Intro to Web3, Blockchain, NFT, DAO, Crypto, Bitcoin, Etherum & Metaverse

In this video, we will be discussing a series of concepts, namely web 3.0, decentralized autonomous organizations (more commonly known as DAO’s), NFTs, Metaverse, Blockchain, cryptocurrency, bitcoin, and Ethereum. Let’s begin by diving into the world of web 3.0.

Web 3.0 is the next iteration of the Internet that is based on blockchain technology, and powered by Artificial Intelligence, natural language processing, machine learning, decentralization, and a token-based economy.

Web 2.0 is the world wide web that we currently use today, which allows the computer to gain back end information about our searches and online profile, store this information in cookies, and sell the cookies to internet giants like Amazon for them to personalize their ads to suit your needs

Web 1.0 is the most primitive version of the internet wherein the machine would simply answer a query it is given by a user

Metaverse is a virtual world in which indiviudals can take on a specific avatar and perform actions that humans in the real world would, just as attending meetings, going to concerts, interacting with other individuals, shopping, eating at restaurants, etc.

Blockchain is a system in which transactions are made through cryptocurrency and data is stored on a series of blocks that are maintained across several devices and are linked through a peer-to-peer network

DAOs, or decentralized autonomous organizations, are community-led entities that have no central authorities and rely on the concept of decentralization, smart contracts, and basic foundational rules that are agreed upon by all members involved

Cryptocurrency is a digital currency wherein transactions are verified and maintained by decentralized systems that lack a central authority, such as a bank

Bitcoin is a popular specific type of cryptocurrency

NFTs are non-fungible tokens, meaning they are digital items, such as art, tweets, videos, etc. that have exclusive ownership rights

Ethereum: is the second biggest blockchain, home of most NFTs, and huge power consumer

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