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Discover the basics of Web3 in this simple, easy-to-understand guide.
Learn how wallets work as your digital identity, how blockchain powers decentralisation, and how P2P (peer-to-peer) transactions enable secure, direct exchanges without middlemen.
Whether you’re curious about crypto, NFTs, or the future of the internet, this video breaks down the key concepts of Web3 for beginners.
date : 2025-01-04 06:00:16
views : 4591
likes : 782
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Understanding Web3: Your Wallet, Blockchain, and P2P Explained
In this tutorial, our Web3 DeFi tech editor introduces the concept of Web3, warning us not to confuse it with Web2, where we only read and write on social media platforms like Facebook, Twitter, and Wikipedia. Web1 was just a library where people only read information, while Web2 allowed users to not only read but also write and interact with each other.
The editor explains that Web3 is different, as it’s based on blockchain technology, which ensures ownership and control of our digital assets. Our wallet, similar to a bank account, is ours alone, and we can choose which platforms to use it with. Think of it as a digital, decentralized bank where we can control our funds without intermediaries like the government or banks.
The editor shares an analogy between a digital wallet and a physical wallet. Just as we can carry our physical wallet to various stores, we can use our digital wallet to transact on different platforms, like binance, Facebook, or Instagram, without having to log in separately each time.
The tutorial also briefly touches on the concept of blockchain, a decentralized, digital ledger that records transactions and ensures the integrity of our digital assets. The editor highlights the importance of knowing how to use blockchain technology, citing the example of binance’s problems with the Nigerian Central Bank’s concerns about the value of the naira.
The tutorial concludes by emphasizing that while Web3 has its challenges, it’s essential to understand the concept to navigate the decentralized, digital world. With Web3, we can now transact, make decisions, and own our digital assets without relying on intermediaries, giving us more control over our online lives.
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