Digital🛢- Will you strike digital oil? — Issue #4 — Oil Strike #1: Task #2

Your First Self-custody Crypto

From what I could tell from who clicked on the download link, at least 8 of you didn’t have Metamask before. Which likely means that if you had crypto it was custodial, meaning that you delegated custody of your account keys to Coinbase, Binance, etc. Before you downloaded Metamask, you “had” crypto but you didn’t really control it. You had it just like you have fiat currency, meaning you see your account balance, but you don’t really control it or know for sure if it’s really there or not behind the online banking site. With Metamask, you can now have direct control of the coins that owned by the account you created.

Polygon

The first smart contract blockchain was Ethereum. For this and other reasons, it’s my favorite. However, transacting on Ethereum only makes sense for high value transactions. Ethereum is also used by other (cheaper) blockchains to settle a synthesis of the transactions that occur on them, thus diluting the cost of transacting on Ethereum among many transactions (more on this in later issues).

MATIC

Matic serves exactly the same purpose on Polygon that Ether does on Ethereum. That is, it serves as the gas that makes the blockchain gears turn. More precisely, blockchains require servers (nodes) to do some work behind the scenes. There are people and costs behind those servers. Every time you make a transaction on the blockchain you are asking servers to record your transaction, and this has a cost. This cost is paid in gas. The Matic you have in your account is how you will pay for gas every time you do one of the tasks I assign.

Separating the Grownups from the Children

Although every task I assign is extremely simple and should only take 1–2 mins, this is where the grownups will be separated from the children. Will you continue along this scavenger hunt, completing this and the next two tasks and compete for the $500? I hope you all do.

Set Metamask to Polygon

The first thing you’ll need to do is change the blockchain you are connected to. Metamask connects to Ethereum by default, so you’ll need to add Polygon to it.

Submit your Joke to the Smart Contract

Now you’re ready to submit a joke to the smart contract. To do so, we’ll be using a tool called Polygonscan. Polygonscan is a website that scans for all smart contracts on Polygon and all interactions of accounts with the blockchain. This means that every time you send funds from your account to another and every time you transact with a smart contract (an app), Polygonscan records it. On their site you can explore every detail of every transaction in the history of the blockchain. To view our smart contract interface on Polygonscan, go here. There, you will see something similar to this:

Some Bonus Content For the Nerd in You

So, what just happened? Your Metamask Wallet contains a key. That key is private to you. It was generated by Metamask and nobody else can ever see it. That key corresponds to an account (or public address) which is kind of like your id or pseudonym for the blockchain.

And… Next Week’s Task

Next week’s task will be even easier. You’ll scan through all the jokes submitted, and vote for your favorite one. You won’t be able to vote for your own joke, and you won’t be able to vote if you didn’t submit a joke. Meaning, you won’t be able to complete the third task if you didn’t complete the second one. This is hardcoded into the contract — and you know what they say — in blockchains, Code is Law. Also, since all the code is immutable, nobody can cheat who wins the funniest joke vote. Not even me. Don’t worry, though — the funniest joke winner doesn’t win the $500. The prize winner will be determined by a raffle that executes within the contract. All of you who submitted a joke, voted, and then entered the raffle, have a chance to win.

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Adam Ξisenman | DigitalOil.nftr

Adam Ξisenman | DigitalOil.nftr

Early. Ethereum dev and founder @nft_registry . Podcast host @0xCryptoLatinos . Business director. Former ios dev & satcom engineer. @GeorgiaTech ee & @mit