IMPCT Institute · Library
Readings.
Every reading recommendation from the course, with my commentary on each. 138 entries spanning the 30 days. Some are short articles. Some are books. Some are dashboards or tools. Each one earned its place by being useful.
Click any entry to see the full commentary plus a link to the original source. You can also browse readings by the day they were introduced.
Module 1 — Why does crypto exist?
5 readingsBitcoin: A Peer-to-Peer Electronic Cash System · Satoshi Nakamoto (2008)
The original whitepaper. Nine pages. The seed of everything.
The Crypto Anarchist Manifesto
The philosophical precursors. Both short. Both ahead of their time by decades.
The Crypto Story · Matt Levine
40,000 words. The best long-read on what crypto is and what has been built on it.
The Sovereign Individual · James Dale Davidson and William Rees-Mogg (1997)
A book recommendation. Three decades old. Predicted most of what is happening right now.
Why was Bitcoin created? · The Block (2024)
A condensed origin recap with more on the cypherpunk movement that preceded Satoshi.
Module 2 — What is a blockchain, really?
4 readingsA brief history of Bitcoin · The Block
A timeline of how the first blockchain went from nine-page whitepaper to global asset.
Bitcoin and the Byzantine Generals
An accessible bridge between the 1982 paper and what Bitcoin actually did about it.
The Byzantine Generals Problem · Lamport (1982)
The original computer science paper that defined the problem Bitcoin would later solve.
What are block explorers? · The Block
The window into the chain. If you want to actually look at a blockchain, this is your tool.
Bitcoin Is Hope · Lyn Alden
The single best macro argument for Bitcoin from a non-evangelist.
How is Bitcoin scarce? · The Block
A focused look at the 21 million cap and the mechanics that enforce it.
The Bitcoin Standard · Saifedean Ammous
The maximalist case for Bitcoin as a monetary asset.
What is the Bitcoin halving? · The Block
The four-year supply mechanic and what it has historically meant for price.
Why does Bitcoin have value? · The Block
The cleanest one-page overview of the value thesis.
Casa · and *Unchained* (resources for hardware-multisig setup)
Two services that make the institutional-grade setup accessible to individual holders.
What is a crypto hardware wallet and how to safely use one · The Block
The practical primer on hardware wallets.
What is a multisig wallet? · The Block
The pro-grade setup for serious balances.
What is MetaMask? · The Block
The most-used software wallet, the gateway to most of Ethereum.
What is Trust Wallet? · and *What is the Phantom Wallet?* by The Block
Two other major software wallets worth knowing about.
Binance Academy — What is gas?
The simplest explanation of gas as a concept.
EIP-1559: Ethereum's Gas Fee Overhaul
The technical explanation of why Ethereum gas fees behave the way they do post-2021.
Ethereum.org — Transactions
The plain-English deep dive on what a transaction is.
Mempool.space
The Bitcoin mempool, live and visualized.
A brief history of Ethereum · The Block
The full origin story, from the 2013 whitepaper to the present.
The blockchain trilemma · The Block
The structural tradeoff every blockchain has to make.
Vitalik Buterin's blog
The primary source.
What is Ethereum's roadmap? · The Block
Where Ethereum is heading next.
Who is Vitalik Buterin? · The Block
The story of the most influential thinker in crypto.
An exercise: pick a transaction and walk it.
Crypto for Smart People · Bankless
A curated framework similar to what we're doing here, from one of the most respected crypto education projects.
Pick a real crypto news source and read it daily for a week.
Re-read Day 1's "Read deeper" recommendations if you haven't.
What are EVM-compatible blockchains? · The Block
The de facto standard that connects most of the ecosystem.
What is a Layer 2 network for blockchains? · The Block
The clean overview of the L2 category.
What is Berachain? · and *What is Monad?* by The Block
Two of the more interesting new Layer 1 entrants.
What is the Bitcoin Lightning Network and how does it work? · The Block
Bitcoin's answer to scaling.
What is the blockchain trilemma? · The Block
The framework that explains why every chain feels different.
BlackRock BUIDL and Tokenized Treasury Funds
The future of stablecoins is starting to look like tokenized money-market funds.
The different types of stablecoins explained · The Block
The taxonomy in one page.
The UST / Terra Collapse
The single most important case study in stablecoin risk.
What are the advantages and disadvantages of stablecoins? · The Block
A fair-minded look at the category's tradeoffs.
What is USDC and how does it work? · The Block
The institutional-grade fiat-backed stablecoin.
What is USDT and how does it work? · The Block
The largest and most-debated stablecoin.
Module 10 — Exchanges: CEX vs DEX
5 readingsFTX Collapse
The most consequential crypto bankruptcy of the modern era.
Understanding DEXs (Decentralized Exchanges) in Crypto · The Block
The clean overview of the DEX category.
What is Coinbase? · and *What is Binance?* by The Block
The two biggest CEXs.
What is Kraken? · , *What is OKX?*, *What is Bybit?* by The Block
The next tier of major CEXs.
What is Mt. Gox? · The Block
The original cautionary tale.
Anchor / Celsius / Voyager retrospectives
Case studies in unsustainable yield.
Eigenlayer
The newest category of yield-bearing staking products.
How does staking work and where does the yield come from? · The Block
The clearest single piece on staking yield.
How to mine cryptocurrencies · The Block
The practical primer on mining.
Lido · and *Rocket Pool* (the major liquid staking protocols)
Where most ETH stakers actually stake.
What is a consensus mechanism? · The Block
The framework for understanding how different chains secure themselves.
A brief history of NFTs · The Block
The arc from CryptoPunks to Bored Apes to the post-crash reality.
NFT collection size and rarity explained · The Block
The mechanics of how NFT collections are structured.
The CryptoPunk and Bored Ape origin stories
The two NFT collections that defined the category.
What are memecoins? · The Block
The category that drives most of the volatility in crypto.
What is a flagged NFT? · The Block
A practical warning about a real risk.
What is an NFT marketplace? · The Block
Where NFTs are bought and sold.
A real-time scenario watch: pick three on-chain dashboards and watch them for a week.
Pick one chain and one DEX you have not yet used. Open the wallet, connect, make a small test transaction.
*Read on IMPCT** *(coming Phase 2: chain + DEX walkthroughs)
Re-read any Day 1-13 lessons where you felt the reality check was wobbly.
Subscribe to one quality crypto newsletter.
Bankless
The leading DeFi-native media voice.
DeFi 1.0, 2.0, 3.0 · — a brief history of the category
The evolution from the first wave of DeFi protocols to where the category is now.
DeFi Llama
The single most important dashboard in DeFi.
rekt.news
The cautionary tales.
Why is DeFi so important? · The Block
The category overview.
Aave · — the dominant lending protocol
The protocol most other lending protocols compare themselves to.
Compound · — the original DeFi lending protocol
The protocol that defined the category.
Morpho · — the new approach
The peer-to-peer matching layer that sits on top of (and increasingly alongside) Aave and Compound.
The Celsius/BlockFi case studies
The lesson in why "centralized DeFi" was never DeFi.
What are decentralized lending protocols? · The Block
The cleanest single overview of the category.
Curve · and *Jupiter* (the other major AMMs worth knowing)
Stable-asset specialization and Solana-side aggregation.
DEX Volume on DeFi Llama
The live scoreboard of DEX activity.
Impermanent Loss explained
The concept that breaks most new LPs.
Understanding DEXs (Decentralized Exchanges) · The Block
The architectural picture from Day 10, now with the AMM mechanics underneath.
Uniswap V2 Whitepaper
Eight pages. The clearest single explanation of how an AMM works.
Module 19 — Oracles and the data problem
4 readingsChainlink documentation: Data Feeds
The technical detail on how a price feed actually works.
Oracle Hack Roundup
The case studies.
Pyth Network
The new approach to oracles.
RedStone · and *API3* (the other major oracle players)
Different architectures, different tradeoffs.
What is Chainlink? A beginner's guide to LINK · The Block
The standard primer on the dominant oracle network.
Module 21 — Part 3 recap — DeFi, decoded
4 readingsCobie
The sharpest single voice on token markets.
Designing Token Economies
The single most-recommended written work on tokenomics.
The different types of fundraising available for cryptocurrency projects · The Block
The structural framing for how tokens get into circulation.
What are crypto points? · The Block
The 2024-2025 evolution of token distribution.
What are cryptocurrency venture capital funds? · The Block
Who the early investors actually are.
Cobie's market cycle frame
One of the cleanest contemporary frameworks for thinking about cycles.
Lyn Alden
The two best sources on Bitcoin macro and on-chain analytics.
The Kimchi Premium · The Block
A color piece on how crypto prices can diverge across regions.
What is Bitcoin dominance? · The Block
The clearest single piece on the navigation indicator.
Why is Bitcoin so volatile? · The Block
The structural reasons crypto moves the way it does.
Module 24 — Real risk in crypto
3 readingsAre cryptocurrencies securities? A beginner's guide to the Howey Test · The Block
The single most important legal framework to understand.
What is the US Commodity Futures Trading Commission (CFTC)? · The Block
The regulator that oversees the commodity side of crypto.
What is Tornado Cash? · The Block
The case study in regulatory risk for users.
BlackRock BUIDL · and *Ondo USDY* (official documentation)
The two leading tokenized Treasury products.
Larry Fink on tokenization
The position of the world's largest asset manager.
Ondo Finance, Centrifuge, Maple Finance
The leading RWA-native protocols.
What are Strategy's products? From STRK to STRC explained · The Block
The deepest single piece on Strategy and its derivative products.
What is a bitcoin ETF? · and *What is a spot Ethereum ETF?* by The Block
The regulated wrapper around BTC and ETH exposure.
What is a digital asset treasury company (DAT)? · The Block
The corporate-balance-sheet side of the convergence.
Glassnode market insights
The on-chain data that informs serious macro analysis of crypto.
Lyn Alden's blog
The single best macro analyst for crypto-curious readers.
Matt Levine's free column
Two adjacent reads worth integrating.
Messari quarterly reports
The most-respected institutional research in crypto.
What are AI agent tokens? · The Block
The starting point on the most-discussed current narrative.
What is a prediction market? · The Block
An adjacent narrative worth knowing.
What is Coinbase's x402 protocol? · The Block
The infrastructure layer for the AI-agent commerce thesis.
What is decentralized science (DeSci)? · The Block
The smallest but potentially most-mission-aligned narrative.
What is DePIN? · The Block
The most concrete of the current narratives.
What is SocialFi? · The Block
The narrative that has produced more failed experiments than any of the others.
Cobie's Substack
The sharpest single voice when he writes.
Matt Levine's Money Stuff
The single best financial writing anywhere, free, daily.
On-chain dashboards: DeFi Llama, Glassnode, L2Beat, mempool.space
The data sources that ground the narratives.
Stratechery / Money Stuff / Lyn Alden / Messari
The four sources that, together, cover most of what serious participants read.
The Block
The neutral news source we've been using as the spine of this course.
