So, we used the following questions as a guideline to create a time management for our software developers team framework:

• How do I reach my peak productivity?
• Is multitasking effective?
• How to avoid distractions and manage time efficiently?
• What’s the best way to organize my schedule?
• What to do with goal-less meetings?
• How to handle meetings where I see no value?
• How to prevent distractions and stay focused?

Limitations of body & mind

Before diving into the framework we designed, it’s important to understand how our mind works, what’s possible and what’s not.

This section is important because it’s common to read, specially in Twitter/X, about the Hustle Culture, the mentality that one must work all day every day in pursuit of their professional goals. However, we must acknowledge that when we are not connected to our body and emotions, we are at risk of burning out.

Is multitasking effective?

Multitasking reduces cognitive capacity

What our brains are doing when we multitask is rapidly switching between tasks. This constant switching taxes our brain. It essentially tires it out and makes it less efficient. This particularly affects our ability to focus our attention in general, even when we are not multitasking. 

Multitasking makes us more distractible and prone to errors. For example, individuals rated as high media multitaskers (number of hours using multiple devices simultaneously, such as watching TV while also using a smart phone or tablet) showed poorer attention on cognitive tasks. 

Those individuals had to use more of their brain to complete the same task compared to low multitaskers. When you need to recruit more of your brain to complete a task, it means your brain is working less efficiently.

Daily cognitive budget

As Sam Altman explains in this interview, there is a daily cognitive budget of 8 high quality hours we can use before the output quality starts to decline. Put in another way: no human being can spend more than 8 hours in a day working at a high performance.

Sleep

According to the sleep researcher Matt Walker, only 1-3% of the population can operate normally with only 4 hours of sleep. Unless you are in this privileged group, you need at least 7 hours of good sleep per night.

In case you are curious on how to improve your sleep habits, check out this article.

A prioritization framework

Once we have improved our performance related to both body and mind, we can begin to think strategically about how we manage our time.

This time management framework for software developers was created based on reading, iterations, and collective experiences of the team (although we think it’s useful for any modern worker).

1. Get the important things done

• There should never be more than 2 mission-critical items to complete each day. 
• Do them separately from start to finish without distraction
• Extreme focus blocks (minimum 2 hours)

2. Don’t waste time

In this modern age, we are bombarded all day long, specially from Monday to Friday, by companies using multiple channels to capture our attention. Additionally, content is getting more and more addicting and our dopamine system is being hacked.

Take a look at this list:

• Checking email in real-time
• Receiving WhatsApp, Signal, Telegram, SMS notifications from groups, family, co-workers and sales representatives
• “Breaking News” that seem to be important (99% of the time they are not)
• TikTok videos
• Tweeter drama
• Instagram stories
• This list is endless…

3. Make lots of lists

We highly recommend making lists. Lists keep you focused, and you can review them periodically, reminding yourself of what’s important (and what’s not). They free up space in your mind—fewer things to memorize.

1. Of the 3 tasks I need to finish today
2. Of my goals for the quarter
3. Of my goals for the year
4. Of the books I want to read this year
5. Of the goals with my partner

Lists keep you focused; you can review them anytime.

Meetings: Do Them Right or Don’t Do Them at All

If within your role, you still have to organize or attend meetings, there are some rules that can help make them more efficient and productive. However, it’s important that you adhere to and encourage the team to follow them as well.

Meeting tips

L10 meeting: an efficient format for management roles

As part of the Entrepreneurial Operating System® (EOS®), the Level 10 Meeting (L10) creates a standard structure for productive meetings. No, really. EOS lays out a template for team meetings to focus on the most important things each week without the nonsense.

On a scale of 1 to 10, most people would rank their current meetings at a 4 or 5. In some cases, even that’s being generous. In a Level 10 Meeting, attendees focus on the most important topics to spot issues before they become bigger problems. But that doesn’t come naturally (as evidenced by the prevalence of crappy meetings). To get there, companies Running on EOS use the standardized L10 agenda.

What makes a L10 meeting so effective?

Because Level 10 meetings operate at a repeatable, strategic level, they provide a solid framework covering material that matters. Opinions and politicking have no place in a meeting that focuses strictly on objectives and metrics. Teams also learn to minimize tangents and sidebar conversations to cover only what matters.

In addition, the same two individuals (or their proxies during vacations) serve as the facilitator and the scribe for every meeting. This removes the question, “Who’s leading this meeting?” The same goes for the scribe role: Everyone already knows who’s taking notes. Removing this ambiguity saves precious minutes discussing and agreeing to roles in each meeting.

If you are interested in learning more about L10 and EOS, check out this article.

Please let us know if you enjoy this time management tips for software developers!

The post The best time management framework for makers appeared first on Mighty Block |.

A private key is a large binary string used by a crypto wallet for signing the transactions that later will be sent to the chain. 

In this article we are going to take a journey from the generation of the seed phrase to the multiple wallet address generation, making a special stop at the private key creation and paying attention to the technical details of this process. 

How is the seed phrase generated? The BIP39 proposal

BIP stands for Bitcoin Improvement Proposal. They are documents that describe a proposal for improving the Bitcoin blockchain ecosystem. BIP39 is called “Mnemonic code for generating deterministic keys” and describes the process of generating the mnemonic code. Here’s how it is done:

The words are taken from a word list that is available in several languages. The length of the list is always 2048 (2048 = 2¹¹, the number of bits used for grouping ENT + CS).
The quantity of words produced depends on the amount of entropy bits (ENT – the randomness factor of the initial seed). Typically the lengths used are 128 bits, leading to 12 words, and 256 bits, resulting in 24 words.

How is the private key generated? 

Binary seed

Once the mnemonic seed phrase is obtained, numerous private keys can be generated from it. That is why wallets such as Metamask and Trezor are able to generate any number of accounts needed with only one seed phrase.

To generate the private keys from the seed phrase, the initial step involves computing a binary seed derived from the mnemonic. This computation uses the key stretching algorithm PBKDF2 with HMAC-SHA512, where the seed phrase is concatenated with the string “mnemonic” and a password utilized as a salt. In instances where no password is utilized, only the term “mnemonic” is appended.

Employing PBKDF2 increases the time and computational power needed for brute-force attacks, rendering it highly impractical to utilize this approach for cracking a seed phrase.

It is worth mentioning that this process and the seed phrase generation are completely separated processes. This process can be used with a mnemonic seed generated from a totally different process.

Private keys

Now it is time to use the binary seed to generate private keys (and from those, public keys and wallet addresses). The following process describes what it is known as a HD Wallet (Hierarchical Deterministic Wallet). First we need to create a Master Private Key, a Master Public Key and a Master Chain Code from the Binary seed:

From this derivation we will produce all the accounts we need in a deterministic way. To create new accounts, we require:

• Either the Master Private Key or the Master Public Key.
• The Master Chain Code: this will be used as a source of entropy. 
• A 32 bit integer number used as index.

In the diagram above we used the Master Private Key, but as said earlier we can also use the Master Public Key. The difference between using one or the order is generating a Hardened Key or a Normal Key, but that is out of the scope of this article. 

We can create a virtually limitless quantity of private keys with this method either by changing the index or using a Child Key as a Master Key and repeat the process. This way we can have a tree of private keys.

Gluing it all together

We saw how a seed phrase is generated, used to generate a binary seed that then is used to generate a Master Private Key. This Master Private Key allows us to generate multiple Child Private Keys.

Public Keys and Wallet addresses are derived from Child Private Keys. It is a chain of derivation:

Does this mean that I always need a seed phrase to generate private keys? No! In fact, at the beginning of the blockchain era, all private keys were created individually.

Security

Is it worth trying to guess a seed phrase? Imagine that your seed phrase is composed of only one word of the word list. This means that the attacker has to try only 2048 combinations to derive your private key and steal all your assets. Suppose that deriving a private key with a specific combination takes 1 millisecond, then, it would take around 2 seconds to test all the possibilities!

Imagine now that your seed phrase is composed of two words of the word list. This means that the attacker has to try 2048 x 2048 = 2048² = 4194304 combinations to derive your private key. Assuming the 1-millisecond scenario, it would take the attacker around 1 hour and 10 minutes to test all the possibilities. That is a lot more!

Let’s repeat the process but now with 12 words. This means the attacker has to try 2048¹² = 5444517870735015415413993718908291383296 combinations. It would take around 2048¹²÷1000÷60÷60÷24÷365 ≈ 172644529132896227023528466479 years.

Conclusion

We saw the main difference between seed phrase vs private key, how it helps to keep your assets safe (by saving a phrase instead of a very long easy to forget number). 

Are we at the end of the road? It doesn’t seem to be the case, even though this is a huge improvement on how wallets are created, managed and recovered it is still not enough to enable massive adoption of the crypto ecosystem. There are currently a lot of efforts to make the crypto space more user friendly. A proof of that is Ethereum’s ERC-4337, known as “account abstraction” that will, among other things, allow the user to use standard methods of authentication such as fingerprint instead of having to store a mnemonic phrase.

The crypto space traveled a long distance to be where it is today, but there’s still a lot ahead that needs to be explored, new methods to develop and new things to be discovered. In my opinion, this is just the beginning of this amazing trip. Even though mnemonic phrases are the way-to-go today, it is worth paying attention to the new solutions that arise from the community. One or many of those new ideas will help to on-board the next generation of users and allow the mass adoption of this amazing technology.

We are always looking for Web3 talent !

Mighty Block is one of the partners of Forte, a platform to enable game publishers to easily integrate blockchain technologies into their games. We believe blockchain will enable new economic and creative opportunities for gamers around the world and have assembled a team of proven veterans from across the industry (Kabam, Unity, GarageGames, ngmoco, Twitch, Disney), as well as a $100M developer fund & $725M funding, to help make it happen. That’s where you come into play.

Feel free to browse all our current open job opportunities in the following link

The post Seed Phrase vs Private Key: a technical overview appeared first on Mighty Block |.

With the management team, we had a vision: a high-performing team with strong bonds that would enable us to uphold open and honest communication. It may sound like a lot because it wasn’t a feature we could simply develop and consider “done”; it required us to embrace learning and experience some discomfort.

Core concept for a start up culture

We selected the concept coined by Carol Dweck, the ‘Growth Mindset,’ as the central theme for the year. 

In essence, the concept introduced by Carol Dweck can be summarized as follows: Individuals who believe in the potential for their talents to develop through hard work, effective strategies, and input from others possess a growth mindset. They tend to achieve more than those with a fixed mindset who believe their talents are innate gifts. This is because those with a growth mindset worry less about appearing intelligent and invest more energy into the process of learning.

When entire companies embrace a growth mindset, their employees report feeling significantly more empowered and committed. Additionally, they receive increased organizational support for collaboration and innovation. In contrast, individuals in companies primarily rooted in a fixed mindset tend to report more instances of cheating and deception among employees, presumably as an attempt to gain an advantage in the talent competition.

We chose this concept to serve as our guiding principle whenever our team faced an obstacle. The first thing we did was to share it with the team and reinforce it in every conversation opportunity. When designing the training for team leads, we knew it was crucial to rely on this concept to implement the changes and improvements we envisioned for our ‘Clarity Break’ training.

Victim or player?

But how did we first come to embrace this concept? We have a Friday tradition that has been with us since the first day of Mighty Block: Crypto Research. Originally, it was a forum where we discussed various topics related to crypto that had been researched. This was crucial in the early days of the company when the crypto industry was rapidly expanding, and our team was relatively new to blockchain. It was essential to stay updated on all the latest developments.

However, recently, it became tedious to find a NEW topic for research related with crypto. We would prepare it without enthusiasm, procrastinate, and so on.

To address this issue, we began to contemplate the two models, framed by the ‘victim vs. protagonist’ dichotomy introduced by Freddy Coffman. What does a victim do when they don’t like Crypto Research? They complain, get frustrated, and kick it – were some of the responses we received. 

On the other hand, as protagonists, we seized an opportunity during a workshop we held in Cordoba. Together, we designed a new format, made commitments, and implemented the change. We would no longer confine ourselves to a single topic (crypto), but instead, we would include subjects that positively impact our daily lives. Additionally, we could invite guests and introduce special editions featuring panel discussions. Change the name help us to not limited ourselves and give to  “the mighty show” a new beginning

Open and Honest Feedback

In order to learn from each other, take more risks, and grow as a team, we needed to ensure that we had the skills to provide feedback in an open and honest manner. That’s why it was essential to dedicate time during the workshop we held in Buenos Aires to discuss those ‘monsters’ that make us hesitant when it comes to giving feedback.

Fears of having to take on extra tasks, fear of hurting someone else’s feelings, fear of being wrong in my assessment, among others – identifying these fears helped us. We created actions in collaboration with the leads to ‘combat’ them and encourage each other to embrace the open and honest mindset. Later, during a virtual discussion, we explored the best tips for effective communication when giving feedback. We reviewed do’s and don’ts to enhance our feedback process.

Learning from Mistakes

Mistakes are a fundamental source of learning in a start up culture, and we’ve been discussing what happens to us when we make mistakes, the emotions and feelings we experience, and how we can make the most out of our errors. In a special session of our Friday “Mighty Block Show”, we learned that the key to evolving from the traditional concept of failure is not to view success and failure as a binary but to incorporate them into the learning process.

We shared our experiences with error and took away some key insights: When we’re trying to resolve an error, it’s beneficial to take a moment to clear our minds, seek help, and breathe. When someone shares a problem or mistake they’ve encountered, it’s essential to assist and make them feel comfortable and supported. We emphasized not getting caught up in the mistakes – they don’t define us.

Strong Growth Workshop – Key Takeaways

At our start up culture, we have a unique tradition. Every quarter, we come together as a team for an entire week. During our recent gathering, we revisited the invaluable lessons we’ve learned throughout the year.

With the theme of ” Strong Growth” in mind, we approached our learning experience in a playful way. We incorporated various games to enhance our understanding of these lessons. We recognized that mistakes are an integral part of the learning process; they are the stepping stones to success. We also acknowledged the value of maintaining a player’s attitude – being open to new challenges and eager to explore uncharted territories. We also learned that frustration and expectations often go hand in hand. By acknowledging this fact, we can navigate our professional journeys with greater resilience and a clear perspective.

One of the most exciting outcomes of our learning journey was the construction of a Jenga tower. This tower, where each block represented our learnings and experiences, serves as a symbol of our team’s commitment to growth and our evolving organizational start up culture. It visually represents how we stack our achievements, learn from our failures, and build a stronger and more resilient team.

Incorporating playful learning into our professional development has not only made our quarterly gatherings more enjoyable but has also proven to be an effective way to drive our team’s personal and collective growth. We look forward to the upcoming quarters with renewed enthusiasm, ready to embrace the challenges and successes!

Check out this video with our experience in the last workshop.

The post Building a Start Up Culture of Growth appeared first on Mighty Block |.

What is a token?

A thing serving as a visible or tangible representation of a fact, quality, feeling, etc. It also has a value that is associated with its context.

Types

Non fungible: Non-fungible means that something is unique and can’t be replaced. By contrast, physical money and cryptocurrencies are fungible, which means that they can be exchanged for another object with the same attributes.

Fungible: Replaceable by another identical item; mutual interchangeable.

ERC20 structure

Standard representation for fungible tokens.

Identified by Name and Symbol, allows to transfer from your account balance and approve other accounts to spend in behalf of your account.

Implementation: Although what matters is the interface, it is advisable to use an implementation that is already tested and verified. I recommend the one from OpenZeppelin: https://github.com/OpenZeppelin/openzeppelin-contracts/blob/master/contracts/token/ERC20/ERC20.sol

Why to use the standard token – ERC20?

Interoperability: Most decentralized applications support standards, this makes our token able to work in these scenarios.

No Vulnerability: Using tested and verified implementations means we avoid making mistakes in the implementation of tokens.

Easier: It makes it easy to integrate tokens into your contracts, so you only have to worry about calling functions.

Uses

Stable coins (DAI, USDT)

Fans Tokens (AFA Token, PSG Token)

Governance (Maker, Uniswap)

Play to earn (A)

Other tokens:

ERC1155: Multitoken standard

ERC777: add hooks to the transfers.

ERC677: allows to customize the callback function for the transfer.

ERC223: improves the security of the token transactions.

The main difference btw ERC20 and native tokens:

A native currency has its own issuance and transfer rules tied to the network implementation. On the other hand, tokens allow the issuance and transfer rules to be customized, in addition to representing assets that are not necessarily related to finances, taking advantage of all the security and decentralization of the blockchain.

You can visit this video by @sebaleoperez with the ERC20 presentation in EthBogota 2022.

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