We write weekly about Web3, what it is, and why it matters.
What are blockchain oracles? 🔮
GM Surgers!
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This week in crypto…
Everything you need to know to stay on top in Web3
🤦♀️ Anti-crypto army
US Senator Elizabeth Warren just announced she’s building an anti-crypto army. This news comes on the heels of the Binance lawsuit and the Wells notice Coinbase got. But, is the government actually trying to kill crypto? Check out this Laura Shin podcast for answers.
👀 OpenSea launches an NFT aggregator
OpenSea recently acquired Gem, an NFT aggregator. Now, they announced OpenSea Pro (essentially Gem V.2). The aggregator will offer “zero fees, the most advanced order types, deepest liquidity, fastest speeds.” Here’s the full TLDR.
🔥 Shapella coming next week
Ethereum has two upgrades scheduled for April 12 - Shanghai and Capella. These upgrades will unlock withdrawing on both execution and consensus layers. What does this mean? If you had staked ETH in anticipation of the Merge, you can now withdraw it.
TLDR: What are blockchain oracles? 🔮
One of the main challenges with blockchains is that a blockchain network is typically a closed system - there’s no native access to information outside of its network.
Still, smart contracts sometimes need real-world data to execute. How is this solved? 🤔
Blockchain oracles.
Oracles are critical in enabling smart contracts to execute based on real-world events.
Oracles also play a key role in DeFi applications, where they enable access to market data for trading and risk management. Oracles can help determine the price of assets, track interest rates, and provide data on the performance of financial instruments.
Are there any downsides to using oracles?
Short answer: yes. One of the main concerns is the reliability and security of the data provided by oracles. Since oracles are centralized points of failure, they are vulnerable to attacks that can manipulate the data they provide. As a result, it is essential to use trusted and verified oracles to ensure the accuracy and security of the data used in smart contracts. ✅
Still, blockchain oracles are an essential tool for bridging the gap between blockchain networks and the outside world.
And while there are challenges associated with using oracles, the benefits they offer in terms of data access and automation are worth the effort to ensure their security and reliability.
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We write weekly about Web3, what it is, and why it matters.
GM Surgers, Surge's Web3 Course is tailored towards people of all levels. Whether you're already working in crypto and want a free, technical overview or you're just getting into the weeds of Web3. Surge Web3 Course Hub We're releasing chapters to subscribers for free on YouTube and this week, we’re looking into nodes. What are nodes and how do they work? Nodes - What allows blockchains to exist? In Web3, a node is a device linked to a cryptocurrency network that may produce, receive, store...
GM Surgers, Learning about the mechanics of what goes underneath the hood of Web3 can be highly technical and complex. It's why we've open sourced a Web3 Course to help you navigate how everything ties together. Subscribe to our Web3 Course here! We're releasing a chapter a week to subscribers for free on YouTube, starting with deep dives from our first chapter. Here’s a TLDR on what you’ll learn in Chapter 1 👇🏼 What is a blockchain and how does it work? A blockchain is a distributed,...
GM Surgers! Let's get right into it. 👇🏼 Special Announcement… 🎉 We're publishing the Surge Web3 Stack course on YouTube! 🎉 It's been nearly one year since we launched our first course "Web3 Stack - Crypto Infrastructure Behind the Scenes". After hearing how much so many of you have benefitted from it, we've decided to open-source the course to honor the nature of our community. We'll be releasing all chapters to subscribers for free on YouTube starting with our first chapter -- subscribe here...