Ethereum 101

How's everyone doing? This, my name is Roberto Vázquez. Hey, my ik in crypto, in blockchain, in web 3 is Roberto Intech. And well, thank you Javier for the presentation. Uh, I'm not going to say anything more about myself for now, we'll see at the end if you want to know more.

Right now we're focusing purely on learning. Okay, let's start with the acknowledgments. Thanks to Deomis Labs and Decomics Program. Thanks to this great program that Economics is doing , this material has ended up here . The vast majority will be able to see screenshots of that program.

It's really good. This is the link to that program. I'm going to leave it here so you can take a screenshot and then copy the URL. It's very good. Uh, nothing, well, that and thanks also to Lima for this opportunity.

Okay , so let's begin. Today's agenda is what Web 3 is, what blockchain is, a brief history of Bitcoin, a brief history of Ethereum, and we're going to look at a little bit of tokens and, of course, wallets, right? And which wallet do I suggest you use? Uh, and that's it. Okay, let's begin.

First, web one. What is Web 3? Web 3. For Web 3 to exist, as you might imagine, Web 1 and Web 2 must exist, right? So, the web was the beginning of the internet, caveman internet, when people could only read forums, when you could only read, okay?

So, back in 1989, you could go online and read articles, you could read about houses, and that way you could interact with the internet. Then, of course, you had a... you saw, but then what happened? What happened was that from 2005 onwards you could interact with more applications. In this case, you not only read, but you could also create the publication.

You could have your followers who could respond to you, and you would respond to them, of course, like YouTube, Twitter, Facebook, and various pages within Google. So that was the change from just reading to also publishing. Then, well, what's the problem, right? Because so far there are no problems, it's what we all do every day. We go on YouTube, we go on Instagram, we upload content, statuses, videos, right?

Including some papers. But what's the problem with this, Rob? No, they're always asking. Well, centralization. Centralization is the problem.

Because? Because Google knows what you search for, Facebook knows what you like, Amazon knows what you bought, all your information is on the internet, okay? all the information, and not only that it's on the internet, but that it does n't belong to you. Hey, why doesn't it belong to you? Because, for example, what happens if I upload something inappropriate to Facebook ?

My Facebook account is suspended . Because? For breaking the rules. What happens, for example, if I don't sign the terms and conditions that WhatsApp sends me? Hey, what's up?

I won't be able to use WhatsApp anymore. In a week I can no longer use WhatsApp if I don't accept those terms and conditions. So, there are certain things that these companies have power over the user, okay? On Instagram, all those photos you uploaded from the beach the weekend you went to Mcora, is that photo really yours? Either it belongs to Facebook, or it belongs to Instagram.

That's the problem, because you can have, imagine what would happen if all your monthly and annual earnings came from your social media. You're a content creator, aren't you? And you upload about technology, about history and boom and so much meta, right? Decide to remove your handle, decide to remove that property, you will no longer be able to monetize with it and it will create a big problem for you. What is the solution?

Decentralization. Because? Because in this case, decentralization offers, "Okay, perfect, you can continue creating, you can continue publishing things, interacting with your audience, but now the information belongs to you and only you." And that's what blockchain offers us . Blockchain comes with that proposition, saying, "Okay, fine, there isn't a third party, a trusted third-party company that tells you, don't worry, all your data is with me and I'm not going to make any changes to it, I'm not going to modify it, you can rest assured it's with me."

That's not the case. In blockchain you don't have a trusted third party , but rather this technology replaces that trusted person. Uh, let's also suppose there are many cases of good, of corruption, especially in Latin American countries, right? This, Peru, Colombia, Bolivia, etc. What happens when someone comes along and gives $50,000, for example, someone from RENIEC, and accesses data and says, "Hey, I want you to change that person's information."

No, then that information can be changed, it can be modified. Because? Because there is a person who has access to that database. has access to that kind of data and through that person you can change it, modify it, and end up harming another person. Now, imagine that you can enter and place your data in a place and that place you can no longer modify.

Once you enter it, it cannot be modified. No one can come along and say, "No, this information is not like that, it's false." No, for example, that you can say that the house that is in your name actually belongs to you and it's not like someone can come along, go to public records and change it, right? Or it could be that whatever is in your bank account actually belongs to you, and it's not like the bank can just grab you and say, "No, I'm blocking you because you have debts, you have things you haven't paid, so this money no longer belongs to you, right?" So, to avoid those things, blockchain technology is used.

Then, let's remember that, of course, they can change user names, like what I was mentioning about changing their rules, what I mentioned with WhatsApp's terms and conditions, or even delete people's accounts. There are some examples, for instance, what would happen if Facebook paid you, for example, or Instagram, for the photos you upload, right? That would be cool, wouldn't it? You upload photos, right? As you may know, people upload photos of themselves in Rome, in Thailand, traveling around, and in one way or another, it benefits the government because they're uploading photos of the country, showing it as clean and friendly, right?

For people, it's a beautiful view. So, the government Through this platform, they pay content creators or people, even anyone who uploads their photo. Facebook asks you, "Hey Rob, can I pay you this much and let me use your photo for promotions?" No, it 's not like I'm selling under the table or passing all your data to companies that I know will ask for it, right? Your data without your authorization, right?

I mean, you agree to be paid, and through that, you also agree that they can use your photos, your images, your information. And the same goes for Spotify, right? It would be cool, for example, if music creators who are just starting out, who are in a big production company that can give them all the materials, all the instruments they need to create songs, could, for example, upload a demo to Spotify, ask their family members to come and through Spotify have the option to... So, music creators could get paid, right? It would be great if music creators could get paid through this, and little by little, without needing a patron or a big production company, they could receive funding and gradually buy their instruments and improve their equipment and the quality of their content.

So, those are some examples of companies that would be using WordPress. And well, let's get down to brass tacks . What is blockchain? Well, this is the definition, right? The definition is, right?

Chains of transactions that are immutable, transparent, and decentralized. But, to make it less confusing and to put it more simply, it's like an Excel spreadsheet, okay? Except that in the case of blockchain, when you fill a cell with information, you ca n't modify that cell afterward. Once you press enter, that information stays there forever, okay? You can't modify it.

What does this give you? It gives you security that no one else, no entity or any other person, is going to come along and change what you... You placed it. Uh, right. And in this case, imagine a bunch of computers, right?

That are all around the world, that through methods that I'm going to explain next, uh, protect and ensure that the information is true, okay? And it's not like it's only in one place and that by going to that physical place with that hardware, a person comes and changes something, modifies and influences the digital data, right? Rather, through this blockchain system, there are many computers, each with an identical copy, everyone watching, all the users verifying that the information that passes through each of them is the true one. So, let's go to the story of Ethereum. This person you see here is none other than Vitalicerin, a mastermind, a genius of our time, without a doubt.

Uh, uh, when all this started, he was just a 19- year-old kid who liked video games, who liked to study, and he was studying Computer Science at the University of Waterloo when He suddenly heard about Bitcoin, thanks to his dad, and well, he got bored with college and started looking into Bitcoin. Okay, let's see, let's see what was happening in the world. He started traveling all over the United States, a tour, then he went to Europe with a friend, to part of Spain. The thing is, he ended up going to Tel Aviv, Israel, where he joined a group of programmers who were creating a protocol. By then, Bitcoin already existed, right?

We'll talk about that a little later. They were creating a protocol within Bitcoin. And what they wanted to do was, for example, as you know, Bitcoin allows you to send transactions, that is, the Bitcoin currency to other accounts, right? I send it to Pablo, Pablo sends it to Rosa, and so on. But what they were trying to do was, what happens if I send 0.

05 to Rosa? And make that actionable, so it doesn't just stay as a transaction. It's not just digital currency, but also that when I send money to Rosa's account, it generates an actionable item, and she has to buy something, right? Or she has to give me something in return, right? Like an actionable item.

So, they're putting that together, the Mastercoin people. And what happens? Vital says, "Okay, I'll help them." "I'll help you with the white paper." So, the thing is, he starts working on the white paper with them, and well, he realizes, hey, what we have here is a Swiss Army knife, right?

I mean, we're creating five tools that solve this, but what happens? If we want to add another tool, we have to do it all over again to make six tools from this Swiss Army knife. Why don't we do it like Lego, and give the users the pieces so they can create whatever they want? So, basically, the MasterCin team is like, okay, well, you 're right, but no thanks. So, basically, well, he gets a little annoyed, like, "Hey, you do n't see it, you don't see it, so I'm going to do it."

The thing is, he starts working, writing the white paper because he had this idea of ​​being able to give them more It's not just about transactions, it's about monetary transactions on the Bitcoin blockchain, but about being able to create things, like creating applications, making things actionable. So, while I was writing it, when I was already back in Canada, walking around , finishing describing it, I imagine that walking helps you think more clearly, more patiently, and that allows you to translate the ideas better. So, the thing is, in the end, he finishes it and decides to send it to a small group of friends. With a lot of doubts, yes, because he was afraid, he had some doubts, saying, "Hey, this is nonsense." Hey, maybe what I'm doing is crazy and they'll all get ripped off, right?

Because of this idea. Well, the thing is, the opposite happens. In the end, the small group of friends who passed this information to the white paper said, "Hey, this guy is amazing." In other words, what he's proposing is something very good. Then, they joined in, they joined in , more and more started to join in.

This, after the bitcom exposed the people instead of booing him and saying, "You're crazy, they did n't support him, the team got bigger ." Ah, so in the end they ended up launching Ethereum in 2015 and well, apart from that, well, the rest you probably already know, but something I'd like to highlight is that, well, he was just a 19- year-old kid making important decisions, right? One of the most complicated situations that Vitalic had to deal with was precisely, hey, this protocol we're doing, do we make it commercial or do we make it non-profit? No, because we can also do it to make money from it, you know what I mean? Like Google, we can make a lot of money with this or just leave it as a profit.

He had to make that decision. Legend has it that he left his bedroom, went for a walk, and returned, saying, "No, it's going to be non-profit and boom." And that was a huge change because it allowed so many developers around the world to not only love and serve because of the technology, but also because of its philosophy. That's also very full of that. So, uh, I'll explain further, continuing with the topics a bit so you understand how this works, it's through asymmetric cryptography, okay?

For example, this is an example of asymmetric cryptography. Um, for example, with Gmail, when the sender, in this case, the sender sends an email to Pablo, sends an email to Rosa, what happens? That something encrypts that message that you want, that Pablo wants to send to Rosa, and then Rosa decrypts that same file and it reaches Rosa. In this case, in Gmail, for example, both Pablo and Rosa have their password and their username, right? And he encodes it with his password, and Ros can access it with his password, okay?

And of course the problem would be that in the case of crypto, you don't need a third party, because let's suppose in this case Pablo loses his password, where does he go? What can you do if you lose your password? They call their phone, get in touch, and can recover their password. The problem with crypto is that you can't recover that password. There isn't a trusted third party, a trusted third entity that can say, "Hey, don't worry.

I have all your data, all of Pablo's data, all of Rosa's data, it's mine, it's in my database, I have it, I can give it to you when you ask for it, right?" Because you know that in the end, they have all that information . It's not in their database. In the case of crypto, no. In the case of crypto, the problem is that if you lose your password, you lose everything.

As harsh as that sounds, you lose all the information, access to your user account and everything, you can no longer log in. So, that would be the problem. And well, what happens next? Well, that's not enough, there's also something like a digital fingerprint, like identity in the physical world. For example, how do I know something?

How do I know if, for example, I send something to another person and that other person impersonates me and says, "No, no, no." Rob didn't send it to him, I sent it to him. So, how do we do it? Well, it takes my fingerprint, and you know it wasn't him, it was me. Because that's what distinguishes us people, human beings.

Well, there's also a digital fingerprint in the digital world, which is a hash function. What is this hash function? It's a set of numbers that, for example, if you input something like the word "hello," it gives you these digits. These digits are unique and allow you to identify the origin, okay? So, for example, if I change something in this first word, like, for example, "hello 1," it changes completely.

Similarly, if I put in a person's name , like Jonas, the hash function gives you something else entirely. So, just as I can send names like "hello," or names like Jonas, or words like "hello hello 1," I can also send information, like, for example, Jonas sent $10 to Mary. That information is... You can return something in a function through a hash function. You can return it in this, in a hash.

So, for example, and here I'm going to share this. Oh, oh, oh. Are you seeing it yet? No, you're already seeing it, guys. Yes.

Okay. So, for example, when we have this page, uh, I'm also going to share it with you so you can play with it later. This is a page that shows us what the hash function does. For example, I type "hello" and it gives me " hello" and it gives me this. Through the hash function, it gives me this.

So, what happens if I type "hello one"? It gives me something completely different. What happens if I type "Roberto"? It gives me something completely different, right? So, that's what the hash function generates.

It makes each one of these unique. What else do I share? And this has a lot to do with the MER tree. What happens so we can verify and make this uh, true and understand that What makes this information meaningful and verifiable? For example, each piece of information like "Jonas sent $10 to Mary," "Mary sent $ to Thomas," "John sent $250 to Jonas," and "Thomas sent $100 to Mary"—each of these texts, as you can see here, is passed through a hash function to create a hash.

Okay? So, what happens? In this case, there are four, but on a blockchain, there are thousands. So, what happens when you have thousands upon thousands of inputs and you want them to be secure and unique? Each of these will be hashed through the hash function.

But the problem is that it would be impossible to collect each of these hashes and put them all together. So, what happens? Each of these hashes is combined with the others to create a new hash. Okay? As you can see, for example, this one here—I'm not going to copy this.

Ah, That's right, I'm not sharing the screen. Let's see, for example, this is one hash and this is a different hash. So, by combining both hashes, I get a new hash, and by combining two of these, I get another one. Similarly, if we combine one more, I get another one, right? Here we can put, I don't know, here we can put 15, we can put 20 soles, and if we have more information, we can create a summary of the other hashes.

That's what it allows us to do. So, in the end, by summarizing all those thousands of hashes, we get this here, this here, which would be a summary hash, okay?, of the Merkel tree. And what happens? Through the blockchain, it allows us to identify if any of us are lying.

Why? As you can see, each of the hashes is unique. What happens if, for example, Thomas wants to be clever and instead of saying that hey , instead of having given $100 to Mury, he doesn't I'm going to say I only gave him 10 so they can't overcharge my account, so they don't deduct it from my wallet. What happened? If he wants to change that information and put it back at 10, he won't be able to.

He won't be able to because each of these texts has a unique hash, and changing just a small part gives you a different hash. So, it contaminates and corrupts little by little until it gives you a completely different hash summary. And as I mentioned, since all the arrangers have a copy, everyone has a copy of the blockchain, then everyone else, the users, the community, realizes, " Tomás is lying," so Tomás's copy is automatically discarded. And now let's go over a brief history of Bitcoin because it's important to understand what's coming. On October 31, 2008, Satosina Nacomoto launched the Bitcoin White Paper, right?

A system of transfers, like You know, digital aces via peer-to-peer, right? This turned out to be the first implementation that achieved popularity. Keep in mind that it was the first, the first successful one, because Bitcoin as a cryptocurrency wasn't the first to come out, but it was the first successful one, and since it was the first successful and popular one, it's considered that Bitcoin marked the birth of the blockchain industry. Okay? Uh, that's what I wanted to mention as well.

Well, Bitcoin came out approximately after a collapse in the United States where many people were buying properties through mortgages, and in the end, the banks were selling off those debtors, right? They were taking people in groups of 100 and saying, "Hey, I'll sell it to you." And I was telling them, "No, these are the ones who actually pay, right?" These are good payers indeed. "I'll sell it to you."

They were passing it around, and in the end, what happened? They realized that only one out of all 100 could actually pay, and that's when everything collapsed. Then they started to realize what was happening, right? Even the government helped them, I mean, they helped those banks so they would n't go bankrupt, and for those users they said, "Hey, what happened?" That is, through the taxes I pay, the government literally takes money from my account to pay for, to help survive, these companies that caused me to fall into disgrace.

They are helping the entity that caused me to fall into disgrace and lose my money. So, many people started to see Bitcoin as a security currency, right?, in relation to the system that was in place at that time. So, well, there's a small clarification needed. I was mentioning Bitcoin, but there's a small clarification you need to know: what's the difference between Bitcoin and Bitcoin?

Bitcoin, where the big B refers to the blockchain itself, and Bitcoin with the small B is the cryptocurrency, okay? That 's the big difference that not many people in the web 3 environment know. So, you ask them, "Hey, what's the difference between Bitcoin with a big B and a very small B?" It's simple, they don't tell you, they don't know, and that's the big difference. Okay, so this cryptocurrency goes inside each of these blocks, right?

Keep in mind that you also need to know that Bitcoin is the only currency that works within the Bitcoin blockchain system, right? Uh, it's the only currency precisely because it's a very secure system, uh uh and because it's closed. They just say, "Hey, I'm offering you security, but you can only use this cryptocurrency. You can't use dollars, you can't use your soles, you can't use any other type of currency; it only allows you to use this currency. So, if I want to use this secure system— because it's very secure—I absolutely need to have Bitcoin, okay?

So, the fact that you can, or rather , the fact that you're forced to use this secure system to buy, to have Bitcoin, makes it impossible for the currency to be worth zero, because anyone who wants to use this technology will always have to buy, will have to use Bitcoin, okay? There are many who use Bitcoin to make transactions, right? But there are also people who use it as an investment, right? Whether it's an investment, as you say, isn't bad either, because just like you buy, for example, Visa shares, right? You also buy Bitcoin to see it as a long-term investment, right?

But Bitcoin also allows you to do things within the Blockchain for paying and sending to other wallets, right? So, uh, well, let's talk a little bit about mining, specifically in relation to Bitcoin. What happens then? Each of these hashes that goes inside each block to identify it—and something I didn't mention is that each block has a hash. As you can see, it would be this one here.

So, what happens? How? Because I'm sure you miners have heard this, what happens? What do these famous miners do? Well, what does the blockchain do?

It says, "Okay, so to make sure that this hash here is correct, that it's the real one, using the information below, what happens?" I want you to guess the first five zeros, right? I want you to guess the first five zeros, as you can see there, or the first six zeros of this number. And if you guess them for me, you're going to get a reward, right? That's when all the miners, all these people, compete with each other to obtain that information.

Okay? In this case, as you can see, I'm sharing this little screen again. I'm leaving quickly here. As you can see, it's unlikely you'll get a zero at the beginning. For example, I'm going to keep trying here until I get a zero.

Oh , one already came up. There it is. Well, I got two. Well, one in this case. So, I have to get five zeros.

That's why they use a lot of this computing power to be able to calculate, to do this complex mathematical application. So, by calculating and seeing what the numbers are, right? What numbers, adding what numbers, allow me to get the output to have that zero, well, five zeros, that would be the winner, okay? So, the more computing power you have, the more processors you have, the faster it calculates and therefore the faster you can get the correct hash. And if you have the correct hash, you get rewarded.

You get rewarded. If you get it right, you get rewarded. And if not, they simply say, "Okay, this is n't it, this is fake." Because once you say, "Hey, look, I've got this one here that can give me zero." Let's see, I'm looking for someone else who can give me zero.

Oh, I think someone already gave me zero, didn't they? None. Okay, that's it. Let's assume it's already at zero. Let's assume I already have the correct hash that gave me zero.

Ah, yes, perfect. So, at once the whole community, all the others who have this, all the other miners grab, they take the hash because as you can see, they can take it here, right? I cut all this out, well, including my name , I cut it out, I reload it, I paste it and it comes out identical. It's the same thing. Then they can say, look, here's the hash.

Then everyone copies it, pastes it, and says, "Oh, no, yes, that's right, it's the real one." Then, once everyone verifies it, boom, their reward drops. Okay? And if not, they simply say, "Okay, no, that's not true, you don't have it." So they stop using that version, uh, that copy that's on my computer is no longer useful, it 's no longer part of BL, it's no longer considered part of it .

So, sorry, I'm going to share the screen again. Perfect. Okay, so let's move on to Ethereum. I mentioned a little about Bitcoin to help them understand the Ethereum part. Uh, basically in Ethereum, you remember that Bitcoin is the only currency, the cryptocurrency that you could use within the technology, the blockchain system of Bitcoin is Bitcoin.

So, what's going on? That's not the case in Ethereum . In Ethereum, if you want to, for example, transfer this $100 to Felipe, you can do it. In other words, you can send $00 here to Felipe or Rosita or Jorge. It's not like you can only send transactions through Bitcoin here.

So that's what Ethereum allows, and it not only allows you to send transactions, but it also allows you to send code, which is something that Bitcoin doesn't allow . So, you can send code, and what could that code be? That code can be an application, it can be applications, it can be assets, it can't be a certificate, it can be the certificate that you attended the first course, right? At Ciru Lima's first event, right? So, it could be that type of code that goes inside here, not just a monetary transaction.

Uh, the thing is, Ether is only used to pay the fees. So, when you're going to make a transaction, you need to pay a fee for using the blockchain. So, that fei is used in Ether, it's used in that currency. So, thanks to that, it pushes you and forces you, in fact, to be able to buy Ether in order to make those transactions, in order to use the Ethereum blockchain. That's the difference between the Bitcoin blockchain and the Ethereum blockchain, isn't it?

They even dared to do this with a volatile currency, didn't they? As you know, this letter is volatile, but if you don't want to, just put it here, right? This is dollars too, right? It allows you to use suns, right? Okay, one more thing, what is staking?

This is important because you've probably heard it before. Um, there are two types of staking: proof of work and proof of staking. Proof of work is what Bitcoin is talking about, which is spending a lot of electricity with a lot of processors. They've also heard about Bitcoin glasses, right? This is so I can perform those complex mathematical calculations and obtain that hash to take those bitcoins.

So this is fine, but as I said, it's quite harmful to the environment because of the high amount of electricity it consumes. And then there's the post, which is the proof of stake. Until 2022, Ethereum used P and PO, but from 2022 onwards they changed it to P, which stands for Proof of State. What is proof of stake? Basically, oh, okay, basically it's about, okay, instead of me having to spend a ton of money on processors to do those complex mathematical calculations, what the blockchain deumion tells me is, "Okay, we're going to do this differently.

We're going to be more random. It's going to randomly land on one of the validators." And how can I be one of the validators? Instead of "validators," they're called validators. How can I be a validator?

Well, to be a validator, you have to stake 32, which I think is like $100,000. So, you have to have $100,000, well, in ether, deposit it there, lock it up—that's called staking— on the blockchain, and that way I assure myself and give the blockchain the confidence that I'm going to do my job honestly. Why? What happens? It's the same thing I was talking about before.

I do the mathematical calculations, but in this case, it's not I wasn't competing against others, but the system randomly chose me, since I have 32 staked. So, once I'm chosen, I have to find the hash. What happens if I find the hash? Well, great, I get congratulated, rewarded, and given Etters. But what if I'm a bad person and I have bad intentions and I change it, I don't change certain parts and I make the information false?

Then the system punishes me, it tells me, "Rob, you're a liar." You've tried to change this information about such people, yours too, huh? Then, we're going to punish you. They're going to hold onto those 32 ethers. The system keeps it.

Do you understand me? So that's one way the system ensures that people, in this case, the validators, do that job correctly, honestly, without trying to cheat, and if they don't, there's a penalty. Speaking a little about tokens, this is why I talked about cryptocurrency, not cryptocurrencies, but there are also tokens that you have surely heard of. The definition of tokens is that tokens are data structures that can track amounts, permissions, and other metadata for users on a blockchain. But to put it simply, in layman's terms, tokens represent ownership of anything digital, right?

Yes, examples, um, books, right? Music, art, these certificates, uh, properties, right? This, property certificate, course certificates. So, a token is basically that. What is the difference between a token, a cryptocurrency, and a cryptocurrency?

Because you've probably heard, "Hey, I was scammed out of cryptocurrency," right? Therefore, this, I do n't know, I don't know how much, right? Look, I really saw her on the news, didn't I? But what's wrong? To be a cryptocurrency, it needs to have its own blockchain, okay?

In the case of, for example, if I create a coin called R within the Ethereum blockchain, no, I create a coin, it is a token or it is a cryptocurrency. It is a token because it is inside because it does not have its own blockchain. In this case, this Ether is a cryptocurrency because it has its own blockchain. Bitcoin is a cryptocurrency because it has its own blockchain. Anything else is a digital asset.

So, the thing about me being scammed with a cryptocurrency, right? I don't want to name names, but for example, I'm not saying they're scams, they're meme coins, but for example, Dog Coinit, this Shivainu, right? Etc, etcetera, etcetera, right? Pepes, I wasn't scammed with this, I lost a lot of money, I do n't know how much, hey, hey, no, you didn't lose with a cryptocurrency because cryptocurrency is reliable, it is reliable, Letter is reliable, Bitcoin is reliable, what has been scammed is with a token, okay? which is a digital asset, which is like, for example, if I uploaded a video to YouTube, I upload a video to YouTube and I upload it, which would be this token, but nothing can say that this information that I am saying in the video is true, right?

Nobody can say, "Okay, it's true, it can be very fake, right? So it's the same thing, they can create tokens with malicious intent as well as tokens with good intentions." So, basically, I wanted to make that clarification. Well, something interesting about Ethereum, about the Ethereum blockchain, is that, well, in fact, Ethereum, however secure it may be, right? By talking about how each person has a copy, we can see through the hashes if there are any changes or modifications, and we can see if they are lying or creating false information.

This makes it very slow because, for example, Ethereum is every 10 minutes, you receive this every 10 minutes and you can enter information. So that makes it more complicated, it goes to the moment of de-escalation, right? So, uh, what's going on? Since code can be inserted not only into these transactions, but code can be inserted into other systems, entrepreneurs and businesspeople started to emerge, right? People who know how to program, say, "Hey, why don't we create applications?"

Instead of these apps just being apps, right? We can also create blockchains. Then they started creating blockchains within the blockchain of either Optimism, Base, Zingc, and others, right? Whether it's return and others. So, within a single block there are, for example, within a single blockchain there are many other blockchains.

So, these blockchains allow you to be much faster because in this case, for example, instead of storing this here, they remember the summaries of hash summaries that I was talking about earlier, right? This one, for example, this one here, instead of being stored here and occupying all this space, is located here. So, if there's one here and you can add many more, and there are already many other blockchains with thousands of hashes, then let's say there are 1000 blockchains that are called layer two because they are built on the Ethereum base within the Ethereum blockchain. So, this creates a huge information storage capacity and makes it much faster and lighter in this case. This, and well, going to the part about wallets, what wallets exist, there are centralized wallets and decentralized wallets.

Binance and Cracken are among the centralized exchanges, right? This one, and within the decentralized ones there's MetaMas, Trust Wallet, and there's this Ledger, right? And treasure. In this case, within decentralized wallets there are two types: hot wallets and hot call wallets. HotGallets are basically connected to the internet, meaning you can install them as an extension and have them on your computer.

On the other hand, they're the safest, most reliable, and the ones that everyone who's been in crypto for a long time uses, right? This understands and has, in fact, these are the Este wallets, which are the ones that really keep your money safe. Uh, what else? Ah, that's what I wanted to mention. Hey, where is it?

Well, it's backwards, but anyway, I'll communicate. This exists within wallets, just as public cases and private cases exist. Uh, it's like, for example, publicate would be your username and private case is your password, okay? Uh, this is used to protect your information in an encrypted way, right? For example, Alice.

Alice has a public key and a private key. Bob has a public key and a private key. Uh, for example, Ali sends an encrypted message to Bob. He sends me the message, encrypts it, and sends it to Bob, right? Bob decrypts it and receives it, right?

This is done through your public key and your private key. This is like, for example, Gmail emails, right? Uh, Alice sends him an email, a message through her publisher. In this case it would be Bob's email, not his, right? There you put this send to.

Then it puts Bob's email address there, it would be exactly the same with the message, "Hi Bob, I'm sending you a message." So that's settled, Bob receives it. And how do we know that Bob receives it? Because Bob can. And how does Bob know that even this Alice is the person who sent him?

The question is phrased this way, right? How do you know that the message received is from Alice and hasn't been altered by someone else? It's because of the password. Thanks to the password that she had to enter because she sees when you enter your email you see that such a person sends you an email with their email address with that person's ring, you realize that that person has indeed sent you that information. Uh, yes.

So, that's it, well, yes, that would be all, guys, for today's exposition. Well, I repeat, many thanks to Deomic Labs and Deconomics. If they took notes, I hope they noted the URL. If not, I'll make a quick mention here, taking advantage of this, that it's a super course. In other words, all this information that I just mentioned is much, much more detailed, and with examples, etc.

, on this website. Go to programa.deconomicdeconomics.com and you will find all the information. Here you have access to the program, WhatsApp group, right?

So it's really good, it's really good, and I promote it so much because maybe not many people know about it, I mean, it's mostly a privileged few who know about it, and it can start to give you a big advantage compared to your friends and family, right? So, it's very well explained, I especially like that it's in Spanish, and that's it. Uh, that was it. Well, what else? Well, some things about me from the person who is speaking to you.

I left this for last because I thought it was more important to have the information beforehand in case anyone had to leave. Well, I'd like to tell you that I've been in the Web 3 ecosystem for over 3 years. I've been involved since 2022. I've visited more than seven countries thanks to Web 3, including Thailand, Turkey, Sweden, Spain, Mexico, Honduras, El Salvador, and Colombia. Uh, I was a volunteer leader at despon in Istanbul in 2023.

It's a scholarship I won for deb 3. I was also a volunteer leader at DEFC with Bangkok last year (2024), and I led the organizing team for this event along with Yami and Javier at Lima Day 2025. Currently, I'm the Education Operation Manager at Skipu, a company that trains Web 3 programmers. Uh, right now we're in Brazil, in Argentina, in Colombia, in Ecuador. I am currently an advisor on the CU Lima team and of course a scholarship recipient for the deep investment course at Finomic.

That's why I'm mentioning it again, these are my social media accounts if you'd like to follow me, and thank you very much.