚢 𝕏 𝚙𝚛𝚎𝚖𝚒𝚞𝚖 𝚜𝚞𝚋𝚜𝚌𝚛𝚒𝚙𝚝𝚒𝚘𝚗 𝚋𝚎𝚏𝚘𝚛𝚎 𝚒𝚝 𝚠𝚎𝚗𝚝 𝚠𝚛𝚘𝚗𝚐🥲

𝙰𝚕𝚑𝚊𝚖𝚍𝚞𝚕𝚒𝚕𝚕𝚊𝚑🥰 𝚕𝚎𝚝'𝚜 𝚍𝚒𝚟𝚎 𝚒𝚗 𝚝𝚑𝚎 𝚛𝚎𝚌𝚊𝚙 𝚠𝚒𝚝𝚑 𝚕𝚒𝚗𝚔𝚜🔗 𝚝𝚘 𝚕𝚘𝚗𝚐 𝚙𝚘𝚜𝚝𝚜 𝙸 𝚑𝚊𝚟𝚎 𝚠𝚛𝚒𝚝𝚝𝚎𝚗 𝚜𝚘 𝚏𝚊𝚛.

https://x.com/0xzahrah/status/1821827364445172095?t=Su9vqy1LNep6BSUo-TFLLw&s=19

https://x.com/0xzahrah/status/1821827364445172095?t=Su9vqy1LNep6BSUo-TFLLw&s=19

https://x.com/0xzahrah/status/1824260984661479875?t=Su9vqy1LNep6BSUo-TFLLw&s=19

https://x.com/0xzahrah/status/1824260984661479875?t=Su9vqy1LNep6BSUo-TFLLw&s=19

Read 27 tweets

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