Ethereum | Merge is coming

Merge šŸ‘‰ a historic week

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ā€œā€Whatā€™s the big deal about the Merge?

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Thereā€™s a popular misconception that the Merge helps Ethereum run faster, or reduces gas fees. Not exactly.

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That job is largely left to Layer 2 chains like Arbitrum, Optimism and Starknet that run on top of Ethereum.

The real significance of the Merge lies in the shift in consensus mechanisms.

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The switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS) mechanisms will dramatically decrease the carbon footprint of running the blockchain by ~99.5%.

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MERGE | EVENTS

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This historic moment is lined up with a week full of live and virtual events.

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Hereā€™s a list of digital events that you can attend from anywhere:

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šŸŽ… The Eve of the Merge Livestream – Bankless

Wednesday, September 14th @ 5pm EST

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šŸ„³ Ethereum Merge Viewing Party – Ethereum Foundation

Wednesday, September 14th @ 11pm EST

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šŸ§˜ā€ā™‚ļø Post-Merge Vibe Sesh with the Ethereum Community – Bankless

Thursday, September 15th @ 9am EST

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šŸ—ž Weekly Rollup Merge Recap Livestream – Bankless

Thursday, September 15th @ 12pm EST

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For those at EthBerlin this week, there are some IRL events that you can also attend!

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Here are a couple that we know of:

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šŸŖ© The Merge Party – Radicle, Entropy & Friends (RSVP pw: hacktheplanet)

Thursday, September 15th @ 10pm CEST

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šŸ«” Through the DAO Prism – 1kx

Thursday, September 15th @ 3pm CEST

This is going to be a historic week for crypto.ā€ā€

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https://newsletter.banklesshq.com/…/a-historic-week-in…

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PGF7T crypto info, Web3, Dapps, NFTs

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

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You will need to have Metamask to pay with PGF7T token.

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We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

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We believe in Web3 and in the strength of communities.

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The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

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QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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PGF7TĀ token will be listed on other Exchanges soon.

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Price:Ā  PGF7T

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..Our NFTs

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Enjoy the Journey šŸš€

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PGF500 Team

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PGF7T crypto info, Web3, Dapps, NFTs

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

 

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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PGF7TĀ token will be listed on other Exchanges soon.

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Price:Ā  PGF7T

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..Our NFTs

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Enjoy the Journey šŸš€

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PGF500 Team

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~~~

What Is Web3? | A Step-by-Step Guide to a Decentralized Web

Every technology goes through generational cycles, including the internet. When a critical threshold of upgrades is crossed, it marks the beginning of a new generation. This moment, and its significance for the marketplace, can prove confusing.

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After all, the features that existed in the first generation still exist, only with additional layers. This is what happened whenĀ  Web1 morphed into Web2 and now we see this occurring in the shift to Web3. Letā€™s start differentiating them:

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The Path to Web3 Explained

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Web 1.0 vs. Web 2.0 vs. Web 3.0.Ā Source:Ā Myraah
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In the late-90s, the internet was just starting to go mainstream. The Web1 era was highly decentralized for a couple of reasons:

  • Low bandwidth infrastructure (up to 1Mbps) precluded the media-heavy internet as we know it today, with 4K video-streaming platforms.

  • Underdeveloped infrastructure went hand-in-hand with simple coding practices. Everyone could learn HTML or copy a template to deploy a website, as they were builtĀ Server-side: generating web content and database query on servers.

As a result, Web1 was static, simple, and non-interactive, making it possible for everyone to create their own websites ā€” blogs, news, forums, and yellow pages. Most internet content was centered around personal web pages hosted on ISP-provided servers, often for free.

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Over time, telecom companies built broadband infrastructure (above 10Mbps) and spurred entrepreneurs to develop new ventures that deepened the experience, and the economics, of the internet.

In the late-ā€™00s, ventures such as YouTube and Netflix scaled as they delivered streamed content to the mass market.

More complicated software stacks began to emerge as the internet demonstrated it was a new channel for television, radio, and publishing.

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Customize Stacks

Alongside HTML, the Web2 software stack includes PHP, CSS, JavaScript, Ajax, HTML5, Java, Ruby, and other programming languages.

In essence, Web2 is the merger of Server-side (programs executed on a server) and Client-side (programs executed in a browser) programming, with web browser languages as the starting point:

  • Web browser stack: HTML, JavaScript, CSS

  • More advanced Server-side and Client-side stack: PHP, JavaScript, Ruby, Python, Java

  • Additionally, to scale up web development more easily and maintain large websites, Server-side webĀ frameworksĀ emerged: Django, Ruby on Rails, Laravel, and other scripting libraries.

Web developers often customize their stacks. For example, the MEAN stack consists ofĀ MongoDB,Ā Express.js,Ā AngularJS/Angular, andĀ Node.js. Or, they could focus on the MERN stack:Ā MongoDB,Ā Express.js,Ā React, andĀ Node.js.

These programming layers made it possible to create dynamic web content, sandwiched between Client-side and Server-side.

Such platforms manifest as Vimeo, YouTube, Twitter, (Meta) Facebook, and TikTok. All of them have in common increased user interaction and effortless content contribution, enabled by Client-side web stacks.

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Web2 Centralization

Web2 was predicated on raising capital and traditional management of business. That meant centralization.Ā  Additional programming stacks made web content both labor and hosting intensive.

Moreover, no individual or small business could pay for vast months of data traffic delivered through video sharing and social media platforms. On top of that, theĀ network effectĀ took place. Even if someone could clone Twitter, the value of Twitter is not in its software, but in the number of people using it. Even former Twitter CEO, Jack Dorsey, admitted as much.

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In other words, as people became dependent on Web2 platforms, they magnetized them for further growth, dulling even quality competition.

This is best exemplified by companies like Google. It went from a search engine start-up to a go-to platform (Alphabet) for everything under the sun ā€” ad integration and monetization, news aggregation, video-sharing, payment rails, AI, robotics, and smartphones.

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Googleā€™s annual revenue from 2002 to 2021, exemplifying power and wealth concentration during Web2.Ā Source: Statista
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As if corporations in control of user data werenā€™t enough, an extra problem surfaced ā€” deplatforming and inter-corporate collusion. Companies control who uses their platforms.

In the end, Web2 turned into an ecosystem made up of a handful of tightly-regimented nodes. These nodes make it convenient to interact with the world, but companies control the nodes and can change their policies when they like.

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Web3 Explained

When all is said and done, everything is about the concentration of power. The more a system is centralized, the more it yields lopsided results.

Case in point, when the Federal Reserve started bailing out commercial banks during the Crash of 2008 by pumpingĀ $498BĀ into their balance sheets, the Occupy Wall Street movement expressed outrage at the use of taxpayer funding.

Protests and movements come and go, but technology stays. A year after the Great Recession of 2008ā€“09, Bitcoin emerged as peer-to-peer (P2P) digital money, its genesis block directly referencing bank bailouts. Bitcoin emerged as an alternative to central banking.

Bitcoinā€™sĀ blockchain technologyĀ also laid the groundwork for Web3. After all, if money can be made both digital and decentralized, it is a layer that can easily be integrated into the internet.

From file storage (IPFS) and video streaming (Livepeer) to monetization, smart contracts in chained data blocks are agnostic to which content is decentralized.

In other words, Web3 mirrors Bitcoin ā€” it is a permissionless, trustless, and decentralized way of generating content, distributing it, and owning it.

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How Does Web3 Work?

Just as different programming stacks defined Web1 and Web2, a new software stack defines Web3 to make decentralized internet happen. Web3 is in many ways a continuation of Web2 in terms of interactivity, but at the bottom of the stack is a blockchain protocol.

On top of the blockchain protocol are four layers that bind blockchain to the end-user experience:

  • Smart contractsĀ are embedded into each data block. Because they chain together, smart contracts are immutable, which is also what makes both NFTs and cryptocurrencies so valuable. Ethereum is the leading platform for deploying smart contracts written in Solidity. Other blockchains, such as Cardano, use Haskell.

  • Web3 librariesĀ that link smart contracts to dApp interfaces: ethers.js, web3.js, or web3.py

  • NodesĀ as blockchainā€™s decentralization cornerstones, linking Web3 libraries to smart contracts. Instead of relying on a centralized cluster of servers, blockchain networks are dispersed across computer nodes. For example, Bitcoin has overĀ 14,000 nodes, while IPFS (Interplanetary File System) for decentralized storage has over 200,000 nodes.

  • WalletsĀ that connect to blockchain networks and individual dApps on them. Wallets should not be considered as containers. Instead, crypto wallets like MetaMask unlock access to blockchains and their dApps, via private keys.

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With these Web3 layers in play, it is possible to replicate every existing Web2 platform. They offer the same Web2 functionality but with decentralized monetization, funds/data ownership, and censorship-resistant content.

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Web3 Examples

LinkedInĀ is a centralized platform for job hunting and business networking. LinkedInā€™s decentralized version is Indorse.io.

This platform uses Indorse tokens (IND) to monetize the platform and establish voting governance. IND tokenholders could then use their tokens to ā€œindorseā€ either prospective employers or employees.

There are alsoĀ YouTubeĀ decentralized equivalents in the form of D.tube and Odysee, one built on IPFS and the other on LBRY file-sharing and monetization network. Later on, Odysee split into its own video-sharing company. It has since matured into a viable YouTube alternative, but without YouTubeā€™s intense censorship.

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Source: Odysee
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When it comes to Web3 social media, the leading lending dApp, Aave, launched Lens Protocol in which the entire social pipeline is tokenized. Users can not only store their own content ā€” posts and comments ā€” as censorship-resistant NFTs, but they can do the same for their followers.

Because everything is tokenized, this means that users have complete control over their online interactions, but without being censored by central entities.

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Web3 Apps To Replace Web2 Tech

There is no shortage ofĀ Web3 dApps. They link back Web1ā€™s initial selling point ā€” decentralization. But now they havetokenized monetization and ownership via wallets. The problem is, they are unlikely to amass much adoption unless Web2 platforms begin to deplatform and censor even more aggressively.

Ultimately, most people prefer the easiest shortcut that requires the least amount of effort. This is where Web2 platforms exce.

Nonetheless, Web3 on a global scale could coalesce into a rival mega-meta Web3 platform in which all blockchain networks are interlinked, and tokens are easily swappable on decentralized exchanges (DEXs).

They may require extra steps and more engagement, but many will see it as a worthwhile and necessary effort.

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What Is Web3?

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PGF7T crypto info, Web3, Dapps, NFTs

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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.

šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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PGF7TĀ token will be listed on other Exchanges soon.

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Price:Ā  PGF7T

.

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..Our NFTs

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Enjoy the Journey šŸš€

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PGF500 Team

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~~~

šŸ’µ The State of Crypto Fundraising

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  • The market downturn has had an impact on crypto fundraising, but the overall outlook remains positive;

  • The number of M&A and debt financing transactions has increased; non-crypto companies are tending to invest in Web3 startups;

  • Large investors are launching additional funds;

  • Web3 has become the most popular category among investors.

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The State of Fundraising

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Crypto VCs are the New Gurus of the Bear Market

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https://cryptorank.io/funds

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Notable Venture Deals

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  • DragonflyĀ acquiring MetaStable Capital

  • eBay acquiring KnownOrigin

  • UniswapĀ acquiring Genie

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To keep up-to-date on fund performance you can visit the Funds page on CryptoRank:Ā https://cryptorank.io/funds

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The State of Crypto Fundraising

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PGF7T crypto info, Web3, NFTs, Dapps šŸ”“

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public atĀ https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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šŸ”“Ā It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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Price:Ā  PGF7T

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.

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Our NFTs

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Enjoy the Journey šŸš€

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PGF500 Team

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~~~