A DAO is an online organization run by rules written in code, not by a boss or company.
It gives users the opportunity to have a say in decision making.
A DAO runs on smart contracts on the blockchain. Members hold tokens which gives them the right to vote on decisions.
#Web3
One thing most people don’t know is that blockchains cannot access data on their own. That’s where Chainlink comes in.
Chainlink helps blockchains get real data like prices, & events. Without Chainlink, many DeFi apps would not work properly. It is a very important tool in Web3.
Day 7 of learning Web3 🚀
The major difference between Web2 and Web3: In Web2, companies own platforms and control user accounts.
In Web3, users own wallets and control their assets.
Web3 matters because it is permissionless you don’t need approval from anyone.
#Web3Beginner
@KuleKemet@Khanstillday Your first sentence is very wr_ong. You need God to succeed. You can never do it on your own. As for those who fail, satan does not overpower God. It's just that faith without work is useless. So while you're hoping on God to do it for you, you should also do your part.
Everyone in Web3 talks about consistency
“Post every day.”
“Stay active onchain.”
“Keep building.”
But nobody talks about how hard it is to stay
consistent when:
➜ the market is quiet
➜ your posts aren’t doing numbers
➜ opportunities feel dry
➜ everyone else looks like they’re winning
That’s where most people disappear
I used to think consistency in Web3 was about discipline or grinding harder but it’s not.
Day 6 of learning Web3.
Today I learned about DeFi (Decentralized Finance).
DeFi simply means exploring finance without being under any authority.
With DeFi, you can: lend money, borrow money & trade tokens.
Everything is controlled by smart contracts, not people.
Day 5 of learning Web3 🚀
Today I learned that crypto wallets come in different types.
Hot wallets are connected to the internet.
Cold wallets are offline and safer for long term storage.
Your wallet gives you full ownership of your tokens, not any app or platform.
#Web3Beginner