Summary of FULL Web3 Roadmap in 2023 (And how to create your own token)

The video titled "FULL Web3 Roadmap in 2023 (And how to create your own token)" provides an in-depth exploration of the Web3 landscape, focusing on blockchain technology, the creation of tokens, and the evolution of cryptocurrencies.

Key Technological Concepts and Features:

• Web3 Introduction: The speaker discusses the origins of Web3, linking it to the financial crises and the need for decentralized financial systems, which led to the creation of Bitcoin as a response to centralized monetary control.
• Bitcoin and Decentralization:
  • Bitcoin introduced the concept of a decentralized currency using the proof-of-work algorithm to secure transactions and maintain a global ledger.
  • The video explains how Bitcoin's limited supply mimics gold, offering a hedge against inflation.
• Ethereum's Innovations:
  • Ethereum emerged to provide a platform for more than just currency, enabling developers to deploy smart contracts and decentralized applications (dApps).
  • The speaker emphasizes Ethereum's ability to program on the blockchain, contrasting it with traditional web applications that rely on centralized servers.
• Emergence of Layer 1 (L1) Blockchains:
  • New blockchains like Solana and Aptos have been introduced, which utilize different consensus algorithms (e.g., proof of history) to achieve faster transaction speeds compared to Ethereum's proof-of-work.
  • The video discusses the multi-chain future of blockchain technology, where various blockchains will coexist and serve different purposes.
• Creating a Token on Solana:
  • The latter part of the video provides a step-by-step tutorial on creating a token using the Solana blockchain. Key steps include:
    • Setting up a wallet and creating a mint (the token's source).
    • Minting tokens and transferring them to user wallets.
    • The importance of associated token accounts for holding different types of tokens.

Exercises and Incentives:

The speaker encourages viewers to engage with the content through practical exercises, such as:

• Creating their own token and posting the mint address in the comments.
• Limiting the supply of their token and associating metadata.
• Developing an airdrop website that mimics existing services.

Main Speakers or Sources:

The video features a single speaker who guides viewers through the concepts and coding exercises, emphasizing the importance of understanding the underlying technology and its applications in the Web3 ecosystem.

Notable Quotes

— 04:28 — « Why does the government get to decide who to bail out and who not to bail out? »

— 12:00 — « Bitcoin is effectively gold because it's mined at a certain rate and it has limited supply but it's just easier to transact with. »

— 24:41 — « I've never really seen snow I mean I've seen it in bits and pieces but I've never really seen actual snow. »

— 35:40 — « The bank wallet is Modiji, the money printer is this machine that can print money and Modiji has direct access to it to print as many as he wants. »

— 44:40 — « The reason this is done in such a confusing way is because of the programming model on Solana. »

Category

Technology

Video