Dear Bankless Readers 🏴

The most wondrous, worrisome, and worthwhile thing about web3 is that there is always something new happening, and what you do with it is up to you. In the words of Dr. Seuss, “You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You're on your own. And you know what you know. And YOU are the one who'll decide where to go...”

With all due respect to Seuss though, you don’t have to be alone in your web3 journey. In this issue of the Recap, we deliver a web3 Wayfinder which you can share with family and friends. Also, enjoy reading about the enduring appeal of Bitcoin Pizza Day — the annual event that brings the web3 community together over a shared love of digital dough.

We also give you the steer on recent developments in crypto wallet transactions and the pitfalls to look out for, and if you’ve been wondering what an ETF is, you’ll love the explainer on BlackRock’s proposed bitcoin ETF.

This recap is a convenient way to access all our recent articles, but if you prefer to read Bankless Publishing content while it’s sizzling hot off the press, follow us on Twitter or come and join us in Discord.

Contributors: Frank America, Kornekt, Trewkat, Puretayo, HiroKennelly

Bankless Publishing is driven by a mission to ennoble its writers and showcase their content to a broad audience of crypto-interested readers. We also work with crypto’s leading protocols to help them get their message out to our audience. Whether you’re a writer or a protocol team, we’re interested in talking with you.

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🏫 Crypto Basics Series

Each week we’re shipping a selection of our previous introductory web3 content on Mirror, enabling users to curate a web3 reference library by minting the articles as NFTs on Optimism.

✍️ Article Summaries

Building the Future Together in Web3 Communities

Author: Boluwatife | Editors: Trewkat and Kornekt | Designer: Tonytad

What is the meaning of community in a web3 world? We’re connected 24/7/365 from different geographical locations, using VPNs, and even pseudonymous identities. Yet, none of these newly emerging characteristics breaks the ability to create communities. In fact, in many ways, it enhances the ability to build collectively and it fast-tracks progress. 

“According to early thinkers on the concept of community, such as Ferdinand Tönnies, Robert Park, and Emile Durkheim, a community is not just a collection of individuals, but a social entity that has its own identity, values, norms, and culture.”

Dig into the nature of web3 communities in this article by Boluwatife.

The UX Risks of Gasless Transactions

Author: d0wnlore | Editor and Designer: Trewkat

Gas isn’t just dangerously expensive at the pump, there are many UX issues in web3 transactions requiring gas that leave the user totally in the dark. We’ve all looked at that batch of gobbley-gook text before we hit “Sign” and thought, “I hope that means it’s doing what I want it to do.” Now, thanks to EIP-2612, there is such a thing as a gasless transaction. But, our UX issues are far from being resolved; in fact, with new EIPs come new risks… 

“As more protocols adopt gasless signatures, it’s crucial that wallet clients display signature requests and the messages they contain in a straightforward, human-readable format. Until this occurs, the user experience will always trail behind the amazing technology users actually have access to.”

Look into the gasless transactions and their risks in this article by d0wnlore.

Your Web3 Wayfinder

Author and Designer: Trewkat | Editor: Hiro Kennelly

Oh my, how far Bankless Publishing has come! We’ve built a verifiable foundation on the knowledge and skills needed to exist in a web3 world. Want to know what web3 is all about, the difference between a CEX and DEX, crypto wallet functionality, and WTF is a DAO? 

“To make your path a little easier, start with the following set of articles from Bankless Publishing. Think of this as your reading list for a web3 essentials course; you can cherry-pick or go from start to finish in the way that suits your available time and energy.”

Take a walk around the halls of Bankless Publishing in this article by Trewkat.

BlackRock Bitcoin ETF a Generational Endorsement

Author: Frank America | Editors: Kornket and Hiro Kennelly | Designer: Tonytad

When the biggest asset manager in the world with over $9 trillion in assets under management applies for a bitcoin ETF with the U.S. SEC, people take notice. Especially when they have a 571 to 1 success record. Then, throw in a splash of Fidelity and a new and improved proposal from Ark Invest, and you got yourself a perfect storm. But what is an ETF, and how could a bitcoin ETF change the price of the underlying asset?

“The genius application of an ETF, beyond being a side-bet of aggregate market behavior, is that it generates a new type of liquidity that allows investors and day traders alike to speculate on mass market movements. Think tech is gonna do well in the next decade? Buy the QQQ ETF and own a fraction of every stock in the NASDAQ. This is obviously a safer bet than buying IBM or COIN, but an investor may not lose or win as much due to its aggregate nature.”

See why ETFs are a wrapper for the future of bitcoin booming in this article by Frank America. 

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