Whether its a brand fight b/w Pepsi & Coca Cola or Nike launching a new shoe collection, brands spend millions of $$ on marketing to win the battle. For brands to hold a prominent position in the eyes of their targeted audience, strategising is vital

Let me ask you question👇👇 How much does an Umbrella cost?
10$ - 12$ maybe

What's the function of an umbrella?
📌To Keep you dry when its raining

There’s a brand called Pasotti, whos’ umbrellas cost anywhere between 250$ - 800$
Obviously a more sturdy, luxurious umbrella, even opening it sounds good💯

Gm web3 fam!

Its finally day 26 of #web3glossary🚀
And with this, series has come to an end

Z: zk Rollups

By learning you'll teach and by teaching you’ll learn. Sharing on web3 terms & jargons for the last 1 month was a great learning experience for me and I hope for you too Let's get to the thread now?

Having to spend $20 or more in gas fees for a single txn is not ideal if you want to complete a DeFi trade

If you've been hearing zk or zero knowledge, you're not alone. It's the next big thing in web3
With an increase in the number of Dapps, ...

Gm web3 fam!

Its Day 25 of #web3glossary

Decentralized networks can only provide 2 out of 3 benefits at any given time in terms of decentralization, security, & scalability Blockchain Trilemma

Let’s look at modular blockchains which aim at solving for scalability & flexibility We’ll be comparing different modular blockchains today, but first

What’s modular blockchain?🧐
In monolithic blockchains such as bitcoin,Ethereum all the nodes & validators of the network are required to execute the same txns & do consensus on the chain

Modular blockchain..

Hola folks 👋

Its Day 24 of #web3glossary 🚀🚀

Consensus mechanisms ensure that all the txns on the network are genuine & all participants agree on a consensus on the status of the ledger. PoS and PoW are the most commonly known.

Today we look at PoA, PoB, PoC and PoH

👇👇 Need some background on consensus algos? Check out this thread on PoS vs PoW

https://twitter.com/laishawadhwa/status/1558076636784136192?s=20&t=kValTNWI976IJu8mu_l-8A

Gm Gm Web3 fam!

Its Day 23 of #web3glossary

W: WWW,Wrapped token,wei
Do you remember the first time you heard about Blockchain? Maybe you took it as a new technology that would change everything. Maybe you just wondered if you should start investing in crypto.
Maybe...
👀👇 ..you were just getting your head around the concept of a decentralized web
The truth is web3 is indeed the decentralized internet of the future🚀

#web3glossary was started as a series of twitter threads to help people understand this space better and clear the air around...

Gm gm folks 🫡

Its day 22 of #web3glossary 🚀🚀

V: Validators

Validators of blockchain technology aren't only its sower but its rewards reaper too. Let's get to the depth of it🧐

But first, here's some humor to start with
👇👇 What are crypto validators and how do they work?
Crypto validators = Payment processors of the decentralized networks.
Technically, a crypto validator is a participant in a blockchain responsible for verifying txns.
After verifying the legitimacy of the txn, the validator adds..

Gm Web3 fam!

Its day 21 of #web3glossary 🚀

Today’s all about the UX in the web3 space

Grab your coffee, coz it's a slightly longer thread today 😅
👇👇 Web 3 is redefining how we communicate and share information. While developers are busy building the infrastructure of web3, the
user experience of most dApps has taken a back seat.

Hola folks!👋🏻

It’s Day 20 of #web3glossary 🚀

A whooping $670 mn were identified in crypto losses in Q2 of 2022🤯🤯

Now that I have your attention, let’s get to some learning👀

T: Token, testnet, transaction, TPS, TVL Token 🎟️

Token is a digital asset created on an existing blockchain & can be used to represent digital and physical assets or to interact with dapps. It allows the holder to use it for investment, to store value, or to make purchases.

Gm Gm web3 fam!

Its Day 19 of #web3glossary 🚀🚀

S- Sidechain, smart contract, Sharding, sandwich attack

👇👇 Sidechain is a parallel blockchain used to offload txns from the mainchain to increase scalability/add other functionality. They’re connected to their parent chain, via a two-way link that allows data & assets to be seamlessly transferred.

Its day 18 of #web3glossary 🚀🚀

R: Relayer, Rug pull,Rollup

Blockchain is still in its infancy and stuck transactions can be a frustrating experience. There’s got to be a solution, right?

Lessgooo👇2⃣2⃣ Relayer it is💯

As the name suggests, it takes individual orders and organizes them into an order book to simulate the experience of an exchange without actually being one.

Send your meta transactions, the relayer takes care of the rest!

What is a meta txn?🤔🤔

Its day 17th of #web3glossary 🚀🚀

If you’ve found yourself pulling your hair out when a transaction seemingly pauses forever, this thread is for you🤯

The impounding question is,
Why is my transaction queued? 🤔

Is it pending or queued? Let’s get some clarity, shall we?
👇👇 Transactions submitted to a network through an EVM node can have one
of the two following statuses before they are propagated to the network
and included in a block:
👉Pending
👉Queued

What’s really the difference though?

Gm Gm buidlers and web3 enthu cutlets!

Its Day 16 of #web3glossary 🚀

P: PoW | PoS In such a dynamically changing status of the blockchain, we need an efficient,fair, real-time & secure mechanism to ensure that all the txns on the network are genuine and all participants agree on a consensus on the status of the ledger

Consensus mechanism does that job for us

Its Day 15 folks!

Somebody today was explaining me how the cryptocurrency market was changing, even though I already knew, it was a bit coin descending 😅

Let's get to learning some web3 terms.👇

O: On chain, Off chain

LFG🚀🚀 Blockchains process numerous transactions every minute. Do all transactions happen on chain? Do we have off chain transactions? Today’s all about transactions dynamics!🤩

Think of a blockchain as a cloud storage facility, which has two parts - private and public. 👇

GM Folks!
2 weeks of #web3glossary 🥳🥳

It's day 14 today 🙌
Lets get back to some basics, shall we?

N: NFTs, Nonce, Node
👇👇 Blockchains are a huge network of blocks of data. Where does this data get stored?🤔
These blocks of data are stored on nodes. Basically, node is any device connected to a blockchain.

How’s it going fellas?

Its day 13 of #web3glossary

Ready for some web3 gyaan?

👉M: metaverse, mining, master node, mempool, MEV

lessgoo 🚀 Metaverse is not a new concept. We have a multiple firms creating realistic metaverse
and its been a hot topic since late 2021. But what’s it all about in the web3 space?

Gm fellow learners and buidlers!
It’s day 12 of #web3glossary

L: L1,L2 Liquidity, light node
👇👇 You’ve heard L1 and L2 quite commonly in the web3 space, but not sure what does it refer to? Let’s dig in👀👇

L1: Layer 1
L2: Layer 2

It’s Day 11 of #web3glossary!

They say good things take time, and that’s why the thread is a little late!🙃

K: Keys
👇👇 If you’ve dipped your hands in the world of cryptocurrency, you’ve probably come across the concept of crypto wallets, and may have heard of private or public keys. But what exactly are they?

Gm folks!

It's Day 10 of #web3glossary

Well, we are short of jargons and terms with "J"

Let's talk about social tokens today!

A 🧵 It's a cryptocurrency any community, a brand or an influencer can use to monetise themselves beyond the typical means!

Today platforms like @instagram @YouTube are used as a medium to monetise their skills, however these platforms exert artistic control on their content

Gm Gm folks!

Are ya’ll ready for Day 9 of #web3glossary ?

I: ICO, IEO

🧵👇 We have IPO's in traditional web2 companies, what about web3?

Let’s talk about crowdfunding models in this space!

Day 8 of #web3gloassary

H: Hard fork, Hashing, HODL, Hash Rate

Lessgo🚀🚀 Do you know how BCH started? It was forked from Bitcoin in 2017

When fundamental changes are made in a blockchain, it can result in a hard fork, leading to the formation of a separate chain with different rules which are no longer backward compatible with earlier blocks.

Gm Gm web3 Fam! 👩‍🎤

Its Day 7 of #web3glossary

G: Gas, Genesis block, Gwei
LFG 🚀 In order to send and receive crypto on most blockchains, you must pay a transaction fee.
How’s it calculated?🤔
Let’s get this started with Gas - Fees, limit, and price👇