Introduction

Wow, what a week! My second week at Web3Bridge’s Cohort XIII was like jumping into the deep end of a blockchain pool exciting, intense, and full of moments that made me laugh and learn in equal measure. From a hilarious town hall with our Chief Mechanic to unraveling Ethereum’s mysteries with my mentor Iteoluwa, plus earning an hillarious nickname from my classmates, this week was a wild ride. Oh, and let’s not forget the epic times with my Avalanche room crew. Here’s the lowdown on my journey, from grappling with gas fees to geeking out over flash loans.

A Town Hall Pep Talk with Wit and Wisdom

The week started with a bang at our town hall, hosted by none other than Mr. Ayodeji Awosika, Web3Bridge’s Chief Mechanic. Picture this: he’s seated, dropping truth bombs with a smirk, telling us to “quit being mediocre” and become the best versions of ourselves. His mix of sarcasm and wisdom (“This isn’t just about code it’s about building you”) had us in stitches but also fired up. He challenged us to master our time, solve problems like pros, and maybe even change the world. It was the kind of pep talk that sticks with you, pushing me to tackle the week with a bit more grit and a lot more heart. Huge props to him and the Web3Bridge team not just for the inspiration but also for the food that keeps us going. Those meals? Lifesavers!

Ethereum Basics and the Iteoluwa Effect

Under the guidance of our mentor, Iteoluwa, the second week was a deep dive into Ethereum’s core. We covered Accounts and Transactions, learning the difference between Externally Owned Accounts (EOAs) and contract accounts. EOAs are controlled by private keys, while contract accounts run on code. Iteoluwa broke down Transactions with crystal clarity, explaining how they’re signed, sent, and validated on the Ethereum network. Then came Gas and Fees, a topic that initially felt like a puzzle. Iteoluwa’s analogy of gas as “fuel for the Ethereum engine” made it click every transaction needs gas to pay for computational work, and fees depend on network demand. We also explored the Ethereum Structure, from blocks to the blockchain’s decentralized ledger, and how EOAs and Ethereum Transactions power everything from simple transfers to complex smart contracts.

Iteoluwa’s teaching style is intense but inspiring. His constant tests multiple-choice questions at the start of each session and written exams at the end kept us sharp. At first, I dreaded those MCQs, but they forced me to lock in key concepts like gas limits and nonces. The written tests pushed me to explain ideas in my own words, which was tough but rewarding. Iteoluwa’s feedback was always spot-on, pointing out where I could dig deeper or clarify my thinking. His encouragement to “ask the dumb questions” made me feel safe to learn without fear of messing up.

EIP-3156: Flash Loans and My New Nickname

Our big assignment this week was to research and present on an Ethereum Improvement Proposal (EIP). I made a presentation on EIP-3156: Flash Loans, a standard that fascinated me for its bold, almost sci-fi-like approach to DeFi. Flash loans let you borrow massive amounts of assets without collateral, as long as you repay them (plus a fee) within the same transaction. If you don’t, the whole transaction reverts, making it risk-free for lenders. They’re like financial time travel borrowing money, using it, and paying it back in a single blockchain moment.

Use Cases for Flash Loans:

Arbitrage: Traders use flash loans to exploit price differences across decentralized exchanges, borrowing funds to buy low on one platform and sell high on another, all in one transaction.
Collateral Swaps: Users can swap collateral in DeFi protocols (e.g., replacing ETH with wBTC) without tying up their own funds.
Liquidations: Liquidators use flash loans to pay off undercollateralized loans and claim discounted collateral, profiting from the difference.
Hacks (the dark side): Flash loans have been used in DeFi exploits, where attackers manipulate prices or exploit vulnerabilities, though proper implementation of EIP-3156 mitigates risks.

EIP-3156, finalized in November 2020, standardizes flash loans to ensure interoperability across protocols like Aave, Uniswap, and dYdX. It defines interfaces for lenders (via IERC3156FlashLender) and borrowers (via IERC3156FlashBorrower) with key functions like flashLoan, maxFlashLoan, and flashFee. The standard ensures the lender transfers tokens to the borrower, calls the borrower’s onFlashLoan function, and verifies repayment all in one transaction. It’s a game-changer for DeFi, making flash loans safer and more accessible. My presentation on EIP-3156 was a hit with my Cohort XIII classmates. We had a blast diving into the technical details, and I got animated explaining how flash loans could fund arbitrage or even save undercollateralized loans. Afterward, my classmates dubbed me “Flashloans” a nickname I’m secretly proud of. It’s a badge of honor for tackling a complex topic and making it relatable, even if I was sweating through the prep and at a point our mentor had to step in and break it down!

Avalanche Room: Where Learning Meets Laughter

Life in the Avalanche room is pure chaos in the best way. My roommates are a mix of coding nerds and joke machines. We’ve turned our room into a blockchain bootcamp, with laptops open 24/7. The beauty about avanlanche room is the fact that even though we all came from diverse backgrounds that didn't stop us from socialising with ourselves we do almost everything together ranging from going to classes, going to get food, going to buy snacks, debugging assignment, hosting group discussions ahead of tests and lest I forget the late night conversatuobs and joke that earned us the nickname “Avanlanche: the tribe that never sleeps”.

These bonds make the long hours and tough tests feel like a group adventure. And can we talk about the food again? Thank you, Web3Bridge team, for keeping us fed and happy!

What’s Hitting Me Hard and What’s Next

Iteoluwa’s push to understand the why behind Ethereum like why gas exists or how transactions stay secure has me thinking like a developer, not just a student. Mr. Ayodeji’s town hall vibes keep me motivated to step up, even when I’m drowning in assignments. My big goal? Nail those 50 smart contracts by week 16, maybe even build a flash loan-powered DApp for something like financial inclusion imagine giving people instant access to capital in underserved communities. The challenges are real keeping up with the pace and wrapping my head around complex EIPs but with Iteoluwa’s guidance and my Avalanche and Cohort XIII crew, I’m pumped to keep going.

A Big Shoutout

I’m so grateful to Mr. Ayodeji Awosika and the Web3Bridge team for creating this program. Their vision, humor, and let’s be real those delicious meals are turning me into a better coder and a better me. Here’s to more weeks of learning, laughing, and living up to my “Flashloans” name!

My Second Week at Web3Bridge: Ethereum, Flash Loans, and Avalanche Room Vibes