Welcome to Edd's Almanac, a free resource on Web3 topics and subjects that I find interesting, mostly related to NFTs. I've also included a Glossary of words, terms, phrases, and jargon commonly used in web3.
It is safe to assume that the author is holding, or has held at one time, many of the coins, tokens, or products mentioned in these articles, but nothing written here should be interpreted as an endorsement or advertisement. Countless speculators have lost fortunes, ruined reputations, and had personal assets compromised attempting to navigate this brave, new ecosystem, so please proceed with caution.
The web3 landscape shifts rapidly, and news can be misreported, so it is also important to verify the details of any Current Events shared here using your own trusted resources.
If you wish to contribute to this wiki, submit a request via the Contact Form.
The orange and white Bitcoin logo and more public domain images can be found at https://en.bitcoin.it/wiki/Promotional_graphicsBitcoin is the first successful decentralized digital currency supporting peer-to-peer transactions that are collectively authenticated and stored by a globally distributed network of computers. An unknown person or group writing under the name Satoshi Nakamoto published the Bitcoin whitepaper in 2008 and launched the open-source software in 2009.
Blockchain is the term given to the underlying technology powering cryptocurrencies and other digital assets using a distributed, decentralized ledger. This ledger, or database, is often publicly searchable and supported by a network of computers utilizing cryptographically secure systems to validate and record every transaction that occurs.
Those looking to learn more about how and why Satoshi Nakamoto may have started this movement, background reading material can be found at https://nakamotoinstitute.org/literature/
Satoshi Nakamoto's original Bitcoin whitepaper:
DeFi
DeFi (an abbreviation of "decentralized finance") most often refers to the practice of trading cryptocurrencies and tokens directly with other individuals or entities using tools provided by decentralized exchanges.
The environment around digital currencies and the platforms used to trade them is still a very risky one, rife with deceptive and manipulative practices, scammers, hackers, the occasional code exploit, and regulatory agencies still trying to catch up, as well as the usual pitfalls associated with trading volatile assets online.
Screenshot of coingecko.com taken on 2023 September 5
Ethereum
Ethereum is a blockchain network developed as a Turing-complete platform conceived by Vitalik Buterin. Intended to provide a foundation more robust than Bitcoin, Ethereum was developed in order to support extensive decentralized applications.
NFTs are, at their most fundamental level, almost always made up of two parts:
a unique item that is meant to have value to someone - digital art, music, film, poetry, literature, physical creations, collectibles, deeds or titles, voting rights, gaming assets etc
a timestamped digital certificate that authenticates provenance
