Gamifi and Blockchain Gaming

Gamifi combines gaming with decentralized finance (DeFi), offering unique value in blockchain games. These games, whether on-chain or off-chain, leverage blockchain technology to provide transparency, security, and ownership of in-game assets. On-chain games operate entirely on the blockchain, ensuring complete transparency and decentralization, while off-chain games handle most operations off-chain, recording essential data on-chain for security.

Challenges in Blockchain Gaming: Scalability and Cheating

Despite their benefits, blockchain games face challenges like scalability, high transaction costs, and the potential for cheating. These issues stem from the fact that traditional gaming was primarily focused on entertainment, with less emphasis on fairness or security. However, with the integration of finance, investors are now seeking returns on their investments, which influences developers’ priorities and introduces new challenges. Addressing these issues is crucial for the growth and long-term success of blockchain gaming.

The Evolution of Blockchain Games: From Basic to Engaging

Currently, many blockchain games are basic or lack the engagement of traditional games, resembling early-stage developments. Yet, projects are actively seeking solutions to overcome these limitations. The most promising approach involves the intelligent use of blockchain to verify ownership and register important data, without requiring constant updates that lead to high costs. The goal is for games to utilize blockchain validation in meaningful ways, improving fairness and securing economic rewards rather than relying on it unnecessarily.

Fair Play and the Frustration of Uncertainty

One of the most frustrating aspects of blockchain gaming is the uncertainty of whether other players are cheating, which can demotivate those who are participating fairly. In tournaments where real rewards, such as cryptocurrency or NFTs, are at stake, this becomes a serious concern. Players often invest in NFTs to gain access to these competitions, which can offer significant prizes to the winners. The use of Layer 2 solutions in these games helps keep transaction costs low, making participation more accessible.

Direct Interaction with Developers: A Web3 Advantage

What makes web3 unique is the opportunity it offers for direct communication with developers. In some cases, players can connect with the game’s creators to report issues or even suggest improvements. This interaction can lead to unexpected rewards, whether it’s recognition in the community or even financial incentives. For example, players who help build better tools to detect cheating or contribute to the game’s development may find themselves earning more than just the advertised prize. This collaborative spirit is a key element of the evolving web3 gaming landscape, where transparency and community engagement go hand in hand with innovation and fair play.

Proposed Solutions for Ensuring Fair Play

1. Smart Contract-Based Rules Enforcement: Utilizing smart contracts to automate and enforce the rules of the game ensures fairness and transparency. These contracts can execute predefined actions when certain conditions are met, such as distributing rewards or verifying in-game actions, without the need for manual intervention. By leveraging the immutability and transparency of blockchain, smart contracts can provide a trustless environment where players can compete fairly.
2. Decentralized Governance: Implementing decentralized governance allows the gaming community to have a say in how the game evolves and how rules are enforced. Token-based voting systems or DAOs (Decentralized Autonomous Organizations) can give players a voice in decision-making processes, ensuring that the game remains fair and balanced for all participants. This community-driven approach helps maintain transparency and reduces the likelihood of centralized control leading to unfair practices.
3. Auditable Code and Open-Source Development: Open-source development practices allow for transparency and community auditing of the game’s code. When game mechanics and smart contracts are open to public scrutiny, it becomes easier to identify potential exploits or unfair practices. The community can contribute to fixing issues, ensuring that the game remains secure and fair for everyone involved.
4. Automated Detection Systems: Implementing machine learning and data analysis to detect suspicious activities can help identify cheaters in real time. By analyzing player behavior patterns, such systems can flag unusual actions that deviate from normal gameplay, enabling developers to take action before the integrity of the game is compromised. These automated detection systems can provide a proactive approach to maintaining fair play.
5. Reputation Systems: Integrating reputation systems that reward honest players and penalize those engaging in unfair practices can incentivize fair play. Reputation scores can be tied to a player’s wallet address or identity, and poor behavior can result in penalties or restrictions. This approach helps create a culture of fairness where players are encouraged to compete honestly to maintain their standing within the community.
6. Secure Economic Incentives: Economic incentives must be carefully designed to minimize the risk of exploitation. Games should implement secure mechanisms that prevent the abuse of rewards and ensure that players earn based on merit. This can be achieved by using a combination of smart contracts, reputation systems, and community governance to oversee the distribution of rewards.
7. Automated Alerts and Strikes: Implementing automatic alerts for suspicious actions gives players the opportunity to communicate directly from the alert and justify their behavior. This fair warning system encourages transparency by allowing players to address any flagged behavior before penalties are applied. Players could receive a certain number of “strikes” before sanctions are enforced, ensuring they have a chance to rectify their actions.
8. Minimum Requirements for Tournaments: Depending on the type of tournament, it could be beneficial to implement minimum requirements, such as a reputation score, or even a Know Your Customer (KYC) verification. This ensures that participants meet a certain level of credibility and trustworthiness, enhancing the integrity of the competition. Using systems like Gitcoin passports or identity verification processes can help reduce the risk of fraudulent activity in higher-stakes tournaments.
9. Live Skill Verification for Prize Distribution: To ensure that prizes are awarded fairly and to prevent exploitation, live video calls can be used to verify the skills of top contestants. This process allows organizers to confirm that the top players have achieved their results legitimately, by performing the same actions in a live, monitored environment. This can help establish a level of trust and transparency during the prize distribution process, particularly in high-value tournaments.

These proposed solutions aim to create a more secure and equitable environment for blockchain games. By addressing the unique challenges of this emerging industry, developers can build games that not only provide entertainment but also offer financial opportunities in a fair and transparent manner.

Numerous tutorials exist on becoming an Ethereum validator from home, and I’ve chosen to follow one in particular to set up my own validator. The purpose of this blog entry is to share my experience throughout this process, offering a unique perspective for those interested in trying it out.

A few years ago, I ventured into GPU mining using Proof of Work technology. However, towards the end, this activity ceased to be profitable, in addition to causing considerable wear on the hardware and high energy consumption. Subsequently, Ethereum transitioned to Proof of Stake, eliminating the need for GPUs and significantly reducing the energy consumption to maintain the blockchain. Despite this, the new conditions imply higher costs. Even so, exploring new processes and technologies always proves enriching and educational.

For several years in the web3 ecosystem and attending Ethereum-related events, I have always been fascinated by the idea of having a node and becoming an Ethereum network validator, thus contributing to decentralization and delving into more advanced technical aspects. However, there are economic barriers that can be challenging for those interested.

The first, and perhaps the least complicated, is to have equipment that meets certain minimum specifications:

• Operating System: 64-bit Linux (for example, Ubuntu 22.04.1 LTS Server or Desktop).
• Processor: For Testnet — Dual core. For Mainnet — Quad core or higher.
• Memory: For Testnet — 16GB RAM; For Mainnet — 32GB RAM.
• Storage: For Testnet — 1TB SSD; For Mainnet — 2TB NVME.
• Internet: Stable broadband connection, with 10 Mbps upload/download, ideally with no data limit.
• Data Plan: Minimum of 2 TB per month, preferably unlimited.
• Power: Reliable electrical supply, recommended to have a UPS (Uninterruptible Power Supply).

This equipment must be dedicated exclusively to this function, as it cannot be used for other tasks while operating as a validator. The cost can vary considerably.

I opted for an intermediate configuration between the requirements of Testnet and Mainnet:

• PC Mini Asrock X300 (mini case, power supply, and motherboard)
• Processor: AMD RYZEN 5 5600G, 6 Cores — 100–100000252box
• RAM Memory: DDR4 1 x 32 GB Patriot, Bus 3200 Mhz — pvs432g320c8s
• Solid State Drive: M.2 Patriot 2 Terabytes P300 — p300p2tbm28
• UPS: UNITEC 2000VA-1200W interactive — UN-I2000VA

The approximate cost is $650 USD.

The second condition involves having 32 ETH to lock up as collateral and obtain permission to start operating as a validator, which represents a considerable investment. However, this time, I will be conducting tests on the Holesky network, as mentioned earlier. Another motivating factor is the recent emergence of opportunities to participate as a validator with a smaller investment, like 1 ETH, which makes the experience worthwhile.

The indicated tutorial is designed to set up a validator from scratch and use it on the Holesky test network, created specifically for this type of testing. For other applications such as DeFi or NFTs, the Sepolia testnet is used.

Here is the information to add the Holesky network to your wallet:

• Network Name: Holesky Test Network
• New RPC URL Address: https://ethereum-holesky.publicnode.com/
• Chain ID: 17000
• Currency Symbol: ETH
• Block Explorer URL Address: https://holesky.etherscan.io/

Key Sections Explained in General Terms

• Node Setup: Prepare your system to connect and support the Ethereum network.
• Execution Client Installation: Install the necessary software to process transactions and maintain the blockchain state.
• Consensus Client Installation: Set up the software responsible for managing the validation rules and the agreement of new blocks.
• Validator Installation: Establish the system that allows proposing and verifying blocks on the network.
• Maintenance: Monitor and regularly update your system to ensure its optimal operation and security.

Considerations During the Process:

While following these sections, I kept some things in mind, such as:

• Importance of Continuous Connection: Not being online has negative consequences; therefore, it is recommended to use a UPS to ensure that the system operates 24/7.
• Penalties and Maintenance: It is important to consider the penalties for the ETH locked in case of bad practices, which requires paying attention to each step of the process and performing regular maintenance on the equipment.
• Ideal Equipment Installation: It is ideal to install the equipment from scratch with Ubuntu, as this facilitates the configuration and optimization of the system for the specific needs of the validator.
• Data Annotation: It is crucial to note down every piece of data generated, including passwords.
• Port Enabling: This step is crucial to ensure good communication.
• Choice of Clients: It is necessary to choose an execution client and a consensus client. In my case, I opted for Nethermind for execution and Lodestar for consensus.
• Lodestar Configuration: During the installation and configuration of Lodestar, it is necessary to create a “consensus.service” file. In a section of this file, a wallet is added for -suggestedFeeRecipient. I used the address of my personal hardware wallet, which is the one that will receive the additional ETH generated by the validator.
• Withdrawal Address: I used the same address for the withdrawal address, an important detail in the validator key creation process.
• Key Generation in Ubuntu: I used the “staking-deposit-cli” tool in Ubuntu to generate the keys. It is important to note down and securely store the generated phrase.
• Generated Files: Two files will be created: “keystore-######.json” and “deposit_data-#####.json”. The former is for the validator to sign transactions and must be kept private. The latter contains public information of the validator.
• Registration in Holesky: Subsequently, you must visit https://holesky.launchpad.ethereum.org/ and follow the instructions at the end of the guide to upload the public file “deposit_data-#####.json”. This will allow sending the ETH to the contract to request to be a validator. (Note: I tried signing with a hardware wallet without success, so I resorted to a normal MetaMask wallet).
• Confirmation of Validator Address: At one point in the process, you will receive a confirmation of your public validator address, for example, 0x87cccd……a1265. Then you can enter this address in https://holesky.beaconcha.in/validator/ to generally check the status of your validator.
• Validator Installation: Finally, I followed the last step of the guide to install the validator and waited until the next day to confirm my acceptance as a validator on the previously mentioned Holesky page.
• Validator in Operation: Now I have a validator operating from my home.

Link to the Followed Tutorial:

Guide | How to set up an Ethereum staking validator on the HOLESKY testnet

Updates and Additional Learnings

Throughout my journey in setting up and operating an Ethereum validator node, I’ve encountered and overcome several challenges, leading to valuable insights that might interest those engaged in similar endeavors.

Unlocking Time and Exit Process

According to various sources, the minimum time to unlock and receive the 32 staked ETH is about 9 days. Once this period was up, I started the process to stop validating and issue the voluntary exit command. I learned that this step is crucial during the initial setup of the validator. However, I faced a challenge: there was no information on how to enable the REST-API of the consensus client, in my case, Lodestar. Standard commands for initiating voluntary exit were ineffective. After several trials, I managed to activate the API and, using the help commands, generated the necessary command for exiting:

./lodestar validator voluntary-exit --network holesky --importKeystores $HOME/staking-deposit-cli/validator_key

Handling MEV and Validator Efficiency

During the tests, I ran some Maximal Extractable Value (MEV) processes. However, I found that errors in these processes not only failed to increase revenue generation but also led to the loss of many attestations, decreasing the validator’s efficiency. Therefore, I decided to remove them. In a real validation scenario, it is crucial to carefully review these processes. Additionally, the additional use of the equipment can also negatively affect the validator’s effectiveness.

Losing the Fear of Missing Attestations

An interesting aspect is that I lost the fear of missing attestations. Although they have a cost, they do not carry significant penalties. This does not mean it’s okay to leave the validator disconnected, but it does provide some peace of mind in case of potential network, power, or equipment issues.

Maintenance and Using Cloud for Validation

I explored a hypothetical case where it was necessary to shut down the equipment for maintenance, without stopping the validation. I used Google Cloud to create a temporary machine, transferred the keys from the physical validator to the cloud one, and it worked well for a few hours. However, later I encountered difficulties in accessing it, suggesting that it is a viable option for temporary replacement. It’s crucial to remember not to use the keys on both machines simultaneously, as this does incur penalties.

Funds and Wallet Management

I reviewed whether it would be better to use the same wallet to send the funds and to receive the stake and fees. This seems to be an efficient strategy, simplifying the management of funds.

Future Plans for Enhanced Monitoring with Remote Desktop and Dashboards

During the setup, I integrated Microsoft Remote Desktop for more effective remote control of the node. This addition has significantly simplified the management and monitoring of the system from a distance.

In terms of monitoring, I have set up a preliminary dashboard using Grafana and Prometheus. These tools offer in-depth insights into the system’s performance. However, while configuring these dashboards, I realized the complexity of their interface and the vast amount of data they can display.

In conclusion, while the current setup is functional, I see significant potential for enhancing its efficiency and usability through tailored dashboard organization in the near future.

Conclusion and Next Steps

Through direct experimentation, I have gained a thorough understanding of the validation process, giving me confidence for potential operations on the mainnet. I’ve also identified challenges to delve into, such as MEV management and setting up a backup system. Moreover, I’ve acquired notions of security to protect the validator’s keys. In summary, despite some challenges, the process is relatively straightforward once fully understood.

First Impression of Istanbul:

During my daily outings, everything was very curious: steep streets, neighborhoods with an old look, and despite the fact that there were workshops around where I stayed, it felt safe and clean. As for cars, it is necessary to be very careful; they drive aggressively and pedestrians do not have priority. If you’re inside a car, it’s better to fasten your seat belt.

In general, the weather is very pleasant, but if it rains, it does so with force, usually lasting all day, and the streets tend to flood.

Although it is easy to make yourself understood in English, it would be good to learn some basic phrases.

Regarding the fear of being scammed, from a Colombian perspective, it is not a big deal (don’t show vulnerability); it’s just about not letting yourself be deceived. The mode of scam here is to charge more than normal using social pressure, which, in my case, I found amusing. I played dumb and had no problem.

Interesting places and more! As I researched and walked around, I found more fascinating places. Istanbul is definitely ideal for a vacation exploring every corner, and the best part is that you can explore it on foot.

Among the curious facts as a foreigner, you find cats everywhere (I made a “sidequest” of taking a photo of each one) and hearing the five daily calls from the mosques.

Now… Experience at Devconnect:

Arriving at Ethereum events is always spectacular; there is an atmosphere where everything seems possible, with people from all over the world eager to build new things.

Being my first hackathon, I had many doubts about how it would work, especially since I was completely alone and not an experienced developer.

Accommodation:

Fortunately, after thorough research, I found a place where most of the event attendees or people involved in the web3 ecosystem would stay, thanks to the great project of (CNC) Crypto Nomads Club. Upon arrival, I received a welcome gift and the accommodation process was very easy. Everything was prepared, and the choice of hotel was perfect in terms of its condition and proximity to the event, which saved me a lot of time and money on transportation… it also allowed me to exercise with the short walk to the event Haha.

First Days:

On the first day in Istanbul, I had breakfast with some of the people staying at the same hotel. As we walked to the restaurant/cafe, I started talking to very friendly people, whose lives already revolve entirely around companies related to web3. Those conversations were a kind of additional welcome and they encouraged me to see what can be achieved with great dedication and knowledge. Then, I connected with some people and headed to the coworking space organized by Devconnect.

The main coworking space, despite creating an interesting environment, also gave me a feeling of rejection towards those who believed that I couldn’t contribute anything significant to their hackathon project. After talking a bit with several people, I understood why: for many, attending hackathons is a fixed job, so they can’t afford to waste time teaching someone. This rejection, combined with the feeling of loneliness and difficulty in expressing myself due to the language barrier (even though I speak English well), caused a strong downturn in my mood. Thus began my roller coaster of emotions, as I felt welcomed at breakfast, but then in the coworking space, I felt like I didn’t belong there.

Taking a Moment if Nothing is Working:

I felt that I had made a big mistake traveling so far (Colombia — Istanbul) to realize that I wasn’t prepared. So, I decided to take advantage of the trip in a different way the next day and explore Istanbul a bit. I visited some mosques, the Basilica Cistern, the Grand Bazaar, spent some time in a large nearby park, and in an area with a beautiful view. Then, I returned to the hotel and felt much calmer (The moral is that it’s good to stop and take a breath for a while).

Change of Attitude:

After several days of emotional ups and downs, a special event arrived, well, two: Pragma Istanbul and Cafe Istanbul. The first consisted of a series of one-day conferences, along with partner booths explaining their innovations, and the second was a space to meet and connect with those who intended to participate in the hackathon. This took place at the Intercontinental Hotel and it was totally awesome, and there was a spectacular view from the rooftop restaurant.

Throughout the day, I had the fortune to talk to people who were or had been in a similar situation to mine: being alone, coming from other areas of knowledge, being beginners. They gave me very good advice.

In the end, in that place with that great view, I managed to spend the afternoon talking to someone who I can say is a spectacular mentor. He helped me overcome fears, gave me good advice, spoke from his vast experience, and helped me discard and define ideas. From that point on, I felt a lot of confidence to talk to others because I understood how to highlight my knowledge. Then, with the good organization of CNC, I went to dinner at a typical restaurant and it was a lot of fun. The change of attitude to face things is everything.

My First Hackathon

The big day of ETHGlobal Istanbul arrived. I already had the idea defined and all the attitude, but I didn’t have a team. The event started at 1:00 PM.

There was a stage within the event for which I prepared, but during the week I thought it wouldn’t happen anymore… As soon as I entered one of the workspaces, there were booths from a large number of partners. With my experience from the previous year (Devcon Bogota), I knew what I had to do: collect as much merch as possible, although I don’t feel so proud of this process, I think I will always do it haha, I even had to go back to the hotel to drop off bags and come back again. It should be noted that this time, I took advantage of each stop to learn something significant or solve technical doubts.

Well, I came back to reality: I didn’t have a team! I asked several people I met and got nothing. A curious case is that at that point, I kept running into Spanish speakers and many Colombians. I even found one who has the same first and last name as me. But that didn’t solve the team part, although I learned that many managed to come without having to invest their own money for the trip, something I should review to avoid a lot of headaches. 💸

Finally?

Within the small loop of searching (greeting, introducing, asking, checking Telegram and Discord groups), a possibility finally appeared on Discord (Sara and Miquel). As soon as we met, I started explaining my idea to them. It was very pleasant to be able to do it in Spanish and explain every little detail.

They liked it and we decided to form a group. We felt that it would be best to find one more person, and that’s how our final member, Allard, joined us. At first, it was very difficult to convince him because he wanted to participate with the best group and was constantly evaluating options. Then he left, and we thought it would be just the three of us, but he came back, asked a few questions, and finally said he would be on the team.

Throughout the process, there was a very pleasant atmosphere and I learned the importance of every detail in the development of a project. I finally solved a thousand doubts I had regarding the creation of a functional project and also set clear goals to become an excellent developer for future events. All team members are very good at what they do, and I thank them for such an enriching experience. When it came to uploading all the project information, it was a lot of fun, and seeing the message that we did it was a relief and a very gratifying feeling.

What is Sleep?

Out of the 36 hours of the hackathon, we rested for approximately 5 to 7 hours on the first day. After that, we didn’t stop, even after delivering the project, because there was still the presentation to the judges and attending the award ceremony, which concluded around 6:30 PM. This added up to a total of approximately 45 hours without rest!

Many fell exhausted after delivering the project and waiting for the closing event.

General Learning from the Experience:

I can highlight that the chances of success can be significantly increased by applying the following:

• It is ideal to have a pre-formed team.
• Have a clear project, including the problem it addresses and how the solution will be achieved concretely.
• When having the project, also plan taking into account the specific conditions of the promoted prizes and define clear priorities.
• It is recommended for the project to be modular, in the sense that it can do without certain functionalities and still fulfill the main objective, especially when time is limited and quick decisions need to be made about which elements to eliminate.
• Before the event, it is beneficial to talk to many people about the problem and general idea, which will provide different perspectives that will help form a more solid approach.
• Both the project documentation and the demo video should ideally be ready one hour before the submission deadline.
• Always maintaining a positive attitude is key, as well as understanding the team’s state and maintaining constant communication to provide support in different areas.
• Depending on the specialty, it is useful to practice basic integrations at home in order to not waste time on simple or standardized technical aspects, such as connecting wallets.
• It is convenient to have tokens for all possible testnets.
• Enjoy the process and learn a little about everything, even if it’s not in your own area of expertise, is essential.
• Practicing the pitch and demonstration of the project is fundamental, as the only way to generate interest from others is to present the idea in a fluid and visually appealing way.
• Lastly, according to conversations with experienced hackathon participants: don’t get overconfident! A series of positive results does not guarantee future ones; you always need to give your best effort.

Conclusion

Finally, the moment of the closing ceremony and award presentation arrived. Although the experience itself was already a great reward, the expectation for the financial aspect of the prizes was undeniable. We entered the main auditorium telling ourselves that we would be satisfied even if we didn’t win anything, but our hearts raced with each announced prize. It was a very long and funny moment because with each announcement, we looked at each other and laughed at how eternal it felt to find out if we had won something or not.

In the end, we won two prizes and were left with a pleasant feeling of success. We know that with proper planning and having formed the team beforehand, the chances of success are even greater in the future.

This experience leaves me grateful especially to the people who treated me as friends, sharing their experiences; to my mentor; to my team, with whom I hope to face more challenges together; and to the ETHGlobal team and the Ethereum Foundation for creating spaces that allow so many enriching experiences.

This scenario is reminiscent of the 19th-century Gold Rush, where miners directly traded gold for goods and services, often at the mercy of an unregulated system. In this article, we delve into the scams that have emerged in the crypto world and highlight the importance of safeguarding assets in this new, decentralized landscape.

The Double-Edged Sword of Eliminating Intermediaries

While removing intermediaries brings many benefits, it also resurrects old risks, often exploited by malicious actors. Blockchain allows us to bypass these middlemen, but it also opens the door to those with ill intentions.

Scams Amidst the NFT Craze:

During the NFT boom, scams proliferated. Fraudsters often posed as legitimate opportunities, luring users with contracts that promised lucrative returns but instead led to asset theft. Inexperienced users, driven by the allure of quick profits, were particularly vulnerable.

A typical scam involved counterfeit NFTs on exchange platforms. These NFTs, mimicking popular projects, were part of deceptive offers that tricked users into trading valuable assets for worthless imitations.

More sophisticated scams involved applications offering services like converting 2D NFTs to 3D or creating unique animations. These required users to connect their wallets and sign contracts, ultimately leading to asset theft.

The Seed Phrase Trap:

In this clever ruse, victims receive a seed phrase leading to a wallet seemingly containing substantial funds. Driven by curiosity and the prospect of unexpected wealth, users attempt to transfer these funds, only to find they’re inaccessible. The scam culminates when users deposit a small amount of ETH to cover transaction costs, which is promptly stolen.

The BAYC Loan Strategy:

A notable case involves the Bored Ape Yacht Club (BAYC) project, where NFT owners could claim the new $APE token. One individual capitalized on this by borrowing unclaimed NFTs from a lending platform, claiming the tokens, then returning the NFTs while keeping the $APE. View the transaction here.

This raises ethical questions: Is this a clever use of the system, or does it border on theft? The terms of the lending platform may permit such actions, but the moral implications remain debatable.

Conclusion:

As blockchain evolves, so do the strategies of scammers. Staying informed and cautious is key to protecting our assets in this decentralized world. When developing new tools, we must weigh the pros and cons of decentralization, ensuring we create a safe and equitable digital ecosystem.

Wallets: Your Gateway to Blockchain

Interactions within blockchain networks occur through “wallets” — digital tools for managing digital assets. Leading wallets typically offer control over private keys, a user-friendly interface, compatibility with various cryptocurrencies, and sometimes, integrated exchange features. They function by sending or receiving transactions, which are then recorded in blocks and added to the chain upon confirmation.

The Power of Smart Contracts

A pivotal element in blockchain is smart contracts: codes that automatically enforce contract terms when predefined conditions are met. It’s vital to understand these contracts before interaction, as they are irreversible once executed. A prime example is Decentralized Finance (DeFi), which leverages smart contracts on platforms like Ethereum to offer traditional financial services, but without intermediaries.

Navigating the Risks

Despite its secure and immutable nature, blockchain isn’t immune to risks. Scams, such as Ponzi schemes, phishing, and fraudulent platforms, are prevalent. Thus, staying informed and maintaining a healthy degree of skepticism is crucial, much like with conventional technology.

Beyond the Surface

Blockchain is often narrowly perceived as synonymous with cryptocurrencies or NFTs (like those famous ape images). However, it’s much more versatile, with applications ranging from smart contracts to voting systems and property registration. It’s not just about cryptocurrencies or NFTs but encompasses a vast ecosystem with transformative potential.

Conclusion: Embracing Blockchain’s Potential

Blockchain is a revolutionary technology with applications far beyond the commonly recognized ones. To truly grasp its potential, consider how it might solve familiar problems in life, work, or the world at large. Explore projects addressing similar issues and experiment with them. Over time, this exploration and experimentation will deepen your understanding and expertise in blockchain.

Starting Points for Your Blockchain Journey

• Blockchain ensures public, unalterable information storage.
• You can program conditions involving digital money, executed only when certain criteria are met.
• Its global nature overcomes geographical and jurisdictional barriers.

Now, reflect on these aspects:

• Where in your life or work is information vulnerable?
• Are there processes bogged down by intermediaries, especially involving financial transactions?
• Do distance or country restrictions hinder agreements, business dealings, or information verification?

Begin with these thoughts and dive into research. You’ll likely find numerous applications and solutions addressing these challenges. Start imagining and investigating — your journey into blockchain is just beginning!

Observing the evolution of the metaverse concept over the years, I’ve noticed patterns that recur not just in web3 projects but also in casual conversations, even with those unfamiliar with blockchain technology. Here are some reflections:

Life in a 99% Virtual World

We often hear about “innovative” companies promoting a life almost entirely spent in virtual spaces. This includes working in these virtual worlds, earning directly in our blockchain wallets, exploring new places, meeting millions of people, and expressing ourselves through customized avatars. We also see the promise of owning unique spaces and accessories.

At first, this proposition is intriguing, particularly to those new to the digital realm. However, having spent a significant portion of my life in video games, I’ve realized that the allure of separating from reality is fleeting. It either becomes a cherished hobby or a consuming vice. For a metaverse project to succeed, I believe a tangible connection to real life is essential. The metaverse should complement, not replace, our physical existence.

Test These Concepts:

To understand the potential scope of what companies are proposing with the metaverse, consider these activities:

1. Building a home and customizing your avatar in “The Sims.”
2. Playing the free version of “World of Warcraft.”
3. Engaging in extended virtual reality sessions.
4. Interacting in VRChat.

These are not new or exclusive to web3 metaverse projects but offer a glimpse into the possibilities, especially when ownership through blockchain is introduced. (For younger audiences, just enjoy these as games!)

Some Blockchain Projects:

• The Sandbox (Ethereum Blockchain)
• Decentraland (Ethereum Blockchain)
• Star Atlas (Solana Blockchain)
• WanakaFarm (Bnb Blockchain)

Emerging Projects:

• Otherdeed for Otherside (Ethereum Blockchain)
• ALTS by Adidas (Ethereum Blockchain)

Does Selling Virtual Land Make Sense?

Selling land as a scarce resource creates immediate sales pressure, akin to many NFT projects. However, this approach isn’t sustainable. The metaverse isn’t about limited land; it’s about limitless possibilities. Integrating special benefits, acquisition filters, and hybrid real-world applications could be more effective. Think of real-world analogies — attending events or exploring new places involves expenses like transportation, food, and tickets, all contributing to experiences and memories.

The business model should focus on experiences, not land speculation or advertising. As technology evolves, today’s digital lands might become obsolete, replaced by newer, more advanced platforms.

Is the Avatar-Centric Approach Effective?

Avatars offer identity protection and personalization, but focusing too much on avatar customization can be distracting. It limits accessibility and often prioritizes trivial aesthetic elements. Essentially, it’s not much different from the gaming experiences of the past two decades.

Conclusion

This isn’t a critique of the metaverse but a reflection on its current state. The concept has always fascinated me, especially in the context of video games. However, finding the right balance for implementing this blockchain-enhanced idea is crucial. Key considerations should include:

• Easy access to diverse experiences.
• A blend of digital and physical applications.
• Personalized and user-friendly interfaces for managing metaverse assets.
• Interoperability with other technologies.

Interestingly, contrary to some futuristic portrayals of uniform, gray cities, real-world advancements are enabling us to create, modify, and personalize even the minutest aspects of our lives. Thus, it’s unlikely that any single company will become the sole provider or embodiment of the metaverse.

The metaverse is more likely to be a mosaic of various applications and experiences, accessible through our preferred platforms. It’s a collective, evolving creation, not a singular, static world.

El camino hacia web3 ha sido creado por Alchemy y consiste en una serie de 10 segmentos o semanas en las cuales podrás aprender a desarrollar en web3 a tú ritmo, este es un programa cuyo objetivo es ayudar a los nuevos desarrolladores en blockchain a pasar de principiantes a un nivel avanzado.

He traducido el programa a español con el fin de que el idioma no sea una barrera inicial para aquellos que quieren empezar a desarrollar en la cadena de bloques.

Desafíos de aprendizaje del camino hacia Web3

Aquí encontraras los links de cada uno de los desafíos del camino hacia web 3.

1. Como crear el contrato inteligente de un NFT (ERC721) con Alchemy
2. Como construir una Aplicación de finanzas descentralizadas (DeFi dApp) “Regálame un café”
3. Como hacer NFTs con metadatos On-chain con Hardhat y Javascript
4. Como crear una galería para NFTs
5. Como crear un NFT dinámico
6. Como construir una dApp de Staking
7. Como construir un Marketplace de NFTs desde 0
8. Como construir un juego de apuestas en Optimism
9. Como construir una Dapp de intercambio de tokens con la API 0x
10. Como crear un Twitter descentralizado con Lens Protocol

Espero te haya sido de ayuda, puedes escribirme en Twitter o visitar Mirror donde puedes mintear el tutorial en tu wallet.

Before POAP: Traditional Scenarios

Business Case:

Consider a conference with training sessions, competitions, and information booths. Traditionally, attendees might receive paper certificates or PDFs for training sessions, participation certificates for competitions, and physical or digital marketing materials at booths. These methods had limitations:

1. Each segment provided proof of attendance or participation, but these were often disposable or easily lost.
2. The value placed on these certificates varied, and they were sometimes discarded or forgotten.
3. Informational materials were likely to be thrown away soon after receipt, with only a few making a lasting impression.

In these processes, the retention of information by recipients was low, and for issuers, tracking engagement and generating metrics was challenging.

Personal Case:

At networking events, common practices include exchanging business cards, sharing contact details, or connecting on social media. The goal is to make lasting connections, but the sheer number of interactions can make it hard to remember specific individuals.

Introducing POAPs

POAPs offer a solution with features like:

• Free creation and distribution.
• Limited to specific time frames and interactions.
• Distributed via unique codes, QR codes, or NFC.
• Include title, date, interaction count, badge image (PNG or GIF), up to 1500 characters of text, a URL, and location data.
• As ERC-721 NFTs on the Gnosis blockchain, they are unique, traceable, and secure.

Being open-source, POAP is constantly evolving, opening up new possibilities for use.

POAP in Action

Business Applications:

In a business event, participants receive specific POAPs in their preferred wallets. These POAPs:

1. Provide attendees with a permanent, immutable record on the blockchain.
2. Allow event organizers to accurately track participation and gauge event success.
3. Foster ongoing engagement with customers by offering continued access to digital assets and rewards.
4. Reduce waste and financial investment in physical marketing materials.

Personal Networking:

POAPs facilitate:

1. The exchange of rich contact information, permanently stored in recipients’ wallets.
2. Selective distribution, allowing for more meaningful and memorable connections.
3. A digital gallery of badges as proof of attendance, offering an immediate and verifiable record of events attended.

Creating POAPs

Creating a POAP involves simple steps:

1. Go to the ‘Create Drop’ section on the POAP website.
2. Fill out details like event title, description, dates, and artwork.
3. Submit for review and receive unique codes for distribution.

Complementary Technologies: ENS and IYK

• ENS (Ethereum Name Service): Simplifies wallet addresses (0xaa3dcAe90268e0….)into user-friendly names (danolar.eth), linking to your wallet and making transactions easier.
• IYK: Offers physical items like tags and cards that bridge digital and physical worlds.

Synergy of POAP, ENS, and IYK

These technologies collectively enhance the connection between digital and physical identities, making networking and event participation more integrated and memorable.

Conclusion

POAPs and related technologies represent just the beginning of what blockchain can offer for event participation and networking. The key limitation is the adoption rate of blockchain technology and the necessity for recipients to have a digital wallet.

In my continuous search for knowledge by testing all that blockchain offers I was able to enjoy certain experiences that left me good gains, I will tell you the details that led me to make one decision or another. Maybe something can be useful to you.

I must clarify that this is not a financial advice, making a decision that leads to a loss or a gain depends on many factors, especially the feelings and reactions of each person.

Hype for past results

In 2021 we were in an extremely bullish market for cryptocurrencies in general, the word NFT was becoming the most searched word of the year, projects like Cryptopunks or Bored Ape Yatch Club (BAYC) had average selling prices of 120 ETH and 42 ETH respectively and they were getting higher and higher, stories of outright life changes due to an NFTs sale were continually found and this gave you the feeling that you could be next, at the same time new business models were being created in virtual worlds and in Blockchain games.

Greed:

The market got excited with every project that had a variation to the previous one and the promises in the whitepapers of those projects and their publications were futuristic and invited to imagine an absolute change of the world as we know it (spoiler alert) that did not happen, not because blockchain technology or NFTs are bad, but because it started to create a bubble similar to .com and increased the greed to make a 10x, 20x, 100x in every investment without researching thoroughly, so everybody was betting everything they had.

Mekaverse mint

On October 7, 2021 the mint of MekaVerse project was held, in their Discord server there were 250,000 members, before the mint you had to register and choose if you intended to buy 1 or 2 NFT then validate that the wallet had sufficient funds for the purchase (0.2 ETH + gas or 0.4 ETH + gas) that could be spent in the transaction (Between $800 and $2000 (USD), by doing this process you sign up for a type of raffle to have the opportunity to be chosen to buy.

Value proposition

As I indicated above, the state of the market allowed founders to propose small variations in a project and from there let the buyers imagination fly. At that point was a continuous comparison with the collections that had been successful before and from there show how to offer something “better”…

What could be better than a pixelated image or some apes in 2d?
-Robots in 3d!
What becomes more exclusive than a collection of 10,000 NFT.
-Well, 8888!

Expected result: Reach the same price of the successful projects and then surpass them.

Note: The design of the Mekas is directly related to the “Mecha” of the Japanese robot culture so this helped to have a relationship with the past and what could be done with this PFP project.

Luck, probability and decisions

At the time of purchase there were several situations that I had to be prepared for and they usually apply to many projects:

Review the smart contract, verify that it does not have approvals to handle other currencies, that it effectively complies with the mining process for the value announced.

Check how many NFT will be rare or special and calculate the probability that you would have to get one.

Accept in advance different possibilities:

• If I am not selected to buy and it goes up in price I cannot stay in a series of guilt feelings, I must accept it and go on, there are infinite opportunities in web3. (It is a simple premise but necessary for mental health in any type of investment).
• Wait for NFTs to be revealed so I will know if I have a rare one and sell it for a great deal but risk that if it is normal it will have a lower value or I sell it before it is revealed at a higher price.

Define risk tolerance:

• How many would I buy?
• If it is not sold out what would I do?
• If it drops in price in the secondary market to the value of the initial purchase or less, do I sell, hold, buy more?
• What factors would make me feel more comfortable about the project after the purchase?

I was selected and have the opportunity to buy:

• Buy first or wait a moment
• How much am I willing to spend on gas?
• Sell or hold, how much is the minimum I would accept?
• Will I wait for the NFTs to be revealed?

What will be the market reaction if…

• The project team stops communicating after the mint.
• They give good or bad news.
• Good or bad rumors leak out.
• People start to lower the price in the secondary markets.

The moment of truth, what happened that October 7?

Despite taking into account different situations to be sure to make the best decision, feelings and other variables begin to complicate the options that look simple.

I entered the page and decided to select to buy 1 MekaVerse, I thought that would increase the possibility of being selected against those who chose 2 and if something went wrong I was mentally prepared to lose only 1K, when it was time to reveal the winners, both networks and the page were saturated, there were more than 200 thousand people trying to get a little more than 8000 NFTs, while waiting, I saw how many were complaining about not having been selected, so I started to believe that my luck would be the same, but after a few seconds the option to buy appeared, I quickly signed the contract and my ETH disappeared, then I went to OpenSea and there the secondary sales began:

First sale at 8 ETH
Transaction: 0xa56fa397f4508555c9ac49a6158261da5c4c080d4885467565317edc41e81475

Then 7 ETH, 5 ETH, then an accepted offer for 9.5 WETH and from there it started in a range of 6 to 3.5 ETH, this was happening while on the discord server they wrote things like: those prices are very high it’s not worth it, on the other hand those who said: in a short time it will cost 10 times more, within these discussions I saw that someone wanted to buy so I quickly wrote him by dm, (seeing how prices were moving I decided I was willing to accept 5 ETH) I asked the buyer how much he offered and he told me 5. 7 ETH so I sent him the OpenSea link and he put an offer of 5.7 WETH, everything was happening very fast and he was pressuring me to accept the offer quickly or he would remove it because he had other sellers writing to him, and at that moment I was about to accept but….

I didn’t have enough eth to process the transaction! Gas was only rising due to the large number of transactions from buyers desperate to get their hands on a Meka.

Despite having made a fast decision thanks to what I had planned, I had not enough eth to pay for the gas and that detail made me go through a small episode of stress since 1 minute at that moment represented not selling at 5.7 ETH, maybe 3 ETH or simply not managing to sell it:

Go to my exchange → Buy 1K with a credit card → Card not accepted by the exchange → Shout: Shit!, why? → Tell the buyer that I was already accepting the offer that it was taking too long because of the gas → Find another way to buy → Buy 1K → Purchase accepted → Laugh like crazy for advancing 50% of the process → Send 1k in ETH to the wallet with which I bought the Meka → Wait for the ETH to arrive → Sign the marketplace contract→ Sign to accept the offer → Write to the buyer “Sold” as if it had been a simple transaction for me.

Note: When you are going to sell on a secondary market you must sign an authorization to give the marketplace access to handle your NFT to perform the transfer process, every transaction on blockchain needs a gas payment to be processed.

After all that process thoughts of doubt began to appear regarding the sale, I could have sold it for 8 ETH?, it would be a legendary item? and other similar thoughts but I stopped all that by remembering the previous analysis and with a phrase that accompanies me in every transaction:

No one has ever become poor by making a profit.

There will always be someone making more gains than you and there will always be the possibility of something going to 0 so making a profit at some point is the best option to stay in the game.

What happened to MekaVerse over time?
When the collection was revealed the rarest Mekas had impressive sale prices:

After these sales there was a lot of expectation of what would happen with the project, from the Sold Out + the commissions from secondary sales they had a good capital to work, but time passed and reality arrived, despite having a good intention the creators did not have good experience to manage the project as a company, As a result the market value of the MekaVerse today is 0.25 ETH, approximately $380 (USD), they start to sell merchandising such as jackets, shirts and some robot head lamps, also 2 additional collections were created:

If you liked this story, please share it and look forward to many more.

Before Devcon

For many years I have been learning all about blockchain, web 3.0 and the crypto ecosystem, I really love it, I can’t imagine a future in which this technology is not applied, but as time went by I started to have a great frustration regarding my progress in this world, I couldn’t find how to connect with like minded people, I was also underestimating my knowledge and demanding myself to the point where I believed I had to become a professional in every topic in order to be on par with those who are already working or have already created something in blockchain.

From October 11 to 14, 2022, in Bogota, Colombia. I attended Devcon VI at the Agora Bogota convention center, an event in which there were about 250 sessions that included exhibits and workshops, all around 10 main themes:

- Layer 1 protocols.
- Layer 2s.
- Developer infrastructure.
- Governance & coordination.
- UX & design.
- Staking & validating expertise.
- Security.
- ZkPs — Privacy, identity, infrastructure, &more.
- Opportunity & Global Impact.
- Cryptoeconomics.

If you want to see each of the sessions you can do it in the devcon archive page:

Devcon Archive: Ethereum Developer Conference

In addition to that in Bogota there were approximately 200 related events, initially I was scheduled to attend many talks, exhibitions and workshops but I quickly realized that there was something much more important happening outside the auditoriums.

Networking

Summarizing this experience in one word it would be: People.

In this global attendance event an environment was created in which you could engage in a conversation for hours with a stranger from anywhere in the world just by smiling when you crossed each other in a hallway and the magic was not only this, it was listening to the experiences of each of them, passions, goals and above all it felt like a meeting of friends of many years.

In addition to the personal meetings, at Devcon VI you could see and breathe an atmosphere that I could only imagine when reading or listening to stories of Silicon Valley or other places of origin of great inventions and companies, the feeling was very nice, it just made you want to start working on a crazy idea, to spend sleepless days working on a new project.

The magic that was felt in that place is something that I hope everyone can feel someday and I hope to always attend events like this, as a conclusion I can say that this environment and the people I met made me realize that the only thing that matters is to start doing something, whatever it takes to be part of the future, no matter how simple it is, I realized that everything I have learned during these years has a great value and it is not necessary to be an expert, it is not necessary to know everything, just have the intention to do things and not stop, little by little a path will be formed and you will end up in places you did not expect.

Thank you!

Additional notes about the event:

The convention center has five floors which was fully occupied by Devcon VI, they even took a basement level to complete 6 levels.

On each level you could find coworking areas, get unlimited snacks and drinks, in the morning you could stop by a buffet for breakfast and the same way it worked for lunch, auditoriums and every corner of the convention center had a unique Ethereum themed design, you could stay all day from 9 Am to 9 Pm.

Interesting spaces and activities:

ENS Domains: a booth with 1 hour queue thanks to the collaboration between ENS x POAP x IYK Card, when you managed to reach the booth they printed on a plastic card an image with your ENS domain and you could use the card as a POAP to connect with the other attendees of the event. (This topic will have a separate post).

ENS :

ENS

POAP:

Welcome to POAP

IYK:

IYK

Booths and Swag: on levels 3 and 4 you could find several stands like ENS domains, each of them belonged to different projects in which you could have a good talk, learn and in addition to that get several gifts, in my case I ended up with 4 overalls, 8 shirts, 4 hats, 2 pairs of socks, 2 scarves, 3 bags, 1 pin and 1 party set of cards!

Chiva: At the back on the second floor there was a chiva (typical Colombian vehicle) in which you could connect with the ETH Latam communities.

Stickers: The second day of the devcon, stickers appeared all over the convention center, there was a great variety with the Devcon and ethereum theme but the curious ones were the memes about the merge (Coming soon post about this transition from POW to POS).

Hacker Basement: A basement full of LEDs, screens with NFTs, chairs and tables to meet and develop new projects or just rest.

Ethereum Jungle: Relaxation areas with soft music, to rest or sleep in hammocks and poufs.

Ticket attestations: Along with the email in which you received the entrance ticket came another one that included a link which gave you access to NFTs benefits, discounts on web2 and web3 applications, personalized consulting and access to submit your idea to Venture Capital.

Devcon VI Permissionless Perks

Devcon APP: A web page that could be turned into an app by creating it as a direct access to your cell phone, it indicated in a complete way the programmed events, general information and a 3D map of each level.

Dashboard - Devcon Bogotá App

Language: Although you could use the translation service to attend the talks, it was essential to know English to enjoy the networking, so I recommend you to study as much as you can to test yourself next Devcon.

Wifi and networks: There was only one negative point in this event and it was the internet congestion, both wifi and mobile networks were totally saturated and you rarely got a signal to do something useful, according to talk to attendees of previous events has been a recurring problem, but most likely for the next one they have the solution.

What’s next?

Just as I met experts, I met many people starting and interested in learning, I have a lot to teach, my goal with this blog is to capture all the knowledge gained over the years for those who want to know more about blockchain, I hope to connect with those who want to take projects and ideas forward and continue with this passion by turning my full time job on the web3.