Blockchain 101 Marathon - Maggie Love

okay so um a little bit background on myself my name is maggie love i've been in the crypto space since 2017. um my day job is i co-founded a joint venture between consensus the ethereum company and advanced micro devices the hardware company and we build um data centers for crypto networks um so i do research and business development for that company and my night job is educating um women and others on everything crypto crypto d5 nfts dows um it's called chief i when i thought of the name in 2019 i was like oh i have to do this and so really i want to encourage women and non-binary folks to start playing with their money and get comfortable right because if we don't try these different things we obviously don't lose money but we also don't ever gain wealth so i started this program called shify cohort based learning and inclusive community um launched my first cohort in october 2020. that was about 20 women i'm about to onboard my fifth which will be about 200 plus women and so um there'll be like 24 of them here which is really exciting because the last december 2020 i was socializing this idea and getting support from my fellow community members and we've grown a lot so i spent a lot of my days educating thinking about how to make crypto more accessible all these terms so this is what hopefully i do today so uh we'll do a quick introduction which i guess did uh blockchain 101 so what cryptocurrencies tokens digital assets the ownership economy and key takeaways for today right what is a blockchain what are cryptocurrencies tokens and digital assets so what why does it matter a lot of this information that i present i want to make sure you not only understand the technology or the concepts or the terminology but why it matters right because that's really why we're all here we're here because blockchains and tokens have a lot of power to change the way we do finance the way we do community the way we do entertainment and so i just really always like to drive that home in my presentations we'll go over how the blockchain works we'll go over the lifecycle of a transaction in the proof of work world so it's going to look a little different going forward for us in the ethereum community and looks different for those of you that are already working on proof of stake networks and then we'll do some blockchain challenges and solutions open it up for q a and so here we go okay so blockchain 101 right and so this year i think none of us really expected it but magical internet money has really gone mainstream uh so right square's been in the news buying a lot of bitcoin people sold an nft for 69 million and if you haven't seen his reaction to that i'd highly recommend it um paypal launches a super app where you can now have crypto in it uh reese witherspoon um heidi klum snoop dogg the super bowl is going to have tons of nft stuff this year um and dows are in even like dance music magazines so really this is just to say that i think 2021 has been a big watershed moment and we're not really on the niche corners of the internet anymore whether we like it or not we're in the global consciousness and just this is you know a really small small small subset of different types of crypto tokens so you can see some of these different icons maybe you recognize some of them we have deep ethereum obviously the og orange bitcoin gemini dollar ave etc and really i like to contextualize um the blockchain in a couple ways the first is the evolution of the internet so you might be hearing web 3.0 a lot if you look at twitter and a lot of people are actually saying like this is a great marketing scheme and i kind of and newbies and i find that kind of funny because it's it's not really in a marketing scheme it is actually a whole new internet infrastructure right so we start with arapanet all the way on the left in the 1960s then we have tcpip we start to get to world wide web or web 1.0 in the 1990s while we all well not all of us there's some people in here probably never heard a dial up before and waited to access their aim chat but that was happening in the 90s the reason i have napster in green is because it is a peer-to-peer file sharing technology so we do have some of the beginnings of that right the web 3.

0 didn't just pop up um in 2009 people had been working on these different internet technologies distributed ones we have what we call the social web or web 2.0 we have media companies now not only can we just open a web page and read stuff we can actually talk to each other we can communicate so this is what we call the social web and then really around 2008 is when bitcoin white paper was released we have ethereum network go live in 2015 and then i always highlight d5 and 2018 2019 because shify was started out as a specifically defy educational initiative so we have the blockchain and web 3.0 and what i want to point out is when we start on the left the web is very static and centralized and as we make our way to the right the web becomes more dynamic and more decentralized and more so we have you know the internet companies is where we get the dynamic um blockchain is where we have a decentralized internet infrastructure and if we think about the metaverse it's only going to continue to get more dynamic more interactive more decentralized so that's kind of how we can think about going from web 1.0 which was centralized static to web 3.0 which is decentralized and very dynamic so blockchain is not only the evolution of the internet right it's also an evolution of financial ledgers and we've been keeping account of who owes who what for a very long time over in the bc area we have sumerian protocuniform tablets right who owes stuff for grains and other goods we want to make sure we get paid no matter what that value of exchange is this is obviously a very summarized timeline lots has happened in the financial world but just the highlights we have in the 14th century double entry bookkeeping which was a very big change in the way that we accounted for things then we're going to fast forward all the way to 1933 when the united states starts going off the gold standard and we have this idea of fiat paper money so fiat money is just currency issued by a government and that's what we start taking in for accounting and all the central banking had to start using this paper money as a form of keeping record of things and who owes who what then in 2009 we have distributed ledgers so we have this new financial technology bitcoin a peer-to-peer electronic cash system and now we're accounting for things in not a centralized way but a very decentralized way and we'll get into that but we have ledgers um so bitcoin is blockchain is also just an evolution of financial ledgers so technically a blockchain is a distributed ledger of transactions that is automatically replicated shared and maintained by a network of peers who are operating without a centralized authority i'll highlight some themes a couple times in this presentation one of them is no central authority we are disintermediating the central authority with the advent of this technology so really quickly to compare we have a more traditional system so these systems still exist today think about your bank all the computers are talking to the bank computer now mind you a bank probably has more than one computer but just for the process for the sake of simplifying and this bank is keeping a record of all the transactions if you log into your bank you can see your transactions you can't see anybody else's transactions so they manage all of it and only the people with inside the system can really see what's happening on that ledger with a blockchain system it's managed by a network of computers that through code are acting as one computer so all these computers have copies of the transactions are storing those transactions and making that public for everyone to see so no longer are we just relying on one system to keep record of all of our transactions we have a global network of computers keeping a record of all of our transactions and so what why does it matter right so before uh we did all of our transactions through a bank or through some other type of platform um you know somebody was guaranteeing that your money would get from wallet a to wallet b or point a to point b and now with the advent of blockchains and ethereum you can send your network your network your money in a peer-to-peer fashion right so now all these computers that are operating via code without a centralized entity all these peers are allowing you to transfer things in a peer-to-peer way so we no longer really need banks to secure our transactions right so for combining these two concepts the blockchain is a new internet infrastructure underpinned by a shared distributed ledger that records peer-to-peer transactions so it's a new internet technology based on a distributed ledger and it records these transactions and coordinates and replicates them among all the peers and so what why does it matter who cares i hope for some of my like millennials in the audience you get some of my gifts this is some old snl we have here i'm an elder millennial so like all of my gifts are elder millennial memes and i also don't watch tv because i'm in this crypto rabbit hole 24 7.

so i won't you won't see any euphoria in my presentations right so so what um why do we care about blockchains why did it capture the hearts and minds of so many people why did you denver go from like 200 people in 2018 to i think like 8 000 that's probably a low ball i heard 36 000 people applied um today we live in an imperfect world if we start on the left of this slide wealth and power is aggregated among the few instead of spread to the money right so the richest people in the us are all worth billions of dollars and i just heard a stat on the bankless podcast that 40 percent of americans only have a thousand dollars in their bank account pretty crazy and 2008 crash what happened to all the money right so this was just a really prime example of what happens when a bunch of people have control over opaque ledgers and are doing nefarious things it really hurts a lot of people who aren't on the inside and my friends who worked in banks said all of those people who led to the crash still have their banking jobs today if we look at the center here people today are required to trust entities with sensitive data transactions and records right so we all know facebook is selling our data a lot of us still have facebook profiles we're feeling kind of like whatever about it but really we shouldn't and then on the right internet interactions run on centralized web servers vulnerable to attacks and being tampered with so even from who controls the money and the transactions and information to how it's stored every single part of this is centralized and it leads to a lot of negative externalities for the people not in control of these things and so what we have bitcoin and satoshi nakamoto either a person or a group of people and this is the first bitcoin block you can see in the center it says the times uh 0 3 jan 2009 chancellor on the brink of second bailout for banks um which pretty really upsetting especially if you were an everyday person who'd been hurt by the banks right and so why do we care about bitcoin it's the first successful implementation of peer-to-peer decentralized digital money so bitcoin was really just the perfect combination of all these things people had been working on cryptography had been working on the concepts of digital gold have been working on distributed technology for a long time but satoshi got it right however bitcoin has limited functionality so the bitcoin code of what i'm most up-to-date on there's some bitcoiners in here who might have something to say but you can send bitcoin you can receive bitcoin it's that rhett ledger right it keeps you know an account of who sent to what um and you can hold bitcoin but you can't do much else with bitcoin however bitcoin really inspired many people to work on alternative financial systems which we're all here doing this week and so what we have ethereum now so write ethereum expands on bitcoin's vision and is architected so many types of use cases can be built on top of it now any application can be reimagined in a peer-to-peer framework so ethereum is code that is more programmable than send and receive and keep account you can actually build applications on it and now we can cut out the middlemen of many platforms and allow producers and consumers to interact directly so if we think about any application truly maybe not amazon because they own us but we can think about disintermediating any type of industry finance entertainment of these which i'm sure a lot of you are working on different projects this weekend to do just that and so what why do we care properties of blockchains that allow us to redesign better systems right so what is it about blockchains that allow these open systems to work they're decentralized right so their peer-to-peer network with no centralized point of control so no organization and no technological point of control they're truly all connecting and interacting with each other it's permissionless so it's public think like a public park anyone globally can build and access it it's transparent all activities are recorded and verified and so even though like when you look at ether scan which if you don't know what that is it's a block explorer so you can see all the transactions happening and when the blocks are mined you'll see all these strings of letters and numbers unless somebody's bought in a human readable address and so you may not know who that is or where it's going but it is all recorded and it is all transparent for anybody to see so if you're a good detective maybe you can figure out where the whales are and then let me know um it's censorship resistant so right this is a really big and hot topic in the web3 space so what this means is no entity can control who transacts on or change the rules of the network so once the code is deployed it obviously is upgraded at times right like we had the ethereum eip-1559 upgrade 1559. i don't know we can debate how you say that but there's upgrades but no one can change like how it works right and that's a really big deal because if we think about other web 2 platforms we use like twitter right i think they closed all their apis or made you start paying for them that's not going to happen in the ethereum space rules are written in code they're accepted by everyone in the network and then everyone acts according to those rules also what i think is really cool about this is like if you use a defy project and you compare it to a bank a bank is going to have all this subject subjectivity and who you are where you are what your credit history was and give you specific rules based on you where d5 is going to give everybody everywhere in the world the same exact rules for using their platforms you'll get the same interest rate for lending or borrowing you'll get the same prices all of that so i think that's really important that everybody gets to play by the same rules now in a way that isn't traditionally done then we have smart contracts so you'll hear a lot smart contract platform other smart contract platforms so joe lubin used to say like smart contracts are neither smart or contracts really they're just pieces of code that are you can write programmable logic in it and they can self-execute and so this is what the type of code that allows us to do more than send ether receive ether account for how much ether is going where in the network you can build all these applications and now we're going to take a quick look at cryptocurrencies tokens digital assets and so what are cryptocurrencies they're digital money so they are medium exchange and a store of value they're native to a blockchain so cryptocurrencies are issued on their own standalone blockchain so bitcoin is issued on the bitcoin blockchain ethereum is issued on the ethereum blockchain and they're decentralized and run on these peer-to-peer networks so remember when you're sending bitcoin you're sending it over the bitcoin network you're not sending it over chase bank you're not sending it over any other web 2 platform it's issued and managed on a blockchain network and these networks don't go through banks and governments that's why a lot of people were excited about it as well because you could say hey government you're failing us hey banks you're failing us now i have a whole new digital currency that goes outside of you and goes globally outside of you and this is why i'm surprised that it's sort of taken the government to get to take this long to start like catching up to us because what i'm saying like then the sentiment isn't new people have been saying like we're going around the government for years right or we're going outside of banks um so you'll hear it even if you listen to all these podcasts it's a very revolutionary way to speak and so i'm just like i'm just surprised it's taken them this long use cryptography right so they use cryptography to secure the transactions and verify the transactions sorry to secure the network right and verify the transactions so digital money have their own blockchain use cryptography and then what are altcoins right so you might hear altcoin altcoin it's all coin season it's all coin season i'm very bad at altcoin season i try and i'm not the best at it but bitcoin was the first cryptocurrency issued on and is managed by the bitcoin blockchain like i mentioned all coins are just a cryptocurrency alternative to bitcoin bitcoin is the og bitcoin is the matron bitcoin is the you know grandpa of blockchain and it's not going anywhere and so everybody else is an altcoin we pay our respects to bitcoin so dogecoin is issued and managed on the dogecoin blockchain and ethereum is issued and managed on the ethereum blockchain there is an avalanche logo up here and a solana logo i don't know how you feel about that i'm just trying to prove that there's other altcoins out there and so what are tokens we know what cryptocurrencies are and then we hear tokens so it's like wait cryptocurrencies and tokens how are they what are the nuances a lot of engineers came up with the nomenclature for this stuff which you know can sometimes lead to some nuances and confusion um so what are tokens they're a unit of value they're digital money just like cryptocurrencies what's different about them is they are not native to a blockchain remember i said bitcoin as a cryptocurrency is issue is native to the bitcoin blockchain ethereum is native to the ethereum blockchain but then ethereum has all these other protocols that have tokens as well so really what tokens are or they're created by protocols that build on top of blockchains so you think if a cryptocurrency has its own blockchain tokens run on top of other blockchains and are issued by the protocols building on them ethereum has token standards some of them you may know erc20 erc 721 everyone's favorite nfts and many more and the entire internet whether it's web 2 or web3 runs on standards and what those token standards allow is for all these applications and their tokens to interact with one another and to seamlessly flow throughout the ecosystem and so they also use cryptography right to secure and verify peer-to-peer transactions and so if we're kind of getting more into the nuances uh the cryptocurrency use case is digital money that is bitcoin's main use case if we think about tokens they're a broader unit of value and value use cases than digital money so it can be ownership in a crypto protocol or organization i'm sure how many of you belong to a dao how many of you want to belong to a dao okay some of you don't but they can be ownership in a protocol and organization and if any of you own eth you're actually all part owners in the eth protocol these tokens can be used in governance or voting so a lot of the protocols like ave has the ave token that's used to be staked other places that's used for voting same with uniswap so it's this idea that a token has more utility than digital money you can use it for things if you have these tokens you can have a say and a product or a protocols or an organization's future roadmap and what it's going to do and then finally it can be physical and can be a digital representation of physical and other digital assets so people want to tokenize real estate people have you know their favorite art digitized and so really tokens can represent all these things beyond money like i said tokens are created via token standards we won't go over that again sometimes i skip ahead and so why is all of this important why are blockchains and tokens so important well let's take a look at web 2.0 web 2.0 platforms have millions of users who make up the community but users of web 2.0 platforms receive little to nothing for their contributions right facebook wouldn't have been anything if we all didn't make profiles instagram wouldn't be anything if we were all scrolling liking um you know buying things now which is not my favorite feature it's too easy um you know even reddit all these community-based platforms really rely on us using them that's the whole point that's what their product market strategy is like get everybody using these platforms all the time um so what can happen is users are beholden to unfair policies algorithms and monetization schemes even shify runs on instagram shify.

crypto where i break out down all these concepts tell your friends tell your families follow to get more crypto knowledge but when talking with my social media manager it's like we have to do this for the algorithm and this for the algorithm and i'm like i just want to share educational content but it's true also on web 2.0 platforms data contributions and other value is extracted from them by platforms i don't think we have to go much more into this point we're very aware um that these platforms are raking in millions and billions of dollars and not always treating even their own inter internal employees fairly but definitely not the community and so they have a massive profit right it just sometimes feels really dark watching those hearings and seeing like mark zuckerberg and all these like internet conglomerates like you know speaking because you're just like wow those could be the overlords but hopefully with web 3.0 we can stop that and so really what blockchains and tokens do is they um enable what we call the ownership economy you may see that a lot i think that'll be a really big theme this week and so that's all about us the community um really owning things instead of these platform i don't know maybe oligarchs i don't know what to call them that just feels like a darker word of a ruler i don't know okay so blockchains and tokens make users of platforms owners of them too so you're an owner in two ways users own and manage their personal data and digital assets so if you think about it you know this was a this was commonly used in 2017 when i first joined the space but we were going to have these digital identities where if we went to a bar we would have to scan a barcode and only show that we were 21 right i wouldn't have to showcase where i live i wouldn't have to showcase what my height was and my eye color was and so this idea that we actually only really need to share we get to control when we share data and that is the case for many of the platforms today another way you become an owner so not only in your personal data and your digital assets obviously your digital assets you you have a user controlled wallet if it's not in an exchange you own your nfts you own your currencies you are now your own bank and so that's a really important part of this ownership economy too and now you can also become owners of a platform through acquiring tokens think of it like company shares um so you can earn or purchase a platform's token maybe you really just like love a platform and so you can either just purchase the token on an exchange or you can earn it through contributing to that platform sorry i think there's a little sorry you also can earn tokens through using the platform so you have heard of airdrops right so uniswap back in the day dropped a bunch of uni tokens to people that had used it and i think a lot of us in here are probably in those chats where they're like use this platform they're going to airdrop a token and like why not that's definitely the way to go if you can do it and then you can also contribute work to the platform and earn tokens as well right so when you earn these tokens when you hold these tokens remember i said they can have voting or other rights attached to them or maybe you get special access to the newest update um like with nfts maybe you get special access to like in-person events for that community and so really um you can contribute to them you can really become an owner in a way that you don't have if you just go and buy you know apple stock or facebook stock which i don't think we want anymore right now right but you know all these other stocks they just like give you rights to the value gain and crypto they give you rights to actually being an owner in the future of that platform and so to summarize it really quickly this ownership economy why do we care web 2.0 platforms and companies extracted value from users and communities and web 3.0 blockchains and tokens empower and enable users and communities with value it's really about value creation not value extraction and so really just to drive this point home blockchains and tokens empower and enable individuals in communities of protocols and platforms instead of extracting value from them and really when we think about like what can be done in a world that really thinks about creating value for people like you know in the digital world that has a lot of possibilities and that can also really you know spill over to the physical world as well to the real world problems we have as well if we live in a world where a lot of value is created for people okay so now we're gonna get a little more technical like how does this all work you said there was an internet infrastructure but prove it to me um i have women who join shifa from banks and they're like my peers you know at goldman or whatever just think it's an actual just digital currency that nothing is behind it um and so they don't want to give it any time of day also they've just really dug their heels in too far so they're not gonna come now okay so the problems with centralized technology um so today data is stored in centralized web servers which leads to the zoolander problem who's here seen zoolander okay thank you i thought this was one of my funnier moments in my crypto career like 2018 what i thought of this right the files are in the one computer and then they drop the computer on the ground and they like smash it right so that is a perfect example of what's wrong with centralized web technology it's in one computer and many things can happen to that computer it can go offline it's opaque um there's outages right so facebook is back online after a massive outage that also took down instagram whatsapp messenger and oculus turkey's ban on wikipedia's unconstitutional court says so if it's in the computer governments can also ban who can see what and what information is accessible to people and this was a really fun headline i found this summer hackers may have had access to billions of texts for years global telecom company admits and so like hopefully they never send all those texts you've ever said to anybody about that person right my friend was like that's my nightmare is like all the texts that somebody said about you is sent to you and all the texts you've ever said about anybody else is sent to them and now hackers have all this but it's just this idea that you know negative externally negative externalities happen on centralized web servers they're honey pots people want that information and they know it's vulnerable and they can attack it amongst other weaknesses and right so decentralized blockchain technology as a solution or is a solution on a blockchain every transaction is replicated and stored in every single computer called a node across the network and so even if one node goes offline the data exists across every other node so it is never lost so even if one node on a blockchain network goes down remember it's peer-to-peer all those nodes are just pinging to find the next one and just like the user is like hey everything is fine um this is not true on all blockchain networks that are a little bit more centralized but on truly decentralized technology like ethereum does not go down right bitcoin does not go down um so the data is done redundant and always retrievable right so the data isn't lost even if a node goes offline as well so the network runs the data is never lost it's forever and ever it's immutable remember that the data is going to be there forever to quote sandlot and so how transactions are validated today um in the ethereum and the bitcoin world one way is proof of work so this is how everybody on the network agrees to what the state of the transactions are and adds those to the blockchain computers are miners so miners are also nodes on ethereum process transactions and secure the network validating transactions with mining is called proof-of-work consensus so they're using proof-of-work to determine this is the latest and greatest state of the blockchain and we're all agreeing to it all of those nodes miners compete to solve a complex mathematical puzzle and whoever solves that puzzle first adds the next block to the blockchain so these miners download software to complete this puzzle and they're just like brute forcing their way through this puzzle because they want to be the one that adds the next block to the blockchain and how they do this the economics that economic unit use to secure and verify transactions is electricity and computing power so they're paying for electricity and computing power and hardware and submitting it to the network playing this mathematical puzzle to add blocks to the blockchain and why like why would they do this why did people just start like turning up their graphics you know compute like computing chips and their homes and like you know um doing this ethereum thing back in like 2013 2014 2015 well it's because they receive financial rewards for their work so they're submitting a financial cost but they're being rewarded when what they believe is like a greater financial upside right so they're getting paid to secure and verify the transactions from the code in the network the ethereum code automatically does this sometimes i click in the wrong place okay i added some extra pizzazz to that slide right so this is this is the thing though all blockchain networks have financial incentives um baked in to run at baked in so this whole internet technology is based on financial incentives i want to make that very clear we are working with money and this idea of everything is a financial asset um even if the use cases are a little bit more less detached from money like more about doing wonderful things we really shouldn't remember that this is all to do with money at the end of the day this is how it inspired people to run these networks they were paid to do so so people earn money for securing the network and processing transactions right so people earn eth for processing transactions on ethereum people earn btc for processing transactions on bitcoin and these rewards from the blockchain network are greater than the cost for running the network right so when this code was architected it was known that if we can convince people to run the network we will pay them and that payment will be greater than the cost for running it especially with these assets that increase in price right so miner submits and uses computing power to mine transactions as the transactions on the blockchain and receives money right so you can think of this like we can pretend it's a little minor running on the computer but really it's running uh data centers but you know they're excited for winning that block right so as i mentioned financial incentives allowed bitcoin and ethereum to be permissionless globally distributed networks that people wanted to join i'm not sure why the text on this slide is gray but these protocols distributing financial rewards is like a company distributing shares but instead of an organization distributing shares the code the code that was architected and released day one with the genesis block is what is distributing this money to the miners so everything here remember is architected by code not by organizations and it all runs on code and people running the network and earning crypto also makes them part owners driving home that ownership economy part again so once you started submitting you know electricity and power and hardware earning this eth you obviously wanted this network to grow you wanted the ethereum value to go up you are now owners in this and you wanted more things to be running on it building applications and inspiring more people to do so because you are now an owner in this network doo-doo added more fun pizzazz okay so really quickly we'll get into like what the life cycle of transaction looks like um some some people may be unfamiliar of how this actually all works really quickly sending an ethereum transaction both parties need wallets so here i have christina and nicole christina is in green she has her ethereum wallet you can see it's connected to the ethereum network um nicole has her wallet in red and it's also connected to the ethereum network and wallets are what really allows us to interact with the blockchain you need a wallet to do anything on a blockchain whether it's sending money whether it's minting an nft whether it's voting in governance etc except for off chain solutions i should say but christina sends eth from her wallet to nicole's wallet over the ethereum network once again just driving this point home that everything that is done on ethereum is over the ethereum network it's not done through any traditional system and so life cycle of a blockchain transaction we can think about buying swapping and selling we can think about defy activities lending and borrowing are buying an nft minting nfts transaction is requested via a wallet it's sent to the blockchain miners are looking for transactions they're looking for ones with high fees they like fees they're paid in fees so they're going to look for fees that are higher because they can potentially earn more money they put the transactions in a block the block is added to the blockchain and that block of transactions is then sent to all those nodes right it's verified it's broadcasted to all these nodes so that's kind of how it works it goes from your wallet to a block in the blockchain and i just wanted to show you what etherscan looks like so there's many blockchain dashboards depending on the blockchain network and on the right you can see like the miners like who won the last block and validated it and on the left you can see different transactions right we can't really see we don't know who these transactions are we don't know who these people are but we can see that if we want to we can see all the data on the network right it's transparent and just something i thought was really cool um you know ethereum settles 6.

2 trillion in transactions in the last 12 months and that was as of october 2021. so like i said we've seen explosive growth in this category called magical internet money people say that ethereum is going to be the global financial settlement layer for transactions and really i think this type of graph shows that is in fact what is happening so we're gonna i'm gonna leave you with some challenges and solutions and maybe some of you will be working on these challenges uh this week or you know thinking about how to build your applications on some of these solutions so challenges with blockchain technology proof of work blockchains have high security and decentralization right ethereum doesn't get hacked like the ethereum mainnet does not get hacked just because there's a dow hack does not actually mean the ethereum layer one may not get hacked it does not and it's highly decentralized so it does not go offline but it's slow expensive to use and do not scale i mean twitter just pops off when ethereum's expensive and it's really something difficult for me is i'm on boarding brand new people into the space and i'm teaching them how to do these things and then it's like oh right i want to make this accessible for you but it's still 200. to mention nft and that's no longer accessible right and so it's a really it can feel difficult to be promoting something like this or wanting more people to join in when it's still inaccessible because of its limitations technical infrastructure cannot keep up with the demand from applications and number of users proof of work slow transaction speed ethereum is about 20 transactions per second bitcoin is seven transactions per second visa process is 2 400 maybe more transactions per second so as you can see we have also a long way to go even if we're settling trillions of dollars in value we're still doing it very slowly and that's not great right like i said ethereum may never have an outage or go offline and be highly secure but when network activity is high the network becomes extremely congested leads to expensive transactions fees or even worse failed transactions that nftu really wanted you wanted that and now you don't have it there's also a lot of environmental concerns right like i said these nodes like the cloud is actually a great marketing technique you think you're accessing things to the cloud the cloud is not a fluffy white internet infrastructure it's data centers that are hardware and they're metal and they're in the ground um so that can be a big problem um some of the arguments for and not for you just you know people will say well there's like using hydro it's not all coal mining et cetera it'll push us to use new energy technologies um but it's still a concern and really the entire digital world running on clouds is in a concern so uh one solution which i'm just gonna go over very high level because we don't have that much time today is proof of stake right so proof of stake blockchains use validators with staked collateral rather than computing power to secure the network and process new transactions so proof of work people the cost the economic unit is computing power electricity hardware that's what they submit to the network to secure and verify transactions proof of stake we have validators with staked collateral and so we have money so now money is being used to secure the network ethereum is transitioning to proof-of-stake validation it's coming and q2 2022 do not hold me to that as if any of you are following the progress it keeps getting delayed which is fine but just don't hold this presentation to that it's out of my control other blockchain networks already use proof of stake so a lot of other layer ones out there are using it um it's definitely proven that it's a very good way to secure and verify transactions i mean so you know proof-of-stake could process up to a hundred thousand transactions per second which we're all really excited about and so another um solution is scaling with layer twos and don't mind my beautiful art here um ethereum layer two solutions increase transaction speed and reduce fees and so a layer two is a different network running on top of the layer one ethereum network they call ethereum mainnet layer one all these other layer twos or other networks running on top of it and so what layer twos do is they move transactions off ethereum's main chain layer one but they still anchor to ethereum's main chain so it's a layered solution they move transactions off you can do a bunch of different transactions on these layer twos and the layer two takes a snapshot and says hey ethereum layer one here's what's been going on in layer two so they still use layer one for security um and they use layer twos for scaling and so scaling solutions once again this is just a pretty infographic i'm not a graphic artist um but we have some other ones too we have side chains we have layer twos we have roll-ups um and then we have other protocols as well right so as you may know now there's evm is like the big deal so i really think what shows ethereum's power is the fact that a lot of these networks are evm compatible and so if we think about all roads lead to evm those network effects are huge and so we have the main chain or the root the layer one assets can move from layer ones to layer twos from layer ones to side chains like polygon or to other chains that are evm compatible and ethereum layer one provides security and decentralization anchoring these solutions and so we're going to do a summary and then i'll open it up for questions and answers and hopefully that you learned some about you learned something about blockchain today that you didn't know before or you just you know kept it fresh in your mind if you're experienced so right blockchain is an evolution of the internet it's web 3.0 that's not just marketing blockchain is an evolution of financial ledgers used for recording transactions and so blockchain we can bring those together and say it's a new internet infrastructure share underpinned by a shared distributed ledger that records peer-to-peer transactions oh i added all the pizzazz on these slides okay so much pizzazz today i heard there wasn't a lot of pizzazz before so i'm here to bring the pizzazz and so why do we care right like why are we all here right now we know that we live in an imperfect world where wealth power and data is centralized and a small group of people and platforms which leads to inequality inefficiency and abuse bitcoin was the first successful implementation of peer-to-peer money over a blockchain network and ethereum is a blockchain that many use cases can be built on top of not just digital money and so the ethereum blockchain properties that allow us to redesign these better systems they're decentralized they're peer-to-peer they're permissionless they're public anybody can access them no one can keep away they're transparent they're censorship resistant and they have smart contracts aka they have programmable code that can just do more than send receive keep account and really we're moving control of your data your money your all of your assets from entities and platforms to you right this is what it's all about it's putting you in control you are your bank you are your keeper of your art you have control of where it goes how it flows who it's sold to we're moving all these things from centralized entities okay pizzazz okay right cryptocurrencies are unique digital currencies which are native to their own standalone blockchain they use blockchains and cryptography to facilitate secure and verify peer-to-peer transactions and altcoins are crypto alternative to bitcoin altcoin is alternative plus coin bitcoin always gets to be the og everyone else gets to be an altcoin and tokens i mean it's inspired all of us to be here today without it we wouldn't be here not i'm i love ethereum i'm an ethereum person i'm just saying you got to know where you came from to know where you're going to go tokens are created by protocols and platforms that people build on top of blockchains like ethereum right so the ave token doesn't have its own blockchain ave is built on ethereum token standards and runs on um ethereum and tokens are a broader broader unit unit of value or value use cases than digital money it can represent other types of digital assets or physical assets it can represent ownership in something it can provide many utilities and services that we probably haven't even all explored and maybe some of you will explore this week okay welcome to the ownership economy blockchains plus cryptocurrencies our tokens enable the ownership economy users own and manage their personal data and digital assets that's identity financial currencies and products art collectibles gaming items domains etc i know i'm really excited about gaming and metaverses users become owners of a platform through acquiring tokens like company shares which can be done many ways not just through purchasing blockchains by earning as well blockchains and tokens empower and enable individuals in communities of protocols and platforms instead of extracting from them web 2.0 is value extraction web 3.

0 is value creation getting technical let's get technical technical i also enjoyed that as well today data is stored in centralized web servers which leads to the zoolander problem on a blockchain every executed transaction is replicated and stored in every single computer called the node across the network even if one node goes offline the data exists across every other node so it is never lost blockchains are permissionless public networks meaning anyone can join and that's not only in the users of the applications that's in the people who are also running the network if you wanted to run ethereum you would have to go out you know find the electricity hardware computing power etc but no one could stop you from doing that and no one can stop you from staking your collateral um to validate ethereum 2.0 i think they retired that term ethereum and a proof-of-stake world right so that's the cool thing not only can users access all these applications but anybody can also run the network computers or miners on ethereum process transactions and secure the network and validating transactions with mining is called proof of work consensus proof of pizzazz is my presentation okay okay last part here miners compete to solve complex mathematical puzzle and whoever sells it first gets the right to add the next block to the blockchain highly competitive all blockchains have financial incentives baked in people earn money for securing the network and processing transactions these financial incentives in the protocol allowed bitcoin and ethereum to be permissionless globally distributed networks that people wanted to join right from the minute the first genesis block was created there was money to be had there was money to be made and people who were following the money knew to do that life cycle of a transaction whatever activity you do through your wallet goes and is submitted to the blockchain miners looking for these transactions with great fees because that's how they're paid they put it in a block blocks threaded to the blockchain and that transaction is forever stored in the network it's immutable and it cannot be changed challenges right proof of work is high security and decentralization but they are slow expensive to use and do not scale ethereum may never go offline or have an outage and be highly secure but when network activity is high the network becomes extremely congested and we're all sad this leads to expensive fees and or failed transactions which you still pay for it really hurts so these networks are implementing new validation mechanisms to solve for expensive gas fees scaling speed and other concerns proof of stake blockchains use validators with staked collateral and collateral's money staked money rather than computing power to secure the network and process new transactions ethereum layer 2 solutions increase transaction speed and reduce fees a layer two is a different network running on top of ethereum layer one network layer one main main ethereum main chain layer two chains and yeah that's it so i'm think so once thank you so much once again my name is maggie love i run chifa i'm also co-founded a company called web3 cloud that's on the infrastructure side i open it up now for any questions however that's working you can ask me pretty much about anything yes so they can't publish a block at the same time or like if there was some like issue to happen where there was like two different states the whole network looks to find the longer chain and that continues to be the chain that persists so like if there was for some reason an issue um or the whole point of cryptography is it also prevents double spending money so if a transaction if somebody was trying to send like 20 of a transaction to person a and person b at the same time to spoof the network um the way the code works in cryptography that can't happen so that doesn't this double spending or transactions happening at the same time doesn't really happen if there was some sort of like infera outage that may cause issues in the state of the network but once it goes online again they're always looking for who is the longest chain where are all the transactions and we'll follow that state yes would you like to use the mic here we go well thank you very much for your talk i really like it um what i would like to know it's what do you think or how will the interaction between centralization and decentralization at web3 because i mean on one hand i mean i understand that that the blockchain or crypto cryptocurrencies have borne because of of this sense of of people getting tired of financial entities etc so i mean i understand the the usage of of blockchain technology but i i still seeing and and i i will think in the future like the centralization and centralization will have to interact and i mean one clear example is openc which is like the biggest marketplace in in the world but at the end it's a centralized marketplace right i mean they use ethereum but uh i mean uh i don't know and and then like some of the of the facts that you were using in your presentation was uh like the the the how fast for example visa can process like interactions and it's like way bigger and way faster than than than bitcoin or ethereum so so what are your thoughts about that oh my thoughts about that um yeah so i think that you know like i said so really this year like i was joking magical internet money uh went mainstream right so i think before i nfts were definitely because i'm thinking about when like the she fires were like i need to know about nfts which was like spring of 2021. um so you know openc had been building for a long time this marketplace um you know i think if you listen to their story they had like you know like maybe 10 employees and then just like pfps right profile pictures and nfts collectibles like really popped off and that was like the use case for their platform um and so i think there are points of centralization in some of these technologies and it was probably on the path to decentralization and then like nfts exploded right so it's kind of like they're trying to keep up with the fact that there's so much demand for this new use case probably before they were ready to be fully decentralized and so i think in a perfect world we'd want everything to be decentralized we want our even mainnets to go to be you know decentralized like when we hear of other blockchains going offline i'm just kind of like i feel like we've gotten very far away from where we started um but i think that hopefully they're working towards a path of decentralization they've hired a lot um and i think it was just kind of a function of where they were at with their product at the time that like nfts exploded and no did anybody predict nfts exploding the way they did this year raise your hand i couldn't have predicted it but now it's here so i think that's kind of where it comes in but there are marketplaces working on and totally decentralized on the blockchain it's kind of hard people are getting stuck now and when you have snoop dogg buying nfts snoop dogg probably doesn't care that much about decentralization so it's a little tough it's a tough problem to solve question here to the right yes thank you this is really helpful i work in cyber security some adjacent to blockchain um are there infinite nodes on the blockchain how does that work yeah that's a great question so there are not infinite nodes on the blockchain um so like ethereum now i think has like 3000 globally distributed notes with the aside with proof of stake i don't know how many like staked validators are if anybody does know um but you know proof of work had way more notes i had 11 000 nodes and now like proof of stake is being announced right ethereum is transitioning we have miners join mining pools this is getting a little technical but as the hash rate of the ethereum network goes up that means like more computing power is being submitted and that also makes it harder to validate blocks so now the only people that can really participate have a lot of computing power um so that will kind of lead to centralization in the nodes because now it's only like large infrastructure providers that have the ability to purchase a lot of hardware negotiate contracts for you know energy computing power etc um when ethereum first started it was like people switching their gaming computers that they built like turning on ethereum when they weren't gaming right and their apartments would get really hot so that was like way more accessible so you'd have way more nodes um and now there's like less nodes in in general even running a node that's not a miner you need like an amazon grade server to do it so you'll definitely see less nodes but um that's something you can even keep track of if you're evaluating blockchain protocols and side chains and bridge contracts like no do your homework on like how many validators there are because the more there are it'll be more decentralized which is what we want it's just not always like the most feasible depending on the different economics of the network and you had mentioned miners miners or computers right so when you had talked about brute forcing in my world that's really bad why is it good in this situation um yeah so a minor is just one kind of node so there's like four or five different node types there's like a light node which just stores like some of the stuff happening on the network for a period of time there's archival nodes which have every single transaction since the beginning of time there's nodes that actually you know communicate to the other nodes that like this transaction has been processed and miners are just really playing that puzzle um i'm not i don't know enough about cyborg's security to know why that may be good or bad but it's this idea for this specific activity um that it's really you know in order to win the they don't want just anybody adding the transactions to the blockchain right so you'd have to like be the one running this really difficult competing in this really difficult game i actually don't have a perfect answer on that because i don't know cyber security well enough hello hey how you doing good thank you so much hey how are you great good day to be alive so i had a question on with us moving from proof of work to proof of stake um what's going to be our biggest vulnerability because from my understanding of proof of work a 51 attack is the worst case scenario on the network so moving to proof of stake just from my limited understanding of it it kind of makes me feel that maybe wells in the space will have more control over the network but what's your opinion on like what risk do we run transitioning over to proof of stake yes so um there's i and somebody can correct me if i'm wrong um but you know 51 of tack is just like you know a group of entities having 51 percent of control over the power of the network and then they can dictate the state of the network because they have more than more than 50 right um and so we don't like that in blockchains and so proof of work is highly decentralized it would be really hard for somebody to have so much hardware so much access to energy et cetera um and so proof of stake a lot of people are staking collateral i think for eth it's 32 eth right so um still a pretty high number especially if you're just getting to ethereum now like people who got to ethereum early probably like 32 weeks whatever but people just joining us now that'd be a big number to work up to um and so i think you know there's a couple concerns with the transition one is just like making sure that state that's on proof of work actually carries over to proof of stake right that's like a really big transition um you know and one is kind of like the security of the network when all the miners do go offline right if that state's not fully transitioned and all these you know entities that were securing the network over the transition there can be some hiccups in that um i think another concern with proof-of-stake is the number of validators right so you still want to have a very like highly decentralized validators um some validation networks have like a certain number like maybe they're like i have 50 or 100 or 400 or you know 10. and so like anytime there's less validators there's just more risk for um you know activities to happen like certain attacks we're faking that network or trying to take over the network with you know provo stake at all we believe it'll be like the 51 attack is the money right having more than 51 percent of the collateral um but don't quote me on that um so yeah i think those are some of the the main concerns oh question in the back there thank you sir how you doing i'm good thank you so much this is my partner right here amazing so the question we have is that um we in our business we are looking for um the ability to tap into um distributed mostly distributed ownership that's our thing is taking our company and what we do and incorporating distributed ownership into that and so that's why we're here is um researching studying dows and to see what can be done and what they do and what cool things you know can come from that but what i'm wondering is is are we are we kind of barking up the wrong tree with using blockchain dowels versus just some other kind of uh uh centralized solution for that i'll just add to that that we are we are like sold into the vision of blockchain decentralization um all of that but as of for user experience and things of that nature are we at the right time to be looking at this or are we still kind of in the centralized zone that's oh that is a great question um you are at the right time you want to be here at the beginning what's really cool about blockchain networks is um they're emergent ecosystems right so all of us are here like we all decided we wanted to participate in this week experiment build things learn a lot right so they're not top-down ecosystems where somebody's saying like this is how it works by the nature of the financial incentives and the programmability and this idea of distributed ownership it allows people with great ideas to emerge and try these things and so that's why you'll see many kinds of dows many types of experiments and i can't think of another ecosystem where there's this much high experimentation and it's so easy to do so with that experimentation comes like a lot of hard lessons as well right we are brought into the theory in the idea of these future states where we can really coordinate humans at scale i think coordinating humans sounds like the most difficult job in the world you know no matter what you do like anybody can wake up on the wrong side of the bed in your dow like groups of people can we're seeing all these games now and like buying votes and doing stuff like that um so while it's a very wonderful ideal and state i think we'll have a long road to get there because we have to incorporate human elements into this early crypto was like we're gonna get rid of all human decision making and totally automate it by code and like the code and the incentives are gonna be so good that humans will have to choose this way or to leave they have to like rage quit or something i think now we're seeing a much more like humanistic approach to dao's like how do organizations actually work like we can't just give the community the populace all these tokens maybe it would be nice to have experts that have pods right or structures and organizations that sort of work that are sort of flat um and so i think you're at the right time because by being able to see all these different structures and infrastructure incentives and games and how we vote and how we think about it and watching what the government's going to do about security tokens like you definitely want to be in on the beginning and be very aware there's a lot of experimentation and we don't know um but yeah organizations have been running the way they are for years somewhat effectively um because like those are the best structures to date right so to say that this whole new structure um is going to be the way to do it just because it's on a blockchain and it's decentralized um i think you know is a bit ideal i really want to see a lot more organized people that like go to school for organizational design and theory and systems thinking like brought into this space and work hand-in-hand with all of us web3 believers and engineers and business people to like really understand like how does information flow how do these things impacted what are all these structures um but i think you should definitely be experimenting in it um everyone that i think sort of wins in blockchain kind of experiments early so you're here at the right time and by when i just mean like it it it pays off to be early yeah no problem oh graveyard hi thank you great talk that was really helpful i'm very new to this so i thought that was actually a really good introduction to a lot of this stuff that i'm still just trying to to think through and understand um one thing i think this kind of transitions well from that last question actually i'm sort of been thinking about um when it comes to different types of blockchain see like you know ethereum and various other altcoins let's say we're talking about this layer two that's being built on top of them do you think that there is eventually going to be room to just have continuing growth in like specific i mean back end maybe coins or do you think that you know at some point you hit a limit and everybody sort of i mean you think back to like web 2.0 and now we have platforms right at one point we just had like a million different websites with like forums and you just had your little communities there and now it's just like facebook twitter that's all you really have so i'm sort of wondering where you think we would end up in terms of having these because in a sense the blockchain itself seems to me like a platform right and you do have people within these platforms who are maybe going to be a little bit more in control of them than other people who participate um sorry i'm sort of just thinking through yeah those are good thoughts those thoughts are all spot-on yeah so i don't know i i guess this is a very general question but i'm just not really sure where we go from here just to go forward with all these things in mind and trying to solve the the fundamental problems that i think the technology is trying to solve you know yeah no that i mean i i totally get it so if you're new to this right i hope this like presentation inspired some curiosity if you have questions on like where to go next or might be some other good resources i'm here all week if you find me definitely ask me um but yeah i think that that's a very natural question to have after seeing this because not only do we have ethereum and layer twos and side chains and uh roll ups and zk roll ups and you know all of these um other ways to build applications and have transactions running on them but we have avalanche and we have near and we have solana and we have um al goran and we have like all these other layer ones as well um so it's just like this world like i said it's a very emerging ecosystem anybody can kind of if they have the right resources and ideas and incentives can spin up these other ways to build things you know i think that in ethereum it's really not seen as like these layer twos or these other side chains that may be better for like bespoke applications are really competing against each other um really what everyone wants to do is just like keep transactions off the off the ethereum main net and allow that to run really well and do what it does best which is providing security and decentralization to those networks um i think it's hard to predict like what necessarily will be around in a couple years i think it was like easier back in the day because there was like only ethereum so i mean like i had really believed in it and saw the applications being built on top of it so i think it can be hard to be like now i'm going to become an expert in like this ecosystem and this ecosystem and look at all of these things if that's not like your day-to-day job right it can be hard to tell i do think some applications and scaling solutions and way we do validations and proofs will prove to be better for certain types of applications um and so maybe like you'll see a lot of gaming on one type of you know sidechain or nfts on another layer two and whatnot um but but it's hard to tell i think you'll see a lot of the teams here this week you can ask them certain questions about what their ecosystems look like um they're all here but you know i don't think it's like a winner takes all anymore i think it's like figuring out what makes sense for your application your use case um and where you know you think what matters like if security really matters maybe it's like and privacy really matters maybe that's like a zk and privacy chain um if transaction speed really matters and low fees really matters maybe that's polygons like main polygon side chain so you'll have to kind of decide what what things matter to you um but i think they're all gonna exist in in tandem like we're gonna be building global infrastructure for the world there's you know billions of people in the world i don't know if that was helpful sorry about that i'm sorry just uh so when it do you think it's possible that all these things can be fairly you know well integrated and interoperable though because i feel like a lot of these chains may not in the end be really able to integrate with other things as well as others like i'm seeing a lot of interest in having like a universal wallet or something like that but i don't know that that's technically possible anyway just like i'm kind of wanted to ask that i definitely think there will be interoperable interoperability a lot of ecosystems are working on that and not to get too confusing but you technically could have one wallet that has multiple coins in it right for different networks you just have to be really careful that you only sent those coins to that address for that type of network so like you can use like a trust wallet and access you know it's more of like an exchange but you can access all the coins you want for all the different networks like ethereum metamask only holds ethereum tokens right um but i think yeah you you can kind of see that today a little bit and like just like kind of the exchange world if you want to get you know tokens from different networks um and i think there are definitely a lot of teams out there working on interoperability and having evm chains kind of makes everything able to hook back to ethereum so in a way that's interoperable and the way that you can like move funds from one to the other via these bridge contracts awesome i think we could stay here all day maggie one more question maybe this is fun um thank you so much for for that talk it was really good and actually um i run a woman's group in the uk i mean i think it would be good for you to come talk to them absolutely yeah absolutely um my question is actually about crime as we become more decentralized i mean someone i'm sure some people here have been flooded once you know when you're buying an nft um how actually could we maybe reduce crime as we become decentralized yes um yeah phishing attacks like happen to me like in the physical mail in my email and my discord dms and my instagram dms now that i have shifi.

crypto like every twitter like everywhere somebody's trying to like hack me um so i think that's going to be a tough problem to solve and i like highly recommend for your groups um you know and if and if you all are getting into this if there's some stuff on like best practices hygiene wallet hygiene crypto security i might have a presentation on wallets and how you would do that if you have more questions we can talk about it but you really gotta we really have to just be super careful um navigators of the internet right i don't think we used to think about it as much and i think we used to only think people that got hacked you know they always are like grandma opened a link and an email and like you know porn downloaded on her computer and now she like can't use it and i think that's kind of what we think like like fishing is but like i don't um like i got a notification from coinbase support like a couple days ago in my work email um in my web3 cloud email that like my ticket had been answered i didn't have a ticket and it came from like a number that like a phone number was attached to it that wasn't mine so if you're in the space if you're planning on you know being engaged being on twitter with somebody in crypto definitely just spidey senses on all the time um an old statement from bitcoin was don't trust verify um never click on the links if it's for a website that you've maybe used just go in and type in the link yourself um make your discords tell your communities to make it so they don't get private dms from anybody or even people from servers it's like so easy to add friends on discord you don't need to be open to all these people um yeah be super careful just like even when people send like um for shify somebody wanted to gift us nfts the pool sweet team and i said this sounds great but will you get on the phone with me and let's talk about it if anybody's offering me anything especially for free i always get on the phone with them um it's a really tough problem to solve be wary of links be careful what you connect your metamask to be careful what you sign like if you you'll always sign a transaction read what the data says and this is like a whole other talk but i think that hopefully wallets get better at detecting these things and once again i think there's another negative consequence of us exploding so quickly this year and so you know everybody you know would want wants to also get their hands on money but like not in the way of like you know earning it or maybe they earned it if they use social engineering to hack but be really careful there's this whole thing that somebody was running a discord and somebody came in and offered to help and like almost hacked them as well that sounds like a very stressful world but um you know think about especially those of you that are community managers how you run your discords how you educate your communities um you know we'd all love discords to be public and open but maybe that's not the best all the time um ways to verify ways to make it so there's token gated communities like there's a lot of things out there but um highly suggest crypto hygiene is incredibly important and when i joined in 2017 i did not ask enough about it and like i definitely have spent a lot more time getting myself out of some unhygienic practices um than like i would have liked to so ask a lot of questions think about your hygiene good password management 2fa on everything be careful out there yes okay you are next uh it's okay i can i can repeat your question yeah so her question was more about like education how we reach out to um more groups specifically more women um and like marginalized communities who may not be the first ones to come into this ecosystem that's basically how it started i was sitting in the consensus office in 2019 a bunch of my male peers were using compound and at that time interest rates were like 11 apy i know they're not as high as that today but i was like oh shoot like my day job is like infrastructure layer ones like i'm not paying attention to d5 but like i need to pay attention to d5 if like i'm going to have like a place in like a leadership position and like you know a stake in this world from like many perspectives um and so i was on a run i thought the name shifa and i was like this seems too good to be true like i have to do it and yeah i think you know part of it is is just like you know um there's at this point like when i first started chi fi the growth was like super organic there's a lot of other groups out there today there's surge women um there is um web3 baddies there is um you know boys club crypto and they all kind of take different approaches to onboarding women in marginalized communities in the space um but you know i think it's just making sure that people know who look like you like you belong here um i can learn it you can learn it too that's like a big thing of mine like i didn't join ethereum as like a super technical person i would like read the white paper every night when i first joined consensus because i just really wanted to make sure i knew and i think it's let people know it's a time thing the more they see these things um and then yeah they're like so their last cohort i had to cut it off after eight days because 360 women applied and i can only take 200 because that's how much i can teach plus we have like office hours and stuff with other people but i think we're kind of coming to a point where it's not so much like a pipeline problem right there's like a lot of demand out there like a lot of people want to learn about it um it's just about having more of these organizations and and whatnot and retreats and and letting people know but um yeah i think it's just about making sure people know that these spaces do exist um and having ways for them to like enter these communities um and and yeah and i think nfts are helping a lot with that with that too i know that's like the best way to describe it like i don't have a marketing budget i didn't do like a full marketing campaign i was just kind of like i'm going to create these slides and teach defy and nfts and see who wants to come along for the ride um and now i think with my bff as well we're seeing like a bigger a bigger push but just like having those spaces where people feel like oh i feel more comfortable because i look like you or i think you know you know about these things in this way and just making sure ask all the questions it's okay to ask questions we're lifelong learners if we're not all learning to 120 i'm gonna be sad i believe in learning new things all the time so just these things that i think like in society it's like you went to college for this or you didn't go to college for this some of you here or you like we're really good at this so you're not good at this and blah blah blah and i just think that's like a fallacy so i really try to make sure everybody that i'm speaking to knows we can learn anything we want to maybe i won't get a phd in like astrophysics but like you know this stuff can be learned and yeah just keep talking about it and make it you know table sticks conversation and i'm getting cut off so thank you so much follow me on twitter if you want to maggie love underscore my last name is actually love that's not my blockchain stage name um you can follow shifay on twitter she underscore underscore phi or chief on instagram has lots of fun pictures and stuff tell everybody i break down things i make them accessible i literally go to bed thinking like how do i make this concept more accessible so thank you for your time and your undivided attention and all of your great questions and you can find me throughout the week i don't i won't be wearing she-fi things probably but i have this big curly hair so hopefully i'm easy to find