CoinDCX: Evaluating Web3 Projects Deep Dive
In this in-depth study, we will be taking a deep-dive into the Web3 universe: How Web3 changes the landscape of the internet, researching Web3 projects, relevance of project fundamentals & much more…
Web3 & its ever-evolving landscape 🌅
If I have to put in the definition of Web3 in the most simplest of terms, I will sum up Web3 by associating it with three characteristics:
Just a few examples of Web3 coins: GARI, SOL, AUDIO, GMT, MANA, RUNE, SKALE, UNI, JASMY (all available to trade on CoinDCX)
Web3 has clearly turned out to be the new sensational buzzword of the internet, that has caught the attention 👀 of every ‘Crypto Enthusiast’ lurking in the wild. So does the Web3 hype truly deserve the recognition and fan-fare? Let’s find out 🔍…
So much is the hype around the buzzword, that crypto maximalists have fallen head-over-heels in love with everything that Web3 has to offer. Social media influencers, Celebrities, Public figures, Venture Capitalists are all on absolute fire 🔥
With the dawn of Web3, there has been a tsunami 🌊 of educational content on every social media channel, be it Twitter, FaceBook (Meta), Apple Podcasts, Reddit /r communities, Discord servers, Medium articles or YouTube videos; The very viral existence of Web3 took place in the last 1 year of the crypto bull-run and has only exposed people to use Web3 interchangeably with the term ‘Metaverse’. Retail traders are still ignoring the plethora of offerings that comes under the Web3 umbrella ☂ & they are as far-and-wide as the oceans of the internet, so the Metaverse is just a single drop of water within this vast ocean. Yes, that’s the sheer SIZE we are discussing here.
So what exactly is Web3?
Putting it in layman terms, Web3 is the fully decentralised & permissionless version of the current internet that we call Web2. Currently within the realm of our existing Web2 stage of the internet, there is an end-consumer—which is YOU. Now in the entire data exchange, You end up being the by-product and Your private data becomes THE ULTIMATE product. In the realm of Web3— the consumer is the rightful owner of their unique data, starting from the beginning to the end of the data exchange process.
Let me explain with examples- Say you are uploading videos on YouTube, now YouTube is a completely free service and the creator just uploads the video and all server requirements for storage is seen by YouTube and they go further beyond with making your content reachable to the audience. Sounds absolutely fantastic? Not really…YouTube has been plagued in the recent times with curbing free-speech of the creators, creators videos being Demonetised ⛔️, flagged as potentially harmful content ⚠️ and some creators have just had their entire channels terminated. The hilarious side of this entire story has to be that fact, that all this atrocities have happened with majority of Crypto channels on the platform, some of them were just creating honest educational content for the space (I agree there would always be the presence of a few bad actors in the space, but I am specifically talking about the majority of creators who put their best foot-forward to educate the masses).
On the other hand, we will take the example of the Chingari app- A project built on the Solana blockchain, it is a truly decentralised social media platform. The entire creator-economy of the platform has been created keeping the content creators best-interest in mind. This is the Web3 way forward. Decentralisation of resources instead of dictatorship and monopoly.
Lets dive into another Social Media platform that hides behind the illusion of free services- Facebookas a service is “FREE”:
No sign-up costs
No cloud storage tiers for uploading pictures / video
No service charge of connecting with friends through messaging services or for the utilisation of its other services
All the games hosted on the platform are Free-2-Play (FarmVille, Zynga Poker), listing items on the Facebook marketplace, brand page creation etc — All Free…
plus, there are no micro-transactions for day-to-day use.
Wow! Sounds great right 🥳? Wrong, YOUR DATAis the ULTIMATE product for Facebook! Your personal information, your internet browsing history, your likes and dislikes, are all SALEABLE DATA to Facebook and they do sell these data metrics to advertisers for relevant ad targeting. That is how Facebook makes their Billions of dollar 💸 YoY and keeps every service offering in its kitty behind the veil of “Free-to-Use”. There is a reason why Apple’s recent iOS 15 tracking limiting feature has costed Facebook astronomical losses in share prices as well as investor confidence. More privacy, lesser data to sell.
With the dawn of Web3, we are welcoming the era of cutting out the middleman from the whole equation. DApps running on the blockchain operate within a completely decentralised environment and every information a user puts out there is wholly owned by the user themselves. No prying eyes here. There is not even a fraction of users private- data that could be monetised or be made available for sale to a third-party entity, that’s the beauty of it. The actual ownership of data lies with the users who put that data out there.
The term Web3 was coined by Ethereum co-founder and Polkadot creator Gavin Wood back in 2014.
Web 3: The Enabler of the Metaverse🪐⚡️🌎
As I have previously mentioned in the previous part of this article, Web3 is the ultimate bridge that goes all out in enabling the power of the Metaverse, and truly, the Metaverse will be the next level of how we interact with the internet and interact with the virtualisation it brings to the forefront. The deeper you follow the Web3 rabbit hole 🕳 , the more crazier the subjects & it’s reach gets 🤯
Lets us imagine the Metaverse through an example of a game — In the Metaverse, you are now able to play a FPS (First Person Shooter), but instead of how you just play with a console remote— you can now start feeling the weight of the gun, the moving metal parts, the resistance of the trigger according to the class of the gun, the recoil during shooting and literally feeling your enemies bullets zipping past you. Sounds surreal?
Well it might, but it is not and it will not remain wishful thinking for a very long time. The Metaverse is going to be everyones virtual playground in the very near future and every company worth its salt is jumping on the bandwagon and pouring their Millions, from Adidas to Nike, Sony Interactive Computer to Louis Vuitton, they all want their share of the pie.
image source: Cnet
Facebook has even gone ahead and changed their entire branding to Meta and they have already started opening doors to their new Meta physical stores. This is how GARGANTUAN 🦍 the Metaverse experience will be, and this is all being made possible through the power of Web3
I honestly feel that the Metaverse will be a part of singular structure and every virtual ecosystem will provide an unique experience of its own. Visualise it as going to different cities in the real World and experiencing the uniqueness of their culture, but at the end they all remain a part of Earth. Jumping from one game to another will give the feels of teleportation… The Metaverse will evolve from a place in time and extend beyond the traditional boundaries we are currently used to.
Economies going digital- The whole Decentralised economy will also bring in a new era of micro-transactions, but in a more sophisticated way. Currently, a few games on the Playstation already have micro-transactions in place, where players can buy certain upgrades through real-world fiat currency. In the Metaverse it will be different, users will have their crypto wallet perpetually connected to their digital avatar, and go on a shopping spree within a digital simulation or they can just enter into a Metaverse FPS game environment and buy tons of ammunition, protective gears and limited-edition weapons to knock-out their opponent cold. All this will be done not through Fiat currency, but through the digital ecosystems native token.
This is absolutely going to be the new era of gaming and with gaming consoles becoming more powerful, I cannot wait to see what we are served with…The most insane level of gaming virtualisation & the coming together of the internet, with Web3 acting as the ultimate bridge.
Superiority of Web3 over Web 2
Ownership lies with the owners
Like I have mentioned above, every social media platform in existence owns their users data and thus have the power to ban, mute or terminate any account according to their own judgement. This will be the total opposite in the Web3 ecosystem because creators will fully own their content and the content will reside on the blockchain.
Taking the example of Twitch streamers in Russia, who were using the platform for their regular income. The war situation between Russia & Ukraine, as well as the escalation of political tension between Russia & other nations, led Twitchto take a stand and block off all payments to Russian streamers indefinitely. An absolute destruction of a creator economy. One wrong move by a government, and the price is being paid by the citizens of the country. This situation would never arise if the creator platform was decentralised and hosted on a blockchain. Centralisation of power will always yield bad results.
Payment system: There have been numerous instances where PayPal has banned accounts of users for no major violations. Private banks transfer funds of user only after collecting a truck load of customer data, Data leaks are a common occurrence with major banking players now, also we have witnessed a surge 📈 in the number of credit card information hacks which has now become widespread and notorious within the payment industry. Again, you & your information is FOR SALE!
All of the above drawbacks are now being eliminated through the whole transition from Web2 to Web3. Crypto has always been available 24x7, your money is in your power and you don’t have to answer ridiculous question on transfer of your own funds within crypto. There is complete elimination of the middleman here, just a Sender-Receiver and their corresponding wallet addresses is all that is needed to execute transactions.
Through the rise of the Web3 ecosystems, we have also got to witness the dawn of an absolutely new income stream in the form of P2E (Play-to-Earn). Who would have thought 5 years back, that playing video games can actually earn you a handsome income? Not me at least.
Take the example of a project like Star Atlas — it has propelled the P2E space into something else altogether, it has enabled players to earn a living by playing the game. Question yourself on how the same model would have been possible on Web2, when the entire game platform, the game itself & other developments are in control of a single entity.In present times, we as users are still paying money to play games and are also being served with intrusive advertisements. Centralisation = Corporate Greed.
Network security: Remember, very recently, Facebook, Instagram, Messenger & Whatsapp all suffered a outage & downtime, resulting in Facebook (now Meta) losing Millions in stock value? This happened because of the servers being centralised and that caused a ripple effect to all the other services of Facebook.
In the same context, servers of big player apps, banking apps, centralised cloud servers; all could go down and affect user in multiple ways, but Web3 servers going down have very little chances, as they have been structured on a decentralized network mesh with thousands of computers acting as their backend support.
Web3 is in at the very nascent stages of its development and there is a lot of room for improvement at every stage. We can talk about this topic and it’s offerings at length— the fact about the cutting-edge virtual world we will get to experience through the Metaverse, but then, we also have to possess the most bleeding-edge hardware to stream that kind of reality directly in front of us. These hardware will be out-of-reach for the masses economically while it’s still young. This is an Entry Barrier.
When I have stressed so much fact on Gaming, we should also factor in gameplay and the additional requirement of more resource intensive hardware such as Virtual Reality (VR) headsets. VR headsets will be an absolute must to actually dive into the immersion of the grandeur that the Metaverse space has to offer. To sum it up, all of the enabling technology does exists, there is a complete framework in place, but there is a lot left to achieve in terms of flawless execution. Imagine Web3 now being at the Dial-up Internet phase.
Image source: https://networkencyclopedia.com/dial-up-line/
We are yet to witness broadband internet—> Fiber Internet & the satellite 🛰 era
In the context of Web3, we have to start looking beyond the Metaverse, there are multitude of other things that Web3 has to offer, everything from
Non Fungible Tokens (NFTs)
Artists being able to host their music on the blockchain through projects like Audius
DeFi protocols breaking traditional finance boundaries
DAOs changing the landscape of employment
virtual lands & shopping malls being built in the metaverse
P2E gaming and so much more.
This is the most exciting time for investors & developers alike, who are early-adopters of this transition phase and have taken notice of the massive potential the next level of internet has to offer. If you invest your time in researching upcoming projects, tokenomics, use-case and different type of blockchains, you will be taken a back on how future forward the decentralised internet is and what an opportunity it will be in the coming years. The entire space is still very raw and untapped.
In-depth framework to evaluate projects
Due to me being a part of the crypto space for a long time now, I have been asked multiple times by people about Technical Analysis, Chart Analysis, Chart Patterns and how to master them. Crypto YouTube & Crypto Twitter has made people believe that Technical Analysis is the penultimate pathway to success in the world of Trading & Crypto, but I honestly feel 99% of the crowd misses the most crucial part of the underlying success of a Coin/Token & that is Fundamental Analysis (Tokenomics, project community, social metrics etc)
Honestly any trader dipping their feet into the crypto game for the long-term should absolutely study the art of mastering Fundamental Analysis. This entire concept can take your entire trading game to the next level. Why? because it is only through Fundamental Analysis alone can uncover the multitude layers of a project-
Total, Circulation, Maximum Supply numbers
Social Media engagement & Community strength
So in this part of the article, I will be penning down my most detailed process on how I go about my research and I will try to highlight the best way to tackle the subject and help you in creating a full-fledged guideline to research projects with full conviction.
Please keep in mind, just like the crypto community out there, even I am always learning about the dynamically changing landscape of the space and I am in no means the ultimate source to all things converging to the penultimate research material. My experience in the field & time in the market has helped me with certain aspects, and soon with proper dedication of time, even you will be making your personal handbook 😊
Highlights of this part of the Deep-Dive
In this study, since I want to be detailed about my process and highlight key areas of research to master the framework of project research, I will focus on the following topics-
Coin Ticker/Project name
Date of Report
Introduction to the fundamentals
Network integration, strength, scalability
Unique Selling Points
Audit report (most important)
Team & Advisors backing the project
Partners & Venture Capital (VC) backing
Coin Ticker/ Project Name
The Coin Ticker is the name of the Coin/Token which is listed on the exchange. Taking the case of Chingari App—so Chingari is the name of the project and the application, but the native token for the Chingari ecosystem is called $GARI. It is very important while doing a deep-dive, that this step is executed with due diligence, since in the sea of thousands of projects & new listing every other day, you might just end up studying the wrong project.
Date of Report
This is for the basic hygiene and discipline of a project research, as it will help you keep a chronological track on when you last updated on the project. Reason? Well, you see, crypto projects are ever evolving in nature…some projects would migrate to a new contract address, some would update their roadmap data, some projects would deploy multiple testnets before a mainnet and many more changes that could impose a direct impact on the Fundamentals of the project.
Having a proper date of report & updating the same on a regular basis not only keeps your readers informed about the implemented changes, but also will help you keep a track of how your study could change overtime.
Introduction to Fundamentals
This is relatively the easier part of the report, as you can try to put more emphasis on the key features of the project, with direct references picked from the project whitepaper. I give this my own personal touch by trying to translate the key-points in a more layman language and make it much simpler for my readers to grasp the material.
Network Integration, Strength & Scalability
This is my core focus, especially when the project is only listed on a DEX. This part of my study will always include the right contract address, because in the absence of a CEX listing, the contract address is the only way to buy tokens of the project, and a wrong contract address can cost your reader a lot of money. So always be super cautious with this data.
Also on another data-point front, I try and focus on project integration, whether the project is built on ERC, SOL or another blockchain. Every chain has its own benefits in regards to transactional fees and interoperability, so having this clearly outlined can also can be a huge plus point in your study.
You should also focus on scalability of the network and how easily it communicates to different blockchains. This data should make up a hardcore part of your study 📚.
Unique Selling Points
I do not put singular focus on how many USPs to cover in my study and make sure to include as many USPs as possible to benefit the reader. Your main underlying focus should be on data-points that are easy to comprehend for the reader and in-depth enough to explain the game changing feature of the project. For example, if a project plans to integrate NFTs, you should be thinking what is the unique proposition with these NFTs, your core focus should be on how the integration benefits you and not just include something for the heck of it.
My main focus as I study the project USPs, would be the factors that makes the project in question stand out amongst the noise of other projects.
Example—I had recently attended a Twitter Space, which was hosted by CoinDCX and the guest was the founder of #plutoversexyz, & on being prodded about the project USP, the founder spoke about creating a Metaverse which would enable human interaction amongst the resident citizens of their digital ecosystem. This is a perfect example of what a project differentiator sounds like.
Other underlying features that could also make way in your project study would be the USPs that are common with the already other existing projects, like liquidity pool, native marketplace, HODLing benefits (airdrops, exclusive access…), how the project mechanism makes the coin deflationary or inflationary in nature.
Adding further to this, I would also check for red flags 🚩 with the project. As a good study, you should absolutely focus on the missing pieces of the puzzles as well. In my books, the exclusion of a project whitepaper is an absolute BIG NO and a major cause of concern. I also note down and hammer special emphasis on, if the project has included a vague roadmap, because some projects actually include roadmaps just to make the average Joe believe in it. ❌
Finally, I would also note down if the projects have very little to no USPs. Then the question arises— what’s the purpose of the projects existence? What existing gap does it aim to bridge through its offering and exactly what kind of real-world utility does it bring to the table, if it brings any at all? Projects with no utility always end up being rugpulls, so be cautious.
This is the most important layer that will define the security of a project and its contract. A successfully published audit report should be available for public scrutiny and would include any areas of risk factors.
Something you should give a lot of weightage to within this area of study is the extent of centralisation of the project. Having majority portion of the project funds concentrated in the control of a single team member is a huge red-flag 🚩 for me. Such projects will always have a loophole that hackers could exploit. The more a project is decentralised, the better would be smooth functioning of the protocol.
Centralisation risks are, but not limited to:
How vulnerable is the smart contract to hack?
How easily can a hacker change codes?
Would any loophole expose a threat to liquidity?
Good auditing firms like Hacken, always highlight the risks and the potential exploit that risk might bring with it. They would also make the most suitable suggestions to mitigate these risks, and advice whether the mitigation can be executed via multi-signature wallets, multi-level factor authorisation etc…
While studying a project, always have a look at the audit report and focus on the potential risk areas for your report. This will also be a super powerful educational tool for your own study and research, helping you understand the entire working mechanism of the project in a much better way.
Team & Advisors
Imagine having a very shiny project being marketed in front of you, deploying the best marketing tools and being served as the next big thing in crypto…but there’s a catch! The team is made up of some Anime character name with no public visibility whatsoever. Would you be interested in putting your money on this? I guess not.
Most DeFi projects usually keep their team members anonymous. This maybe out of choice or for other professional reasons, but many a times, this anonymity is kept to rug the investors. So how to safeguard yourself?
Well with advancement of the crypto space, there is a KYC audit framework in place for team members who want to remain anonymous. The project team members have their identity verified by the Audit team and an NFT is submitted as a proof of KYC audit completion. This process keeps the identity of the team private, but you can be rest assured that the actual team is legit and can be held accountable in turn of events, when an internal team-member has made use of an exploit and siphoned off user funds through malicious means.
Another option is getting the project team Fully Doxxed. This is where the information on the team is made public, with links to credible sources, such as, their public LinkedIn profile and will provide a complete history and qualification of the said team-member in question.
Sadly, both the above process do not guarantee a completely safe project &/or the team having 100% integrity, but there is at least a relief that the information is somewhat shared and partially public. Any team that is operating on 100% anonymity is a HUGE RED FLAG 🚩 for me and I will absolutely steer clear from such project, irrespective of the gains I might miss out on.
Partners &/or VC investors
This would my second-priority while studying a project. Having a big-name partner backing &/or VC investors shows that the project & the team is worth their salt.
Exactly the way a Web3 project like Ethereum-Push-Notification-Service (EPNS) got backing from CoinDCX— you can be fully rest assured that there was due diligence done by the investor teams before money was pumped in. Any Layer-1 or Layer-2project should have a partnership backing and an absence of the same is a huge red flag 🚩 in your book.
A Web3 project Deep-Dive: Practical implementation
Project name: Serenity Shield
A direct quote from the project whitepaper:
“The growth of the digital asset class has introduced the world to an asset like no other. Simultaneously intangible and immutable, for so many it now forms the basis of providing financial well-being and security for both ourselves and our loved ones. We regularly store our digital assets in various forms ranging from paper to software and hardware options, accounts on centralized exchanges. However, each of these traditional approaches suffers from significant disadvantages and security vulnerabilities”
The project has been built on Solana:
• Solana Contract address 9pkudFiG5qhiSQQ8XatPbxZj8zBQ5m4XzHsKHMAGkkCR
Serenity Shield on Solscan
Above screenshot taken from: https://solscan.io/token/9pkudFiG5qhiSQQ8XatPbxZj8zBQ5m4XzHsKHMAGkkCR#holders
Unique Selling Points
Serenity Shield offers a one-of-kind solution to one of the most ignored problems in crypto— the loss of private keys, death of a keyholder or misplacing of hardware wallets
A super well-structured marketing strategy in work for the project
Decentralised Identity Digital (DID) service
Shamir’s Secret Sharing (SSS) algorithm
A Zero-Custodial Serenity Wallet dApp built on the Secret Network
Strongbox — requires 2 of 3 NFT keys to access
A very well laid out roadmap
Audit of the project will be completed in Q3 2022, the same information has been included within the project roadmap as well. I have included further details down in this deep-dive
The team is fully dox. Majority of the team members are very active on their respective social media networks, in particular Nikos Koukos and Justin Mantell.
CEO- Rodolphe Seynat
COO- Hughes Svay
The team is made-up of 12 core members, including Rodolphe Seynat & Hugues Svay. The other core team members are:
Mikhael Gerbet- Head of Technical Chapter
Juan Martin Oviedo- Head of Security
Liam DeMarney- Head of Administration
Nikos Koukos- Head of Communication
Candice Baudet- Head of Public Relations
Julio Villalobos- Art Director
David Martin- Specialist US insurance market
Justin Mantell- Business Development
Micheal O’Connor- Strategic Partnerships
Dan Thompson- Copywriter
All of the above mentioned team members have their LinkedIn profile links under their names on the Serenity Shield website — https://serenityshield.io/
Partners &/or Venture Capital (VC) Investors:
They recently announced a new partnership with VC Lyris Capital to go along with the partners and Venture Capitalists are already in place including one of the most promising projects Uniris (Arch Ethic).
March 2022— a new project partnership was announced with Simont Braun. This is a law firm that will assist with the Belgian regulatory framework of Serenity Shield from the time of the announcement.
Serenity Shield has implemented one of the most detailed project roadmaps in place and it’s look super promising and impressive. The entire roadmap has been phased into the following parts:
Phase 1- Development of the product
Phase 2- Project Marketing (Staking, Farming, campaigns)
Phase 3- Development & Code
The main area of highlights during my research of the project were:
• Interoperability with other networks by Q1 2023
• Audit, penetration tests & Bug bounty program for security
• Marketing for growth
• Staking & farming of $SERSH to increase retail investor participation
• Mobile app deployment to onboard more users within the Serenity ecosystem
A well laid out roadmap like the above clearly defines on the goals of the team and how exactly do they want to deliver a product to their audience.
$SERSH is the native token of Serenity Shield
100 million total token supply, initial 25 million circulating supply.
$SERSH will be a deflationary token
Burning Mechanism- The team will buy back $SERSH and burn it by using a percentage of the revenue genereated by the use of their DApp.
20% of the revenue from fees generated via their dApp services will go to a buy back and burn address for a consistent and continuous deflationary token burn ( until 50% of total supply is burned).
Higher the usage of their DApp, higher will be the number of burned tokens
Token distribution model:
Token Vesting period:
Investors with a 4 month cliff — 25% initial release, then linear release for 5 months
Team with a 6 month cliff with 20% initial release, then a systematic release of 20% every quarter
Advisors with a 3 month cliff — 15% initial release, then linear release for 5 months
Private sale rounds 2 months cliff with 20% initial release, then linear release for 5 months
I personally give a big thumbs-up 👍🏻 on how the team have structured the token release schedules to ensure that no initial release can cause a massive dump in the price, but if I consider the fine-print of allocation of tokens between the Team, Advisors & Investors take up 1/3 of the total token supply, a longer vesting period would have been a much better choice. Why? Check the project Internet Computer (ICP)— One of the most promising projects with crazy utility, but the exchange listings have pushed the tokens in the darkest realm of the crypto space.
above screenshot taken from CoinDCX Pro app for ICP/USDT pair, currently down by -99.55% 📉
The revenue streams for the DApp is as follow:
Safe-guarding of information: One-time fee of 50 USDC
Active Strongbox subscription: 1.99 USDC per month
Information retrieval: One-time fee of 25 USDC
The project will enable the DApp fees to be paid in $SERSH tokens in the future. Hopefully that will also bring down the prices I mentioned above & give users the option to choose between USDC & $SERSH Token listing & availability:
29th April, 2022- Serenity Shield held their 1st Round of private sale of the $SERSH token.
Private Sale Round 1 (April)
Minimum Investment: $900 per user with an offer of $0.12 cents/ token (No maximum investment cap for individual investors)
Private Sale Round 2 (May)
Minimum Investment: $400 per user with an offer of $0.15 cents/ token (No maximum investment cap for individual investors)
Public Sale Round (ICO in June)
No minimum investment: Token offer price of $0.2 cents/ token. (No maximum cap)
You will either need a Phantom or Solflare wallet for purchase of $SERSH as this token is built on the Solana network.
Social Media & Community Enagagement:
The Discord server has just been created in March 2022. The number of server members are still low and around the 244 mark with 3 bots, but the team is very active while engaging with the community. Questions are also answered promptly by them
The server is well segregated and easy to navigate with the multiple channels available.
I personally liked their regional channel segregation, with people from different parts of the World having a ‘chill zone’ of sorts.
Putting all of the above simply, Serenity Shield has maximum potential to be a game-changing in the crypto space. The project is actually going out and solving an issue that had no workaround it till now. With the introduction of any new project, there would always be a number of things the team would need to work on & develop, but as the project is still in its early stages of development, there is a lot of room of improvement for the same.
The entirety of this Web3 deep-dive by me came through self-education, watching videos, listening to podcasts around Web3, and most importantly, having the courage to make umpteen mistakes on my journey without fear of failing, but only having the hunger educate myself more and gain knowledge. Projects like Serenity Shield are bringing massive improvements to the space and implementing real-world use. All of this would have been just a far-fetched reality without the development of Web3.
Unlike the existing traditional education system which I believe is absolutely out-dated, Web3 is not bound by physical classrooms, no entry barrier, it is not bound by geographical barriers, neither are there any time limitations. The Web3 landscape has enabled talented individuals like Gajesh, founder of Taksh, who is just 14.3 y/o (as per his Twitter bio) to create something absolutely unique in the space, or enable an individual over 60 years of age to create and contribute to the development of Web3. This burgeoning landscape of Web3 welcomes everyone to BUIDL minus any limitations.
Going future-forward in our vision, we as early-adopters should turn our focus on the transition phase—from Web2 to Web3 and this is where the major roadblocks will pop-up. The incoming of any new technology that enters the space is seen as alien technology and faced with scepticism, but as the community, who are “in-for-the-tech” within this space, channelling out all the useless noise and just focusing on educating oneself, while making a worthwhile contribution to the growing communities will give you a sure shot ticket to the front-row seats of Web3. Many of us missed the late-90s & early 2000s internet boom while playing Counter Strike 😒, and that space was developing right under our nose—let us not repeat the same mistake again with the massive potential of Web3 this time around.
A huge shoutout to CoinDCX & SuperTeam Dao for this Web3 Deep Dive Bounty.
References & Sources:
Medium: Serenity Shield
All screenshots attached above taken on my device from the Serenity Shield website