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Slides For Rural Development

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Joseph Omon
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25 views

Slides For Rural Development

Uploaded by

Joseph Omon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Demystifying Web 3 & Blockchain

Technology
EVOLUTION OF THE WEB

Web technology and the way it is used has certainly evolved over the
last few years, and each evolution has brought about new tools and
techniques. These evolutions have popularly been called Web 1.0, 2.0
and 3.0.
The evolution of the Web simply means the different phases of
INTERNET we’ve experienced. We went from Web1.0, Web2.0 to
Web3.0 which is popularly known as the next phase of internet
revolution.
EVOLUTION OF THE WEB
WEB 3 EXPLAINED

Web3 is a digital economic ecosystem in which participants


exercise greater control over their online identities,
collectively govern the organizations and commons in which
they participate, build their own assets, and own and
monetize a greater share of goods/services
Web3 gives users more control over the products they use.
The web3 ecosystem thrives on community and the value
they place on products and services.
BLOCKCHAIN TECHNOLOGY
BLOCKCHAIN TECHNOLOGY EXPLAINED

Blockchain technology is a distributed ledger technology that


records information in a way that makes it impossible to hack,
cheat or manipulate.
Blockchain technology promotes a decentralized system of
information technology. It is a trustless, permissionless,
decentralized and immutable system.
BLOCKCHAIN TECHNOLOGY
CONCEPTS IN BLOCKCHAIN
DECENTRALIZATION
Decentralization in Web3 means that, rather than relying on a single centralized server,
Web3 is built on top of blockchain-powered crypto networks that enable data to be stored
across distributed devices worldwide. Ultimately, these distributed devices can be anything,
such as computers, laptops, or even bigger servers.

They serve as the framework of the blockchain, communicating with each other to enable
the storage, spread, and preservation of data without the need for a trusted third party.

INTEROPERABILITY/PERMISSIONLESS
This means that wallets can be seamlessly taken around the internet and work with various
products and systems, allowing you to choose which decentralized apps have access to
your property. Additionally, all transactions and interactions on the blockchain are
permissionless, meaning they don’t require approval from a trusted third party to be
completed.
CONCEPTS IN BLOCKCHAIN
IMMUTABLE
Immutability means the ability of a blockchain ledger to remain unchanged, unaltered, and
indelible. Each of the blocks of information like facts or transaction details is carried out with
the help of a cryptographic principle or a hash value.

HASH
Hash refers to the output produced by a hash function after a piece of data is submitted
through it. It is associated with cryptography.

Hash is just like fingerprints. They are unique identities of every transaction

NODES
Blockchain nodes are network stakeholders and their devices authorized to keep track of the
distributed ledger and serve as communication hubs for various network tasks. A blockchain
node's primary job is to confirm the legality of each subsequent batch of network transactions,
known as blocks.
MISCONCEPTIONS ABOUT BLOCKCHAIN
The most popular misconception of Blockchain Technology is that blockchain
is cryptocurrency.
This is not true.
This misconception can be linked to the fact that bitcoin which is a
cryptocurrency happens to be the first successfully executed program on the
blockchain technology.
Bitcoin was built on the blockchain technology by Satoshi Nakomoto in 2009
and it was successful.
Blockchain Technology is much more than cryptocurrency. Blockchain is the
ecosystem that houses cryptocurrencies. That is, cryptocurrencies are built on
blockchain.
Blockchain technology is applicable to the health sector, finance, supply chain
etc.
HOW BLOCKCHAIN TECH BENEFITS YOU
1. Ease of payment
2. Career Development
3. Provision of jobs
4. Used to solve certain social problems.
STEP 1:
Download Metamask from your Playstore or Applestore
STEP 2: SET UP

● Open the MetaMask extension


and tap on `Get Started`. This
will bring you to the `Wallet
Setup` screen
● On the `Wallet Setup` screen you

will be presented with 3 options:

● `Import using seed phrase`

● `Sync with MetaMask extension`

● `Create a new wallet` ← This is

the one you want to select


STEP 3: CREATE PASSWORD

● The first step is to create your password and set up your

login settings

● MetaMask cannot reset your password for you. Check the

checkbox to confirm you understand this concept. If you

want to reset your password, you will need your seed

phase

● Create your password using a combination of upper and

lower case, numbers, and symbols. It's recommended to

use a unique password that you have not used before.

● Sign in with Biometrics? MetaMask supports biometric

authentication if enabled on your device. Decide if you

want to use biometric authentication with your MetaMask

account by switching the toggle on/off.

● When finished - tap on `Create password`

● MetaMask will now create your wallet and bring you to the

next screen in the setup process


STEP 4: Verify your seed phrase

● You are now ready to verify your seed phrase


● Tap on `View` for the seed phrase words to
appear
● Write down the 12 words in the correct order
● Tap on `Continue`
● Confirm your Seed Phrase
● Your 12 words will appear on the screen out of
order
● Tap on each word in the correct order to verify
your seed phrase
● Tap `Complete Backup` when you are done

THE END

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