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October 30, 2023

XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users

Theme of Next Bull Market In the ever-evolving sphere of digital technology, the next bull market trend is clear — the large-scale incremental entry of users into Web3, the decentralized future of the Internet. On November 8, 2021, the total market value of the global cryptocurrency market reached an all-time high of $2.9T. Like the dot-com bubble, cryptocurrencies also grew a staggering 6x during this crypto bubble, but this miracle was achieved not in 5 years, but in just 1 year. This is equivalent to the crypto industry going through the entire dotcom bubble in just 12 months. In the following 2022, the cryptocurrency bubble continued to burst, causing the market value of cryptocurrency to plummet by two-thirds to less than $1T, and triggering industry catastrophic events such as the collapse of Terra stablecoin, the bankruptcy of Three Arrows Capital hedge fund, and the bankruptcy and liquidation of FTX. Overall, all major Layer 1 blockchains have seen significant price drops from their November 2021 highs: Bitcoin fell from $68,700 to $20,000, Ethereum fell from $49,000 to $15,000, Solana From $260 to $30, etc. Historical marketcap of the global cryptocurrency industry But as the crypto bubble burst, the use of the underlying technology, blockchain, has undergone some interesting changes. As the price of blockchain technology (as measured by cryptocurrency market capitalization) drops, is the use of blockchain technology also declining? Let’s see again. First, we look at the usage of the Bitcoin blockchain, which accounts for 50% of the entire cryptocurrency market capitalization. During the crypto bubble of 2019–2021, the volume of daily Bitcoin payments (which is a measure of Bitcoin usage) was directly related to the price of Bitcoin — as the price rose and fell, so did the number of payments. It will change accordingly. But starting from the bear market in 2022, as the price of Bitcoin fell by half, the number of Bitcoin payments has remained stable, that is, the price of Bitcoin and the amount of Bitcoin usage have become no longer strongly correlated. Compare daily Bitcoin payments with daily Bitcoin prices A similar trend is occurring on Ethereum, the second-largest blockchain accounting for nearly 20% of the entire cryptocurrency market capitalization. Prior to 2022, Ethereum price and Ethereum usage (this time measured by active addresses, similar to Ethereum’s active users) were directly correlated. But despite the Ethereum price collapse in 2022, the number of active addresses has not declined this year. Likewise, usage becomes uncorrelated with price. Compare daily active Ethereum addresses with daily Ethereum price Leading Solana NFT marketplace Magic Eden has seen rapid growth in transaction volume this year, from an average of 230,000 transactions per day in January to a current average of more than 880,000 transactions per day, according to DappRadar. With the price of Solana falling by more than 80% in 2022, Solana usage (measured by NFT trading activity on Magic Eden) has grown by 280%, another sign that blockchain pricing and usage are becoming irrelevant. Leading the charge in this digital revolution is XWORLD, with an impressive cohort of 1 million active users ready to usher in a new era of online interaction. The same was true for the Internet in 2000, when after a price collapse, Internet usage that had nothing to do with Internet pricing rebounded and continued to grow. Compare monthly Internet users to Nasdaq Composite Index price XWORLD: The Pump for the Next Bull Market XWORLD, a pioneering games and apps monetization platform, stands at the forefront of the Web3 movement. With its one million strong user base, it’s not just prepared for the upcoming bull market; it’s set to fuel it. For those unfamiliar with the term, a “bull market” represents a period of rising prices, increased investor confidence, and strong demand. In the context of Web3, this bullish trend signifies a surge of interest and participation in decentralized platforms and applications. And at the heart of this seismic shift lies XWORLD. The platform’s 1 million active users aren’t just numbers; they are the engine that drives XWORLD’s innovative ecosystem. Each user represents a unique interaction, a unique contribution to the platform’s economy. Together, they form a vibrant community that embodies the very essence of Web3 — decentralization, transparency, and user empowerment. But how does this translate into a bull market? The answer lies in the power of numbers. As more and more people flock to XWORLD, they bring with them their unique skills, interests, and economic potential. They interact with the platform, use its features, contribute to its growth. This influx of users and activities fuels demand, propelling the value of the platform and its assets. In other words, it creates a bull market. This trend is not just a testament to XWORLD’s appeal but also a manifestation of the growing interest in Web3. As digital citizens become more aware of the benefits of decentralized platforms — from transparency and security to the potential for earning and ownership — they are gravitating towards platforms like XWORLD. This mass migration of users is a clear indicator of the impending bull market in Web3. However, XWORLD isn’t just riding this wave; it’s steering it. Through its innovative “use to earn” and “use to own” models, XWORLD is showing users the true potential of Web3. It’s proving that Web3 isn’t just a concept; it works, and it can change lives. As we stand on the cusp of a new digital era, XWORLD is ready to lead the charge. With its 1 million active users and its commitment to Web3 principles, it’s poised to drive the next bull market, transforming the digital landscape in the process. So, are you ready to be part of this revolution? Are you ready to embrace the future of the internet, to be part of a community that’s reshaping the digital world? If the answer is yes, then join the XWORLD revolution. To stay updated on all things XWORLD and to be part of this exciting journey, follow XWORLD on Twitter at https://twitter.com/xworld_pro. Join the 1 million active users who are not just witnessing the future of the internet; they’re creating it. Welcome to XWORLD, the platform that’s powering the Web3 bull market. XWORLD New-Gen Games & Apps Monetization Platform Website | Twitter | Instagram | Facebook |Litepaper
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XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users
July 31, 2023

Complete Guide to Earning Free Crypto in 2023

The last couple of years have marked an increase in the overall public awareness of cryptocurrencies worldwide. In return, a larger number of people have expressed their interest in purchasing or earning digital currencies. While buying your favorite coin via an exchange is likely the easiest way to enter the cryptocurrency market, this industry is full of surprises — therefore a noticeable amount of coin can be earned for free. As such, this article offered by XWORLD will cover the main methods that can be leveraged in order to obtain free crypto. Do keep in mind that most of these methods require a bit of effort, since nothing is ever truly free. However, these methods do not entail having to work a fulltime job, nor do they imply any monetary investment from your part. Free Crypto from Coinbase Earn Coinbase is largely seen as one of the most popular digital currency exchanges, especially in the United States. While the platform facilitates the purchase and sale of crypto, it also offers its users the opportunity to earn several coins, including but not limited to Orchid, Tezos, Dai, EOS, Stellar, Zcash, Basic Attention Token and Ox. For example, at the moment you can earn the following cryptos for free: Orchid: users can earn up to $52 OXT by completing a free course meant to teach you the basics of this privacy-focused coin; Tezos: completing a course on Tezos and learning about its openness, safety or upgradability will earn you $6 XTZ; Dai: a similar course-based offer is available for Dai as well, thus granting course participants $20 DAI; EOS: you can earn up to $50 EOS by completing a course on this coin, and learning more about its goal of facilitating the development of blockchain-based apps; Stellar Lumens: the completion of a quick course on how Stellar connects payment systems, banks and individuals will earn you $50 XLM; Zcash: this coin is known for its privacy-focused philosophy — course completion will grant you an undisclosed amount of ZEC tokens; Basic Attention Token: $8-worth of BAT can be earned by reading on BAT’s vision of fixing the web; 0x: last but not least, educating yourself on OX’s token-based idea of the future web will award you several ZRX tokens. Do keep in mind that there is a catch to these courses. You must be the holder of a Coinbase exchange account, where all tokens will be credited. Earning Free Crypto via Airdrops Airdrops are one of the simplest and most effective methods of earning extra cryptocurrency, especially in the form of newly-announced tokens. The idea behind airdrops is quite simple — innovative and newly-launched projects choose to hold airdrops as an effective marketing strategy, meant to pique the interest of the cryptocurrency community. Participating in an airdrop is bound to be quite simple. It entails owning an active Ethereum wallet that is ERC-20 compatible, an email address, Telegram account, and in some cases, a Twitter account. Once these criteria are met, you will have to look for Initial Coin Offerings (ICOs), Security Token Offerings (STOs), and token-based start-ups that have announced an upcoming airdrop. Most of these platforms will require you to sign-up, by entering your ERC-20 address and email. For marketing purposes, some airdrops may require you to follow them on Twitter, or join the Telegram chat group. This ensures that you’re kept in the loop and quickly become aware of news concerning the token. Recently, KYC&AML regulations have made it mandatory for numerous airdrops to request identifying details. This is due to the money laundering potential associated with these events. Therefore, if you’re keen on protecting your online privacy, airdrops might not be the best choice for you. Recently, numerous wallet providers such as Blockchain.com have started sponsoring airdrops. In other words, you are announced whenever a partner start-up is holding an airdrop of their new tokens, and can earn the tokens directly in your wallet. Similarly, there are numerous websites which scour the web looking for new airdrop events. Following will help ensure that you will be one of the first people to know about upcoming airdrops. Leveraging Bounties for Free Coin Bounties are quite similar to airdrops, in the sense that they represent free coins given away by crypto project developers. There’s one key difference, however — bounties generally imply that you do some type of work in exchange for the coin. With this in mind, here are the main types of bounties, alongside a quick description for each: Bug bounties Bug bounty campaigns are generally well-paid, yet they are only relevant to people who hold development skills. Programmers throughout the world actively attempt to crack the code of online platforms, while also testing for potential bugs. As such, crypto and blockchain-based companies may hold bounty campaigns, where developers analyse platform functionality and report any bugs. Over the last couple of years, there have been numerous instances in which white-hat hackers discovered vulnerabilities or significant bugs in web platforms. In return for this service, and based on the severity of the vulnerability discovered, companies can offer tens of thousands of dollars as compensation. Signature campaigns This marketing strategy is often implemented on forums such as Bitcointalk. In exchange for a monthly bounty, forum users add a specific signature, thus indirectly promoting the products and services of a crypto company. Most businesses holding signature campaigns require forum users to have a higher membership level, which can be obtained through frequent high-quality posts. In return for buying the signature space, companies offer a monthly bounty in tokens. Translations Crypto start-ups are always interested in having their content translated into multiple languages. Since many start-ups run on a limited budget, a good method to go about this is to launch a translation bounty. Here, native users translate specific portions of text, in exchange for a number of tokens. Social media, images, blog posts and video bounties Last but not least, we also have other promotional bounties. Some companies may ask you to write and post a positive article on their services, whereas others may require you to edit videos, share posts on social media, or create promotional images. Based on these aspects, bounties do, in fact, represent a method of earning free tokens, yet they imply actual work. Luckily, the work is generally quite easy (apart from bug bounties), and can be completed rather quickly. Affiliate Marketing and Referrals At this point in time, most experts define affiliate marketing as the process associated with promoting products and services of various companies, in exchange for a commission on each sale. A recent research study concluded that US-based affiliate spending may reach $6.8 billion by the end of 2020. As such, affiliate marketing represents a significant revenue stream for numerous companies, especially those which operate in the online ecosystem. Therefore, it only makes sense that numerous crypto and blockchain-related businesses have launched their very own affiliate marketing campaigns. Getting involved is bound to be simple — in most instances, you need an account, and a personalized link, which can be shared across the web. Any service or product that is purchased using your affiliate link or referral code will be credited with a percentage of the sale. Affiliate marketing can earn you free cryptocurrency as long as you are active online. This implies sharing the link as part of valuable content on a variety of platforms, such as crypto discussion forums, Reddit, YouTube, Facebook, Twitter, Instagram, or your personal blog. The possibilities are endless. Your success depends directly on the size of your audience and your overall online reach. However, this means that actual work needs to be carried out in order to get this free crypto. On the other hand, once your links are live, affiliate marketing becomes a lucrative source of passive income, which can be leveraged for a prolonged period of time. To put things into perspective, here are several crypto-related affiliate campaigns: Coinbase: if new users sign up using your personalized affiliate link, you are eligible to obtain 50% of the fees charged by the exchange platform for all transactions; TREZOR: this platform offers 10% of net sales carried out by users who have signed up using your referral; Ledger: this affiliate program promises to credit 12% — 15% of all sales; LocalBitcoins: you can expect to earn 20% of the trading fee associated with each transaction that is carried out by referred users; Binance: this exchange platform offers 20%-40% commissions on transaction fees. Do keep in mind the fact that these conditions may be modified unilaterally by the website. Therefore, it is always recommended that you carry out your due diligence, and carefully research the affiliate marketing conditions associated with each of the examples given above. Additionally, note that this list isn’t exhaustive — in fact, there are hundreds of crypto-related affiliate opportunities on the market at this moment. It certainly isn’t unusual for affiliate marketing to become a main income stream, especially if done right. People have reported earning hundreds of thousands of dollars monthly using affiliate marketing strategies. Given the fact that we are referring to the digital currency market, your income potential is further increased by crypto price volatility. However, this entails that you treat it as a fulltime job until enough of your links are published on the web. Earn BTC/ETH/PEPE etc. in XWORLD Play Games and Earn: In XWORLD, you have the opportunity to play any games you love and earn rewards in the form of token BUILD. Whether you enjoy action-packed adventures, strategic puzzles, or immersive simulations, there’s a game for everyone. The more you play, the more BUILD tokens you accumulate, bringing you one step closer to earning Bitcoin, ETH, or PEPE. Complete Quests and Challenges: XWORLD offers a variety of quests and challenges that test your skills and reward your efforts. By successfully completing these quests, you can earn additional BUILD tokens. Engage in thrilling missions, solve mysteries, or conquer difficult obstacles to unlock valuable rewards. The harder the challenge, the greater the potential for earning Bitcoin, ETH, or PEPE. Join PvP Competitions: Are you a competitive gamer? XWORLD provides exciting player-versus-player (PvP) competitions where you can showcase your skills and earn rewards. Participate in thrilling battles against other players, climb the leaderboards, and emerge victorious. As you progress in PvP, you’ll earn BUILD tokens, which can be invested in the dividend pool to earn Bitcoin, ETH, or PEPE. Invest in the Dividend Pool: XWORLD offers a unique opportunity to invest your earned BUILD tokens in the dividend pool. By contributing to the pool, you become eligible to receive a share of the dividends, which include Bitcoin, ETH, or PEPE. The more BUILD tokens you invest, the higher your potential earnings. It’s a smart way to grow your cryptocurrency portfolio while enjoying the immersive gaming experience XWORLD has to offer. Reap the Rewards: As you accumulate BUILD tokens and invest in the dividend pool, you’ll start reaping the rewards in the form of Bitcoin, ETH, or PEPE. Watch your cryptocurrency holdings grow as you continue to engage with XWORLD’s games, quests, and PvP competitions. It’s an exciting and rewarding journey where your passion for gaming can translate into tangible digital assets. Keep an Eye Out for Scams Over the last couple of years, the popularity of the cryptocurrency market has increased exponentially. The rise in public awareness was mostly fuelled by intense volatility, and record-breaking prices. With this in mind, the market is still seen as a way to get rich quickly. While there is significant money-making potential in crypto, this perception has led to the appearance of numerous scams, meant to fraud people out of their money. Whenever dealing in crypto, there are two aspects worth keeping in mind: if an offer sounds too good to be true, it probably is. Also, you should never risk more than you can afford to lose. Cybersecurity practices dictate that it’s best to always carry out in-depth research on any platform or service that you decide to use. Similarly, you should never give out your personal details or private keys to third parties. Protection against scams and other forms of fraudulent activity is basically non-existent, whereas transactions are irreversible, therefore due diligence is essential. Remember, XWORLD is not just a gaming platform; it’s a gateway to earning valuable cryptocurrencies. So, jump into the world of XWORLD, play your favorite games, complete quests, join PvP battles, earn BUILD tokens, and invest wisely to unlock the potential of earning Bitcoin, ETH, or PEPE. Start your journey today and experience the thrill of earning crypto while doing what you love. Testnet has been launched in Southeast Asia. Download: https://play.google.com/store/apps/details?id=pro.xworld.app Join the XWORLD Community Ready to explore the limitless possibilities of XWORLD? Visit the official website, follow XWORLD on Twitter (@xworld_pro) to stay updated on the latest news, releases, and opportunities. Don’t miss out on this exciting revolution in gaming and beyond! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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Complete Guide to Earning Free Crypto in 2023
August 1, 2023

50+ Web3 and Blockchain Keywords Explained

Web3.0: Web3.0, also known as Web3, refers to the next generation of the internet that incorporates decentralized technologies such as blockchain, cryptocurrencies, and peer-to-peer networks. Web3.0 aims to empower users with more control over their data, privacy, and online interactions. It envisions a more open, transparent, and user-centric internet. Decentralization: Decentralization refers to the distribution of control and decision-making across a network, rather than being held by a central authority. In the context of Web3 and blockchain, decentralization is a key principle that aims to eliminate the need for intermediaries and allows participants to have more control over their data and transactions. Smart Contract: A smart contract is a self-executing contract with the terms of the agreement directly written into code. Smart contracts are deployed on blockchain platforms and automatically execute predefined actions when certain conditions are met. They enable trustless and transparent interactions between parties. Decentralized Finance (DeFi): Decentralized Finance (DeFi) refers to the use of blockchain technology and smart contracts to recreate traditional financial systems in a decentralized manner. DeFi aims to provide financial services such as lending, borrowing, and trading without the need for intermediaries like banks. It enables greater accessibility and transparency in financial transactions. Non-Fungible Token (NFT): A Non-Fungible Token (NFT) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content. NFTs have gained popularity in the art and collectibles space. Each NFT has a unique identifier and cannot be exchanged on a one-to-one basis like cryptocurrencies. Interoperability: Interoperability refers to the ability of different blockchain networks or systems to communicate and interact with each other seamlessly. It is important for enabling data and asset transfer between different blockchains and ensuring compatibility between various chains. Consensus Mechanism: A consensus mechanism is a protocol or algorithm used to achieve agreement among participants in a distributed network. Consensus mechanisms ensure that all nodes in a blockchain network agree on the validity of transactions and the order in which they are added to the blockchain. Examples include Proof of Work (PoW) and Proof of Stake (PoS). Proof of Work (PoW): Consensus mechanism where miners solve complex puzzles to validate transactions, ensuring security and immutability by making tampering computationally expensive. Proof of Stake (PoS): Consensus mechanism where validators create blocks based on staked cryptocurrency, promoting energy efficiency, scalability, and faster block validation without intensive computational puzzles. Distributed Ledger Technology (DLT): Distributed Ledger Technology (DLT) is a broader term that encompasses blockchain technology. It refers to a decentralized and distributed database that records and stores transactions across multiple nodes or computers. Blockchain is a specific type of DLT. Cryptocurrency: Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology. Examples of cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH). Gas: Gas refers to the unit of measurement for the computational effort required to execute transactions or smart contracts on the Ethereum blockchain. Gas is paid in Ether (ETH) and helps prevent spam and abuse by requiring users to pay for the computational resources they consume. Oracles: Oracles are services or mechanisms that provide external data to smart contracts on the blockchain. They act as bridges between the blockchain and the real world, enabling smart contracts to interact with off-chain data sources, such as APIs, to make informed decisions and trigger actions based on real-time information. Cross-Chain: Cross-chain refers to the ability to transfer assets or data between different blockchain networks. It involves interoperability and allows users to move assets seamlessly across different blockchains, facilitating increased liquidity and expanding the possibilities for decentralized applications. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Permissionless: Permissionless refers to the openness and accessibility of a blockchain network or protocol. In a permissionless network, anyone can participate, validate transactions, and contribute to the network without requiring explicit permission. This characteristic is a fundamental aspect of many blockchain networks, enabling anyone to join and interact with the network without needing approval from a central authority. Hard Fork: A hard fork is a type of upgrade or change to a blockchain protocol that is not backward compatible with older versions. It requires all participants in the network to upgrade to the new version in order to continue participating. Hard forks can result in a split in the blockchain, creating two separate chains with different rules and potentially leading to the creation of a new cryptocurrency. Halving: Halving is an event that occurs in some cryptocurrencies, such as Bitcoin, where the block reward for miners is reduced by half after a certain number of blocks are mined. This event is programmed into the cryptocurrency’s protocol and is designed to control the issuance of new coins and create scarcity over time. Hashing Algorithm: Hashing is a process used in computing to generate a unique and fixed-size string of characters (hash) from input data of any size. In the context of blockchain, hashing is used to create a digital fingerprint of data, such as transactions or blocks, ensuring their integrity and allowing for easy verification. Hashes are used to confirm the completeness and validity of blockchain transactions. Censorship Resistance: Censorship resistance refers to the ability of a system or platform to resist censorship or control by centralized authorities. In Web3, blockchain-based platforms provide censorship resistance by decentralizing control and allowing users to have ownership and control over their data and transactions. This enables freedom of expression and protects against arbitrary censorship or manipulation. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Immutable Ledger: An immutable ledger refers to a blockchain’s characteristic of being tamper-resistant and unchangeable once data is added to it. Once a transaction or data is recorded on the blockchain, it becomes part of a permanent and transparent history that cannot be altered or deleted. This property ensures the integrity and trustworthiness of the data stored on the blockchain. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Token Standards: Token standards are specific protocols or sets of rules that define the functionality and behavior of tokens on a blockchain. Examples of token standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens (NFTs), and ERC-1155 for multi-token standards. Token standards ensure interoperability and compatibility between different tokens and enable developers to build applications that interact with tokens in a standardized way. Decentralized File Storage: Decentralized file storage refers to the storage of data on a distributed network of nodes, rather than relying on a centralized server or provider. Blockchain-based decentralized file storage systems, such as IPFS (InterPlanetary File System) or Filecoin, allow users to store and retrieve data in a secure, distributed, and censorship-resistant manner. Tokenomics: Tokenomics refers to the economic design and structure of a cryptocurrency or token ecosystem. It encompasses factors such as token supply, distribution, utility, governance mechanisms, and incentives. Tokenomics aims to create a sustainable and balanced ecosystem that aligns the interests of token holders, users, and other stakeholders in the network. Zero-knowledge proofs (ZKPs): ZKPs are cryptographic protocols that allow one party (the prover) to prove the knowledge of a certain piece of information to another party (the verifier) without revealing the actual information itself. The goal of zero-knowledge proofs is to convince the verifier of the truthfulness of a statement without disclosing any additional information beyond the validity of the statement. Ethereum: Ethereum is an open-source, blockchain-based platform that enables developers to build and deploy decentralized applications (dApps). It was proposed by Vitalik Buterin in late 2013 and development was crowdfunded in 2014. Ethereum’s blockchain is fundamentally different from Bitcoin’s blockchain. While Bitcoin’s blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running programming code of any decentralized application Bitcoin: Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency, is a type of money that is completely virtual. It’s like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether. Bitcoin was the first cryptocurrency and remains the most important in the market. It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. ICO: ICO stands for Initial Coin Offering and it’s often used as a fundraiser for new projects. This is where a company looking to raise money to create a new coin, app, or service launches an ICO as a way to raise funds. People who buy into the ICO receive a certain number of tokens in return. ICOs are often compared to IPOs (Initial Public Offerings), but there are some significant differences Public Key: In the world of cryptocurrencies, a public key represents a point on a particular Elliptic Curve (EC) defined in secp256k1. Public keys contain an identification byte, a 32-byte X coordinate, and a 32-byte Y coordinate. They are used in Bitcoin and other cryptocurrencies for generating addresses where funds can be seen Private Key: In cryptocurrencies, a private key allows a user to gain full access to their wallet. The person who holds the private key fully controls the coins in that wallet. For this reason, it should be kept secret. Formally, a private key for Bitcoin (and many other cryptocurrencies) is a series of 32 bytes Stablecoin: Stablecoins are a type of cryptocurrency designed to minimize volatility, a common issue with cryptocurrencies like Bitcoin. They achieve this stability by pegging their market value to an external reference, usually a fiat currency like the US dollar, or a commodity like gold. Some stablecoins maintain reserve assets as collateral, while others use algorithmic formulas to control supply. The primary purpose of stablecoins is to provide a more suitable option for common transactions. Altcoin: The term altcoin refers to all cryptocurrencies other than Bitcoin and, for some, Ethereum. These alternative cryptocurrencies come in various types, each designed for different purposes. While the future value of altcoins is unpredictable, as long as the blockchain they were designed for continues to be used and developed, the altcoins will continue to exist. It’s important to note that while many altcoins offer potential investment opportunities, some are scams or have lost developer and community interest Mainnet: It refers to the main blockchain network of a cryptocurrency, where real transactions and operations take place. It is the live and production-ready network where actual value is exchanged. Mainnet is typically used for real-world applications, and transactions on the mainnet involve real cryptocurrencies. Testnet: on the other hand, is a separate network specifically designed for testing and development purposes. It mimics the functionalities of the mainnet but uses test tokens or simulated cryptocurrencies that have no real-world value. Testnets allow developers and users to experiment, validate, and debug their applications without risking real funds. It provides a safe environment for testing new features, smart contracts, and conducting simulations before deploying on the mainnet. Testnets are crucial for ensuring the reliability and security of applications before they are deployed to the production-ready mainnet. Remix IDE: is an online development environment for writing, testing, and deploying smart contracts on the Ethereum blockchain. It provides a user-friendly interface with a built-in code editor, compiler, debugger, and deployment tools. Remix IDE allows developers to write Solidity smart contracts, interact with contracts using a web3 provider, and test their code using various tools and plugins. It is a popular choice for Ethereum developers due to its simplicity and comprehensive features. Infura/Alchemy: It is a popular service that provides infrastructure and API endpoints for connecting to the Ethereum blockchain. It acts as a web3 provider, allowing developers to interact with the Ethereum network without running a full Ethereum node. Infura simplifies the development process by providing reliable and scalable access to the Ethereum blockchain, eliminating the need for developers to set up and maintain their own infrastructure. It offers various API endpoints, including JSON-RPC and WebSocket, which developers can use to send transactions, retrieve data, and interact with smart contracts. Infura is widely used by developers to integrate Ethereum functionality into their applications and services. Mining: Mining is the process of validating and adding new transactions to a blockchain. It involves solving complex mathematical puzzles to find a new block, which contains a set of transactions. Miners compete with each other to solve these puzzles by using computational power, and the first miner to find the solution gets rewarded with newly minted cryptocurrency tokens. Mining ensures the security, integrity, and decentralization of a blockchain network by preventing double-spending and maintaining consensus among participants. Tokenization: Tokenization is the process of representing real-world assets or rights as digital tokens on a blockchain. It allows for fractional ownership, increased liquidity, and easier transfer of assets. Tokenization has applications in areas such as real estate, art, and finance. Immutable: Immutable means that something is unchangeable or cannot be altered or tampered with. In the context of blockchain, immutability refers to the property of data stored on the blockchain that cannot be modified once it is added to the chain. This ensures the integrity and trustworthiness of the data. Merkle Tree: A hierarchical data structure that enables efficient verification and integrity checks of large datasets. It uses cryptographic hashing to create a tree structure where each node represents the hash of its child nodes, providing an efficient way to verify the integrity of specific data without needing to examine the entire dataset. Byzantine Fault Tolerance: The ability of a distributed system to reach a consensus even in the presence of malicious or faulty nodes. It ensures system resilience by employing redundancy, replication, and consensus algorithms to tolerate failures and prevent malicious actors from compromising the integrity and reliability of the system. ICO (Initial Coin Offering): A fundraising method used by cryptocurrency projects to raise capital. It involves issuing and selling tokens to investors in exchange for cryptocurrencies or fiat currencies, providing early access to the project’s tokens and potential returns on investment. Whitepaper: A detailed document that outlines the concept, technology, goals, and implementation plan of a cryptocurrency project. It provides an in-depth analysis of the project’s vision, technical specifications, tokenomics, and potential impact, serving as a comprehensive guide for investors and stakeholders. Yellowpaper: Similar to a whitepaper, a yellowpaper is a technical document that provides a deeper technical understanding of a cryptocurrency project. It typically delves into the underlying protocols, algorithms, and technical intricacies of the project, providing detailed explanations and specifications for developers and researchers. Fork: A divergence in the blockchain where a single chain splits into two separate chains, resulting in two different versions of the blockchain. Soft Fork: A backward-compatible upgrade to the blockchain protocol where the new rules are more restrictive than the old rules, allowing the new blocks to be accepted by both old and new nodes. Hard Fork: A non-backward-compatible upgrade to the blockchain protocol where the new rules are more permissive than the old rules, resulting in a permanent divergence in the blockchain and two separate chains that are incompatible with each other. XWORLD, a pioneering Web3 App Store, provides a safe and trustworthy platform for users to explore a wide range of dApps and discover the treasure trove of Web3. Visit the XWORLD website (www.xworld.pro) and follow Twitter (https://twitter.com/xworld_pro) to learn more about this exciting platform and embark on your Web3 journey today! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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50+ Web3 and Blockchain Keywords Explained
October 30, 2023

XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users

Theme of Next Bull Market In the ever-evolving sphere of digital technology, the next bull market trend is clear — the large-scale incremental entry of users into Web3, the decentralized future of the Internet. On November 8, 2021, the total market value of the global cryptocurrency market reached an all-time high of $2.9T. Like the dot-com bubble, cryptocurrencies also grew a staggering 6x during this crypto bubble, but this miracle was achieved not in 5 years, but in just 1 year. This is equivalent to the crypto industry going through the entire dotcom bubble in just 12 months. In the following 2022, the cryptocurrency bubble continued to burst, causing the market value of cryptocurrency to plummet by two-thirds to less than $1T, and triggering industry catastrophic events such as the collapse of Terra stablecoin, the bankruptcy of Three Arrows Capital hedge fund, and the bankruptcy and liquidation of FTX. Overall, all major Layer 1 blockchains have seen significant price drops from their November 2021 highs: Bitcoin fell from $68,700 to $20,000, Ethereum fell from $49,000 to $15,000, Solana From $260 to $30, etc. Historical marketcap of the global cryptocurrency industry But as the crypto bubble burst, the use of the underlying technology, blockchain, has undergone some interesting changes. As the price of blockchain technology (as measured by cryptocurrency market capitalization) drops, is the use of blockchain technology also declining? Let’s see again. First, we look at the usage of the Bitcoin blockchain, which accounts for 50% of the entire cryptocurrency market capitalization. During the crypto bubble of 2019–2021, the volume of daily Bitcoin payments (which is a measure of Bitcoin usage) was directly related to the price of Bitcoin — as the price rose and fell, so did the number of payments. It will change accordingly. But starting from the bear market in 2022, as the price of Bitcoin fell by half, the number of Bitcoin payments has remained stable, that is, the price of Bitcoin and the amount of Bitcoin usage have become no longer strongly correlated. Compare daily Bitcoin payments with daily Bitcoin prices A similar trend is occurring on Ethereum, the second-largest blockchain accounting for nearly 20% of the entire cryptocurrency market capitalization. Prior to 2022, Ethereum price and Ethereum usage (this time measured by active addresses, similar to Ethereum’s active users) were directly correlated. But despite the Ethereum price collapse in 2022, the number of active addresses has not declined this year. Likewise, usage becomes uncorrelated with price. Compare daily active Ethereum addresses with daily Ethereum price Leading Solana NFT marketplace Magic Eden has seen rapid growth in transaction volume this year, from an average of 230,000 transactions per day in January to a current average of more than 880,000 transactions per day, according to DappRadar. With the price of Solana falling by more than 80% in 2022, Solana usage (measured by NFT trading activity on Magic Eden) has grown by 280%, another sign that blockchain pricing and usage are becoming irrelevant. Leading the charge in this digital revolution is XWORLD, with an impressive cohort of 1 million active users ready to usher in a new era of online interaction. The same was true for the Internet in 2000, when after a price collapse, Internet usage that had nothing to do with Internet pricing rebounded and continued to grow. Compare monthly Internet users to Nasdaq Composite Index price XWORLD: The Pump for the Next Bull Market XWORLD, a pioneering games and apps monetization platform, stands at the forefront of the Web3 movement. With its one million strong user base, it’s not just prepared for the upcoming bull market; it’s set to fuel it. For those unfamiliar with the term, a “bull market” represents a period of rising prices, increased investor confidence, and strong demand. In the context of Web3, this bullish trend signifies a surge of interest and participation in decentralized platforms and applications. And at the heart of this seismic shift lies XWORLD. The platform’s 1 million active users aren’t just numbers; they are the engine that drives XWORLD’s innovative ecosystem. Each user represents a unique interaction, a unique contribution to the platform’s economy. Together, they form a vibrant community that embodies the very essence of Web3 — decentralization, transparency, and user empowerment. But how does this translate into a bull market? The answer lies in the power of numbers. As more and more people flock to XWORLD, they bring with them their unique skills, interests, and economic potential. They interact with the platform, use its features, contribute to its growth. This influx of users and activities fuels demand, propelling the value of the platform and its assets. In other words, it creates a bull market. This trend is not just a testament to XWORLD’s appeal but also a manifestation of the growing interest in Web3. As digital citizens become more aware of the benefits of decentralized platforms — from transparency and security to the potential for earning and ownership — they are gravitating towards platforms like XWORLD. This mass migration of users is a clear indicator of the impending bull market in Web3. However, XWORLD isn’t just riding this wave; it’s steering it. Through its innovative “use to earn” and “use to own” models, XWORLD is showing users the true potential of Web3. It’s proving that Web3 isn’t just a concept; it works, and it can change lives. As we stand on the cusp of a new digital era, XWORLD is ready to lead the charge. With its 1 million active users and its commitment to Web3 principles, it’s poised to drive the next bull market, transforming the digital landscape in the process. So, are you ready to be part of this revolution? Are you ready to embrace the future of the internet, to be part of a community that’s reshaping the digital world? If the answer is yes, then join the XWORLD revolution. To stay updated on all things XWORLD and to be part of this exciting journey, follow XWORLD on Twitter at https://twitter.com/xworld_pro. Join the 1 million active users who are not just witnessing the future of the internet; they’re creating it. Welcome to XWORLD, the platform that’s powering the Web3 bull market. XWORLD New-Gen Games & Apps Monetization Platform Website | Twitter | Instagram | Facebook |Litepaper
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XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users
July 31, 2023

Complete Guide to Earning Free Crypto in 2023

The last couple of years have marked an increase in the overall public awareness of cryptocurrencies worldwide. In return, a larger number of people have expressed their interest in purchasing or earning digital currencies. While buying your favorite coin via an exchange is likely the easiest way to enter the cryptocurrency market, this industry is full of surprises — therefore a noticeable amount of coin can be earned for free. As such, this article offered by XWORLD will cover the main methods that can be leveraged in order to obtain free crypto. Do keep in mind that most of these methods require a bit of effort, since nothing is ever truly free. However, these methods do not entail having to work a fulltime job, nor do they imply any monetary investment from your part. Free Crypto from Coinbase Earn Coinbase is largely seen as one of the most popular digital currency exchanges, especially in the United States. While the platform facilitates the purchase and sale of crypto, it also offers its users the opportunity to earn several coins, including but not limited to Orchid, Tezos, Dai, EOS, Stellar, Zcash, Basic Attention Token and Ox. For example, at the moment you can earn the following cryptos for free: Orchid: users can earn up to $52 OXT by completing a free course meant to teach you the basics of this privacy-focused coin; Tezos: completing a course on Tezos and learning about its openness, safety or upgradability will earn you $6 XTZ; Dai: a similar course-based offer is available for Dai as well, thus granting course participants $20 DAI; EOS: you can earn up to $50 EOS by completing a course on this coin, and learning more about its goal of facilitating the development of blockchain-based apps; Stellar Lumens: the completion of a quick course on how Stellar connects payment systems, banks and individuals will earn you $50 XLM; Zcash: this coin is known for its privacy-focused philosophy — course completion will grant you an undisclosed amount of ZEC tokens; Basic Attention Token: $8-worth of BAT can be earned by reading on BAT’s vision of fixing the web; 0x: last but not least, educating yourself on OX’s token-based idea of the future web will award you several ZRX tokens. Do keep in mind that there is a catch to these courses. You must be the holder of a Coinbase exchange account, where all tokens will be credited. Earning Free Crypto via Airdrops Airdrops are one of the simplest and most effective methods of earning extra cryptocurrency, especially in the form of newly-announced tokens. The idea behind airdrops is quite simple — innovative and newly-launched projects choose to hold airdrops as an effective marketing strategy, meant to pique the interest of the cryptocurrency community. Participating in an airdrop is bound to be quite simple. It entails owning an active Ethereum wallet that is ERC-20 compatible, an email address, Telegram account, and in some cases, a Twitter account. Once these criteria are met, you will have to look for Initial Coin Offerings (ICOs), Security Token Offerings (STOs), and token-based start-ups that have announced an upcoming airdrop. Most of these platforms will require you to sign-up, by entering your ERC-20 address and email. For marketing purposes, some airdrops may require you to follow them on Twitter, or join the Telegram chat group. This ensures that you’re kept in the loop and quickly become aware of news concerning the token. Recently, KYC&AML regulations have made it mandatory for numerous airdrops to request identifying details. This is due to the money laundering potential associated with these events. Therefore, if you’re keen on protecting your online privacy, airdrops might not be the best choice for you. Recently, numerous wallet providers such as Blockchain.com have started sponsoring airdrops. In other words, you are announced whenever a partner start-up is holding an airdrop of their new tokens, and can earn the tokens directly in your wallet. Similarly, there are numerous websites which scour the web looking for new airdrop events. Following will help ensure that you will be one of the first people to know about upcoming airdrops. Leveraging Bounties for Free Coin Bounties are quite similar to airdrops, in the sense that they represent free coins given away by crypto project developers. There’s one key difference, however — bounties generally imply that you do some type of work in exchange for the coin. With this in mind, here are the main types of bounties, alongside a quick description for each: Bug bounties Bug bounty campaigns are generally well-paid, yet they are only relevant to people who hold development skills. Programmers throughout the world actively attempt to crack the code of online platforms, while also testing for potential bugs. As such, crypto and blockchain-based companies may hold bounty campaigns, where developers analyse platform functionality and report any bugs. Over the last couple of years, there have been numerous instances in which white-hat hackers discovered vulnerabilities or significant bugs in web platforms. In return for this service, and based on the severity of the vulnerability discovered, companies can offer tens of thousands of dollars as compensation. Signature campaigns This marketing strategy is often implemented on forums such as Bitcointalk. In exchange for a monthly bounty, forum users add a specific signature, thus indirectly promoting the products and services of a crypto company. Most businesses holding signature campaigns require forum users to have a higher membership level, which can be obtained through frequent high-quality posts. In return for buying the signature space, companies offer a monthly bounty in tokens. Translations Crypto start-ups are always interested in having their content translated into multiple languages. Since many start-ups run on a limited budget, a good method to go about this is to launch a translation bounty. Here, native users translate specific portions of text, in exchange for a number of tokens. Social media, images, blog posts and video bounties Last but not least, we also have other promotional bounties. Some companies may ask you to write and post a positive article on their services, whereas others may require you to edit videos, share posts on social media, or create promotional images. Based on these aspects, bounties do, in fact, represent a method of earning free tokens, yet they imply actual work. Luckily, the work is generally quite easy (apart from bug bounties), and can be completed rather quickly. Affiliate Marketing and Referrals At this point in time, most experts define affiliate marketing as the process associated with promoting products and services of various companies, in exchange for a commission on each sale. A recent research study concluded that US-based affiliate spending may reach $6.8 billion by the end of 2020. As such, affiliate marketing represents a significant revenue stream for numerous companies, especially those which operate in the online ecosystem. Therefore, it only makes sense that numerous crypto and blockchain-related businesses have launched their very own affiliate marketing campaigns. Getting involved is bound to be simple — in most instances, you need an account, and a personalized link, which can be shared across the web. Any service or product that is purchased using your affiliate link or referral code will be credited with a percentage of the sale. Affiliate marketing can earn you free cryptocurrency as long as you are active online. This implies sharing the link as part of valuable content on a variety of platforms, such as crypto discussion forums, Reddit, YouTube, Facebook, Twitter, Instagram, or your personal blog. The possibilities are endless. Your success depends directly on the size of your audience and your overall online reach. However, this means that actual work needs to be carried out in order to get this free crypto. On the other hand, once your links are live, affiliate marketing becomes a lucrative source of passive income, which can be leveraged for a prolonged period of time. To put things into perspective, here are several crypto-related affiliate campaigns: Coinbase: if new users sign up using your personalized affiliate link, you are eligible to obtain 50% of the fees charged by the exchange platform for all transactions; TREZOR: this platform offers 10% of net sales carried out by users who have signed up using your referral; Ledger: this affiliate program promises to credit 12% — 15% of all sales; LocalBitcoins: you can expect to earn 20% of the trading fee associated with each transaction that is carried out by referred users; Binance: this exchange platform offers 20%-40% commissions on transaction fees. Do keep in mind the fact that these conditions may be modified unilaterally by the website. Therefore, it is always recommended that you carry out your due diligence, and carefully research the affiliate marketing conditions associated with each of the examples given above. Additionally, note that this list isn’t exhaustive — in fact, there are hundreds of crypto-related affiliate opportunities on the market at this moment. It certainly isn’t unusual for affiliate marketing to become a main income stream, especially if done right. People have reported earning hundreds of thousands of dollars monthly using affiliate marketing strategies. Given the fact that we are referring to the digital currency market, your income potential is further increased by crypto price volatility. However, this entails that you treat it as a fulltime job until enough of your links are published on the web. Earn BTC/ETH/PEPE etc. in XWORLD Play Games and Earn: In XWORLD, you have the opportunity to play any games you love and earn rewards in the form of token BUILD. Whether you enjoy action-packed adventures, strategic puzzles, or immersive simulations, there’s a game for everyone. The more you play, the more BUILD tokens you accumulate, bringing you one step closer to earning Bitcoin, ETH, or PEPE. Complete Quests and Challenges: XWORLD offers a variety of quests and challenges that test your skills and reward your efforts. By successfully completing these quests, you can earn additional BUILD tokens. Engage in thrilling missions, solve mysteries, or conquer difficult obstacles to unlock valuable rewards. The harder the challenge, the greater the potential for earning Bitcoin, ETH, or PEPE. Join PvP Competitions: Are you a competitive gamer? XWORLD provides exciting player-versus-player (PvP) competitions where you can showcase your skills and earn rewards. Participate in thrilling battles against other players, climb the leaderboards, and emerge victorious. As you progress in PvP, you’ll earn BUILD tokens, which can be invested in the dividend pool to earn Bitcoin, ETH, or PEPE. Invest in the Dividend Pool: XWORLD offers a unique opportunity to invest your earned BUILD tokens in the dividend pool. By contributing to the pool, you become eligible to receive a share of the dividends, which include Bitcoin, ETH, or PEPE. The more BUILD tokens you invest, the higher your potential earnings. It’s a smart way to grow your cryptocurrency portfolio while enjoying the immersive gaming experience XWORLD has to offer. Reap the Rewards: As you accumulate BUILD tokens and invest in the dividend pool, you’ll start reaping the rewards in the form of Bitcoin, ETH, or PEPE. Watch your cryptocurrency holdings grow as you continue to engage with XWORLD’s games, quests, and PvP competitions. It’s an exciting and rewarding journey where your passion for gaming can translate into tangible digital assets. Keep an Eye Out for Scams Over the last couple of years, the popularity of the cryptocurrency market has increased exponentially. The rise in public awareness was mostly fuelled by intense volatility, and record-breaking prices. With this in mind, the market is still seen as a way to get rich quickly. While there is significant money-making potential in crypto, this perception has led to the appearance of numerous scams, meant to fraud people out of their money. Whenever dealing in crypto, there are two aspects worth keeping in mind: if an offer sounds too good to be true, it probably is. Also, you should never risk more than you can afford to lose. Cybersecurity practices dictate that it’s best to always carry out in-depth research on any platform or service that you decide to use. Similarly, you should never give out your personal details or private keys to third parties. Protection against scams and other forms of fraudulent activity is basically non-existent, whereas transactions are irreversible, therefore due diligence is essential. Remember, XWORLD is not just a gaming platform; it’s a gateway to earning valuable cryptocurrencies. So, jump into the world of XWORLD, play your favorite games, complete quests, join PvP battles, earn BUILD tokens, and invest wisely to unlock the potential of earning Bitcoin, ETH, or PEPE. Start your journey today and experience the thrill of earning crypto while doing what you love. Testnet has been launched in Southeast Asia. Download: https://play.google.com/store/apps/details?id=pro.xworld.app Join the XWORLD Community Ready to explore the limitless possibilities of XWORLD? Visit the official website, follow XWORLD on Twitter (@xworld_pro) to stay updated on the latest news, releases, and opportunities. Don’t miss out on this exciting revolution in gaming and beyond! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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Complete Guide to Earning Free Crypto in 2023
August 1, 2023

50+ Web3 and Blockchain Keywords Explained

Web3.0: Web3.0, also known as Web3, refers to the next generation of the internet that incorporates decentralized technologies such as blockchain, cryptocurrencies, and peer-to-peer networks. Web3.0 aims to empower users with more control over their data, privacy, and online interactions. It envisions a more open, transparent, and user-centric internet. Decentralization: Decentralization refers to the distribution of control and decision-making across a network, rather than being held by a central authority. In the context of Web3 and blockchain, decentralization is a key principle that aims to eliminate the need for intermediaries and allows participants to have more control over their data and transactions. Smart Contract: A smart contract is a self-executing contract with the terms of the agreement directly written into code. Smart contracts are deployed on blockchain platforms and automatically execute predefined actions when certain conditions are met. They enable trustless and transparent interactions between parties. Decentralized Finance (DeFi): Decentralized Finance (DeFi) refers to the use of blockchain technology and smart contracts to recreate traditional financial systems in a decentralized manner. DeFi aims to provide financial services such as lending, borrowing, and trading without the need for intermediaries like banks. It enables greater accessibility and transparency in financial transactions. Non-Fungible Token (NFT): A Non-Fungible Token (NFT) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content. NFTs have gained popularity in the art and collectibles space. Each NFT has a unique identifier and cannot be exchanged on a one-to-one basis like cryptocurrencies. Interoperability: Interoperability refers to the ability of different blockchain networks or systems to communicate and interact with each other seamlessly. It is important for enabling data and asset transfer between different blockchains and ensuring compatibility between various chains. Consensus Mechanism: A consensus mechanism is a protocol or algorithm used to achieve agreement among participants in a distributed network. Consensus mechanisms ensure that all nodes in a blockchain network agree on the validity of transactions and the order in which they are added to the blockchain. Examples include Proof of Work (PoW) and Proof of Stake (PoS). Proof of Work (PoW): Consensus mechanism where miners solve complex puzzles to validate transactions, ensuring security and immutability by making tampering computationally expensive. Proof of Stake (PoS): Consensus mechanism where validators create blocks based on staked cryptocurrency, promoting energy efficiency, scalability, and faster block validation without intensive computational puzzles. Distributed Ledger Technology (DLT): Distributed Ledger Technology (DLT) is a broader term that encompasses blockchain technology. It refers to a decentralized and distributed database that records and stores transactions across multiple nodes or computers. Blockchain is a specific type of DLT. Cryptocurrency: Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology. Examples of cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH). Gas: Gas refers to the unit of measurement for the computational effort required to execute transactions or smart contracts on the Ethereum blockchain. Gas is paid in Ether (ETH) and helps prevent spam and abuse by requiring users to pay for the computational resources they consume. Oracles: Oracles are services or mechanisms that provide external data to smart contracts on the blockchain. They act as bridges between the blockchain and the real world, enabling smart contracts to interact with off-chain data sources, such as APIs, to make informed decisions and trigger actions based on real-time information. Cross-Chain: Cross-chain refers to the ability to transfer assets or data between different blockchain networks. It involves interoperability and allows users to move assets seamlessly across different blockchains, facilitating increased liquidity and expanding the possibilities for decentralized applications. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Permissionless: Permissionless refers to the openness and accessibility of a blockchain network or protocol. In a permissionless network, anyone can participate, validate transactions, and contribute to the network without requiring explicit permission. This characteristic is a fundamental aspect of many blockchain networks, enabling anyone to join and interact with the network without needing approval from a central authority. Hard Fork: A hard fork is a type of upgrade or change to a blockchain protocol that is not backward compatible with older versions. It requires all participants in the network to upgrade to the new version in order to continue participating. Hard forks can result in a split in the blockchain, creating two separate chains with different rules and potentially leading to the creation of a new cryptocurrency. Halving: Halving is an event that occurs in some cryptocurrencies, such as Bitcoin, where the block reward for miners is reduced by half after a certain number of blocks are mined. This event is programmed into the cryptocurrency’s protocol and is designed to control the issuance of new coins and create scarcity over time. Hashing Algorithm: Hashing is a process used in computing to generate a unique and fixed-size string of characters (hash) from input data of any size. In the context of blockchain, hashing is used to create a digital fingerprint of data, such as transactions or blocks, ensuring their integrity and allowing for easy verification. Hashes are used to confirm the completeness and validity of blockchain transactions. Censorship Resistance: Censorship resistance refers to the ability of a system or platform to resist censorship or control by centralized authorities. In Web3, blockchain-based platforms provide censorship resistance by decentralizing control and allowing users to have ownership and control over their data and transactions. This enables freedom of expression and protects against arbitrary censorship or manipulation. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Immutable Ledger: An immutable ledger refers to a blockchain’s characteristic of being tamper-resistant and unchangeable once data is added to it. Once a transaction or data is recorded on the blockchain, it becomes part of a permanent and transparent history that cannot be altered or deleted. This property ensures the integrity and trustworthiness of the data stored on the blockchain. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Token Standards: Token standards are specific protocols or sets of rules that define the functionality and behavior of tokens on a blockchain. Examples of token standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens (NFTs), and ERC-1155 for multi-token standards. Token standards ensure interoperability and compatibility between different tokens and enable developers to build applications that interact with tokens in a standardized way. Decentralized File Storage: Decentralized file storage refers to the storage of data on a distributed network of nodes, rather than relying on a centralized server or provider. Blockchain-based decentralized file storage systems, such as IPFS (InterPlanetary File System) or Filecoin, allow users to store and retrieve data in a secure, distributed, and censorship-resistant manner. Tokenomics: Tokenomics refers to the economic design and structure of a cryptocurrency or token ecosystem. It encompasses factors such as token supply, distribution, utility, governance mechanisms, and incentives. Tokenomics aims to create a sustainable and balanced ecosystem that aligns the interests of token holders, users, and other stakeholders in the network. Zero-knowledge proofs (ZKPs): ZKPs are cryptographic protocols that allow one party (the prover) to prove the knowledge of a certain piece of information to another party (the verifier) without revealing the actual information itself. The goal of zero-knowledge proofs is to convince the verifier of the truthfulness of a statement without disclosing any additional information beyond the validity of the statement. Ethereum: Ethereum is an open-source, blockchain-based platform that enables developers to build and deploy decentralized applications (dApps). It was proposed by Vitalik Buterin in late 2013 and development was crowdfunded in 2014. Ethereum’s blockchain is fundamentally different from Bitcoin’s blockchain. While Bitcoin’s blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running programming code of any decentralized application Bitcoin: Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency, is a type of money that is completely virtual. It’s like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether. Bitcoin was the first cryptocurrency and remains the most important in the market. It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. ICO: ICO stands for Initial Coin Offering and it’s often used as a fundraiser for new projects. This is where a company looking to raise money to create a new coin, app, or service launches an ICO as a way to raise funds. People who buy into the ICO receive a certain number of tokens in return. ICOs are often compared to IPOs (Initial Public Offerings), but there are some significant differences Public Key: In the world of cryptocurrencies, a public key represents a point on a particular Elliptic Curve (EC) defined in secp256k1. Public keys contain an identification byte, a 32-byte X coordinate, and a 32-byte Y coordinate. They are used in Bitcoin and other cryptocurrencies for generating addresses where funds can be seen Private Key: In cryptocurrencies, a private key allows a user to gain full access to their wallet. The person who holds the private key fully controls the coins in that wallet. For this reason, it should be kept secret. Formally, a private key for Bitcoin (and many other cryptocurrencies) is a series of 32 bytes Stablecoin: Stablecoins are a type of cryptocurrency designed to minimize volatility, a common issue with cryptocurrencies like Bitcoin. They achieve this stability by pegging their market value to an external reference, usually a fiat currency like the US dollar, or a commodity like gold. Some stablecoins maintain reserve assets as collateral, while others use algorithmic formulas to control supply. The primary purpose of stablecoins is to provide a more suitable option for common transactions. Altcoin: The term altcoin refers to all cryptocurrencies other than Bitcoin and, for some, Ethereum. These alternative cryptocurrencies come in various types, each designed for different purposes. While the future value of altcoins is unpredictable, as long as the blockchain they were designed for continues to be used and developed, the altcoins will continue to exist. It’s important to note that while many altcoins offer potential investment opportunities, some are scams or have lost developer and community interest Mainnet: It refers to the main blockchain network of a cryptocurrency, where real transactions and operations take place. It is the live and production-ready network where actual value is exchanged. Mainnet is typically used for real-world applications, and transactions on the mainnet involve real cryptocurrencies. Testnet: on the other hand, is a separate network specifically designed for testing and development purposes. It mimics the functionalities of the mainnet but uses test tokens or simulated cryptocurrencies that have no real-world value. Testnets allow developers and users to experiment, validate, and debug their applications without risking real funds. It provides a safe environment for testing new features, smart contracts, and conducting simulations before deploying on the mainnet. Testnets are crucial for ensuring the reliability and security of applications before they are deployed to the production-ready mainnet. Remix IDE: is an online development environment for writing, testing, and deploying smart contracts on the Ethereum blockchain. It provides a user-friendly interface with a built-in code editor, compiler, debugger, and deployment tools. Remix IDE allows developers to write Solidity smart contracts, interact with contracts using a web3 provider, and test their code using various tools and plugins. It is a popular choice for Ethereum developers due to its simplicity and comprehensive features. Infura/Alchemy: It is a popular service that provides infrastructure and API endpoints for connecting to the Ethereum blockchain. It acts as a web3 provider, allowing developers to interact with the Ethereum network without running a full Ethereum node. Infura simplifies the development process by providing reliable and scalable access to the Ethereum blockchain, eliminating the need for developers to set up and maintain their own infrastructure. It offers various API endpoints, including JSON-RPC and WebSocket, which developers can use to send transactions, retrieve data, and interact with smart contracts. Infura is widely used by developers to integrate Ethereum functionality into their applications and services. Mining: Mining is the process of validating and adding new transactions to a blockchain. It involves solving complex mathematical puzzles to find a new block, which contains a set of transactions. Miners compete with each other to solve these puzzles by using computational power, and the first miner to find the solution gets rewarded with newly minted cryptocurrency tokens. Mining ensures the security, integrity, and decentralization of a blockchain network by preventing double-spending and maintaining consensus among participants. Tokenization: Tokenization is the process of representing real-world assets or rights as digital tokens on a blockchain. It allows for fractional ownership, increased liquidity, and easier transfer of assets. Tokenization has applications in areas such as real estate, art, and finance. Immutable: Immutable means that something is unchangeable or cannot be altered or tampered with. In the context of blockchain, immutability refers to the property of data stored on the blockchain that cannot be modified once it is added to the chain. This ensures the integrity and trustworthiness of the data. Merkle Tree: A hierarchical data structure that enables efficient verification and integrity checks of large datasets. It uses cryptographic hashing to create a tree structure where each node represents the hash of its child nodes, providing an efficient way to verify the integrity of specific data without needing to examine the entire dataset. Byzantine Fault Tolerance: The ability of a distributed system to reach a consensus even in the presence of malicious or faulty nodes. It ensures system resilience by employing redundancy, replication, and consensus algorithms to tolerate failures and prevent malicious actors from compromising the integrity and reliability of the system. ICO (Initial Coin Offering): A fundraising method used by cryptocurrency projects to raise capital. It involves issuing and selling tokens to investors in exchange for cryptocurrencies or fiat currencies, providing early access to the project’s tokens and potential returns on investment. Whitepaper: A detailed document that outlines the concept, technology, goals, and implementation plan of a cryptocurrency project. It provides an in-depth analysis of the project’s vision, technical specifications, tokenomics, and potential impact, serving as a comprehensive guide for investors and stakeholders. Yellowpaper: Similar to a whitepaper, a yellowpaper is a technical document that provides a deeper technical understanding of a cryptocurrency project. It typically delves into the underlying protocols, algorithms, and technical intricacies of the project, providing detailed explanations and specifications for developers and researchers. Fork: A divergence in the blockchain where a single chain splits into two separate chains, resulting in two different versions of the blockchain. Soft Fork: A backward-compatible upgrade to the blockchain protocol where the new rules are more restrictive than the old rules, allowing the new blocks to be accepted by both old and new nodes. Hard Fork: A non-backward-compatible upgrade to the blockchain protocol where the new rules are more permissive than the old rules, resulting in a permanent divergence in the blockchain and two separate chains that are incompatible with each other. XWORLD, a pioneering Web3 App Store, provides a safe and trustworthy platform for users to explore a wide range of dApps and discover the treasure trove of Web3. Visit the XWORLD website (www.xworld.pro) and follow Twitter (https://twitter.com/xworld_pro) to learn more about this exciting platform and embark on your Web3 journey today! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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50+ Web3 and Blockchain Keywords Explained
October 30, 2023

XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users

Theme of Next Bull Market In the ever-evolving sphere of digital technology, the next bull market trend is clear — the large-scale incremental entry of users into Web3, the decentralized future of the Internet. On November 8, 2021, the total market value of the global cryptocurrency market reached an all-time high of $2.9T. Like the dot-com bubble, cryptocurrencies also grew a staggering 6x during this crypto bubble, but this miracle was achieved not in 5 years, but in just 1 year. This is equivalent to the crypto industry going through the entire dotcom bubble in just 12 months. In the following 2022, the cryptocurrency bubble continued to burst, causing the market value of cryptocurrency to plummet by two-thirds to less than $1T, and triggering industry catastrophic events such as the collapse of Terra stablecoin, the bankruptcy of Three Arrows Capital hedge fund, and the bankruptcy and liquidation of FTX. Overall, all major Layer 1 blockchains have seen significant price drops from their November 2021 highs: Bitcoin fell from $68,700 to $20,000, Ethereum fell from $49,000 to $15,000, Solana From $260 to $30, etc. Historical marketcap of the global cryptocurrency industry But as the crypto bubble burst, the use of the underlying technology, blockchain, has undergone some interesting changes. As the price of blockchain technology (as measured by cryptocurrency market capitalization) drops, is the use of blockchain technology also declining? Let’s see again. First, we look at the usage of the Bitcoin blockchain, which accounts for 50% of the entire cryptocurrency market capitalization. During the crypto bubble of 2019–2021, the volume of daily Bitcoin payments (which is a measure of Bitcoin usage) was directly related to the price of Bitcoin — as the price rose and fell, so did the number of payments. It will change accordingly. But starting from the bear market in 2022, as the price of Bitcoin fell by half, the number of Bitcoin payments has remained stable, that is, the price of Bitcoin and the amount of Bitcoin usage have become no longer strongly correlated. Compare daily Bitcoin payments with daily Bitcoin prices A similar trend is occurring on Ethereum, the second-largest blockchain accounting for nearly 20% of the entire cryptocurrency market capitalization. Prior to 2022, Ethereum price and Ethereum usage (this time measured by active addresses, similar to Ethereum’s active users) were directly correlated. But despite the Ethereum price collapse in 2022, the number of active addresses has not declined this year. Likewise, usage becomes uncorrelated with price. Compare daily active Ethereum addresses with daily Ethereum price Leading Solana NFT marketplace Magic Eden has seen rapid growth in transaction volume this year, from an average of 230,000 transactions per day in January to a current average of more than 880,000 transactions per day, according to DappRadar. With the price of Solana falling by more than 80% in 2022, Solana usage (measured by NFT trading activity on Magic Eden) has grown by 280%, another sign that blockchain pricing and usage are becoming irrelevant. Leading the charge in this digital revolution is XWORLD, with an impressive cohort of 1 million active users ready to usher in a new era of online interaction. The same was true for the Internet in 2000, when after a price collapse, Internet usage that had nothing to do with Internet pricing rebounded and continued to grow. Compare monthly Internet users to Nasdaq Composite Index price XWORLD: The Pump for the Next Bull Market XWORLD, a pioneering games and apps monetization platform, stands at the forefront of the Web3 movement. With its one million strong user base, it’s not just prepared for the upcoming bull market; it’s set to fuel it. For those unfamiliar with the term, a “bull market” represents a period of rising prices, increased investor confidence, and strong demand. In the context of Web3, this bullish trend signifies a surge of interest and participation in decentralized platforms and applications. And at the heart of this seismic shift lies XWORLD. The platform’s 1 million active users aren’t just numbers; they are the engine that drives XWORLD’s innovative ecosystem. Each user represents a unique interaction, a unique contribution to the platform’s economy. Together, they form a vibrant community that embodies the very essence of Web3 — decentralization, transparency, and user empowerment. But how does this translate into a bull market? The answer lies in the power of numbers. As more and more people flock to XWORLD, they bring with them their unique skills, interests, and economic potential. They interact with the platform, use its features, contribute to its growth. This influx of users and activities fuels demand, propelling the value of the platform and its assets. In other words, it creates a bull market. This trend is not just a testament to XWORLD’s appeal but also a manifestation of the growing interest in Web3. As digital citizens become more aware of the benefits of decentralized platforms — from transparency and security to the potential for earning and ownership — they are gravitating towards platforms like XWORLD. This mass migration of users is a clear indicator of the impending bull market in Web3. However, XWORLD isn’t just riding this wave; it’s steering it. Through its innovative “use to earn” and “use to own” models, XWORLD is showing users the true potential of Web3. It’s proving that Web3 isn’t just a concept; it works, and it can change lives. As we stand on the cusp of a new digital era, XWORLD is ready to lead the charge. With its 1 million active users and its commitment to Web3 principles, it’s poised to drive the next bull market, transforming the digital landscape in the process. So, are you ready to be part of this revolution? Are you ready to embrace the future of the internet, to be part of a community that’s reshaping the digital world? If the answer is yes, then join the XWORLD revolution. To stay updated on all things XWORLD and to be part of this exciting journey, follow XWORLD on Twitter at https://twitter.com/xworld_pro. Join the 1 million active users who are not just witnessing the future of the internet; they’re creating it. Welcome to XWORLD, the platform that’s powering the Web3 bull market. XWORLD New-Gen Games & Apps Monetization Platform Website | Twitter | Instagram | Facebook |Litepaper
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XWORLD: Pumping the Next Web3 Bull Market with One Million Active Users
July 31, 2023

Complete Guide to Earning Free Crypto in 2023

The last couple of years have marked an increase in the overall public awareness of cryptocurrencies worldwide. In return, a larger number of people have expressed their interest in purchasing or earning digital currencies. While buying your favorite coin via an exchange is likely the easiest way to enter the cryptocurrency market, this industry is full of surprises — therefore a noticeable amount of coin can be earned for free. As such, this article offered by XWORLD will cover the main methods that can be leveraged in order to obtain free crypto. Do keep in mind that most of these methods require a bit of effort, since nothing is ever truly free. However, these methods do not entail having to work a fulltime job, nor do they imply any monetary investment from your part. Free Crypto from Coinbase Earn Coinbase is largely seen as one of the most popular digital currency exchanges, especially in the United States. While the platform facilitates the purchase and sale of crypto, it also offers its users the opportunity to earn several coins, including but not limited to Orchid, Tezos, Dai, EOS, Stellar, Zcash, Basic Attention Token and Ox. For example, at the moment you can earn the following cryptos for free: Orchid: users can earn up to $52 OXT by completing a free course meant to teach you the basics of this privacy-focused coin; Tezos: completing a course on Tezos and learning about its openness, safety or upgradability will earn you $6 XTZ; Dai: a similar course-based offer is available for Dai as well, thus granting course participants $20 DAI; EOS: you can earn up to $50 EOS by completing a course on this coin, and learning more about its goal of facilitating the development of blockchain-based apps; Stellar Lumens: the completion of a quick course on how Stellar connects payment systems, banks and individuals will earn you $50 XLM; Zcash: this coin is known for its privacy-focused philosophy — course completion will grant you an undisclosed amount of ZEC tokens; Basic Attention Token: $8-worth of BAT can be earned by reading on BAT’s vision of fixing the web; 0x: last but not least, educating yourself on OX’s token-based idea of the future web will award you several ZRX tokens. Do keep in mind that there is a catch to these courses. You must be the holder of a Coinbase exchange account, where all tokens will be credited. Earning Free Crypto via Airdrops Airdrops are one of the simplest and most effective methods of earning extra cryptocurrency, especially in the form of newly-announced tokens. The idea behind airdrops is quite simple — innovative and newly-launched projects choose to hold airdrops as an effective marketing strategy, meant to pique the interest of the cryptocurrency community. Participating in an airdrop is bound to be quite simple. It entails owning an active Ethereum wallet that is ERC-20 compatible, an email address, Telegram account, and in some cases, a Twitter account. Once these criteria are met, you will have to look for Initial Coin Offerings (ICOs), Security Token Offerings (STOs), and token-based start-ups that have announced an upcoming airdrop. Most of these platforms will require you to sign-up, by entering your ERC-20 address and email. For marketing purposes, some airdrops may require you to follow them on Twitter, or join the Telegram chat group. This ensures that you’re kept in the loop and quickly become aware of news concerning the token. Recently, KYC&AML regulations have made it mandatory for numerous airdrops to request identifying details. This is due to the money laundering potential associated with these events. Therefore, if you’re keen on protecting your online privacy, airdrops might not be the best choice for you. Recently, numerous wallet providers such as Blockchain.com have started sponsoring airdrops. In other words, you are announced whenever a partner start-up is holding an airdrop of their new tokens, and can earn the tokens directly in your wallet. Similarly, there are numerous websites which scour the web looking for new airdrop events. Following will help ensure that you will be one of the first people to know about upcoming airdrops. Leveraging Bounties for Free Coin Bounties are quite similar to airdrops, in the sense that they represent free coins given away by crypto project developers. There’s one key difference, however — bounties generally imply that you do some type of work in exchange for the coin. With this in mind, here are the main types of bounties, alongside a quick description for each: Bug bounties Bug bounty campaigns are generally well-paid, yet they are only relevant to people who hold development skills. Programmers throughout the world actively attempt to crack the code of online platforms, while also testing for potential bugs. As such, crypto and blockchain-based companies may hold bounty campaigns, where developers analyse platform functionality and report any bugs. Over the last couple of years, there have been numerous instances in which white-hat hackers discovered vulnerabilities or significant bugs in web platforms. In return for this service, and based on the severity of the vulnerability discovered, companies can offer tens of thousands of dollars as compensation. Signature campaigns This marketing strategy is often implemented on forums such as Bitcointalk. In exchange for a monthly bounty, forum users add a specific signature, thus indirectly promoting the products and services of a crypto company. Most businesses holding signature campaigns require forum users to have a higher membership level, which can be obtained through frequent high-quality posts. In return for buying the signature space, companies offer a monthly bounty in tokens. Translations Crypto start-ups are always interested in having their content translated into multiple languages. Since many start-ups run on a limited budget, a good method to go about this is to launch a translation bounty. Here, native users translate specific portions of text, in exchange for a number of tokens. Social media, images, blog posts and video bounties Last but not least, we also have other promotional bounties. Some companies may ask you to write and post a positive article on their services, whereas others may require you to edit videos, share posts on social media, or create promotional images. Based on these aspects, bounties do, in fact, represent a method of earning free tokens, yet they imply actual work. Luckily, the work is generally quite easy (apart from bug bounties), and can be completed rather quickly. Affiliate Marketing and Referrals At this point in time, most experts define affiliate marketing as the process associated with promoting products and services of various companies, in exchange for a commission on each sale. A recent research study concluded that US-based affiliate spending may reach $6.8 billion by the end of 2020. As such, affiliate marketing represents a significant revenue stream for numerous companies, especially those which operate in the online ecosystem. Therefore, it only makes sense that numerous crypto and blockchain-related businesses have launched their very own affiliate marketing campaigns. Getting involved is bound to be simple — in most instances, you need an account, and a personalized link, which can be shared across the web. Any service or product that is purchased using your affiliate link or referral code will be credited with a percentage of the sale. Affiliate marketing can earn you free cryptocurrency as long as you are active online. This implies sharing the link as part of valuable content on a variety of platforms, such as crypto discussion forums, Reddit, YouTube, Facebook, Twitter, Instagram, or your personal blog. The possibilities are endless. Your success depends directly on the size of your audience and your overall online reach. However, this means that actual work needs to be carried out in order to get this free crypto. On the other hand, once your links are live, affiliate marketing becomes a lucrative source of passive income, which can be leveraged for a prolonged period of time. To put things into perspective, here are several crypto-related affiliate campaigns: Coinbase: if new users sign up using your personalized affiliate link, you are eligible to obtain 50% of the fees charged by the exchange platform for all transactions; TREZOR: this platform offers 10% of net sales carried out by users who have signed up using your referral; Ledger: this affiliate program promises to credit 12% — 15% of all sales; LocalBitcoins: you can expect to earn 20% of the trading fee associated with each transaction that is carried out by referred users; Binance: this exchange platform offers 20%-40% commissions on transaction fees. Do keep in mind the fact that these conditions may be modified unilaterally by the website. Therefore, it is always recommended that you carry out your due diligence, and carefully research the affiliate marketing conditions associated with each of the examples given above. Additionally, note that this list isn’t exhaustive — in fact, there are hundreds of crypto-related affiliate opportunities on the market at this moment. It certainly isn’t unusual for affiliate marketing to become a main income stream, especially if done right. People have reported earning hundreds of thousands of dollars monthly using affiliate marketing strategies. Given the fact that we are referring to the digital currency market, your income potential is further increased by crypto price volatility. However, this entails that you treat it as a fulltime job until enough of your links are published on the web. Earn BTC/ETH/PEPE etc. in XWORLD Play Games and Earn: In XWORLD, you have the opportunity to play any games you love and earn rewards in the form of token BUILD. Whether you enjoy action-packed adventures, strategic puzzles, or immersive simulations, there’s a game for everyone. The more you play, the more BUILD tokens you accumulate, bringing you one step closer to earning Bitcoin, ETH, or PEPE. Complete Quests and Challenges: XWORLD offers a variety of quests and challenges that test your skills and reward your efforts. By successfully completing these quests, you can earn additional BUILD tokens. Engage in thrilling missions, solve mysteries, or conquer difficult obstacles to unlock valuable rewards. The harder the challenge, the greater the potential for earning Bitcoin, ETH, or PEPE. Join PvP Competitions: Are you a competitive gamer? XWORLD provides exciting player-versus-player (PvP) competitions where you can showcase your skills and earn rewards. Participate in thrilling battles against other players, climb the leaderboards, and emerge victorious. As you progress in PvP, you’ll earn BUILD tokens, which can be invested in the dividend pool to earn Bitcoin, ETH, or PEPE. Invest in the Dividend Pool: XWORLD offers a unique opportunity to invest your earned BUILD tokens in the dividend pool. By contributing to the pool, you become eligible to receive a share of the dividends, which include Bitcoin, ETH, or PEPE. The more BUILD tokens you invest, the higher your potential earnings. It’s a smart way to grow your cryptocurrency portfolio while enjoying the immersive gaming experience XWORLD has to offer. Reap the Rewards: As you accumulate BUILD tokens and invest in the dividend pool, you’ll start reaping the rewards in the form of Bitcoin, ETH, or PEPE. Watch your cryptocurrency holdings grow as you continue to engage with XWORLD’s games, quests, and PvP competitions. It’s an exciting and rewarding journey where your passion for gaming can translate into tangible digital assets. Keep an Eye Out for Scams Over the last couple of years, the popularity of the cryptocurrency market has increased exponentially. The rise in public awareness was mostly fuelled by intense volatility, and record-breaking prices. With this in mind, the market is still seen as a way to get rich quickly. While there is significant money-making potential in crypto, this perception has led to the appearance of numerous scams, meant to fraud people out of their money. Whenever dealing in crypto, there are two aspects worth keeping in mind: if an offer sounds too good to be true, it probably is. Also, you should never risk more than you can afford to lose. Cybersecurity practices dictate that it’s best to always carry out in-depth research on any platform or service that you decide to use. Similarly, you should never give out your personal details or private keys to third parties. Protection against scams and other forms of fraudulent activity is basically non-existent, whereas transactions are irreversible, therefore due diligence is essential. Remember, XWORLD is not just a gaming platform; it’s a gateway to earning valuable cryptocurrencies. So, jump into the world of XWORLD, play your favorite games, complete quests, join PvP battles, earn BUILD tokens, and invest wisely to unlock the potential of earning Bitcoin, ETH, or PEPE. Start your journey today and experience the thrill of earning crypto while doing what you love. Testnet has been launched in Southeast Asia. Download: https://play.google.com/store/apps/details?id=pro.xworld.app Join the XWORLD Community Ready to explore the limitless possibilities of XWORLD? Visit the official website, follow XWORLD on Twitter (@xworld_pro) to stay updated on the latest news, releases, and opportunities. Don’t miss out on this exciting revolution in gaming and beyond! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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Complete Guide to Earning Free Crypto in 2023
August 1, 2023

50+ Web3 and Blockchain Keywords Explained

Web3.0: Web3.0, also known as Web3, refers to the next generation of the internet that incorporates decentralized technologies such as blockchain, cryptocurrencies, and peer-to-peer networks. Web3.0 aims to empower users with more control over their data, privacy, and online interactions. It envisions a more open, transparent, and user-centric internet. Decentralization: Decentralization refers to the distribution of control and decision-making across a network, rather than being held by a central authority. In the context of Web3 and blockchain, decentralization is a key principle that aims to eliminate the need for intermediaries and allows participants to have more control over their data and transactions. Smart Contract: A smart contract is a self-executing contract with the terms of the agreement directly written into code. Smart contracts are deployed on blockchain platforms and automatically execute predefined actions when certain conditions are met. They enable trustless and transparent interactions between parties. Decentralized Finance (DeFi): Decentralized Finance (DeFi) refers to the use of blockchain technology and smart contracts to recreate traditional financial systems in a decentralized manner. DeFi aims to provide financial services such as lending, borrowing, and trading without the need for intermediaries like banks. It enables greater accessibility and transparency in financial transactions. Non-Fungible Token (NFT): A Non-Fungible Token (NFT) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content. NFTs have gained popularity in the art and collectibles space. Each NFT has a unique identifier and cannot be exchanged on a one-to-one basis like cryptocurrencies. Interoperability: Interoperability refers to the ability of different blockchain networks or systems to communicate and interact with each other seamlessly. It is important for enabling data and asset transfer between different blockchains and ensuring compatibility between various chains. Consensus Mechanism: A consensus mechanism is a protocol or algorithm used to achieve agreement among participants in a distributed network. Consensus mechanisms ensure that all nodes in a blockchain network agree on the validity of transactions and the order in which they are added to the blockchain. Examples include Proof of Work (PoW) and Proof of Stake (PoS). Proof of Work (PoW): Consensus mechanism where miners solve complex puzzles to validate transactions, ensuring security and immutability by making tampering computationally expensive. Proof of Stake (PoS): Consensus mechanism where validators create blocks based on staked cryptocurrency, promoting energy efficiency, scalability, and faster block validation without intensive computational puzzles. Distributed Ledger Technology (DLT): Distributed Ledger Technology (DLT) is a broader term that encompasses blockchain technology. It refers to a decentralized and distributed database that records and stores transactions across multiple nodes or computers. Blockchain is a specific type of DLT. Cryptocurrency: Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology. Examples of cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH). Gas: Gas refers to the unit of measurement for the computational effort required to execute transactions or smart contracts on the Ethereum blockchain. Gas is paid in Ether (ETH) and helps prevent spam and abuse by requiring users to pay for the computational resources they consume. Oracles: Oracles are services or mechanisms that provide external data to smart contracts on the blockchain. They act as bridges between the blockchain and the real world, enabling smart contracts to interact with off-chain data sources, such as APIs, to make informed decisions and trigger actions based on real-time information. Cross-Chain: Cross-chain refers to the ability to transfer assets or data between different blockchain networks. It involves interoperability and allows users to move assets seamlessly across different blockchains, facilitating increased liquidity and expanding the possibilities for decentralized applications. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Decentralized Autonomous Organization (DAO): A Decentralized Autonomous Organization (DAO) is an organization that operates through smart contracts on a blockchain. It is governed by a set of predefined rules and decisions are made through voting by token holders. DAOs aim to eliminate the need for traditional hierarchical structures and allow for decentralized decision-making. Layer 2 Scaling: Layer 2 scaling solutions are techniques or protocols built on top of existing blockchains to improve scalability and increase transaction throughput. They aim to handle a larger number of transactions off-chain or in a more efficient manner, reducing congestion and lowering transaction costs. Examples of layer 2 scaling solutions include state channels and sidechains. Permissionless: Permissionless refers to the openness and accessibility of a blockchain network or protocol. In a permissionless network, anyone can participate, validate transactions, and contribute to the network without requiring explicit permission. This characteristic is a fundamental aspect of many blockchain networks, enabling anyone to join and interact with the network without needing approval from a central authority. Hard Fork: A hard fork is a type of upgrade or change to a blockchain protocol that is not backward compatible with older versions. It requires all participants in the network to upgrade to the new version in order to continue participating. Hard forks can result in a split in the blockchain, creating two separate chains with different rules and potentially leading to the creation of a new cryptocurrency. Halving: Halving is an event that occurs in some cryptocurrencies, such as Bitcoin, where the block reward for miners is reduced by half after a certain number of blocks are mined. This event is programmed into the cryptocurrency’s protocol and is designed to control the issuance of new coins and create scarcity over time. Hashing Algorithm: Hashing is a process used in computing to generate a unique and fixed-size string of characters (hash) from input data of any size. In the context of blockchain, hashing is used to create a digital fingerprint of data, such as transactions or blocks, ensuring their integrity and allowing for easy verification. Hashes are used to confirm the completeness and validity of blockchain transactions. Censorship Resistance: Censorship resistance refers to the ability of a system or platform to resist censorship or control by centralized authorities. In Web3, blockchain-based platforms provide censorship resistance by decentralizing control and allowing users to have ownership and control over their data and transactions. This enables freedom of expression and protects against arbitrary censorship or manipulation. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Immutable Ledger: An immutable ledger refers to a blockchain’s characteristic of being tamper-resistant and unchangeable once data is added to it. Once a transaction or data is recorded on the blockchain, it becomes part of a permanent and transparent history that cannot be altered or deleted. This property ensures the integrity and trustworthiness of the data stored on the blockchain. Decentralized Exchange (DEX): A decentralized exchange is a type of cryptocurrency exchange that operates on a blockchain network without the need for intermediaries or a central authority. DEXs allow users to trade cryptocurrencies directly with each other, using smart contracts for order matching and execution. They provide increased privacy, security, and control over assets compared to centralized exchanges. Token Standards: Token standards are specific protocols or sets of rules that define the functionality and behavior of tokens on a blockchain. Examples of token standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens (NFTs), and ERC-1155 for multi-token standards. Token standards ensure interoperability and compatibility between different tokens and enable developers to build applications that interact with tokens in a standardized way. Decentralized File Storage: Decentralized file storage refers to the storage of data on a distributed network of nodes, rather than relying on a centralized server or provider. Blockchain-based decentralized file storage systems, such as IPFS (InterPlanetary File System) or Filecoin, allow users to store and retrieve data in a secure, distributed, and censorship-resistant manner. Tokenomics: Tokenomics refers to the economic design and structure of a cryptocurrency or token ecosystem. It encompasses factors such as token supply, distribution, utility, governance mechanisms, and incentives. Tokenomics aims to create a sustainable and balanced ecosystem that aligns the interests of token holders, users, and other stakeholders in the network. Zero-knowledge proofs (ZKPs): ZKPs are cryptographic protocols that allow one party (the prover) to prove the knowledge of a certain piece of information to another party (the verifier) without revealing the actual information itself. The goal of zero-knowledge proofs is to convince the verifier of the truthfulness of a statement without disclosing any additional information beyond the validity of the statement. Ethereum: Ethereum is an open-source, blockchain-based platform that enables developers to build and deploy decentralized applications (dApps). It was proposed by Vitalik Buterin in late 2013 and development was crowdfunded in 2014. Ethereum’s blockchain is fundamentally different from Bitcoin’s blockchain. While Bitcoin’s blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running programming code of any decentralized application Bitcoin: Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency, is a type of money that is completely virtual. It’s like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether. Bitcoin was the first cryptocurrency and remains the most important in the market. It was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. ICO: ICO stands for Initial Coin Offering and it’s often used as a fundraiser for new projects. This is where a company looking to raise money to create a new coin, app, or service launches an ICO as a way to raise funds. People who buy into the ICO receive a certain number of tokens in return. ICOs are often compared to IPOs (Initial Public Offerings), but there are some significant differences Public Key: In the world of cryptocurrencies, a public key represents a point on a particular Elliptic Curve (EC) defined in secp256k1. Public keys contain an identification byte, a 32-byte X coordinate, and a 32-byte Y coordinate. They are used in Bitcoin and other cryptocurrencies for generating addresses where funds can be seen Private Key: In cryptocurrencies, a private key allows a user to gain full access to their wallet. The person who holds the private key fully controls the coins in that wallet. For this reason, it should be kept secret. Formally, a private key for Bitcoin (and many other cryptocurrencies) is a series of 32 bytes Stablecoin: Stablecoins are a type of cryptocurrency designed to minimize volatility, a common issue with cryptocurrencies like Bitcoin. They achieve this stability by pegging their market value to an external reference, usually a fiat currency like the US dollar, or a commodity like gold. Some stablecoins maintain reserve assets as collateral, while others use algorithmic formulas to control supply. The primary purpose of stablecoins is to provide a more suitable option for common transactions. Altcoin: The term altcoin refers to all cryptocurrencies other than Bitcoin and, for some, Ethereum. These alternative cryptocurrencies come in various types, each designed for different purposes. While the future value of altcoins is unpredictable, as long as the blockchain they were designed for continues to be used and developed, the altcoins will continue to exist. It’s important to note that while many altcoins offer potential investment opportunities, some are scams or have lost developer and community interest Mainnet: It refers to the main blockchain network of a cryptocurrency, where real transactions and operations take place. It is the live and production-ready network where actual value is exchanged. Mainnet is typically used for real-world applications, and transactions on the mainnet involve real cryptocurrencies. Testnet: on the other hand, is a separate network specifically designed for testing and development purposes. It mimics the functionalities of the mainnet but uses test tokens or simulated cryptocurrencies that have no real-world value. Testnets allow developers and users to experiment, validate, and debug their applications without risking real funds. It provides a safe environment for testing new features, smart contracts, and conducting simulations before deploying on the mainnet. Testnets are crucial for ensuring the reliability and security of applications before they are deployed to the production-ready mainnet. Remix IDE: is an online development environment for writing, testing, and deploying smart contracts on the Ethereum blockchain. It provides a user-friendly interface with a built-in code editor, compiler, debugger, and deployment tools. Remix IDE allows developers to write Solidity smart contracts, interact with contracts using a web3 provider, and test their code using various tools and plugins. It is a popular choice for Ethereum developers due to its simplicity and comprehensive features. Infura/Alchemy: It is a popular service that provides infrastructure and API endpoints for connecting to the Ethereum blockchain. It acts as a web3 provider, allowing developers to interact with the Ethereum network without running a full Ethereum node. Infura simplifies the development process by providing reliable and scalable access to the Ethereum blockchain, eliminating the need for developers to set up and maintain their own infrastructure. It offers various API endpoints, including JSON-RPC and WebSocket, which developers can use to send transactions, retrieve data, and interact with smart contracts. Infura is widely used by developers to integrate Ethereum functionality into their applications and services. Mining: Mining is the process of validating and adding new transactions to a blockchain. It involves solving complex mathematical puzzles to find a new block, which contains a set of transactions. Miners compete with each other to solve these puzzles by using computational power, and the first miner to find the solution gets rewarded with newly minted cryptocurrency tokens. Mining ensures the security, integrity, and decentralization of a blockchain network by preventing double-spending and maintaining consensus among participants. Tokenization: Tokenization is the process of representing real-world assets or rights as digital tokens on a blockchain. It allows for fractional ownership, increased liquidity, and easier transfer of assets. Tokenization has applications in areas such as real estate, art, and finance. Immutable: Immutable means that something is unchangeable or cannot be altered or tampered with. In the context of blockchain, immutability refers to the property of data stored on the blockchain that cannot be modified once it is added to the chain. This ensures the integrity and trustworthiness of the data. Merkle Tree: A hierarchical data structure that enables efficient verification and integrity checks of large datasets. It uses cryptographic hashing to create a tree structure where each node represents the hash of its child nodes, providing an efficient way to verify the integrity of specific data without needing to examine the entire dataset. Byzantine Fault Tolerance: The ability of a distributed system to reach a consensus even in the presence of malicious or faulty nodes. It ensures system resilience by employing redundancy, replication, and consensus algorithms to tolerate failures and prevent malicious actors from compromising the integrity and reliability of the system. ICO (Initial Coin Offering): A fundraising method used by cryptocurrency projects to raise capital. It involves issuing and selling tokens to investors in exchange for cryptocurrencies or fiat currencies, providing early access to the project’s tokens and potential returns on investment. Whitepaper: A detailed document that outlines the concept, technology, goals, and implementation plan of a cryptocurrency project. It provides an in-depth analysis of the project’s vision, technical specifications, tokenomics, and potential impact, serving as a comprehensive guide for investors and stakeholders. Yellowpaper: Similar to a whitepaper, a yellowpaper is a technical document that provides a deeper technical understanding of a cryptocurrency project. It typically delves into the underlying protocols, algorithms, and technical intricacies of the project, providing detailed explanations and specifications for developers and researchers. Fork: A divergence in the blockchain where a single chain splits into two separate chains, resulting in two different versions of the blockchain. Soft Fork: A backward-compatible upgrade to the blockchain protocol where the new rules are more restrictive than the old rules, allowing the new blocks to be accepted by both old and new nodes. Hard Fork: A non-backward-compatible upgrade to the blockchain protocol where the new rules are more permissive than the old rules, resulting in a permanent divergence in the blockchain and two separate chains that are incompatible with each other. XWORLD, a pioneering Web3 App Store, provides a safe and trustworthy platform for users to explore a wide range of dApps and discover the treasure trove of Web3. Visit the XWORLD website (www.xworld.pro) and follow Twitter (https://twitter.com/xworld_pro) to learn more about this exciting platform and embark on your Web3 journey today! Join our community for more: Website | Twitter | Instagram | Facebook |Litepaper Enjoy Your Passionate Game Time, Every Second Becomes Your Income.
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50+ Web3 and Blockchain Keywords Explained
2023 State of Crypto Report: Introducing the State of Crypto Index
August 10, 2023

2023 State of Crypto Report: Introducing the State of Crypto Index

Emerging technologies evolve in cycles; in crypto, this includes periods of high activity, followed by so-called crypto winters. In the period marked by our now-annual State of Crypto report, it would be easy for a casual observer to overlook the rapid progress the crypto industry is making. Major infrastructure improvements like The Merge – a momentous achievement in decentralized and open source development – simply don’t make headlines as often as high-profile bankruptcies, busts, and flameouts. a16z's 2023 report aims to address the imbalance between the noise of fleeting price movements – and the data that tracks the signals that matter, including the durable progress of web3 technology. Overall, the report reflects a healthier industry than market prices may indicate, and a steady cycle of development, product launches, and ongoing innovation. Download the full report This year, we’re also introducing something *new*: the State of Crypto Index, an interactive tool to track the health of the crypto industry from a technological, rather than financial, perspective. To offer a more accurate and nuanced measure of the state of crypto, the index represents the weighted average monthly growth of 14 industry metrics – from the number of verified smart contracts to the number of transacting wallets and more. In other words, the index displays, in a single chart, the rate of innovation and adoption of web3. The tool is also interactive, so you can tweak the parameters to form your own views. Explore the index Some key takeaways: Blockchains have more active users, and more ways to engage. Active addresses hit an all-time high last month – 15 million – doubling over the last two years, as a growing variety of apps and services, like on-chain games, offer people new ways to engage. DeFi and NFT activity appear to be rising again as promising new uses and applications emerge. After a frenetic speculative period and subsequent cooldown, more people seem to be buying NFTs in recent months. Meanwhile, on decentralized exchanges, more than $100 billion traded last month, marking the third consecutive month of positive growth in trading volume. The number of active developers in the crypto industry has held steady. Builders drawn in by the 2020 bull run are sticking around. Almost 30K developers contributed to, or built on, crypto projects last month – steadily increasing over 60% in the last three years. Blockchains are scaling through promising new paths. A proliferation of protocols and projects are working to scale blockchains, facilitating more transactions using a number of different approaches and technologies. Last year, “Layer 2” (L2) scaling solutions accounted for 1.5% of the total fees paid on Ethereum. Today: 7%. New technologies, once practically impossible, are becoming very real. We’re seeing decades-in-the-making work on “zero knowledge” systems advance at a staggering pace, which will unlock further blockchain scalability and a new category of privacy-protecting applications (not to mention applications in AI). The data shows a positive trend in ZK-related research, developer activity, and usage. The U.S. is losing its lead in web3. Between 2018 and 2022, the proportion of crypto developers based in the U.S. vs. the rest of the world fell 26%. Thoughtful regulation can encourage crypto builders to innovate and grow these technologies safely in the U.S. Zooming out shows progress across key indicators. Market cap, developer activity, and funding activity have all increased steadily over the last decade. Stepping back from short-term volatility reveals a more predictable pattern: a price-innovation cycle where price swings propel new ideas forward. Want a deeper dive? Subscribe to the ‘web3 with a16z’ podcast Sign up for the a16z crypto newsletter 7 takeaways from the State of Crypto 2023 1. Blockchains have more active users, and more ways to engage Prices have steadied this year from the dizzying highs of 2021. The industry seems to be settling: speculation has cooled, and the story of how people durably, organically use and interact with web3 is starting to unfold. We’re seeing more monthly active addresses – unique addresses transacting on-chain each month – than ever. Last month we saw 15 million sending addresses, more than twice as many as two years ago when prices were still elevated. One possible explanation: There are increasingly more ways to engage with blockchains and web3 applications. From DeFi to web3 games – more than 700 of which launched last year – a variety of new applications create addresses for their users to interact with, without having to download or connect a wallet. Better tooling and scaling technologies are also attracting more transactions with lower gas fees. Notably, the total number of blockchain transactions has grown by over 50% in the past two years. 2. DeFi and NFT activity appears to be rising again Activity across DeFi and NFTs, meanwhile, seems to be on the rise again after falling from the fizzy highs of 2021. As speculation cooled, more organic uses seem to have emerged, across lending, remittances, art, collectibles, on-chain gaming, and more. Still, the promise of NFTs and decentralized finance – to transform the economics of the internet – endures. In recent months, for example, we’ve seen an uptick in both NFT buyers and DEX volume. In fact, Uniswap – a decentralized exchange – has seen higher trading volume than Coinbase – the largest centralized exchange in the U.S. – for the last two consecutive months. Users and creators benefit from web3’s structurally lower “take rates” (that is, the share of revenue that platform owners take from users). In crypto, users genuinely own their digital goods and can, importantly, bring these goods to any platform they please. The easier it is for people to switch platforms, the more competition can heat up, and the less platforms can extract from users (or suddenly change the rules on them). Low platform pricing power often leads to lower take rates. In the last two years, NFT marketplaces have paid out nearly $2 billion worth of royalties in secondary sales to creators. Compare that to web2, where Meta, for instance, earmarked $1 billion for creators through 2022. This comparison is all the more stunning considering that Meta’s platforms – Facebook, Instagram, WhatsApp, and more – have around 3.74 billion monthly users compared to the estimated tens of millions of web3 users today. It’s worth noting that web3 take rates are, if anything, trending downward over time. While web3 creator royalties are in flux as best practices and technologies evolve in the space, we expect even more innovation and experimentation here. 3. The number of active developers in the crypto industry has held steady Prices can be misleading, particularly without looking under the hood of web3 technology at its dynamic – and growing – ecosystem of builders. Notably, there was, and continues to be, sustained development across crypto. There are nearly 30K monthly active developers in the crypto industry today. And a steady increase of 60% since the start of the bull run in 2020 indicates that developers that may have been attracted by rising prices are sticking around. As far as what they’re building: nearly 50K unique addresses deployed smart contracts last month, a 40% rise just this year. More of these contracts were verified, and more core developer libraries were used to interact with them, than we’ve ever tracked. A key feature of crypto – an open source, decentralized computing platform – is that projects can act as a multiplier when their composable components are reused, recycled, and adapted by others. Composability is to software (as a16z crypto founder and managing partner Chris Dixon says) as compounding interest is to finance: an exponential force. “There are various exponential forces in the world to look out for, as they can be indicators of rapid future growth. In hardware, the most powerful exponential force is Moore’s Law. In finance, it’s compounding interest. In software, it’s composability.” Consider Uniswap: it started as a protocol for exchanging tokens, and it has developed into critical infrastructure enabling an ecosystem of new DeFi applications. 4. Blockchains are scaling through promising new paths Blockchain scaling welcomes more people, more transactions, and more complex applications into the fold. Now we’re seeing many promising new paths; it’s a dynamic design space for web3 developers trying to solve foundational challenges. Let’s start with “Layer 2” blockchains: the technology designed to scale underlying Layer 1 blockchains, like Ethereum, by offering up more blockspace, increasing transaction throughput, and lowering fees. Last year L2s accounted for 1.5% of the fees paid on Ethereum. That share has since more than quadrupled to 7% of the total fees paid on Ethereum – indicating that more applications are choosing to build on L2s. We expect this trend to continue, and benefit end users. Finally, one of the most momentous events in the history of open source development – given the scope of the challenge, the nature of the distributed coordination, and more – took place last fall. Ethereum underwent a major upgrade when the network transitioned from “proof-of-work” to a “proof-of-stake” consensus mechanism. “The Merge” marked an architectural shift that massively reduced Ethereum’s energy footprint: Compare this to web2 giants: YouTube consumes an estimated 244 Terawatt hours annually, or 94,000x as much energy per year as Ethereum. 5. New technologies, once practically impossible, are becoming very real Over the last year we have seen rapid progress in the field of “zero knowledge” systems — powerful, foundational technologies that unlock blockchain scalability, along with a proliferation of new use cases including privacy-preserving applications and verifiable compute that could enable decentralized machine learning/AI. These systems (including zero knowledge proofs) involve cryptographic methods for proving or verifying a set of facts is true without revealing any information about those facts. This work, decades in the making, has moved from theory to practice in the last few years. We seem to see the technology following “Moore’s Law”-like paces here. Though evaluating benchmarks requires a lot of nuance, the acceleration of progress, from provers and verifiers to circuits and hardware and more is incredibly promising. 6. The U.S. is losing its lead in web3 As a set of emerging technologies, crypto needs thoughtful policy and regulatory guardrails to safely grow and meet its economic potential for the U.S. economy. There has been much debate, but little regulatory clarity, which has hindered web3’s growth. As a result, America’s edge may be slipping. Between 2018 and 2022, the proportion of crypto developers based in the U.S. vs. the rest of the world fell 26%. There are some positive signs, however – including a growing, bipartisan push for legislation that could provide much-needed clarity. We hope that this momentum will continue, and that policymakers will fight for the future and the potential of these technologies. 7. Zooming out shows progress We’re still early in web3, but we’re no longer at the beginning. Stepping back from short-term volatility reveals a more predictable pattern: a steady product cycle that is distinctly different from the financial cycles that saturate media attention. We’ve underscored the significance of the “price-innovation cycle” – the observation that prices and development activity are intertwined in a positive feedback loop – many times; it’s a useful mental model for navigating market cycles and understanding the indicators driving them. When crypto prices rise, more people get interested and join in. The attention, in turn, inspires (and funds) new ideas, startups, and projects, some of which lead to greater adoption in the long term. Over time, these cycles move the industry forward in technological waves. We may be in the middle of the fourth such cycle since Bitcoin’s inception in 2009. Taking a longer view suggests many indicators appear to be trending steadily upward. This is why focusing on short-term market movements – and not enough on underlying technology trends – obscures the bigger picture. It’s also why we asked ourselves: What if there were a way to track durable progress along more meaningful dimensions than financials alone? So we created the State of Crypto Index, a regularly updated and interactive index to track the industry’s growth. More specifically, the index shows the weighted average monthly growth among a set of key industry metrics. Alongside the index, you can view all the metrics – a collection of supply-side and demand-side measurements that serve as indicators of web3 innovation and adoption, respectively – and the assumptions under which they’re blended. ***