Your Web3 Wayfinder

Why Fall Down the Rabbit Hole When You Can Take the Stairs?

Article and Cover Art by Trewkat | Edited by Hiro Kennelly

When you’re new to web3, the array of ideas and online platforms you are suddenly exposed to can be daunting. Even if you just want to lurk for a bit while you learn and absorb, there are some fundamental concepts you’ll need to get familiar with.

To make your path a little easier, start with the following set of articles from Bankless Publishing. Think of this as your reading list for a web3 essentials course; you can cherry pick or go from start to finish in the way that suits your available time and energy.

Topics covered include:

• What is web3 all about?

• What is a blockchain anyway?

• CEX, DEX and DeFi

• Crypto wallets

• Non-Fungible Tokens aka NFTs

• WTF are DAOs?

What Is Web3 All About?

People are attracted to web3 for a variety of reasons, but some of the concepts which seem to hold broad appeal relate to privacy, self-sovereignty, and the pursuit of public good. Check out these articles for an overview of the key ideas:

• The Core of Crypto Is Punks and Principles

• Web3 Enables Coordination Without Hierarchy

• Reinventing Economics With ReFi

• The World Of Web3

What Is a Blockchain Anyway?

Blockchain technology is pretty.. well.. technical. Luckily you can go gently with these easy-to-read explainers:

• Distributed Ledger Technology 101

• 14 Blockchain Basics

• Alternative L1s: Polkadot

• The Environmental Impact of The Merge

CEX, DEX and DeFi

As much as this might sound like sex, drugs, and rock ’n’ roll, it’s not, quite. However, there are some parallels — like protecting your assets, knowing the things you should only do sparingly, and keeping really good records. In short, CEX stands for Centralized Exchange, DEX stands for Decentralized Exchange, and DeFi is short for Decentralized Finance. Here are some greatest hits:

• The Importance of Self Custody

• DEX Aggregator Basics

• Dialing in Decentralized Finance

• 7 Etherscan Basics

Crypto Wallets

This might be the most important part: once you decide it’s time to buy some tokens or set up a web3 wallet for any purpose, it’s crucial that you understand the risks and follow safe practices.

• Cryptocurrency Wallets 101

• What To Do if Your Web3 Wallet Is Hacked

• Safe Access to the Digital Universe

• Web3 Privacy Begins With Your RPC

Non-Fungible Tokens aka NFTs

Non-fungible token takes too long to say, so just go with ‘NFT’. The non-fungible part is tricky to remember, but it really just means the token is unique — not like-for-like replaceable in the way a dollar coin or even a bitcoin would be. NFTs open a world of possibilities around associating various rights with onchain digital assets.

• The 101 on NFTs, A Briefing

• The Utility of NFTs for Beginners

• The Most Expensive NFTs in History

• Ultimate NFT Red Flag Checklist

WTF Are DAOs?

Another phrase that takes too long to say, and also isn’t really the best descriptor, is Decentralized Autonomous Organization. The web3 community has shortened this to ‘DAO’ — pronounced similarly to ‘dow’. DAOs are organized communities which operate through decentralized decision making which is usually based on some kind of token ownership.

• 4 Simple Steps on How to Join a DAO

• Four Factors That Make a DAO Sticky

• 7 Essential DAO Skills

• Updating the DAO Operating System

Is That It?

No, that is by no means it. There is so much more to the web3 ecosystem —  much more than one person can realistically keep up with — but finding your niche is half the fun. Here’s some more easy reading which might spark some ideas about where your passion lies:

• 12 Crypto Predictions For 2023

• The Crazy World of Bitcoin

• Crypto Twitter Talks 2023 Trends

• How Web3 Writers Do Research

BanklessDAO’s mission is to help people access and understand the tools to go bankless — in other words to get on board with decentralized financial technologies and embrace the web3 ethos of self-sovereignty and freedom from censorship. Whether you‘ve counted 20 or 60 turns around the sun, this is one revolution you won’t want to miss.

Author/Designer Bio

Trewkat is a writer, editor, and designer at BanklessDAO. She’s interested in learning about crypto and NFTs, with a particular focus on how best to communicate this knowledge to others.

Editor Bio

Hiro Kennelly is a writer, editor, and coordinator at BanklessDAO, an Associate at Bankless Consulting, and is still a DAOpunk.

BanklessDAO is an education and media engine dedicated to helping individuals achieve financial independence.

Bankless Publishing is always accepting submissions for publication. We’d love to read your work, so please submit your article here!

This post does not contain financial advice, only educational information. By reading this article, you agree and affirm the above, as well as that you are not being solicited to make a financial decision, and that you in no way are receiving any fiduciary projection, promise, or tacit inference of your ability to achieve financial gains.

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