Ethereum Ecosystem Overview

Decentralized Functionality

Presented by: Unit University

Contact: university@unit.network

www.unit.network/in/university

“I thought [those in the Bitcoin community] weren’t approaching the problem in the right way. I thought they were going after individual applications; they were trying to kind of explicitly support each [use case] in a sort of Swiss Army knife protocol.”

– Ethereum co-founder Vitalik Buterin

Ethereum Ecosystem

In 2014, Vitalik Buterin and his team at what is now the Ethereum foundation created Ethereum — a blockchain ecosystem directed at trying to add utility to the relatively stagnant Bitcoin ecosystem of the time.

Over the past decade, the Ethereum ecosystem has grown to become a significant player in the blockchain and cryptocurrency world and, at the time of writing, currently holds second place for the most prominent cryptocurrency by Market Capitalization.

The Ethereum ecosystem makes it so that users can deploy smart contracts built in Ethereum’s native language (Solana), which can be coded to solve a myriad of problems and opportunities. Like with most blockchains, trust is removed — there is no need for intermediaries like banks or agencies because all of these aspire to be trustworthy and safe to use.

Ethereum may be thought of as an entire ecosystem, whereas Bitcoin can be considered a payment network protocol and a value-transfer unit inside that system.

It has enormous potential, and many consider it to be the most significant technological advancement of the whole 2010s.

Key Information

Sector: Blockchain Ecosystem

Token Type: Native

Token Usage: Payments, Voting

Consensus Algorithm: Proof-of-Stake (PoS), following the initial transition from PoW

Precise Consensus

Algorithm: Nominated Proof-of-Stake

Genesis Block Date: July 30, 2015

Carbon Footprint

The long-awaited Ethereum merge was intended to significantly reduce the total energy usage of the blockchain network, and it appears that it has succeeded in doing so. The network has reduced its energy use and carbon impact by around 99.99%, according to research from the Crypto Carbon Ratings Institute.

Links

Website

Twitter

Telegram

YouTube

Founders

Vitaly Buterin

Vitaly Dmitriyevich (aka Vitalik Buterin), a Canadian-born programmer and writer of Russian ancestry, is widely recognized as one of the original creators of Ethereum.

As a co-founder of Bitcoin Magazine in 2011, Buterin got in on the ground floor of the cryptocurrency revolution. Ethereum was created in 2014 by Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.

Links

Website

Twitter

Github

Email: @ethereum.org

Gavin Wood

The original Ethereum testnet was developed by Gavin Wood, a British computer scientist who then went on to create the Polkadot Ecosystem.

The “technical bible,” underpinning the Ethereum network’s ledger and smart contracts, was written by Wood and is known as the “yellow paper.”

Links

Website

Twitter

Github

Email

Joseph Lubin

Lubin is a computer scientist with a degree from Princeton who formerly worked for Goldman Sachs.

To seed the Ethereum ecosystem with infrastructure and apps, Lubin also founded ConsenSys, a Brooklyn-based firm.

Links

Website

Twitter

Github

Email

Start-up History

2011–2013- As a 17-year-old programmer, Vitalik Buterin got engaged with Bitcoin in 2011 and co-founded Bitcoin Magazine. This exposed him to and piqued his interest in blockchain technology. In 2013, he presented a white paper explaining what would become Ethereum using a broad programming language, and his vision for a platform that went beyond the financial use cases permitted by Bitcoin gained attention quickly online.

2014- Therefore, in 2014, Buterin and the other co-founders of Ethereum started a crowdfunding campaign, selling participants Ether (Ethereum tokens) to get their concept off the ground. They raised more than $18 million.

2015- Frontier, Ethereum’s first full release, was released to the public in 2015. Over the years since its inception, the platform’s developer community has expanded fast. Buterin envisions a future where Ethereum can be used for any blockchain applications that don’t already have a dedicated platform. The scaling problems that have plagued Bitcoin are now plaguing Ethereum, which is still in its early stages of development.

2016- Concerns about the platform’s safety were raised after an unknown hacker stole $50 million in Ether in 2016. As a result, the Ethereum community was split, and Ethereum eventually forked into two separate blockchains: Ethereum (ETH) and Ethereum Classic (ETC).

2017- Ethereum’s value surged by more than 14,000% in 2017, despite wild price swings. Many investors are eager to get in on this rapid expansion, while others are weary due to the high degree of volatility.

2018+- After reaching that peak, ETH’s value gradually declined over the following months and years, eventually dropping below $100. The asset resumed its rising trajectory by 2021 when its value had risen to about $4,000. Ethereum’s value vs Bitcoin fell by 55% after the Merge in 2022.

Early Seed Rounds Investors

Institutional investors, such as pension funds, insurance firms, foundations, and others, are significant because they are often patient long-term investors who are less likely to trade on rumours or overreact to the daily news cycle. It is possible that with widespread cooperation from this group, we might find a solution to the crypto industry’s liquidity and volatility issues.

Top 5 Wallet Holders

With a figure of 549,160, down from a December high of 781,300, the total number of daily active addresses is very close to that of Ethereum. Binance’s CEX has the most, followed by Bitfinex’s CEX.

Top 5 Ethereum Politicians

Mayor Francis Suarez

Francis Suarez, mayor of Miami in 2021, invested in Bitcoin and Ethereum, and by year’s end, the city had made significant strides in the realm of cryptocurrencies. In August of 2021, the MiamiCoin was released, and plans were proposed to invest government assets in Bitcoin. Additionally, a cryptocurrency task committee was established for the county of Miami-Dade to look into the viability of accepting cryptocurrencies as payment for local taxes, fees, and other government services.

Sen. Cynthia Lummis

Wyoming’s new senator, Cynthia Lummis, came clean about her Bitcoin holdings in early 2018, saying she’d bought her first coin in 2013 for roughly $320. Lummis and Sen. Kirsten Gillibrand recently introduced legislation that would transfer regulatory authority for cryptocurrency markets from the Securities and Exchange Commission to the Commodity Futures Trading Commission, as the latter would treat the vast majority of cryptocurrencies as commodities rather than securities.

Andrew Yang

Technology policy theorist Andrew Yang is well known for proposing a universal basic income of $1,000 as a solution to the loss of employment to automation. However, Yang is one of the most prominent pro-crypto politicians, and his interest in technology and creativity continues to extend to cryptocurrencies even after his political career has ended.

Mayor Eric Adams

Eric Adams is another prominent pro-crypto politician; during his campaign, he made Bitcoin part of his platform for mayor. He even promised to accept his first three paychecks in Bitcoin. Following his swearing-in as mayor, he requested and received his first salary in Bitcoin and Ethereum via Coinbase.

Stacey Plaskett

Representative Stacey Plaskett is a strong supporter of crypto as a tool for broadening access to banking and fostering growth in the economy in the U.S. Virgin Islands. Moreover, in July 2021, Plaskett was one of eleven members that encouraged the U.S. Treasury to investigate blockchain for COVID relief funding.

Conferences & Events

Ethereum Community Conference

ETHCC is the largest annual Ethereum event in Europe. This three-day event has conferences, networking opportunities, and other learning experiences like workshops that are designed to build up the attendees’ knowledge and understanding of blockchain technology. Speakers for the ETHCC 5 include Gitcoin’s Kevin Owocki and Covalent’s Ganesh Swami.

ETHDenver

ETHDenver is the world’s longest-running ETH event. It’s also the largest #BUIDLathon (or hackathon) in the world for Ethereum. It unites blockchain enthusiasts, developers, and designers with the goal of further developing or contributing to the global blockchain ecosystem.

ETHSydney

Those curious about Ethereum’s blockchain technology can find helpful information and peers in this community. Techies, business owners, attorneys, students, blockchain devotees, and those just curious participate in attendance.

EthereumBA

EthereumBA aims to promote and create decentralized apps, and its members are all passionate about the technology. Anyone curious about Ethereum and the Blockchain

is welcome to join, study, and share their knowledge with the group.

Top Ethereum DAO’s

KyberDAO

The Kyber Network, which allows for the persistent trading of cryptocurrency tokens, is the progenitor of KyberDAO. In July 2020, the Kyber Network Decentralized Autonomous Organization (KyberDAO) was launched, granting KNC token holders a voice in the management of the network.

Aragon

Aragon is both a DAO and a building block for the introduction of other DAOs. In theory, a DAO should make it possible for users to communicate with anybody, anywhere. It promises to be the backbone of 1,500 different DAOs. The total value of all assets held by these DAOs is around $350 million.

GnosisDAO

The Gnosis decentralized autonomous organization (GnosisDAO) has just come to light. It’s a tool for coding in the DeFi realm. Forecast markets constitute the basis for how GnosisDAO handles oversight. It provides helpful suggestions to its distributed representatives based on the state and requirements of the market. SAFE tokens will be used for DAO management, and the DAO will control over eight billion GNO tokens and over 150,000 ETH.

Rocket

Tokens issued by Rocket’s decentralized autonomous organization (DAO) are non-fungible and may be exchanged for either the DAI dollar-fixed token or U.S. dollars. Unlike cryptocurrencies like Bitcoin and Ethereum blockchain, NFTs cannot be converted into or exchanged for other tokens. That’s why Rocket provides an option for NFT holders to have access to liquidity without having to sell their NFTs.

Top Ethereum NFTs

The NBA’s Best Shot

True NBA lovers should invest in this Ethereum NFT project. The NBA endorses this marketplace where fans may buy, sell, and exchange NBA memories using NFTs. This marketplace is quite well-liked within the NFT community, and it now holds more than $300,000,000 in NFTs.

Axie Infinity

Axie Infinity, first published in 2018, is one of the most played games on the NFT market. A large fan base of almost 2 million people have helped develop this game. Created by the video game studio Sky Mavis, it has both player-versus-player and solo gameplay. In this play-to-earn style game on the Ethereum Network, players may earn tokens by playing.

Gods Unchained

Gods Unchained, another massive Ethereum NFT project, has done quite well over the past year. With this downloadable free-to-play NFT game, you may keep whatever you earn. A card trading and collecting game like Axie Infinity.

Decentraland

Decentraland, like Cardano’s Pavia Metaverse, is an Ethereum-based virtual universe. In this MMOG, the $MANA money is used to purchase non-fungible token (NFT) parcels of land. A lot of people have started using this platform since it came out in early 2020.

Bored Ape Yacht Club

Bored Ape Yacht Club, one of the most expensive and well-known NFTs, was introduced in April 2021. This NFT’s value has surged ever since it was introduced to the market, and it is thought that the NFT has generated sales of about $1 billion.

Top Ethereum DApps

OpenSea | Marketplaces | $4.78M Volume

True NBA lovers should invest in this Ethereum NFT project. The NBA endorses this marketplace where fans may buy, sell, and exchange NBA memories using NFTs. This marketplace is quite well-liked within the NFT community, and it now holds more than $300,000,000 in NFTs.

Uniswap v2 | Exchanges | $209.69M Volume

Uniswap is a fully decentralized protocol for automated liquidity provision. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for fast, efficient trading. Where it makes tradeoffs decentralization, censorship resistance, and security are prioritized.

Uniswap v3 | Exchanges | $14.9B Volume

A protocol for trading and automated liquidity provision. Concentrated liquidity, giving individual LPs granular control over what price ranges their capital is allocated to. Individual positions are aggregated together into a single pool, forming one combined curve for users to trade against.

MetaMask | Swap DeFi | $19.13M Volume

A crypto swap from the wallet & gateway to blockchain apps. Trusted by over 5 million users worldwide.Swap tokens directly from your desktop or mobile wallet.

1inch Network | Exchanges | $1.03B Volume

A distributed DeFi network for various protocols on Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum, Fantom and Gnosis Chain.

Similar Ecosystems

Solana is a brand-new, very effective, permission-less blockchain that is now being used as an open-source project.

It is one of the most effective blockchains available today and the hub of a dynamic cryptocurrency ecosystem that includes several other projects in the fields of DeFi, NFTs, Web3, and other technologies.

Solana is also contributing to environmental conservation outside of its local neighborhood

As part of an ambitious effort to build an “Internet of blockchains,” the Cosmos ecosystem is a decentralized network created to connect numerous blockchains.

Inter-Blockchain Communication (IBC) protocol is a cutting-edge technology that Cosmos uses to enable smooth communication and information sharing across chains in its ecosystem.

Polkadot was built to be the ‘blockchain of blockchains’ — attempting to connect the majorly fragmented existing technologies under one hood. Many parachains, or connected, application-specific sub-chains, may be supported by the Polkadot blockchain network, which is a blockchain platform.

Every chain built by Polkadot makes use of Parity Technologies’ Substrate modular design, which lets developers pick the parts that are best for their networks’ particular applications. Polkadot is the aggregate term for the network of parachains that link to the Relay Chain, a single core platform.

This foundation platform, which also makes use of Substrate, incorporates Polkadot’s voting, finality, and consensus logic, but does not offer application functionality; instead, it protects the network’s parachains.

Integration

ETHU

Since its inception, Unit Network planned on integrating ETH into its platform. In March 2020 the integration of ETHU was implemented successfully. Today, Unit Network stores $1.4m in ETHU. ETH is deposited and wrapped as ETHU to LP stake, trade, and buy new and exciting token projects.

Brief history of ecosystem growth and development

Ethereum, as a blockchain, provides access to a wide range of useful features for those creating applications or services built on top of the Ethereum platform. Ether (ETH) is the native cryptocurrency of the Ethereum network and is used to do business on the network. Vitalik Buterin is just one of many inventors of the Ethereum blockchain, but he is the one who first published a white paper outlining the idea behind Ethereum in November 2013. After Buterin laid the groundwork, many other minds contributed in various ways to finish the project. Ethereum was created by a group of people including Vitalik Buterin, Gavin Wood, Charles Hoskinson, Amir Chetrit, Anthony Di Iorio, Jeffrey Wilcke, Joseph Lubin, and Mihai Alisie.

At a Bitcoin conference in Miami, Florida, in early 2014, Buterin introduced the notion of the blockchain project, which included Ethereum. Later the same year, the project held an initial coin offering (ICO) to collect cash for its development; the ICO resulted in the sale of millions of dollars worth of ETH.

Over $18 million worth of Ethereum (ETH) was sold in the asset sale between July 22 and September 2, 2014, using Bitcoin as the preferred method of payment. Although the idea came to fruition with the launch of the Ethereum blockchain in July 2015, its creation would be a time-consuming, multi-year endeavour.

Ethereum’s initial blockchain implementation, dubbed Frontier, hosted smart contracts and proof-of-work (PoW) mining but otherwise only got the chain up and running. After the first launch, miners and other network contributors may begin setting up their equipment and working together to expand the network’s capabilities.

As the blockchain has evolved since Ethereum’s debut, it has received several modifications, including Byzantium, Constantinople, and the Beacon Chain. Changes to the blockchain have been made with each release. Ethereum’s switch to PoS is a big deal since it was done to increase the blockchain’s capacity. There have been many efforts to create useful apps for the Ethereum network.

Significant interest was paid to Ethereum-based decentralized finance (DeFi) initiatives in 2020 and 2021; nonetheless, participants struggled with high network fees due to Ethereum’s scalability problems. The gradual migration from Ethereum’s current consensus layer to PoS will eventually allow the popular blockchain to scale.

There have been several upgrades to the Ethereum blockchain throughout time; some of these updates were predetermined milestones in Ethereum’s development, while others were made in response to unforeseen circumstances, such as hacks.

Price and Protocol Upgrades

History

Nick Szabo, an American computer scientist and cryptographer was the first to introduce Smart contracts — back in 1994. However, smart contracts gained popularity with the introduction of Ethereum.

Definition

A “smart contract” is simply a program that runs on the Ethereum blockchain. It’s a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain.

Digital Vending Machine (Nick Szabo)

A smart contract, like a vending machine, has logic programmed into it. Like how a vending machine removes the need for a vendor employee, smart contracts can replace intermediaries in many industries.

Permissionless

Anyone can write a smart contract and deploy it to the network. You just need to learn how to code in a smart contract language and have enough ETH to deploy your contract. Deploying a smart contract is technically a transaction, so you need to pay Gas in the same way you need to pay gas for a simple ETH transfer. However, gas costs for contract deployment are far higher.

Immutable? (Matt Rickard)

Smart contracts deployed to Ethereum are, in theory, immutable. Bytecode is uploaded, a constructor function is executed, and the resulting code is stored on the blockchain and cannot be updated. But in practice, contract execution is mutable (delete a contract and potentially re-upload different bytecode at the same address, call another contract’s code, or store the code in state and execute it )

The Merge

The Merge (September 15, 2022)

The Merge was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETH.

Ethereum Mainnet uses proof-of-stake, but this wasn’t always the case. The upgrade from the original proof-of-work mechanism to proof-of-stake was called The Merge. The Merge refers to the original Ethereum Mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain, now existing as one chain. The Merge reduced Ethereum’s energy consumption by ~99.95%.

Carbon Footprint

Before the Merge upgrade, in 2022, the energy consumption of Ethereum ranged between 46.31 terawatt hour (TWh) per year to 93.98 TWh per year. The Merge, which is considered one of the most significant blockchain upgrades on Ethereum to date, brought down the network’s energy consumption by 99.9% immediately.

On Sept. 15, 2022 the Ethereum blockchain migrated from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism in an effort to transition into a green blockchain. What followed was an immediate and steep drop in total energy consumption of the Ethereum network.

Starting from Sept. 15, the day of the Ethereum Merge, Ethereum’s energy dropped down by over 99.9% and continues to maintain low energy usage. As a result, the network’s carbon footprint currently stands at 0.1 million tonnes of CO2 (MtCO2) per year.

When translated to single Ethereum transactions, the electrical consumption is as low as 0.03-kilowatt hour (kWh) and the carbon footprint stands at 0.01 kgCO2, which, according to digiconomist, is equivalent to the energy used when watching two hours of YouTube.

Governance

When something has to be changed in the Ethereum protocol, it goes via the governance process. It’s worth emphasizing that this procedure has nothing to do with how users and programs interact with the Ethereum protocol, as the latter is permissionless.

On-chain events are open to everyone, anywhere in the globe. Everyone is free to create applications and make transactions without interference from any authority.

These apps are built on top of a core protocol, but there is a procedure for submitting proposed changes to that protocol.

There is a high coordination bar for modifications to Ethereum’s core both social and technical structures because so many people rely on it to operate — and therefore, a proposal process is used to approve changes and modifications and voting — This is to guarantee that any updates to Ethereum are safe and have community support.

Governance on-chain vs. off-chain

As a result of blockchain technology, new forms of governance are possible.

Proposed protocol modifications are decided by a stakeholder vote, often by holders of a governance token, with voting taking place on the blockchain.

Some types of on-chain governance already have the suggested

protocol modifications encoded, and will be immediately deployed if they are approved by the stakeholders.

On the other hand, off-chain governance involves reaching a consensus on any necessary protocol changes through ad hoc social debate before enacting these code changes.

Ethereum governance is conducted off-chain, with many different parties engaged.

Decision Making Process

Participants in the Ethereum community play a variety of roles in the network’s administration. Moving in from the most distant participants in the protocol, there are:

• Ether Holders: Ether holders are those who possess a variable quantity of Ether Token. To learn more about ETH, read on.
• Users of Apps: Users of apps on the Ethereum Blockchain are those who engage with these applications.
• Developers of Apps: Developers of apps and tools for interacting with the Ethereum blockchain create programs like DeFi and NFTs that can be executed on the Ethereum network (e.g. wallets, test suites, etc.)
• Node Operators: Block and transaction propagation is the responsibility of node operators, who are responsible for rejecting any erroneous blocks or transactions they encounter.
• EIP Authors: Authors of Ethereum Improvement Proposals (EIPs) are those who draft and submit proposals to update the Ethereum protocol (EIPs).
• Miners: Individuals that operate nodes and validate transactions are known as miners or validators, and it is them who add new blocks to the Ethereum blockchain.
• Protocols Developers: These individuals are responsible for the upkeep of the many Ethereum implementations (e.g. go-ethereum, Nethermind, Besu, Erigon at the execution layer or Prysm, Lighthouse, Nimbus, Teku, Lodestar at the consensus layer).

Impact:

Pros:

Open Ecosystem

A novel, general-purpose blockchain network that allows developers to create and integrate applications into Ethereum, serving as the base layer of an open ecosystem capable of hosting smart contracts and decentralized applications (DApps).

Decentralized Disruption

Ethereum-powered tools and services essentially disrupted various business models or invented new ones with decentralized finance (DeFi) and decentralized applications (DApps).

Proof of Work to Proof of Stake Stake

Proof-of-stake (PoS) underlies Ethereum’s consensus mechanism. Ethereum switched on its proof-of-stake mechanism in 2022 because it is more secure, less energy-intensive, and better for implementing new scaling solutions compared to the previous proof-of-work (PoW) architecture.

Cons:

Scalability

The Ethereum blockchain has an inherent scalability issue, which limits it to around 30 transactions per second. Network congestion arising from the sheer volume of transactions often results in delays and skyrocketing fees.

Competition

There are a ton of emerging smart contract platforms, giving Ethereum a run for its money; namely Binance Smart Chain, Cardano, and Polkadot.

Conclusion

Main Value Proposition — Decentralized Functionality

In terms of market cap, Ethereum is now the second-largest cryptocurrency. The principal programmer of Ethereum, Vitalik Buterin, published it in 2015.

The underlying philosophy of Ethereum is fundamentally different from Bitcoin, providing users with greater functionality.

While Ethereum may be viewed as an entire ecosystem, Bitcoin is a payment network protocol and a value-transfer unit inside that system — and this is what Vitalik and the Ethereum team had envisioned when setting out on the journey to create this.

The potential of Ethereum is enormous, and many claim that it was the most significant technological advancement of the decade — bringing cryptocurrencies into the limelight and closer to the mainstream.

At Unit University we’re committed to providing knowledge resources for the Token economy. We do so by producing updated papers and articles covering projects and people.

For more information about what we do, visit www.unit.network/in/university or email university@unit.network

Thank you for your time!

-Conferences-

Our Unit team hosted the Web3 Media Brunch. Web3 leaders and top minds in the blockchain industry came together in conversation about women’s and media’s role in the economy. All participants who registered for Unit Network are receiving a UNIT Token airdrop.

More than 100 women hackers and creators joined one another in Lisbon to build the future of blockchain, NFT, and Web3 at the first-ever Women’s Hackathon Conference. This was an event encouraging women to participate in building communities, projects, and products that solve real-world problems. Additionally, showcasing women’s empowerment, and inspiring others to join in helping grow a strong, robust Web3 Community!

Unit team members were also present at the Lugano Plan ₿ Forum. This conference brought together world leaders, technologists, and entrepreneurs to discuss nation-state Bitcoin adoption, economics, financial freedom, and freedom of speech.

-Ventures-

During week 3 of Unit Network’s Tokenization Accelerator program, there were over 70 projects that joined, and are currently in the process of tokenizing. For week 3, the topic was #communitymanagement with Olumide Gbenro NFT Advisor -a sought-after NFT advisor known for being super connected in the industry with access to world-class artists, #Web3 developers, and the best influencers in the space. His agency No Rug Agency has helped clients generate over 10 million dollars in revenue last year. He has been featured in Forbes, Entrepreneur, Business Insider, and recently on CNBC to over 1 million viewers in their exclusive series “CNBC Make It.”

About this program:

As Web3 adoption picks up so are entrepreneurs & business owners asking the fundamental question of how best to model a business in the Web3 world. What better way to do it than in the community, sharing learnings, developing, and building together? The unit ventures verticals are committed to bringing on board the best mentors in the world of Web3 who have tried and tested to build sustainable, impactful & profitable Web3 business models themselves. Unit Ventures serves as a catalyst for Unit Network’s overarching vision to pave the way for a fairer future economy through cooperative ownership and decentralized governance models.

Ventures’ Token Accelerator 6-week Program is designed to be a launchpad to help promote and propel people and projects. The course is free of charge to join and only requires an investment of your time, involving 3–4 hours a week. Unit Ventures’ accelerator will help you create your token and manage your community using Unit Network’s L1 blockchain and platform. Throughout every week, there is one Speaker Session and one Token mastermind. A Speaker session is where an expert lectures attendees; meanwhile, the mastermind is a more hands-on, interactive session where attendees ask questions, read case studies and have some of their questions answered.

-Masters-

Thursday for our Unit Masters, November 3rd, attendees gathered in the Unit Masters Twitter space to listen about the topic of Black and Latina Women in Blockchain-The Role of Blockchain Education. Further, Unit Masters welcomed Cohort 12, Week 6 Speaker Michael Healy, Unit Co-Founder. This session topic was “Unit Driven Token Economy.” Participants learned how Unit Network is enabling the Token Economy. The talk given is a part of our Unit Masters free 6-Week Program for Blockchain Fundamentals. Enrollment has begun for Unit Masters, with Cohort 13 starting on November 20th, apply now.

About Unit Masters:

Unit Masters is paving the way for creating a more inclusive and fair economy through equal opportunities and open communities, for all. And you can be a part of it. Connect with crypto enthusiasts from across the globe. Learn with the best. From the best. With live speakers. Receive a certificate of completion upon successful completion of the 6 weeks Unit Masters Program.

Unit Network

Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

Unit Ventures’ Program-Week 3

Week 3 for Unit Network’s Tokenization Accelerator program has begun! We are excited to announce the following updates and information about our masterclass:

Currently, over 70 projects have joined and are in the process of tokenizing. For week 3 of this course, the topic is #communitymanagement with Olumide Gbenro NFT Advisor -a sought-after NFT advisor known for being super connected in the industry with access to world-class artists, #Web3 developers, and the best influencers in the space. His agency No Rug Agency has helped clients generate over 10 million dollars in revenue last year. He has been featured in Forbes, Entrepreneur, Business Insider, and recently on CNBC to over 1 million viewers in their exclusive series “CNBC Make It.”

Would you be interested in joining this exciting program?

More about this:

Ventures’ Token Accelerator Program is designed to be a launchpad to help promote and propel people and projects. The course is free of charge to join and only requires an investment of your time, involving 3–4 hours a week. Unit Ventures’ accelerator will help you create your token and manage your community using Unit Network’s L1 blockchain and platform. Throughout every week, there is one Speaker Session and one Token mastermind. A Speaker session is where an expert lectures attendees; meanwhile, the mastermind is a more hands-on, interactive session where attendees ask questions, read case studies and have some of their questions answered.

After completing the Unit Token Accelerator program, you will be more ready for the emerging token economy than most of your peers! Register here to receive confirmation within 48hrs of your place in this game-changing program. Feel free to invite your friends to sign up too. For more information about the Token Ventures’ Accelerator program, click here.

Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

Exciting news for the Unit Network Community and more, in addition to our appearance at the Sub0 Conference, we will be offering guided meditations, 1:1 well-being coachings, and a safe space to connect with other Sub0 Well-Being advocates from heart to heart. So, join us for your daily boost of well-being at LX Hostel with Unit Network! This event will be held from November 27th to the 30th.

Location: LX Hostel, 103 Rua Rodrigues de Faria, 1300–501 Lisboa, Portugal

“Sub0, the Polkadot Developer Conference, comes to Lisbon in November”- Polkadot.

Polkadot is a heterogeneous multi-chain technology for decentralized networks. It enables a new generation of blockchain networks that solves the current scalability issues of the blockchain. Polkadot is designed to allow many different kinds of blockchain networks to be connected to each other. The idea is that the whole network will become more valuable by interlinking different blockchains, which may have different rules, technologies, and governance systems.

“The program line-up features Polkadot developers from around the community, including from Parity and Polkadot parachain teams.” (Polkadot) The thrilling Sub0 Conference will bring together the diverse developer community already building on Substrate, Polkadot’s framework for building custom blockchains, as well as everyone who’s interested in learning about blockchain development in general. Sub0 creates the ideal knowledge-sharing environment for accelerating the evolution of Web3. Opportunities will be presented by connecting builders and enthusiasts from around the world. 800 devs will be in appearance, this occasion will mark as the largest devcon for the Polkadot ecosystem. Polkadot has hit an all-time time high in development activity recently.

Sub0 Conference will feature two different contents for experienced devs and those new to the ecosystem. Attendees can look forward to engaging in the introductory or builders program. Within the introductory program, individuals will learn about the ecosystem. Similarly, in the builder’s program, you will listen to speaker topics of tech and will be able to work alongside others during workshops.

Likewise, both program spaces will present keynotes and panel discussions, breakout rooms, workshops, expert all-access, parachain side events, and recruitment! For a look into the programs, you can expect to work hands-on during live workshops, along with working to build the latest tools powering innovation across the Polkadot ecosystem. Additionally, connect with startups and developer teams attending Sub0 to help launch your career in Web3.

“We are very excited about the opportunities that Polkadot and Substrate programming language offers. To us, it’s the most progressive ecosystem”- Michael Healy, Founder of Unit Network.

“Unit Network works with and is built upon Polkadot via Substrate and Rust, and soon to be parachain.” — Shelton Beascochea, Business Development and Co-Founder of Unit Network.

Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

We warmly invite the Unit Network Community to come and connect with us in Lagos, Nigeria! We have two of our members Aghamalee Jesurobo, community lead of Unit masters, and Ali Baba, Core team News Member of Unit Network, who will be in attendance.

Unit Network is an economic infrastructure for the creation and management of DAOs and soon the mainstream adoption of the token economy. It has powerful features for everyone!

In this masterclass, you will learn how to create your own token or DAO. You can sign-up for this event here.

There are many reasons to launch your own token, but one of the most important benefits is that it allows you to create a network that can’t be replicated. Blockchain technology is borderless, which means that your network can operate globally with no limitations. If you have your own token, you can use it to reward your community and ensure that they’re an integral part of your business. This is also a great way to build a loyal customer base. Tokens are also a great way to incentivize your community.

This exciting in-person meetup will be on Saturday, October 29th, 5:00 pm- 6:00 pm (WAT).

Where: Boolean Labs 44, Community Road, Off Bamishile Street, Off Allen Avenue, Ikeja-Lagos, 100001

Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

The Power Of A Community token

In previous years, before the advent of blockchain technology powering Web 3.0, there has only been one way to increase and drive value to a craft, business, etc.

In the case of an up-and-coming musician, it involves toiling the paths of creating several pieces of content and distributing it across different social groups, hoping to build an atomic network of audiences that would love their music, and, ultimately, signing a deal With a label. These steps are the route nearly all successful musicians have taken to reach stardom and hit the spotlight.

For a business owner, it’s a similar process. It starts with identifying a product the market needs or wants and selling it to the most accessible buyers. Next is finding a way to distribute the product to reach a more significant number of people who will buy. Just like the upcoming musician, most businesses depend on hope.

On the creator’s end, practically everyone is, such as YouTubers, Twitch streamers, Instagram influencers, and creators. For them, it’s building content around a particular niche, getting many followers, and sometimes leveraging other social media platforms and monetising from there.

In each of these stories, these individuals are similar in their path to monetisation or hitting the limelight. What’s that? Monetisation is an afterthought; it comes after much effort in creating and accepting their content by a vast majority.

This is how every business or craft in the real world operates. The downside to this is that it can be costly to operate. Think of it; an up-and-coming musician will need several instruments to make good music, studio recording, band, and accessories and might even need to finance a few concerts just to get a little fame. These are all expenses that might be hard to fund.

Still using the case of the artist, the other problem is this model only rewards the musician when they hit success; there needs to be a way to return value to the audience who have supported them from day one.

Although this model has been influential across the board, it doesn’t define the most appropriate ways to do things.

How Tokens Bring More Opportunities

The introduction of the blockchain and cryptocurrencies has led to many innovations that will change the landscape and bring a different model that guarantees higher chances of success, expand different monetisation strategies and also introduce ways for fans and audiences to benefit more from the creators’ success. This particular innovation is regarded as the “Token community.”

Token Community

A Token Community defines how a community can drive more value and added utility through its token. In a nutshell, rather than having to put monetization as the last thing when building and bootstrapping, or fans not having any benefit of being loyal supporters or fans.

To demystify this further, let’s go over what having a “token community” would mean for the upcoming musicians and creators by citing real-world examples.

Story One: How Daniel Allan Built An Atomic Network:

This is about Daniel Allan, who harnessed the power of a token community in scaling through the tedious process of having other musicians like the one above had to experience. He didn’t create multiple contents, spend thousands of dollars to purchase instruments, and wait for a record label signing; he took a different path.

Allan harnessed the power of a token community. He decided to raise funds for his new project, “Overstimulated.” He sold a token associated with his upcoming album to raise funds.

What followed next was that Allan garnered the support of many and eventually raised 49.5 ETH, approximately 150% more than he had planned.

To summarize all this, not only did he raise enough money to fund the production and post-production of Overstimulated, he built an atomic network of an audience, who got 50% of whatever he made from the Album and dedicated fans who will promote his work across many more listeners.

Allan later wrote about his experience: “For the first time, I owned all of the music that I was putting out, and people were assigning an actual value to my art.”

This story depicts how Daniel Allan got to monetize early, skipped several tedious processes and uncertainty, and perhaps most importantly, fans who supported Allan’s dream could benefit from the process.

Story Two: What A Token Means for Creators.

Before digging deep here, let’s review how the creator’s model works. It involves creating content, building large followers who are interested, and then monetization kicks which either come as money received from the platform, like YouTube, for hosting ads on your video; or you can rely on other means like selling a physical product online with your niche, having a subscription-based community, brands sponsorship, and promotion, etc.

With a token introduced, creators have a better opportunity to monetize, and fans can monetize and own a fraction of the creator’s work.

How it Works:

Assuming the creator is a YouTuber, who just created an exclusive email, and the only way to access it is by paying a monthly subscription rather than going through the usual method of having them settle in their local currency, you can switch that to only holders of your token will get special access to the email. This works better because now fans feel more connected and dedicated as per ownership but also benefit from the increase in token value. This doesn’t limit the creator to making money through sponsorship and other methods; instead, it adds to it. Unit Network, a tokenisation infrastructure, allows creators to create and manage their tokens. It enables you to manage finances and engage with your community seamlessly.

Other Advantages Attached to Having a Token Are:

● Once launched, the community token can be converted to other forms of money, like dollar, bitcoin, ether, etc.

● Tokens can be used for transactional purposes like purchasing a good or service.

● It can be used as a reward system to incentivize dedicated community members or offer discounts and coupons for token holders who meet specific criteria.

Community tokens are scarce, with just a limited number of the token issued to the public; there’s accessibility, meaning creators and community members can get to use it anywhere in the world, and finally; its ownership is transparent, and transactions with it can be tracked on the blockchain ledger, which is publicly available.

This entire process completely works for any Web 3.0 creator, Decentralized Autonomous Organizations, Startups, Businesses, and more.

The Power Of Community Tokens

● Dedicated Community Member: one clear advantage of introducing a community token into your brand, business, DAOs, or community as a creator is that members who own the token now become stakeholders and investors. Rather than the one-way approach that’s previously experienced by members who only consume a creator’s content, now there’s a paradigm shift as members become investors and stakeholders; they are more dedicated to the progress of the brands, businesses and ensure it succeeds — there are no passive bystanders here.

● More Definitive Path To Success: Unlike before, when creators spend a vast chunk of effort and time creating accessible content, the token model paves the way for creativity to achieve product-market fit — meaning, creators can build a small group of fans who believe in the project earlier. In the case of Daniel Allen, only 86 people were involved in the crowdfunding process to make it a success, which cut the time needed to achieve success. With this, creators don’t need large followers; all that’s required are small believers. This is the role of a community token, and it paves the way for success.

● There’s Digital Scarcity: The value of a community begins to increase over time as it gains popularity. How? Since there is a limited supply of community tokens, as a creator or its products get more attention through marketing, media, dedicated members, etc., the token’s value will increase because the demand becomes higher than the available supply.

Introducing Unit Network

Unit Network is a tokenisation infrastructure where your brand is your bank account. You can create your own token, raise funds, manage finances, have your community onboarded, etc. With Unit Network’s community features, you can also engage with your community, create groups, and events, sell them merch, ask them questions and even create contests. Of course, only those who are dedicated will see and engage.

Here at Unit, we are excited to see more and more creators grow their token economy!

For more info, visit:

https://unit.network

To register and create your token:

https://unit.network/in/ventures

To learn about how you can build a successful token economy, join our Tokenisation Accelerator Program:

https://unit.ventures

Authors:

Lai Dolapo, Roland Bernath

Hello Unit Network Community! We are pleased to announce the following updates for this week’s newsletter:

The Unit Network’s Tokenization Accelerator Program has kicked off, with over 70 projects that joined and are currently ready to tokenize. Web3 enthusiasts came together from 12 different countries. Week 1’s topic was #Tokenization, with Dr. Chris Kacher- Chief Investment Officer at KJA Digital Asset Investment AS. Within the first day, there were 40+ attendees in the Accelerator Mastermind. During this session, tokens were being created, as well as the signup process. Through the first mentor session, 50 participants attended. Startups, brands, and personal tokens were created using Unit Network’s tokenization infrastructure.

This Masterclass is part of Unit Ventures’ 6-week Accelerator program, which offers mentoring, knowledge, funding, and lifetime access to the Unit Network Community!

Would you be interested in joining this exciting program?

Ventures’ Token Accelerator Program is designed to be a launchpad to help promote and propel people and projects. The course is free of charge to join and only requires an investment of your time, involving 3–4 hours a week. Unit Ventures’ accelerator will help you create your token and manage your community using Unit Network’s L1 blockchain and platform. Throughout every week, there is one Speaker Session and one Token mastermind. A Speaker session is where an expert lectures attendees; meanwhile, the mastermind is a more hands-on, interactive session where attendees ask questions, read case studies and have some of their questions answered.

After completing the Unit Token Accelerator program, you will be more ready for the emerging token economy than most of your peers! Register here to receive confirmation within 48hrs of your place in this game-changing program. Feel free to invite your friends to sign up too. For more information about the Token Ventures’ Accelerator program, click here.

Unit Network is building the Token Economy of the future, with billions of tokens to represent the whole world on a blockchain. Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

Greetings, Unit Network community! Starting on October 30th to the 31st, the very first in-person Women conference and Hackathon will be taking place. This empowering event will be held in Lisbon, Portugal.

The Women’s hackathon event will encourage women to participate in building communities, projects, and products that solve real-world problems. Further, this conference showcases women’s empowerment and will inspire others to join and help grow a strong, robust Web3 community.

Want to be involved in hacking at this event? You have the chance to apply!

“This is the biggest women’s event of the year supported by projects like POLKADOT, SOLANA, TEZOS, and ALGORAND — and more incoming! “

Attendees can look forward to listening to speakers, Hackathon team building, Women in Web3 meetup & Networking, Mentorship, presentations from teams, and so much more. Speakers from Solana Foundation, H.E.R DAO, Thy-Diep Ta from Unit Network, plus many others will be present. If you are interested and qualify to be a speaker, sign-up here.

Unit Network will also be providing a travel grant for participants attending the Women’s Hackathon. You can apply for a scholarship with H.E.R DAO and Unit Network here.

Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

We look forward to seeing you at this year’s 2022 first-ever WomenHack Conference and Hackathon!

Location: Montes Claros — Lisbon Secret Spot Estrada de Montes Claros 1300–651 Lisboa Portugal

Date and Time: Sun, 30 Oct 2022, 08:30 — Mon, 31 Oct 2022, 17:00 WET

Throughout every week, there is one Speaker Session and one Token mastermind. A Speaker session is where an expert lectures attendees; meanwhile, the mastermind is a more hands-on, interactive session where attendees ask questions, read case studies and have some of their questions answered. Please note there are tasks to complete outside of the meetings as well.

On day 1 of this program, you’ll mint your token and then build up your own customised tokenization strategy each week. Expert mentors will guide participants on topics such as Business Modeling in Web3, Leadership, Community & Values, Fundraising, Jurisdiction, Taxation, and Tokenomics.

After completion of the Unit Token Accelerator program, you will be more ready for the emerging token economy than the majority of your peers! Register here to receive confirmation within 48hrs of your place in this game-changing program. Feel free to invite your friends to sign up too. For more information about the Token Ventures’ Accelerator program, click here.

Unit envisions a mission of solving Wealth Inequity and Sustainable Development Goals and promotes diversity and creativity within the community. We welcome you to the new social economy where your friends, biggest fans, and financial supporters can join you and your mission. We hope to see you join and be a part of this exponentially growing network.

We are excited to invite you to this year’s Recruin GITEX Global 2022 (Gulf Information Technology Exhibition). Recruin is a Unit Masters Partner organization that helps Business Leaders hire the top 1% of Tech & Digital Experts in the Web 3 Space. This is the World’s most prominent conference meetup for the interest of the Coding and Developer Communities. It will introduce tech-powered revolutions and a view into futuristic thinking for the economy with over 170+ countries and 1000+ speakers.

The World’s most influential ecosystems advancing business, economy, society, and culture, will be unified and gather to share innovative knowledge and scope extraordinary new universes.

“Experience the Undeniable Power of innovation across a comprehensive show of global products and solutions with diverse industry applications”-Gitex.

Seven different Tech communities and one-hundred-thousand business connections will be engaging and speaking with attendees. The following tech communities will make an appearance:

• Global Tech Execs
• Governments
• Coders & Developers
• Startups
• Investors
• Youth
• Academia

The Event will be held within the Dubai World Trade Centre. Those who are in Dubai and attend this occasion are also welcome to visit the TDeFi Pavilion for an enjoyable experience! There will be an exhibition of portfolios showcasing the latest projects that are currently being advised and incubated.

For further information about the Meetup, Click Here.

Sign Up Here. Please be informed that this is an invite-only event, and individual attendees must fill out a form to be registered and receive a confirmation email from the organizer.

Location: Dubai World Trade Centre

Date: 10–13 October 2022

We look forward to seeing you in attendance soon!