It is more crucial than ever to comprehend the complexities of blockchain and how it has contributed to the development of the internet in a world that is changing quickly due to technology. This post will discuss blockchain, its lengthy history, the ground-breaking idea of Web3, the rise of the Base blockchain, and the answers it provides. Lastly, we'll walk you through how to participate and begin making money in this fascinating field. Let's get started!
What is Blockchain and Web3 or Onchain?
Blockchain is an immutable, shared ledger that tracks assets and transactions over a network. These assets can be intangible (like copyrights, branding, and intellectual property) or tangible (like homes, vehicles, money, and land) or digital (like NFTs and cryptocurrencies).
The power of blockchain technology to tokenize tangible things and enable network participants to share a single, transparent understanding of reality is what makes it so magical. This gives everyone complete confidence in transactions without requiring trust since once something is recorded on the blockchain, it cannot be changed.How Blockchain Transactions Happen
Each exchange on a blockchain is documented as a piece of data. An permanent sequence takes place when these blocks join up to form a chain, hence the term "blockchain."
What is Web3 or Onchain?
The third iteration of the internet, known as Web3 or Onchain, makes the online environment more user-centered, open, and private. Let's quickly review Onchain's forerunners in order to comprehend it:
Web1 (1990s): The Web that is read-only. During this period, consumers could simply see information on the internet; interaction was nonexistent.
Web2 (2000s to Present): The Social Web with Participation. Platforms like Facebook, YouTube, and Twitter were introduced in this era, facilitating communication, creativity, and sharing. But it also presented a unique set of difficulties:
User as Product: While using free services, users were targeted by advertisements.
Censorship: Limited freedom of expression due to restrictions on uploading.
Ownership and Value: Platform owners frequently kept the majority of revenue, while content authors only received a small portion.
Web3 or Onchain (Present & Future): The Read-Write-Own Web, fueled by smart contracts and blockchain:
Ownership: Users can own digital assets, such as NFTs and other tokenized properties.
Decentralization: Large organizations lose control to individual users.
Freedom & Privacy: Centralized authority or intermediaries do not control data.
The Origin and Evolution of Blockchain
In 2008, the anonymous Satoshi Nakamoto produced a whitepaper that marked the beginning of blockchain technology. Bitcoin, a decentralized digital currency that facilitates value transmission without middlemen, was introduced in this document. Bitcoin, in contrast to conventional currency, is held in safe digital wallets and is part of the blockchain.
But as a store of value, Bitcoin's blockchain was limited to handling straightforward transactions.Ethereum: The Next Generation
Vitalik Buterin introduced Ethereum in 2015, a new blockchain that added smart contracts to go beyond what Bitcoin could do. Developers can create decentralized applications (dApps) without a central authority thanks to these blockchain-stored programs that automatically carry out agreements. Decentralized finance (DeFi), NFTs, and other blockchain applications have grown as a result of this breakthrough.
However, Ethereum encountered difficulties:Scalability: Users looked into other, less expensive blockchains like Solana because of the high transaction costs and sluggish processing times.
BASE: A Solution to Ethereum’s Challenges
Here comes BASE, a Layer-2 blockchain created by Coinbase to lower transaction costs and improve Ethereum's scalability.
Introducing BASE: A Layer-2 Solution on Ethereum
By combining several transactions into one, BASE's Optimistic Roll-Up Solution reduces the strain on Ethereum's main chain and drastically cuts expenses. This is what distinguishes BASE:
User-Focused Design: BASE seeks to offer smooth user experiences that are simple for both novice and experienced users.
Core Values: It makes project development and launch easier by giving priority to simplicity, security, and developer support.
Mission: BASE wants to accelerate blockchain adoption and innovation by onboarding Ethereum's next billion users.
How to Get Involved
Are you prepared to participate, work together, and make money in the BASE ecosystem? This is how to begin:
Watch Educational Videos: Educational films can be a great method to keep up with the fundamentals if you're ready to get started on your learning path. I strongly suggest reading itsthankk's beginner guide; it's jam-packed with insightful information and simple-to-follow instructions. Below, I've included links to some of his content so you can get started right away.
Play Video
Create a Warpcast Account on Farcaster: Make an impression on the community.
Join the BASE Community: Participate with people who share your interests by joining groups on different platforms:
Telegram: Connect with farcabase groups.
X (Twitter): Join the official base account and follow it.
Discord: For the most recent and interesting updates, follow the official base account.
What is Warpcast?
Warpcast is a client for Farcaster, a decentralized social network where you control your account. Make an account and send out public messages to become a part of a constantly expanding global community of inquisitive people.
What is Rounds?
The purpose of the Rounds platform is to monitor revenue prospects for developers and builders in the Ethereum ecosystem, specifically on Layer 2 solutions such as Base. Its main goals are to recognize innovative and technical contributions and to facilitate contributions that improve the community .
How to Earn on Rounds and Base-Build
To support Base’s mission, Rounds offers weekly incentives for builders:
Weekly Post: Share a post in the /base build channel between Friday and Monday, starting with “This week I built…” You can earn a share of 1.50 ETH per week if your work is well-received by the community.
Types of Contributions: You don’t need coding skills to participate! Rounds welcomes contributions such as:
Onboarding Content: Create guides and tutorials that excite newcomers.
Community Engagement: Write articles or design graphics that keep current users informed.
Analogy for Understanding Contributions: Imagine Base as a brand-new bakery in your community. You are urged to post something every week that connects with or promotes the bakery. Ethereum is awarded to you when members of the community enjoy the content you share!
Practical Examples of Contributions
You can create and share anything that:
Simplifies blockchain concepts to onboard new users.
Engages current users with updates, reviews, or creative content.
Writer's Contributions and Earnings
You can write tutorials, articles, or threads regarding Base and its environment as a writer. One developer, for instance, received praise and incentives from the community after sharing a Twitter post revealing a new wallet feature on Base.
Creative Writer's Impact
Base-Builds offers a special place for creative writing. For example, a made-up narrative about Base's inventor, Jesse Pollack, engaging the community and integrating new users.
Designers and Visual Creators
By producing visual elements for the Base ecosystem, designers may display their artistic abilities. For instance, creating a logo for Base players and receiving prizes for sharing it in Base-Builds.
Base-Builds Timelines and Tips
Base-Builds operates on a weekly cycle from Friday to Monday. Here’s what you need to know:
Weekly Rhythm: Submit your work between Friday and Monday to qualify for rewards.
Round Rewards: If eligible, You will receive a message from rounds in Warpcast informing you of your earnings.
Examples of Contributions from Previous Rounds
Participants have showcased diverse contributions, including:
Illustrations and animations related to Farcaster.
Creative storytelling that draws readers into the ecosystem.
Designs for products that appeal to specialized markets.
Engaging with Rounds and Collaboration
Stay engaged with the community by:
Collaborating: Work with others to enhance your ideas.
Exploring: Discover different channels to find areas of interest.
Staying Updated: Check notifications for earning announcements.
Conclusion
Basically, every ability has a home in the Base ecosystem, whether you're making animations, tools, tales, or artwork. You may make the most of your chances and establish yourself as a vital member of this fascinating blockchain community by exploring, interacting, and contributing. Thus, immerse yourself, investigate, and begin your adventure into the realm of blockchain and Onchain.