Crypto Academy Week 4 Homework Post for Professor [@gbenga] on All About the Ethereum Blockchain || 3rd March 2021 || done by @prudent2

in SteemitCryptoAcademy4 years ago

Hello lovely Friends,

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Wow, I am just joining the community and am a bit sad that I have missed alot in the past weeks. Nevertheless, though it's my first time, am happy that I attended this class.

I have indeed learnt alot from your lecture sir (professor @gbenga), I am indeed happy and I would make sure I never miss any of your class. Let me begin my task for the 4th week.

Introduction

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Vitalik Buterin launched the Ethereum Blockchain on the 30th of July 2015, which was 3 years after the Blockchain project had been on his mind.
Ethereum, no doubt is one of the biggest crypto-currencies in the world today, and the blockchain was mainly an upgrade to the Bitcoin Blockchain with so many features including creating lots of different digital assets on its Blockchain, just as I learnt.

It is now really clear to me that Etherium is not the currency but it's the Blockchain, and the currency is called Ether (ETH).
The Ethereum Blockchain allows it's users to create their own program on the Blockchain which we all know as Dapp (Decentralized Application).

In 2015, the currency (ETH) came I to existence alongside the Etherium Blockchain. And as instructed by my mentor professor @gbenga, The task for week 4 is to "Explain in full a project built on the Ethereum Blockchain,"just as he has taught us. Here is the link if you missed it, 👉 link.

A Project Built on the Ethereum Blockchain ( A Case Study of UNISWAP).

The questions on your mind now should be:

  • What is UNISWAP?

UNISWAP is one of the decentralized exchange project that is built on ethereum blockchain, which means that it never takes control of a user’s funds. So far do good UNISWAP is the most popular decentralized exchange for now. As it utilizes an automated market maker (AMM) system for better trading.

  • In what year was UNISWAP created?
    Hayden Adams created UNISWAP in the year 2018.

  • See how to trade on Uniswap
    Whenever funds are deposited into the pool token, it can be easily exchanged and withdrawn to another Decentralized Application.

Here are the steps to follow in other to make exchange in UNISWAP:

  • Step 1. Goto your browser, I would recommend the "Chrome browser,"" and login to their website [https://app.uniswap.org/].

  • Step 2. Then go to the Uniswap exchange interface.

  • Step 3. After which you connect your wallet by clicking on the encryption "connect to a network", which could be Trust wallet, Coinbase, or any other wallet supported by Ethereum.

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  • Step 4. Then select the token you would like to exchange from.

  • Step 5. Now select the token you would like to exchange to.

  • Step 6. Click on the swap botton.

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  • Step 7. After all click to confirm the transaction.

  • FINALLY
    I am concluding by thanking the entire @SteemitCryptoAcademy especially professor @gbenga, It's my first time participating in your class and I hope to learn and equally do more with time.

Thank You All.....

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Hello, there is more to Uniswap than how to connect to the exchange and swap token. You can do well to talk about the governance of Uniswap, UNI token, Uniswap Pool and so on

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Thanks alot professor @gbenga I really appreciate your lessons and corrections

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