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Web3 Principles

Crypto | Games | Mind Map

A network where intentions flow into actions with predictable outcomes.

Censorship resistance through cryptography and decentralisation provide foundations of the Verifiable Web.

Primitives​

Open Source 24/7/365 innovation.

Building Blocks​

Innovate at the edges.

Impact​

  • Payment Guarantee

Why Crypto Matters?​

Capital Formation around generative technology in an arena for playing cooperative games.

A distributed database that is kept up to date across multiple computers where a historical data (chain) cannot be altered and new transactions processed only after consensus of the network.

A block stores the state of data after a each transaction where special data types store:

  1. Monetary Value
  2. Ownership

The last block has current Money balance with logic Logic to manage conditional value transfer.

The rules making transactions of value are written in Smart Contracts.

Each transaction costs a Gas fee.

It costs money to for people to run the decentralised network of computers. So each transaction has gas fee which is paid as incentive to those providing a machine to provide a node in the network.

Store of Value​

The purpose of capital is to organise the tranformation of materials and relocation of products for accessibilty by customers.

Are tokens branded money?

  • Chain Native
  • Tokens (ERC20)
  • NFT

Latency is Money​

https://hackmd.io/@dataalways/latency-is-money

Defintions​

Community Building Tools