INTRODUCTION

TO
BLOCKCHAIN &
WEB3
BY EC
What is Web3
Web3 is a vision for a new version of the
internet based on blockchain technology,
where users have more control over their
data and online interactions.

It is a combination of two components -

Web and 3.0, As explained in the definition
above it's a vision, which means you're still
early to Web 3.0
 The Evolution of the
Web 1.0 (Read-Only) was the early internet, primarily

Internet(WEB 1.0)
static websites where users mainly consumed information.
It was distributed and Non-centralized in the sense that
many individual servers hosted information, but very few
people created the content.

To get a clear picture, imagine using tiktok in low

resolution without being able to cement, Imagine
Instagram without filters or editing capabilities. Using
Twitter with only text, no images or videos. Watching
YouTube videos with buffering and low-quality resolution.
That's what being in Web 1.0 felt like.

Web1 despite it's static nature fueled the dot-com boom,

The dot-com boom was a late 1990s frenzy of internet
investment, driven by the perceived limitless potential of
Web 1.0. Investors poured money into ".com" companies,
often without solid business plans, leading to inflated
valuations. The bubble burst when profitability failed to
materialize, causing widespread bankruptcies and a
market crash. This exposed Web 1.0's flaws and paved the
The Evolution of the
Internet(WEB 2.0)
Web 2.0 (Read-Write) is the current evolution of the
internet, characterized by interactive and dynamic
websites that enable users to create and share
content.

Web 2.0 has fueled the social media explosion, with

platforms like Facebook, Twitter, and YouTube
becoming integral parts of daily life. The rise of
blogging, podcasting, and online communities has
enabled users to create and share content,
democratizing information and giving voice to
diverse perspectives. However, Web 2.0's
centralized nature, reliance on advertising revenue,
and vulnerability to misinformation and algorithmic
manipulation have created challenges, making way
for the next evolution: Web 3.0.
The Evolution of the
Web 3.0 (Read-Write-Execute) represents the next
Internet(WEB 3.0)
evolution of the internet, characterized by
decentralized, blockchain-based networks that
enable secure, transparent, and autonomous
interactions. Web 3.0 promises to revolutionize the
web by enabling decentralized applications (dApps)
and services, providing secure, peer-to-peer
transactions and data exchange, fostering an open,
interoperable, and community-driven ecosystem,
and mitigating the risks of centralization,
censorship, and data exploitation.

Web 3.0 aims to create a more democratic, secure,

and user-centric internet, where individuals have
greater control over their data, identity, and online
experiences.
The Evolution of the Internet
Key Characteristics of
Web3
1. Decentralisation: In Web3 Instead of relying on centralized servers and
corporations, Web3 aims to distribute power across a network of computers.
This reduces single points of failure and control, fostering a more resilient and
democratic internet. Most infrastructure hink of it as shifting from a few large,
controlling entities to a network where many participate.

2. Token-Based Economies: Token-based economies are a fundamental

feature of Web3, enabling decentralized networks to incentivize participation,
reward contributors, and create new economic models. Token-based economies
are systems where tokens, or digital assets, are used to represent value,
incentivize behavior, and facilitate transactions within a network.
Key Characteristics of
Web3
3. Security: Web3 leverages cryptographic techniques to secure data and
transactions. This includes encryption and digital signatures, zero knowledge
proofs e.t.c which protect user information and prevent unauthorized access.
This is designed to protect your information and assets from those who would
steal them

4. Community Governance: Web3 platforms often incorporate mechanisms for

community governance, allowing users to participate in decision-making
processes. This empowers users to shape the development and evolution of the
platform. This means that users can have a say in how the web3 platforms that
they use are run.
WEB3 ECOSYSTEM
What is a Blockchain
Web3 is built on Blockchain
Technology

Blockchain is A decentralized, digital

ledger that records transactions
across a network of computers,
making it secure, transparent, and
tamper-proof.

It is a decentralized, digital ledger that

records transactions across a network
of computers, making it secure,
transparent, and tamper-proof. A good
How Blockchain
Works
Blockchains work by
using
1. Consensus Mechanism: These are the rules that allow a distributed network
to agree on the validity of transactions and the state of the blockchain. They
prevent double-spending and ensure that only legitimate transactions are added to
the chain. Examples include:
Proof-of-Work (PoW): Requires participants (miners) to solve complex
computational puzzles.
Proof-of-Stake (PoS): Selects validators based on the number of coins they hold
and "stake."
Proof-of-History (PoH): Adds a time stamp to the blockchain.

2. Cryptography: This is the foundation of blockchain security. It ensures the

integrity and confidentiality of transactions.
Key cryptographic techniques include:
Hashing: Transforms data into a fixed-size string of characters (a hash). This is
used to create unique identifiers for blocks and transactions.
How Blockchains
Work
3. Distributed Networks: Blockchains operate on a peer-to-peer (P2P) network,
where multiple computers (nodes) share and maintain a copy of the blockchain.
This decentralization eliminates the need for a central authority and enhances
security and transparency. Each node on the network has a copy of the
blockchain, which ensures that everyone has access to the same information. This
decentralized architecture also enables the network to function even if some
nodes go offline, making it more resilient and fault-tolerant.

4. Smart Contracts: Smart contracts are self-executing contracts with

automated and trustless execution of complex logic. They're autonomous,
immutable, transparent, and programmable. A smart contract can automate a
rental agreement, where the tenant's payment is held in escrow until the landlord
confirms the keys have been returned, ensuring a secure and transparent
Benefits of Blockchain
Technology
1. Security: Blockchain's decentralized and
cryptographic nature ensures that transactions are
secure and tamper-proof.

2. Transparency: All transactions on a blockchain are

recorded publicly, making it possible to track and
verify transactions.

3. Immutable: Blockchain's immutable nature ensures

that once a transaction is recorded, it cannot be
altered or deleted.

4. Decentralized: Blockchain operates on a

decentralized network, eliminating the need for
intermediaries and central authorities.
Benefits of Blockchain
Technology
6. Trustless: Blockchain enables trustless
transactions, allowing parties to transact without
needing to trust each other.

7. Cost-effective: Blockchain reduces transaction

costs by eliminating intermediaries and automating
processes.

8. Increased accuracy: Blockchain's automated

processes reduce the risk of human error, increasing
accuracy.

9. Real-time updates: Blockchain enables real-time

updates, allowing for faster transaction processing.
Getting Started with
Web3
How do you position yourself in
Web3
1. Learn the basics- Get familiar with Web3 words, slangs
and terminologies like HODL, FOMO, FUD, Token, Mining,
Wallet, Farming, Dapp, NFT, SUI e.t.c

2. Get a Wallet: Your wallet acts as your account in Web3

so it's important for every of your interactions, a good
wallet like SUI Wallet by Mysten Labs is a good pick for
the SUI ecosystem. Wallet Security cannot be
overemphasized, keep your seed phrase safe always,
then you can interact with SUI blockchain.

3. Join a Community: Joining a like-minded community

can improve your learning ability, it enables you engage
Security in
Web3Using Web3 Products
could
1. Phishing lead
attacks: to
Scammers trick
users into revealing sensitive
information, such as private keys or
passwords by redirecting users to
fraudulent sites

2. Smart contract vulnerabilities:

Exploitable bugs in smart contract
code can lead to financial losses or
data breaches.

3. Wallet security: Weak passwords,

insecure key storage, or
SAFETY TIPS IN
WEB3
1. Use strong passwords: Combine uppercase
and lowercase letters, numbers, and special
characters to create unique, unguessable
passwords.

2. Enable two-factor authentication (2FA): Add

an extra layer of security to your accounts and
wallets using 2FA methods like Google
Authenticator or SMS codes.

3. Store private keys securely: Use hardware

wallets, encrypted files, or secure note-taking
apps to protect your private keys Or preferably,
store them offline.

4. Be extremely cautious with links and

Bonus Security Tips
1. Use reputable wallets and exchanges:
Choose well-established, security-focused
wallets and exchanges to minimize risk.

2. Monitor your accounts and wallets:

Regularly check your accounts and wallets for
suspicious activity or unauthorized
transactions.

3. Use a VPN: Virtual private networks (VPNs)

can help protect your internet connection and
data from interception or eavesdropping.

4. Stay informed and Protect your health:

Follow reputable sources and stay up-to-date