Start here with beginner-friendly material that simplifies onboarding and learning.

Imagine the Internet as a series of versions, like updates for an app. The old version, called Web2, is where big websites and social media platforms have a lot of control over what you see, what you can do, and even your personal data. Web3 is the new, improved version. It’s built on something called “blockchain” and lets people connect directly with each other, a bit like having a direct chat instead of passing notes through a friend. Web3 aims to give people more trust and say over their online activities and things they own digitally.

Comparing Web2 and Web3:

• Control: In Web2, big companies control a lot. In Web3, you, the user, have more control
• Data: Web2 platforms often decide how your data is used. With Web3, you get to decide
• Money: In Web2, platforms decide how money is made and shared. In Web3, users can have more direct ways to earn and trade
• Connections: Web2 has you connect through platforms. Web3 lets you connect directly with others

A blockchain is often likened to a public database or a scoreboard where information is recorded. Serving as the foundation of Web3, it ensures that every interaction, whether it’s a payment, image, or any kind of record, is logged transparently and securely. The decentralized nature of blockchains means there’s no single company or entity overseeing or controlling it. As a result, individuals aren’t solely depending on one platform’s discretion for data handling. Furthermore, unlike traditional systems, where information might be duplicated across different platforms, blockchain stores data in a way that facilitates easy transferability without unnecessary redundancy, such as maintaining individual passwords for each platform.

An NFT, or Non-Fungible Token, is a unique digital certificate stored on the blockchain that proves ownership of a specific digital item. Whether you create, buy, sell or exchange an NFT, it all gets recorded on the blockchain. The five main reasons individuals engage with NFTs are:

• Digital Ownership: NFTs provide verifiable digital ownership of unique assets on the blockchain such as: art, collectibles, in-game items
• Investment & Speculation: Many see NFTs as a new investment avenue. The hope is that the value of certain NFTs will appreciate over time, allowing the holder to sell them later at a profit
• Utility & Exclusivity: Some NFTs offer utility beyond simple ownership. They might grant access to exclusive content, experiences, or services
• Support for Creators: NFTs offer a new monetization method for artists and creators, allowing fans to support their favorite creators directly through royalty payments that are managed automatically through an NFT smart contact 
• Cultural and Social Capital: Owning certain NFTs can be seen as a status symbol in certain online communities or social groups. Just like owning a nice car or an expensive purse, holding a sought-after NFT can offer social recognition and clout within digital spaces

Ethereum and Solana are both pioneering blockchain platforms, each offering their own unique benefits and running on their respective digital currencies called Ether and Sol. These currencies facilitate transactions and power “smart contracts,” which are like automated rulebooks; they allow for NFTs to be created and traded. For example, you purchase a digital art NFT through an online marketplace, and instead of an intermediary facilitating the transaction, a smart contract ensures you get the art piece and the artist gets paid, all while verifying that your art piece is one-of-a-kind.

For a Web2 comparison, consider how content on platforms like YouTube is centrally controlled and monetized by the platform itself. In contrast, on a Web3 platform powered by Ethereum, creators could mint their videos as NFTs, ensuring unique ownership and potentially earning directly from their audience without a middleman.

Imagine you’re planning a trip and need to go through the airport for your flight. In this Web3-enabled airport, several exciting changes are happening:

• Identity Verification: Instead of standing in long lines and showing your paper passport and boarding pass, you can use a digital passport linked to your Web3 identity. This identity is securely stored on the blockchain, making it incredibly difficult for anyone to fake or steal your identity.
• Luggage Tracking: Airlines at this airport use a blockchain system to track your luggage from check-in to your destination. With this technology, you can check on your phone to see exactly where your suitcase is, providing peace of mind and reducing the chances of lost luggage.
• Payment Freedom: In the airport shops and restaurants, you can pay with cryptocurrency like Ethereum. This means you don’t need to exchange your money for local currency or pay hefty conversion fees. Plus, transactions are quick and secure because Ethereum operates on the blockchain.
• VIP Lounge Access: Some travelers own NFTs that grant access to exclusive airport lounges. These NFTs are like digital tickets, and they prove that you’re entitled to premium services, such as comfortable lounges, high-speed Wi-Fi, and complimentary refreshments. It’s like having a special pass to enjoy your airport experience.
• Boarding Pass Flexibility: Passengers can trade flights or seats within this blockchain-based system, and certain boarding passes may evolve into collectible items created by renowned digital artists or sponsored by major brands
• Car Rentals: You can rent a car using Ethereum. A smart contract ensures that you get the vehicle, and the car rental company gets paid automatically once you return the car. No need for lengthy paperwork or deposits.

So, in this Web3-integrated airport:

• You have more control and trust over your identity and data
• Your luggage is less likely to get lost because of blockchain tracking
• Payments are convenient and cost-effective with Ethereum and Solana
• NFTs provide access to exclusive perks
• Smart contracts make services like car rentals hassle-free

Overall, this airport is more efficient, secure, and user-friendly, thanks to the integration of Web3, blockchain, cryptocurrency, and NFTs. It’s like experiencing a modern, digital airport where you have more control and enjoy a smoother journey.

Start here with beginner-friendly material that simplifies onboarding and learning.

Imagine the Internet as a series of versions, like updates for an app. The old version, called Web2, is where big websites and social media platforms have a lot of control over what you see, what you can do, and even your personal data. Web3 is the new, improved version. It’s built on something called “blockchain” and lets people connect directly with each other, a bit like having a direct chat instead of passing notes through a friend. Web3 aims to give people more trust and say over their online activities and things they own digitally.

Comparing Web2 and Web3:

• Control: In Web2, big companies control a lot. In Web3, you, the user, have more control
• Data: Web2 platforms often decide how your data is used. With Web3, you get to decide
• Money: In Web2, platforms decide how money is made and shared. In Web3, users can have more direct ways to earn and trade
• Connections: Web2 has you connect through platforms. Web3 lets you connect directly with others

A blockchain is often likened to a public database or a scoreboard where information is recorded. Serving as the foundation of Web3, it ensures that every interaction, whether it’s a payment, image, or any kind of record, is logged transparently and securely. The decentralized nature of blockchains means there’s no single company or entity overseeing or controlling it. As a result, individuals aren’t solely depending on one platform’s discretion for data handling. Furthermore, unlike traditional systems, where information might be duplicated across different platforms, blockchain stores data in a way that facilitates easy transferability without unnecessary redundancy, such as maintaining individual passwords for each platform.

An NFT, or Non-Fungible Token, is a unique digital certificate stored on the blockchain that proves ownership of a specific digital item. Whether you create, buy, sell or exchange an NFT, it all gets recorded on the blockchain. The five main reasons individuals engage with NFTs are:

• Digital Ownership: NFTs provide verifiable digital ownership of unique assets on the blockchain such as: art, collectibles, in-game items
• Investment & Speculation: Many see NFTs as a new investment avenue. The hope is that the value of certain NFTs will appreciate over time, allowing the holder to sell them later at a profit
• Utility & Exclusivity: Some NFTs offer utility beyond simple ownership. They might grant access to exclusive content, experiences, or services
• Support for Creators: NFTs offer a new monetization method for artists and creators, allowing fans to support their favorite creators directly through royalty payments that are managed automatically through an NFT smart contact 
• Cultural and Social Capital: Owning certain NFTs can be seen as a status symbol in certain online communities or social groups. Just like owning a nice car or an expensive purse, holding a sought-after NFT can offer social recognition and clout within digital spaces

Ethereum and Solana are both pioneering blockchain platforms, each offering their own unique benefits and running on their respective digital currencies called Ether and Sol. These currencies facilitate transactions and power “smart contracts,” which are like automated rulebooks; they allow for NFTs to be created and traded. For example, you purchase a digital art NFT through an online marketplace, and instead of an intermediary facilitating the transaction, a smart contract ensures you get the art piece and the artist gets paid, all while verifying that your art piece is one-of-a-kind.

For a Web2 comparison, consider how content on platforms like YouTube is centrally controlled and monetized by the platform itself. In contrast, on a Web3 platform powered by Ethereum, creators could mint their videos as NFTs, ensuring unique ownership and potentially earning directly from their audience without a middleman.

Imagine you’re planning a trip and need to go through the airport for your flight. In this Web3-enabled airport, several exciting changes are happening:

• Identity Verification: Instead of standing in long lines and showing your paper passport and boarding pass, you can use a digital passport linked to your Web3 identity. This identity is securely stored on the blockchain, making it incredibly difficult for anyone to fake or steal your identity.
• Luggage Tracking: Airlines at this airport use a blockchain system to track your luggage from check-in to your destination. With this technology, you can check on your phone to see exactly where your suitcase is, providing peace of mind and reducing the chances of lost luggage.
• Payment Freedom: In the airport shops and restaurants, you can pay with cryptocurrency like Ethereum. This means you don’t need to exchange your money for local currency or pay hefty conversion fees. Plus, transactions are quick and secure because Ethereum operates on the blockchain.
• VIP Lounge Access: Some travelers own NFTs that grant access to exclusive airport lounges. These NFTs are like digital tickets, and they prove that you’re entitled to premium services, such as comfortable lounges, high-speed Wi-Fi, and complimentary refreshments. It’s like having a special pass to enjoy your airport experience.
• Boarding Pass Flexibility: Passengers can trade flights or seats within this blockchain-based system, and certain boarding passes may evolve into collectible items created by renowned digital artists or sponsored by major brands
• Car Rentals: You can rent a car using Ethereum. A smart contract ensures that you get the vehicle, and the car rental company gets paid automatically once you return the car. No need for lengthy paperwork or deposits.

So, in this Web3-integrated airport:

• You have more control and trust over your identity and data
• Your luggage is less likely to get lost because of blockchain tracking
• Payments are convenient and cost-effective with Ethereum and Solana
• NFTs provide access to exclusive perks
• Smart contracts make services like car rentals hassle-free

Overall, this airport is more efficient, secure, and user-friendly, thanks to the integration of Web3, blockchain, cryptocurrency, and NFTs. It’s like experiencing a modern, digital airport where you have more control and enjoy a smoother journey.

Stay tuned — 
We’ll be adding to our Web3 Basics content library soon