KYC Guide
In order to be involved in the Digital World of Web3 and fund/withdraw your Cryptocurrency... You must verify your identity with a CEX(CoinBase) so that our world leaders can monitor the invisible wall between Decentraland and the Real World. Alternatively, you can have someone send Crypto straight to your DEX wallet (MetaMask) and bypass needing to verify your Identity... But, you will not be able to cash out or buy more until you do.
Imagine a digital ledger that records transactions in a secure, unchangeable way. It's like a shared spreadsheet that everyone can see but no one can alter.
Cryptocurrency
Digital money that uses blockchain technology to ensure secure, decentralized transactions without banks. Bitcoin is the first and most well-known.
Web3
The next evolution of the internet, where users have ownership and control over their data and assets using blockchain. It's about decentralization and freedom from big tech control.
Blockchain
Learn how to set up your first centralized wallet with Coinbase to start getting involved with Web3 and Blockchain technology. Then come back to set up your first decentralized wallet with MetaMask, where you can start playing in the free world of limitless creation.
Centralized CEX vs Decentralized DEX
Centralized Exchange (CEX)
A Centralized Exchange (CEX) requires you to verify identity and link your bank account to fund your digital wallet, providing you with a straightforward path to purchase cryptocurrencies. However, this process involves trusting the platform with your personal information and funds, as the exchange retains control over transactions and assets.
Decentralized Exchange (DEX)
A Decentralized Exchange (DEX) represents the frontier of financial freedom, where users have unrestricted access to transparent, immutable data recorded / MINTED directly on the blockchain. Once funds are transferred to a decentralized wallet, such as Metamask, you are free from limitations, restrictions, and centralized regulations. In this ecosystem, you are the sole custodian of your wallet, effectively becoming your own bank. However, this autonomy comes with significant responsibility. It is essential to exercise caution and only engage with Web3 environments from trusted developers, as the decentralized nature of these platforms means there are no safety nets.
Blockchain: The Future of Security & Decentralization
Blockchain technology represents the future of digital security and decentralization. Bitcoins 10-minute block time isnt just a technical specification — its a deliberate design choice that balances security, decentralization, and network stability.
Security & Immutability
Bitcoins Proof-of-Work (PoW) ensures transactions are confirmed through computational power, making attacks extremely costly and impractical. The blockchains immutable nature means once data is recorded, it cannot be altered.
Decentralization
The 10-minute block time promotes decentralization by allowing global participation in mining without requiring excessive hardware upgrades. This creates a more inclusive and resistant network..
12- Second Block Times
Unlike Bitcoin, Ethereum achieves faster transactions while maintaining security through its innovative Proof-of-Stake mechanism. After the Merge (Ethereum 2.0), validators stake ETH instead of mining, eliminating energy-intensive operations while ensuring network security.
Transactions finalize significantly faster through epoch checkpoints
More validators create a more decentralized & secure network
Security Comparison
While Bitcoin relies on PoW and high energy costs for security, Ethereum achieves comparable security through PoS, financial penalties, and smart contract validation. Both networks are highly secure, but Ethereums model proves more efficient, scalable, and environmentally friendly—without compromising safety.
Remember Ready Player One?
Remember how in Ready Player One, everyone connected to a single virtual world called the OASIS? A place where anyone could be anything, play together, trade, and build a whole new reality? That wasnt just a movie – it was a glimpse into our future. But instead of IOI trying to control everything, we have Ethereum: a network built for everyone, owned by everyone.
Welcome to the OASIS : The Digital World We Always Dreamed Of
One Network to Connect Us All
Think about it – if we all want to play the same game, use the same currency, or hang out in the same virtual world, we need to be on the same network. Just like how everyone uses the internet, not different internets. Thats Ethereum. It’s like the internet’s final form - a network that gets stronger, faster, and cheaper the more people join it.
The Digital Playground We Always Wanted
Remember as kids when wed make up games and someone would always try to change the rules halfway through? On Ethereum, thats impossible. The rules are fair, transparent, and cant be changed unless everyone agrees. Its like having the worlds most honest referee, but its all run by math and code instead of people.
Built for 8 Billion Players
Ethereum was built right from day one to scale to the entire planet. Layer 2s, rollups, and sharding arent just tech words – theyre like adding new levels to the playground, making room for everyone to play without crashing the game. The more friends that join, the better it gets for everyone. Lower fees, faster transactions, more fun!
Ready Player Everyone
Just like Wade Watts found his destiny in the OASIS, were all early explorers in this new digital frontier. But unlike the OASIS, Ethereum belongs to all of us. No evil corporations, no centralized control – just billions of people playing, creating, and building together in a world where the only limits are our imagination.
The best part? Your’e already here. Your’e one of the pioneers. And just like the early internet, being here now means you’re helping build the future everyone else will someday take for granted. Welcome to the game – lets play!
Web3 Wallets
What is a web3 wallet
A Web3 wallet is a digital currency wallet designed for integration with Web3 technology (decentralized web). Unlike traditional digital currency wallets, Web3 wallets allow users to interact with decentralized applications (DApps), sign transactions, and manage their crypto assets without having to trust a centralized third party. Such wallets typically support multiple cryptocurrencies and offer secure private key management features to ensure the safety of users' funds.
Example “Metta Mask”
Web3 wallets are like our real-life wallets and safes, real-life wallets and safes store your real-world important assets, Web3 wallets manage your cryptocurrencies and digital assets, and it is stored in a relatively safe space, unlike in real life where it is stored in a bank or somewhere, it does not belong to any third-party institutions or organizations, allowing you to access and manage them more securely. Web3 wallets are also not like traditional digital wallets such as Alipay wallets, WeChat wallets, Apple wallets, etc., you can use them to make online payments, transfers, and spending, but they still rely on centralized financial institutions and payment platforms. You need to trust these platforms to keep your funds safe, and they have some control over your funds. Web3 wallets are more decentralized, and users have greater control and privacy protection