Web3 Cohort by 100xDevs

Goal
To create a Cohort of people who are great at Blockchains, Web3.

My background in Web3
Detailed video -

Started working in Sept 2022. Worked at ~3 companies since. Primarily worked at Wallets,
Exchanges and Gambling websites.

Easy -

Hard -

1. - Harkirat Singh
 2. - Led by @cb7chaitanya, mentored by Harkirat

If you want to propose a project, please build a v1 for the Superteam hackathon and we can
sponsor it further
 6. RPC aggregator - Let a user put in a bunch of RPCs from various providers (Helius, Alchemy,
QuickNode) and you should figure out which one to forward requests to (Similar to
)

7. Wallet adapter for a web based wallet - ‣

8. Youtube channel opinions market - Let people trade on a coin associated to a Youtube
channel. Creator can come and collect royalties by connecting their YT account.

9. Tiplink (even tho we’re building it saparately, if you want to build a better version with a twist,
you should do it)

10. Github Bounty Dispenser. Make users give their Adhar/Pan. Make users link their github with
their wallet address. Allow maintainers to approve bounties. Create a dashboard where you
can track profiles of users/companies and a leaderboard of contributors based on bounty
earned

11. UI Library for Solana - NFTCard, TokenCard, SwapCard

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Fractional reserve Banking

Banks dont have your money. They lend out most of it.
If there is a bank run (everyone goes to the bank to withdraw their money), banks wont be able
to pay everyone

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Silicon valley collapsed in 2022. I was in the US when it happened. Most YC companies had their
funds in SVB. They were bailed out, but if not, you would’ve seen a lot of startups die.

Bailouts
The 2008 Financial crisis was triggered by a financial instrument called mortgage-backed
securities.
Even though the banks at Wall Street were at fault, the government ended up bailing them out
using Taxpayer money.

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INR Depreciation (even worse in countries like Japan)

1. USD

1. JPY

Currencies are not backed by assets anymore

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How to create a new currency?

Right now, currencies can only be issued by central governments. You can’t create your own
Kirat coin and ask users to use it.

Even if I do issue a Kirat coin , no one would use it, and for good reasons -

1. I can print any number of Kirat coins, making myself richer

2. I become the central mint and verification athority for the coin.

3. No one would (or should) trust me

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Intro to hashing

Hashing is a process that transforms input data (of any size) into a fixed-size string of characters.

Hash functions have several important properties:

1. Deterministic: The same input will always produce the same output.

2. Fast computation: The hash value can be quickly computed for any given data.

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 3. Pre-image resistance: It should be computationally infeasible to reverse the hash function
(i.e., find the original input given its hash output).

4. Small changes in input produce large changes in output: Even a tiny change in the input
should drastically change the hash output.

5. Collision resistance: It should be computationally infeasible to find two different inputs that
produce the same hash output.

Is this a hashing algorithm?

What if I try “hashing” a string by increasing each alphabet’s value by one. Do you think this
follows all the rules we’ve written above?

SHA-256
Lets try out a famous hash function, SHA-256 here -
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Node.js code for generating SHA-256

const crypto = require('crypto'); Copy

const input = "100xdevs";

const hash = crypto.createHash('sha256').update(input).digest('hex');

console.log(hash)

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Intro to Proof of work

Assignment #1
What if I ask you the following question — Give me an input string that outputs a SHA-256 hash
that starts with 00000 . How will you do it?

A: You will have to brute force until you find a value that starts with 00000
Node.js code

const crypto = require('crypto'); Copy

// Function to find an input string that produces a hash starting with '00000'
function findHashWithPrefix(prefix) {
let input = 0;
while (true) {
let inputStr = input.toString();
let hash = crypto.createHash('sha256').update(inputStr).digest
if (hash.startsWith(prefix)) {
return { input: inputStr, hash: hash };
}
input++;
}
}

// Find and print the input string and hash

const result = findHashWithPrefix('00000');
console.log(`Input: ${result.input}`);
console.log(`Hash: ${result.hash}`);

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Assignment #2
What if I ask you that the input string should start with 100xdevs ? How would the code
change?
Node.js code

const crypto = require('crypto'); Copy

// Function to find an input string that produces a hash starting with '00000'
function findHashWithPrefix(prefix) {
let input = 0;
while (true) {
let inputStr = "100xdevs" + input.toString();
let hash = crypto.createHash('sha256').update(inputStr).digest
if (hash.startsWith(prefix)) {
return { input: inputStr, hash: hash };
}
input++;
}
}

// Find and print the input string and hash

const result = findHashWithPrefix('00000');
console.log(`Input: ${result.input}`);
console.log(`Hash: ${result.hash}`);

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Assignment #3
What if I ask you to find a nonce for the following input -

harkirat => Raman | Rs 100 Copy

Ram => Ankit | Rs 10

Node.js code

const crypto = require('crypto'); Copy

// Function to find an input string that produces a hash starting with '00000'
function findHashWithPrefix(prefix) {
let input = 0;
while (true) {
let inputStr = `
harkirat => Raman | Rs 100
Ram => Ankit | Rs 10
` + input.toString();
let hash = crypto.createHash('sha256').update(inputStr).digest
if (hash.startsWith(prefix)) {
return { input: inputStr, hash: hash };
}
input++;
}
}

// Find and print the input string and hash

const result = findHashWithPrefix('00000');
console.log(`Input: ${result.input}`);
console.log(`Hash: ${result.hash}`);

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Assignment #4
Lets explore
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3. Timestamp server

4. Proof of work

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5. Network

6. Incentive

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