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This Week in Web3 7.25.22

Author

Sarah from Layer3
July 25, 2022

"We believed in everything to the fullest. We had all of our, almost all of our assets in there. And then in the good times we did the best. And then in the bad times we lost the most."

— Kyle Davies, breaking the silence on 3AC for the first time since its collapse

GM. This is Layer3's weekly newsletter, helping you stay updated on all things web3. This week, we're sending out a special edition newsletter for all our e-mail subscribers.

Before diving in, why not try some bounties?

Refer-a-friend, receive-an-NFT 🎨

Share the Layer3 love with a friend or family member, receive our Early Express NFT and win 50 USDC

Here's how:

  1. Refer a friend to Layer3

  2. The new user must link their twitter, discord, and complete at least 1 bounty or contest on Layer3 (we check!)

  3. Submit your friend's wallet address via the Contest here

Become a freelance writer for Layer3, earn 1000 USDC

We're looking for experienced writers who can help us write 4 high-quality blog posts, with a length of approximately 1500-2000 words each. You'll work with a core Layer3 team member to outline, plan, and write contributor-centric web3 content, such as:

  • The meaning of ‘decentralization’ in DAOs

  • Learning DAOs are the new universities

  • Diving into DAOs: Decentralized contribution models in web3

  • DAOs are not anything new, really

We're also open to any creative ideas and suggestions. If you're looking to expand your content skills in web3, this is the perfect opportunity for you.

Your Web3 Briefing 📝

A roundup of the biggest Web3 headlines over the last week

3AC's Zhu Su and Kyle Davies break the silence

The two disgraced founders of Three Arrows Capital spoke out for the first time since 3AC's collapse in an exclusive interview with Bloomberg.

Animoca Brands & others announce the "Open Metaverse Alliance for Web3"

A group of web3 companies, including Animoca Brands, Dapper Labs, and Sandbox, have banded together to ensure an open and borderless metaverse.

What else you should know

Web3 101: Zk-rollups💡

Each week we’ll cover an essential web3 concept in simple terms. This week we’re looking at Zk-rollups ✨

What are zero knowledge rollups?

A zero-knowledge rollup is a Layer 2 blockchain solution that performs computations and storage off-chain while funds are held in a smart contract.

How do zk-rollups work?

While Ethereum mainnet uses on-chain activities to process transactions and validate blocks, Layer2 zk-rollup solutions include off-chain functionalities as well. This is done through the inclusion of Merkle Trees, an important mathematical structure which ensures that no one can fake data in on-chain records of a zk-rollup.

Each zk-rollup consists of two Merkle Trees which are both stored on a smart contract.

How do I experience zk-rollups?

Examples of Ethereum Layer2s that leverage zk-rollups include Starknet (used by dYdX) and zkSync (used by Yearn Finance, FRAX, and Zerion).

Want to get your hands on a Layer3 NFT, mug or even a much coveted hoodie?

PS👇

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