# Purple Belt (1 Week) **What is Web3?** Web3 refers to an internet owned by users instead of Internet Giants such as Facebook, Apple, Amazon and Google. Below we have an article, book and podcast that you can peruse to get an overview. * Article: [Web3: in a Nutshell](https://eshita.mirror.xyz/H5bNIXATsWUv_QbbEz6lckYcgAa2rhXEPDRkecOlCOI) by Eshita Nandini * Book: [Token Economy](https://www.amazon.com/Token-Economy-Web3-reinvents-Internet-ebook/dp/B08BKSY3QZ/ref=sr_1_1?keywords=token+economy\&qid=1662084295\&sr=8-1) by Shermin Voshmgir * Podcast: [Chris Dixon and Naval Ravikant — The Wonders of Web3 And Much More](https://www.youtube.com/watch?v=DlNDYMNJ5zQ) on The Tim Ferriss Show **Why is Web3 Important?** Web3 is poised to fundamentally restructure our economy. The following resources detail how. * [Own the Internet](https://www.notboring.co/p/own-the-internet) by Packy McCormick * [The Quiet Master of Cryptocurrency](https://tim.blog/2017/06/04/nick-szabo/) — Nick Szabo on The Tim Ferriss Show * [Crypto Tokens: A Breakthrough in Open Network Design](https://cdixon.org/2017/05/27/crypto-tokens-a-breakthrough-in-open-network-design) by Chris Dixon * [Crypto Tokens: A Breakthrough in Open Network Design](https://cdixon.org/2017/05/27/crypto-tokens-a-breakthrough-in-open-network-design) by Chris Dixon * [The Ownership Economy 2022](https://li.substack.com/p/the-ownership-economy-202) by Li Jin * [Composability is the Most Powerful Creative Force in the Universe](https://medium.com/building-the-metaverse/composability-is-the-most-powerful-creative-force-in-the-universe-e82e3dd83ccd) by Jon Radoff * [Understanding Web 3 — A User Controlled Internet](https://blog.coinbase.com/understanding-web-3-a-user-controlled-internet-a39c21cf83f3) by Emre Tekisalp * [Chain Reactions: How Creators, Web3, and the Metaverse Intersect](https://digitalnative.substack.com/p/chain-reactions-how-creators-web3) by Rex Woodbury **How does Web3 Work?** We’ve already covered some of the basics of how “blockchains” work, but let’s take a deeper dive… * Ethereum – The World Computer: [The Ethereum Whitepaper](https://ethereum.org/669c9e2e2027310b6b3cdce6e1c52962/Ethereum_Whitepaper_-_Buterin_2014.pdf) by Vitalik Buterin, [How does Ethereum work, anyway?](https://preethikasireddy.medium.com/how-does-ethereum-work-anyway-22d1df506369) By Preethi Kasireddy, [Ethereum Will Be the Backbone of the New Internet](https://medium.com/loom-network/ethereum-will-be-the-backbone-of-the-new-internet-88718e08124f) by James * Digital Ledgers: [The Blockchain Economy: A beginner’s guide to institutional cryptoeconomics](file:///D:/MTG%20Consulting/Anki/Web3_WTF/Resources/%C2%A7https:/medium.com/cryptoeconomics-australia/the-blockchain-economy-a-beginners-guide-to-institutional-cryptoeconomics-64bf2f2beec4) by Chris Berg, Sinclair Davidson and Jason Potts * The Byzantine General’s Problem: [Distributed Systems 2.2: The Byzantine generals problem](https://www.youtube.com/watch?v=LoGx_ldRBU0) by Martin Kleppmann * Hash Functions: [What is a Cryptographic Hashing Function? ](https://www.youtube.com/watch?v=gTfNtop9vzM) By Whiteboard Crypto * Blockchains: [WTF is The Blockchain?](https://hackernoon.com/wtf-is-the-blockchain-1da89ba19348) By Mohit Mamoria * Digital Key Cryptography: [A Beginner’s Guide: Private and Public Key Cryptography Deciphered](file:///D:/MTG%20Consulting/Anki/Web3_WTF/Resources/%C2%A7%20%20https:/medium.com/coinmonks/private-and-public-key-cryptography-explained-simply-4c374d371736) by Chris Coverdale * Proof of Stake: [What is Staking in Crypto? ](https://www.youtube.com/watch?v=vZ2UZdB07fo) By Whiteboard Crypto * Mining Pools: [What is a Mining Pool in Crypto? ](https://www.youtube.com/watch?v=6JytuGeMnKU) By Whiteboard Crypto * Smart Contracts: [What are Smart Contracts in Crypto? ](https://www.youtube.com/watch?v=pyaIppMhuic) By Whiteboard Crypto * Gas: [What is Ethereum Gas? ](https://www.youtube.com/watch?v=3ehaSqwUZ0s) By Whiteboard Crypto **What are Cryptocurrencies?** Cryptocurrencies represent the potential to a “borderless” currency that doesn’t rely on central banks * Overview: [The Moneyness of Bitcoin and Ethereum](https://newsletter.banklesshq.com/p/the-moneyness-of-bitcoin-and-ethereum) by Ryan Sean Adams * Money: [What is Money?](https://www.investopedia.com/insights/what-is-money/) by Investopedia * Bitcoin: [#8 Reasons Why Bitcoin is Better than Conventional Currency](https://www.entrepreneur.com/article/292103) by Vishal Gupta * Ether: [The Triple Point Asse](https://newsletter.banklesshq.com/p/ether-a-new-model-for-money)t by David Hoffman * Stablecoins: [Designing a Price-Stable Cryptocurrency](https://medium.com/hackernoon/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5) by Haseeb Qureshi **What is DeFi?** DeFi, or Decentralized Finance, refers to a global, peer-to-peer network that is built to replace the traditional banking system * Overview of DeFi: [A Beginner’s Guide to Decentralized Finance (DeFi)](file:///D:/MTG%20Consulting/Anki/Web3_WTF/Resources/ohttps:/blog.coinbase.com/a-beginners-guide-to-decentralized-finance-defi-574c68ff43c4) by Sid Coelho-Prabhu * Stablecoins: Fiat-backed Stablecoins: [What is Tether?](https://www.youtube.com/watch?v=cK8bAA6H5PY) By Whiteboard Crypto, Crypto-backed Stablecoins: [What’s MakerDAO and what’s going on with it? Explained with pictures](file:///D:/MTG%20Consulting/Anki/Web3_WTF/Resources/%C2%A7https:/hackernoon.com/whats-makerdao-and-what-s-going-on-with-it-explained-with-pictures-f7ebf774e9c2) by Kerman Kohli, Algorithmic Stablecoins: [3 Stablecoin Algorithms Explained (Rebase, Empty Set Dollar, Basis Cash, Iron Finance)](https://www.youtube.com/watch?v=S7-rfvpEpJs) by Whiteboard Crypto * Decentralized Exchanges: [What is an Automated Market Maker?](https://www.youtube.com/watch?v=1PbZMudPP5E\&t=323s) By Whiteboard Crypto, [What is Uniswap?](https://www.youtube.com/watch?v=DLu35sIqVTM) By Whiteboard Crypto * Lending and Borrowing: DeFi Series #1 - [Decentralized Cryptoasset Lending & Borrowing](https://research.binance.com/en/analysis/decentralized-finance-lending-borrowing) by Binance Research (Calvin & Etienne), [What is Aave? ](https://www.youtube.com/watch?v=dTCwssZ116A) By Whiteboard Crypto * Insurance: [Why insurance is needed for DeFi, and what it looks like](https://cryptoslate.com/why-insurance-is-needed-for-defi-and-what-it-looks-like/) by Shane Neagle * Derivatives: [Crypto Derivatives, Lending, and a touch of Stablecoin](https://hackernoon.com/crypto-derivatives-lending-and-a-touch-of-stablecoin-59e727510024) by Gary Basin * Yield Farming: [What is Yield Farming?](https://www.youtube.com/watch?v=LaeI5D6NDvw) By Whiteboard Crypto, [What is Impermanent Loss?](https://www.youtube.com/watch?v=_m6Mowq3Ptk) By Whiteboard Crypto, [What is a Liquidity Pool?](https://www.youtube.com/watch?v=dVJzcFDo498) By Whiteboard Crypto * Flash Loans: [What is a Flash Loan?](https://www.youtube.com/watch?v=YiF6x193fRk) By Whiteboard Crypto * Money Legos: [The True Power of DeFi: Composability](file:///D:/MTG%20Consulting/Anki/Web3_WTF/Resources/ohttps:/medium.com/coinmonks/the-true-power-of-defi-composability-14fe8355e0d0) by Oxjim * DeFi 2.0: [DEFI 2.0 - A New Narrative? OlympusDAO, Tokemak Explained](https://www.youtube.com/watch?v=l0vRTi8_FRk) by Finematics, [What is OlympusDAO? ](https://www.youtube.com/watch?v=o699i_l_qy8) By Whiteboard Crypto * DeFi Exploits: [How (Not) To Get Rekt – DeFi Hacks Explained](https://finematics.com/defi-hacks-explained/) by Jakub, [Bank Run in DeFi](https://www.youtube.com/watch?v=HUokre-szPg) by Finematics **What are NFTs?** For the first time in our history, NFTs allow us to truly own the content we post online. The following resources discuss this fascinating space in more detail: * Overview of NFTs: [The Non-Fungible Token Bible: Everything you need to know about NFTs](https://opensea.io/blog/guides/non-fungible-tokens/#What_is_a_non-fungible_token) by Devin Finzer * Why are NFTs Important: [The Bull Case for NFTs](https://newsletter.banklesshq.com/p/the-bull-case-for-nfts-jake-burkhman) by Jake Burkhman & Andrew Steinwold, [Signaling as a Service](https://julian.digital/2020/03/28/signaling-as-a-service/) by Julian * Art: [Rise Of A New Disruptor: How NFTs Are Revolutionizing The Art And Entertainment Worlds](https://www.forbes.com/sites/forbesbusinesscouncil/2021/09/07/rise-of-a-new-disruptor-how-nfts-are-revolutionizing-the-art-and-entertainment-worlds) by Michael Golomb * PFPs: [10 things to know about CryptoPunks, the original NFTs](https://www.christies.com/features/10-things-to-know-about-CryptoPunks-11569-1.aspx) by Christie’s, [How Four NFT Novices Created a Billion-Dollar Ecosystem of Cartoon Apes](https://www.rollingstone.com/culture/culture-news/bayc-bored-ape-yacht-club-nft-interview-1250461/) by Samantha Hissong * Sports: [What is NBA Top Shot? Explaining the Blockchain NBA highlight collectables](https://ca.nba.com/news/what-is-nba-top-shot-explaining-the-blockchain-nba-highlight-collectables/18nram5ye1ub01hres3lkk3xvd) by Kyle Irving * Virtual Worlds: [Are We in the Metaverse Yet?](https://www.nytimes.com/2021/07/10/style/metaverse-virtual-worlds.html) By John Herrman and Kellen Browning * Gaming: [How Gamers are Making a Living: A Case Study on Axie Infinity](https://www.coingecko.com/buzz/how-gamers-are-making-a-living-a-case-study-on-axie-infinity) by Benjamin Hor * Utility: [Not just for kitties, punks, and top shots: NFTs will change everything we know about subscriptions, membership, licensing](https://mattgalligan.com/membership-nfts/) by Matt Galligan * Intellectual Property: [NFTs Reshape Brand Marketing In The Creator Economy](https://www.forbes.com/sites/avidan/2021/09/13/nfts-reshape-brand-marketing-in-the-creator-economy/?sh=34e3a508da2d) by Avi Dan * Music: [Here's what NFTs are — and what they could do for the music industry, artists and fans](https://www.nbcnews.com/think/opinion/what-are-nfts-what-could-they-do-music-industry-artists-ncna1261205) by Mikel Jollett, lead singer, Airborne Toxic Event, and author, "Hollywood Park" * Financialization of NFTs: [Road to Financialization of NFTs](https://medium.com/iosg-ventures/road-to-financialization-of-nfts-145f3829dfdf) by Ishanee Nagpurkar **What are DAOs?** A DAO is a blockchain-based organization that may replace the modern corporation. Unlike a traditional corporation, no single person or group owns or controls a DAO. Below are several resources that can help you understand this groundbreaking concept better: * Why are DAOs Important? [DAOs: Social networks that can rewire the world](https://blog.coinbase.com/daos-social-networks-that-can-rewire-the-world-128b73732547) by Justin Mart & Connor Dempsey * DAO Landscape: [DAO Landscape](https://coopahtroopa.mirror.xyz/_EDyn4cs9tDoOxNGZLfKL7JjLo5rGkkEfRa_a-6VEWw) by Coopahtroopa * Investment DAOs: [What Is BitDAO and BIT Token?](https://learn.bybit.com/altcoins/what-is-bitdao/) By Bybit Learn * Charity DAOs: [Philanthropy DAOs — The future of giving?](https://medium.com/impact-shakers/philanthropy-daos-the-future-of-giving-608cc7a829b4) By Yonca Braeckman * Collector DAOs: [ConstitutionDAO Hits $30M in Ethereum Raised, One Day Before Sotheby’s Auction](https://decrypt.co/86359/constitutiondao-hits-30m-ethereum-raised-one-day-before-sothebys-auction) by Kate Irwin * Media DAOs: [Will DAOs revolutionize media or just create a playground for the rich?](https://techcrunch.com/2021/11/21/will-daos-revolutionize-media-or-just-create-playgrounds-for-the-rich/) By Leigh Cuen * Service DAOs: [Service DAOs - Landscape, Challenges, and Solutions](https://medium.com/1kxnetwork/service-daos-landscape-challenges-and-solutions-b1af1a212ea) by Terry Chung * Social DAOs: [This Social Club Runs on Crypto Tokens and Vibes](https://www.nytimes.com/2022/03/02/technology/friends-with-benefits-crypto-dao.html) by Erin Woo and Kevin Roose * DAO Tooling: [Organization Legos: The State of DAO Tooling](https://medium.com/1kxnetwork/organization-legos-the-state-of-dao-tooling-866b6879e93e) by Nichanan Kesonpat * How to DAO: [How to launch a DAO](https://newsletter.banklesshq.com/p/how-to-launch-a-dao) by Lucas Campbell, [What Is It Like to Join a DAO?](https://blog.aragon.org/what-is-it-like-to-join-a-dao/) By Aragon, [The Life of a Protocol Politician](https://newsletter.banklesshq.com/p/the-life-of-a-protocol-politician) by Coopahtroopah * Legal Considerations: [A Legal Framework for Decentralized Autonomous Organization by David Kerr (Principal, Cowrie LLC) and Miles Jennings](https://a16zcrypto.com/wp-content/uploads/2022/06/dao-legal-framework-part-1.pdf) (General Counsel, Crypto, Andreessen Horowitz), [The LAO: A For-Profit, Limited Liability Autonomous Organization](https://medium.com/openlawofficial/the-lao-a-for-profit-limited-liability-autonomous-organization-9eae89c9669c) by The LAO **What are Smart Contract Platforms?** Smart Contract Platforms are “world computers” that serve as the operational layer of Web3. Below are several resources that describe this phenomenon in more detail: *Smart Contract Platform Landscape:* * [The Smart Contract Platform Sector Explained](https://www.coindesk.com/markets/2022/08/02/the-smart-contract-platform-sector-explained/) by Jodie Gunzberg * [Layer-1 Platforms: A Framework for Comparison](https://www.tbstat.com/wp/uploads/2021/08/20210811_Layer1Platforms_TheBlockResearch.pdf) by The Block Research * [Mental Models for L1 and L1](https://mirror.xyz/0xaFaBa30769374EA0F971300dE79c62Bf94B464d5/k8Fr68ELdjIwJpGPpag_dnUarnypD5IUahpp6wT0qmk) by Patrick McCorry *Scalability:* * [Blockchains don’t scale. Not today at least. But there’s hope](https://www.preethikasireddy.com/post/blockchains-dont-scale-not-today-at-least-but-theres-hope) by Preethi Kasireddy * [Modular vs Monolithic Blockchains](https://shows.banklesshq.com/p/modular-vs-monolithic-blockchains) by Ryan Sean Adams and David Hoffman * [The DCS Triangle](https://blog.bigchaindb.com/the-dcs-triangle-5ce0e9e0f1dc) by Trent McConaghy * [Blockchain Layer 1s Vs Layer 2 – Key Differences](https://101blockchains.com/blockchain-layer-1-vs-layer-2/) by Georgia Weston * [Proof of Work vs. Proof of Stake: Ethereum’s Recent Price Surge Shows Why the Difference Matters](https://time.com/nextadvisor/investing/cryptocurrency/proof-of-work-vs-proof-of-stake/) by Miranda Marquit * [What is Sharding in Crypto?](https://www.youtube.com/watch?v=SZpjvWMfgDA) By Whiteboard Crypto * [What are Rollups in Crypto?](https://www.youtube.com/watch?v=6_nOYsvXMsE) By Whiteboard Crypto * [What are Sidechains in Crypto?](https://www.youtube.com/watch?v=cFRj2-jzm8E) By Whiteboard Crypto *Layer 1s:* * [Ethereum 2.0 Upgrades Explained - Sharding, Beacon Chain, Proof of Stake](https://www.youtube.com/watch?v=pycVClxWUN8) by Whiteboard Crypto * [Solana: Solana Summer](https://www.notboring.co/p/solana-summer) by Packy McCormick * Terra: [Terra: To the Moon and Back](https://www.notboring.co/p/terra-to-the-moon-and-back) by Packy McCormick * Avalanche: [What Is Avalanche? A Look at the Popular ‘Ethereum-Killer’ Blockchain](https://www.coindesk.com/learn/what-is-avalanche-a-look-at-the-popular-ethereum-killer-blockchain/) by Ekin Genç *Layer 2s:* * [Layer 2 Scaling Solutions Explained](https://www.youtube.com/watch?v=9pJjtEeq-N4) by Whiteboard Crypto * [A beginner’s guide on blockchain layer-2 scaling solutions](https://cointelegraph.com/blockchain-for-beginners/a-beginners-guide-on-blockchain-layer-2-scaling-solutions) by Cointelegraph * [Optimism](https://www.notboring.co/p/optimism) by Packy McCormick * [Zero Knowledge](https://www.notboring.co/p/zero-knowledge) by Pack McCormick * [Understanding Zero-knowledge proofs through illustrated examples](https://blog.goodaudience.com/understanding-zero-knowledge-proofs-through-simple-examples-df673f796d99) by OxSage * [The Essential Guide to Arbitrum](https://newsletter.banklesshq.com/p/the-essential-guide-to-arbitrum) by Ben Give **What is the Metaverse?** The metaverse is an interconnected network of virtual worlds that will replace the web as the primary way in which we access information. Read below to learn more: * Overview of the Metaverse: [Metaverse: A guide to the Next-Gen internet](https://www.credit-suisse.com/media/assets/corporate/docs/about-us/media/media-release/2022/03/metaverse-14032022.pdf) by Credit Suisse , [The Metaverse: Web 3.0 Virtual Cloud Economies](https://grayscale.com/wp-content/uploads/2021/11/Grayscale_Metaverse_Report_Nov2021.pdf) by Grayscale * Why is the Metaverse Important? [The Value Chain of the Open Metaverse](https://www.notboring.co/p/the-value-chain-of-the-open-metaverse) by Packy McCormick * Virtual Worlds: [Riffs by Raph: How Virtual Worlds Work - Part 1](https://www.playableworlds.com/news/riffs-by-raph:-how-virtual-worlds-work-part-1/) by Raph Koster * Otherside: [Otherside: Everything to Know About the New BAYC NFT Project](https://nftnow.com/guides/otherside-everything-you-need-to-know/) by Langston Thomas * Decentraland: [ Decentraland: Metaverse Land Boom Fueling MANA Token Growth](https://grayscale.com/wp-content/uploads/2021/12/Grayscale-Decentraland.pdf) by Grayscale * Sandbox: [What is The Sandbox](https://medium.com/sandbox-game/what-is-the-sandbox-850de68d893e) by The Sandbox * Virtual Economies: [The Virtual Economy](https://atelier.net/virtual-economy/) by L-Atelier * Identity: [Stay for Who You Can Be: Avatars in the Metaverse](https://digitalnative.substack.com/p/stay-for-who-you-can-be-avatars-in) by Rex Woodbury **What is Web3s Infrastructure?** The infrastructure of Web3 will differ from what we are used to today. Below are several resources detailing the core components of this new world: * Overview of Web3 Infrastructure: [The Architecture of a Web 3.0 application](https://www.preethikasireddy.com/post/the-architecture-of-a-web-3-0-application) by Preethi Kasireddy, [A simple guide to the web3 developer stack](https://blog.coinbase.com/a-simple-guide-to-the-web3-developer-stack-8364b612d69c) by Jonathan King, Connor Dempsey, & Hoolie Tejwani * Decentralized Internet: [Will Helium finally make IoT a reality?](https://www.preethikasireddy.com/post/will-helium-finally-make-iot-a-reality) By Preethi Kasireddy * Wallets & Identity: [An Overview of the Crypto Wallet Landscape](https://thecontrol.co/an-overview-of-the-crypto-wallet-landscape-533a18bcd124) by Richard Chen, [Your crypto wallet is the key to your Web3 identity](https://cointelegraph.com/news/your-crypto-wallet-is-the-key-to-your-web3-identity) by Michael Calce, [Mapping the Web3 Identity Landscape](https://mirror.xyz/dommy.eth/YsZmPZUxs4LsS-sS0APg25LJiFxOBnCibj2gzXFX98c) by dommy.eth * Providers: [What is Infura?](https://decrypt.co/resources/what-is-infura) By Tim Copeland, [Pocket Networks Investment Thesis](https://www.edenblock.com/post/eden-blocks-investment-thesis-for-pocket-network) by Dermot O’Riordan and Lior Messika * Decentralized Storage: [Web3 Storage — Massive Growth and Capital Gains with Arweave, Filecoin and Stratos](https://medium.com/huobi-research/web3-storage-massive-growth-and-capital-gains-with-arweave-filecoin-and-stratos-18d7fa210e99) by Huobi Research, [An Introduction to Filecoin by Grayscale](https://grayscale.com/wp-content/uploads/2021/05/grayscale-building-blocks-filecoin-march-2021.pdf), [Investing in the Permaweb](https://multicoin.capital/2019/11/05/investing-in-the-permaweb/) by Kyle Samani * Querying[: Our investment in The Graph](https://multicoin.capital/2019/01/28/our-investment-in-the-graph/) by Kyle Samani * Oracles: [What is the Blockchain Oracle Problem?](https://blog.chain.link/what-is-the-blockchain-oracle-problem/) by Chainlink, [Blockchain Oracles Explained](https://academy.binance.com/en/articles/blockchain-oracles-explained) by Vallery Mou, [An Introduction to Chainlink](https://grayscale.com/wp-content/uploads/2021/08/grayscale-building-blocks-chainlink-august-2021.pdf) by Grayscale * Shared Compute: [Rendering the Metaverse](https://multicoin.capital/2021/12/21/rendering-the-metaverse/?mc_cid=c486a1a84c\&mc_eid=d0029248a1) by Kyle Samani * Bridges: [Blockchain Bridges: Building Networks of Cryptonetworks](https://medium.com/1kxnetwork/blockchain-bridges-5db6afac44f8) by Dmitriy Berenzon **What are the Challenges Faced by Web3?** Like any disruptive technology, Web3 has its problems. The below articles discuss in more detail: * High Fees: [Yes, Ethereum has a Gas Problem](https://seekingalpha.com/article/4471627-yes-ethereum-has-gas-problem) by Mike Fay * Volatility: [What Skeptics Get Wrong About Crypto’s Volatility](https://hbr.org/2022/07/what-skeptics-get-wrong-about-cryptos-volatility) by Omid Malekan * Environmental Concerns: [Is Bitcoin Inherently Bad For The Environment?](https://www.forbes.com/sites/joshuarhodes/2021/10/08/is-bitcoin-inherently-bad-for-the-environment/?sh=27662d6d3033) By Joshua Rhodes, [FACT CHECK: Is Bitcoin mining environmentally unfriendly?](https://blog.coinbase.com/fact-check-is-bitcoin-mining-environmentally-unfriendly-3559823af6f1) By Coinbase, [Bitcoin mining isn’t nearly as bad for the environment as it used to be, new data shows](https://www.cnbc.com/2021/07/20/bitcoin-mining-environmental-impact-new-study.html) by MacKenzie Sigalos * Interoperability: [The Interoperability Trilemma](https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17) by Arjun Bhuptani, [Blockchains Have a ‘Bridge’ Problem, and Hackers Know It](https://www.wired.com/story/blockchain-network-bridge-hacks/) by Lily Hay Newman * MEV: [Miner Extractable Value: the good, the bad & the ugly](https://blog.pantherprotocol.io/miner-extractable-value-the-good-the-bad-the-ugly/) by Panther Team * User Experience: [I think there is a User Experience problem in Web3](https://medium.com/@Jowho/i-think-there-is-a-user-experience-problem-in-web3-20942d2773e5) by Mentie Omotejowho * Crime: [The Chainalysis 2022 Crypto Crime Report](https://go.chainalysis.com/rs/503-FAP-074/images/Crypto-Crime-Report-2022.pdf) by Chainalysis **What are the Criticisms of Web3?** Web 3 is not without its critics. Read some of the more popular detractors (as well as a few rebuttals) below: * [My first impressions of web3](https://moxie.org/2022/01/07/web3-first-impressions.html) by Moxie Marlinspike (Rebuttal: Vitalik Buterin via [Reddit](https://www.reddit.com/r/ethereum/comments/ryk3it/comment/hrrz15r/) ) * [Web3](https://www.profgalloway.com/web3/) by Scott Galloway (Rebuttal: [The Web3 Debate](https://www.notboring.co/p/the-web3-debate) by Packy McCormick) * [Line Goes Up – The Problem with NFTs](https://www.youtube.com/watch?v=YQ_xWvX1n9g) by Folding Ideas (Rebuttals: [Discussing the "Line Goes Up" NFT criticism video](https://www.loop-news.com/p/discussing-the-line-goes-up-nft-criticism?r=a5ivn\&utm_campaign=post\&utm_medium=web) by Loopify and [The line is not a line – the real problem with NFTs](https://www.youtube.com/watch?v=LbC_EuvBnAw) by The Defiant) **What are Pundits Predicting for Web3?** There is no shortage of Web3 coverage by analysts and VCs. Read some of the more popular reports below: * [Introducing the 2022 State of Crypto Report](https://a16zcrypto.com/state-of-crypto-report-a16z-2022/) by a16z Crypto (by Daren Matsuoka, Eddy Lazzarin, Chris Dixon and Robert Hackett) * [Crypto Thesis for 2022](https://messari.io/pdf/messari-report-crypto-theses-for-2022.pdf) by Messari --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://www.digitalnations.xyz/resources/web3-university/purple-belt-1-week.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. 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