Homework: Web3.0 and Tokens

Ethereum 101
#4020
  1. Data ownership, fewer Intermediaries, transparency, efficient searching and linking information
  2. A token is an asset created on Ethereum and other blockchain projects
  3. A token can be created on Ethereum using a smart contract

4 Replies

47

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tvnaresh

Jul '19

  1. Monopoly of few companies will cease to exist which promotes privacy, security and innovation. Underlying protocols will be able to generate money unlike in Web 2.0.
  2. Token is built on smart contract platforms like Ethereum, EOS etc. It’s a programmed money of fixed supply based on smart contract.
  3. Tokens are created by writing smart contracts by hard coding the logic and number of tokens.

4 Replies

10

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mikekgs

Jul '19

  1. The benefits of Web 3.0 is that smaller players can attract new users by offering real financial rewards. This also gives the platforms realistic methods to judge the value of the content that users are adding, so can offer real benefits.
  2. A token is a currency based on an actual coin that implements a smart contract to handle it.
  3. A token can be created by implementing a smart contract using one of the token standards like ERC20, ERC721 and ERC233

16

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Lynn_Qi

Jul '19

  1. What are the benefits of web 3.0 (decentralized internet)?Transparency: Independent from the major corporation.Fewer Middlemen: remove trust from persons. No need to pay for profits to central authority in
    transaction.More value: the content, user contribute to network will have rewards.
  2. What is a token?A token contract is a smart contract that includes account addresses and their balances. The unit of the balance is token, which represents physical objects, another monetary value or a third the holder’s reputation.
  3. How do you create a token on Ethereum?A token can be created as a smart contract in Ethereum.

20

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17 DAYS LATER

Shivani_Shah

Aug '19

  1. The value is captured at the protocol level. And money does not go to the Middle man but more peer-to-peer.
  2. A token is a unit of value created on top of Ethereum by a token smart contract. Its generation, destruction and behaviour can be controlled by the smart contract
  3. A token can be created on Ethereum using a smart contract

7

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RichieR

Aug '19

  1. The benefits of web 3.0 (decentralized internet) are there is opportunity for protocols to gain value instead of only the applications (Google, Facebook). You’re also able to create your own cryptocurrency, economic model on platforms such as Ethereum and EOS to name a few.
  2. A token is value existing on a blockchain and they can be either fungible or non fungible.
  3. On Ethereum you can create a token by smart contracts.

6

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25 DAYS LATER

dave-dave

Sep '19

  • What are the benefits of web 3.0 (decentralized internet)?
    The opportunity for smaller companies and individuals to compete with large corporations
  • What is a token?
    A Token is an object which represents the right to perform some operation.
  • How do you create a token on Ethereum?
    A token can be created as a smart contract in Ethereum .

3

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Dave_Simo

Sep '19

  1. Web 3.0 allows an open economy, in which early adopters are incentives by being the first ones to use a program.
  2. A token is another form of cryptocurrency.
  3. Using solidity which is a simple code that allows you to create smart contracts with a fungible token.

2

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mszp

Sep '19

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?

Web 3.0 enables to earn tokens.

  1. What is a token?

It is a kind of coin that can represent different value, for example as phycical objects, reputation, money etc. Their infrastructure is based on the smart contract platform like Ethereum, EOS or Cardano.

  1. How do you create a token on Ethereum?

You use Ethereum as infrastructure, then it is recommended to use some kind of standard like ERC-20 or ERC-777 to be able to connect with common wallets and finally your token will be using gas which then will be converted into the ethereum to execute functions within the smart contract.

5

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DKSA

Sep '19

  1. Fewer Middlemen, Privacy, Data Ownership, Economic Incentives, Unstoppable, Trustless
  2. a Token is a (fungible or non-fungible) digital asset created by a smart contract, built on top of a blockchain network.
  3. a Token can be create by writing a smart contract on the Ethereum blockchain by following the standard codes required, then executed by the EVM and validated by the blockchain nodes.

8

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acidspud

Sep '19

  1. I think the main benefits of WEB 3.0 is the control over Data Ownership and Sharing . There is no need for the middleman and can connect providers directly with consumers. This means bigger incentives, more decentralised and better privacy.
  2. Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain (SOURCE: https://masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/ )

Building your own Ethereum based ECR20 Token in less than an hour

  1. Step 1: Contract code. …
  2. Step 2: Create Ethereum wallet with MetaMask. …
  3. Step 3: Get Ropsten Ethers. …
  4. Step 4: Edit the contract code. …
  5. Step 5: Deploy Contract Code on Remix. …
  6. Step 6: Publish and Verify Contract. …
  7. Step 7: Add token to your wallet.

(Source: https://blog.goodaudience.com/building-your-own-ethereum-based-ecr20-token-in-less-than-an-hour-d4d4c7a14b1e )

12

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ArtfulEntrepreneur

Sep '19

  1. What are the benefits of web 3.0 (decentralized internet)?
    The benefits of a decentralised internet are: innovation, lower barriers to entry, increase in competition, leading to economic growth in industries that have been dominated by large international corporations i.e Google Facebook etc
  2. What is a token? A token is a fungible or non-fungible programmable digital asset that represents value on a blockchain protocol
  3. How do you create a token on Ethereum? By utilizing the protocol standards of ERC20 in creating a smart contract and associated tokens

1 Reply

2

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Aran

Sep '19

  1. Users can be compensated for their content and there will be less censorship because of blockchain immutability. It will also end the virtual monopoly of big tech.
  2. A token is a crypto asset built on top of a platform coin such as Ethereum.
  3. A token on Ethereum is created by means of a smart contract and coded in accordance with specific standards such as ERC20.

1

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rushdi202

Sep '19

1- Economical part to the protocool
2- A smart contract running above etherium
3- following the fundamentals of ERC20

1

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BlueBubble

Sep '19

1.the economic incentive for early adopters of early adopter’s advantage (cheap tokens) can allow small companies and their small products to entice new users to try their product by rewarding them with tokens in exchange for their participation
2. a token is an object with specific properties built on a second layer economy on top of an already existing blockchain
3. you deploy a smart contract.

1

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Gedas

Sep '19

  1. Protocol level has a lot of value, decentralized web.
  2. Token your represents your product, service.
  3. By programming smart contract launching an erc20 token
1 Like
#4021

  1. Better security, better incentives for creators, less censorship, more innovations.

  2. WEB 3.0 tokens are decentralized projects that use smart contracts and automate transactions over the internet. One could also call them digital assets.

  3. First you must purchase ETH, then create your token using a tool that allows you to write SOLIDITY smart contracts and deploy it on ETH network.

1 Like
#4022

  1. Web 3.0 rewards the protocol and not the companies using it. It gives the users the leverage that Meta, Google etc. have in Web 2.0.

  2. A token is an asset used in application built on top of the Ethereum network using blockchain. This includes both fungible and non-fungible tokens (NFT).

  3. You deploy a smart contract with solidity code on the ERC20 network.

#4023

  1. What are the benefits of web 3.0 (decentralized internet)?
    It will not be held in the hands of few companys like it is now. No centralisation will allow no censorship,
    It will allow to get value at protocol level, which is not the case with web2.
    Decentralised apps developed here will be able to have economics which will allow sharing of the profits those apps will make together with the users of the app.

  2. What is a token?
    A token is usually a payment system which is used within the app in order to pay for fees.
    It can be fungible - used as money for payments or unfungible, which represents unique assest, like photos, pictures, etc.

  3. How do you create a token on Ethereum?
    You need to follow ERC 20, or ERC721 or ERC1155 standards, make a smart contract.

#4024

1. What are the benefits of Web 3.0 (decentralized internet)?
Value can be captured at the protocol level (blockchain) if there is a crypto incentive built in.

2. What is a token?
A token is the result of a smart contract that is written on top of a blockchain platform.

3. How do you create a token on Ethereum?
You create a token on Ethereum by programming a smart contract (using Solidity) and following the rules of a certain standard, ex: ERC 20.

#4025

1 The benefits of web 3.0 (decentralized internet) include increased security, privacy, and censorship resistance. It also allows for more efficient data storage and sharing, as well as improved scalability and interoperability. Additionally, web 3.0 enables users to have more control over their data and how it is used.

2 A token is a digital asset that is used to represent a certain value or utility on a blockchain-based platform. Tokens can be used for a variety of purposes, such as to represent a digital currency, to access a platform or service, or to represent a share in a company.

3 To create a token on Ethereum, you will need to write a smart contract using a programming language such as Solidity. This smart contract will define the rules and functions of the token, such as its supply, transfer, and approval. Once the smart contract is written and deployed, the token will be created and can be used on the Ethereum blockchain.

#4026
  1. What are the benefits of web 3.0 (decentralized internet)?

  • The benefits of a decentralized internet is that users will truly have control over what they do or do not and, in exchange, he’ll have to pay for it. Also, a instead of spending money, depending of the finality of the dapp the user is interacting with, he could make money (gain token related to that dApp), specially if that dapp has just begun its operation.
    Even though, it’s extremely important to keep in mind that any action which is posted into a blockchain has a cost and the following is the main reason that makes it necessary that everyone pays for everything that is posted: Everything is a transaction, it will be registered in the blockchain forever and this action itself has a cost because of the process of mining or validation.

  • Examples: A web3 network won’t be able to bring down any kind of posting if it really doesn’t violates the rules, because it’s decentralized and, if all the nodes agree that some content may be posted, than it will be put into the blockchain and no one, no entity or government will be able to censor it.

  1. What is a token?
  • A token is a unit of value (that may, or not, be fungible) that is created as a smart contract on a protocol layer blockchain such as Ethereum, EOS, Polygon, Etc. and it always has to follow a set of standards (commonly ERC-20) in order to enable other dapps and wallets to recognize that smart contract as token contract, and to provide easier interchangeability (trade) between these tokens.
  1. How do you create a token on Ethereum?
  • Depends of the kind of token you want to create. If it’s a ERC-20 Token (Fungible Token), you have to write a smart contract that follows some minimum standards in order to wallets and dapps to recognize it as a token. If it is a NFT (Non-fungible Token), then, you’d have to write a smart contract following either of these standards: ERC-721 or ERC-1155. Luckly, nowadays, free platforms like open zeppelin provide anyone with the functionality of creating any of those smart contracts I just cited by clicking some buttons.
#4027

  1. What are the benefits of web 3.0 (decentralized internet)?
    it really helps to reward more the underlying tech rather than rewarding the product built on top of the underlying tech like web 2 did

  2. What is a token?
    a token is a digital currency built on the protocol of another digital currency (coin)

  3. How do you create a token on Ethereum?
    by following the ERC20 token standards

#4028
  1. What are the benefits of web 3.0 (decentralized internet)?

Have access to your tokens, NFT and cryptocurrency. Build economy with dapps and create tokens using smart contract that have a special purpose like decentralized exchange, social media, gaming, defi and streaming on ERC20 to support small businesses to capture the value and reward the people instead of big tech (web 2.0 )

  1. What is a token?
    Fungible token are the same value and non fungible token have different items, ID, Property, unique and market price

  2. How do you create a token on Ethereum?
    Smart contracts

#4029
  1. What are the benefits of web 3.0 (decentralized internet)?
    because everyone can make money and be early trought crypto
  2. What is a token?
    digital currency build on another digital currency
  3. How do you create a token on Ethereum?
    with erc20 standards
#4030
  1. What are the benefits of web 3.0 (decentralized internet)?
    a. Nobody can stop the network and censor a transaction. Users are able to own instead of write and read. You can own your data/money. Projects have the possibility to directly raise money and gives early adopters an incentive to do so.
  2. What is a token?
    a. A token (mostly ERC20) is based on the Ethereum network and can define it’s own rules. But there is a standard it has to follow. A token allows you to create your own crypto project.
  3. How do you create a token on Ethereum?
    a. You use the ERC20 standard and write your own Smart contract which defines the token.
#4031
  1. The benefit of web3 is that users can be compensated for their contributions and interactions on the network. More interactions and creativity also make the ecosystem more attractive to many others.
  2. A token is a financial application built on top of a coin. An example of this is a coin built on top of the Ethereum network using Ether Coin.
  3. You can build an application on the Ethereum Blockchain, create a token on top of the Ether Coin and allow others to buy and sell that token using smart contracts and Solidity.
#4032
  1. What are the benefits of web 3.0 (decentralized internet)? 1) Removes the middle man; 2) More efficient/frictionless as it’s all digital; 3) Composable between the different app
  2. What is a token? Fungible asset that can be used within a project to get benefits
  3. How do you create a token on Ethereum? A token is developed and programmed using standards (e.g., ERC21, ERC721)
#4033
  1. Eliminates the need for centralized management and company monopolies.
  2. Digital assets that operate on given blockchain.
  3. Smart Contract development on the Ethereum Blockchain using ERC-20.
#4034
    1. Decentralization: One of the primary benefits of Web 3.0 is decentralization. Instead of relying on a central authority or server to control the flow of information, the decentralized internet is designed to be distributed, with multiple nodes and servers sharing the workload. This makes it more difficult for any single entity to control or manipulate the data and provides greater security and privacy for users.
  1. Enhanced Security: Web 3.0 provides a more secure environment for online transactions and data sharing. Decentralized systems are inherently more resilient to hacking and cyberattacks, as they do not rely on a central point of control. Additionally, the use of blockchain technology in Web 3.0 enables the creation of tamper-proof records and smart contracts that are secure and transparent.
  2. Data Ownership: With Web 3.0, users have more control over their personal data. Decentralized platforms allow users to own their data and control who can access it, rather than having their data stored and controlled by a third party. This gives users greater autonomy and privacy over their personal information.
  3. Transparency: Web 3.0 provides greater transparency in online interactions. Smart contracts and blockchain technology enable transparent, tamper-proof records of transactions, making it easier to track and verify information.

  1. A token is a digital asset that is issued and managed on a blockchain network.

  2. To create a token on Ethereum we would need to write and deploy a smart contract.

#4035

  1. What are the benefits of web 3.0 (decentralized internet)?

    The benefit of web3 mentioned in the video is that you can have dApps being developed and it introduces the possibility to have economical incentives. With web3 most of the value is captured at the protocol level, instead of at the application level as it happens in web2. Moreover, web3 introduces the concepts of ownership and decentralization.

  2. What is a token?

    A token is a digital asset that is built on a blockchain that has smart contracts capabilities. For example, tokens can be built on top of Ethereum.

  3. How do you create a token on Ethereum?

    A token is created using a smart contract, and usually using the standard ERC20.

#4036
  1. What are the benefits of web 3.0 (decentralized internet)?
  • User Empowerment: Web 3.0 aims to shift power from centralized intermediaries to individual users. It enables users to have more control over their data, privacy, and digital interactions, reducing reliance on centralized platforms.
  • Data Ownership and Privacy: Web 3.0 promotes self-sovereign identity and allows users to control and own their personal data. It enables privacy-enhancing technologies and cryptographic protocols to protect user information.
  • Interoperability: Web 3.0 fosters interoperability between different decentralized applications and platforms. It enables seamless interaction and exchange of data, assets, and services across various projects and ecosystems.
  • Transparency and Trust: Decentralized technologies in Web 3.0, such as blockchain, provide transparency and immutability, enhancing trust and accountability in digital transactions and agreements.
  • Innovation and Openness: Web 3.0 encourages innovation by providing an open and permissionless platform for developers to create and deploy decentralized applications. It fosters collaboration and creativity, unlocking new possibilities and business model

  1. What is a token?
    In the context of blockchain and cryptocurrency, a token is a digital asset or representation of value that exists on a blockchain network. Tokens can represent various things, such as a cryptocurrency, a utility or access right within a platform, ownership of a physical or digital asset, or a representation of a specific asset or value.

  2. How do you create a token on Ethereum?

  3. Define the Token Specifications: Determine the details of your token, such as its name, symbol, total supply, number of decimal places, and any additional features or functionalities you want to implement.

  4. Write a Smart Contract: Develop a smart contract using a programming language like Solidity. The contract should adhere to a token standard, such as ERC20 (for fungible tokens) or ERC721 (for non-fungible tokens). The smart contract defines the behavior and properties of your token, including functions like token transfers, balances, approvals, and other custom functionalities you may want to include.

  5. Compile the Smart Contract: Use a Solidity compiler to compile your smart contract code into bytecode, which can be executed on the Ethereum Virtual Machine (EVM).

  6. Deploy the Smart Contract: Deploy the compiled smart contract onto the Ethereum blockchain. This process involves creating a transaction to deploy the contract and paying the necessary gas fees.

  7. Interact with the Token: Once the token smart contract is deployed, you can interact with it using various tools and interfaces. This includes transferring tokens, checking balances, and integrating the token into decentralized applications or exchanges.

#4037

a. Enhanced privacy and security: Web 3.0 utilizes encryption and decentralized storage, allowing users to have greater control over their data and reducing the risk of centralized data breaches.

b. Peer-to-peer interactions: Web 3.0 enables direct interactions between users without the need for intermediaries, fostering a more decentralized and democratic online environment.

c. Interoperability: Web 3.0 aims to create an interconnected network of decentralized applications (DApps) and protocols, allowing seamless communication and data sharing across different platforms.

d. Tokenization: Web 3.0 facilitates the creation and use of tokens, enabling new forms of value exchange and incentivization within decentralized ecosystems.

  1. A token is a digital representation of a tradable or fungible asset. It can represent various forms of value, such as ownership rights, access to services, or a stake in a decentralized network. Tokens are typically created and managed on blockchain platforms, like Ethereum, and can be transferred between participants within the network.

a. Define the token’s characteristics: Determine the name, symbol, total supply, divisibility, and other attributes of your token.

b. Write a smart contract: Use Solidity, the programming language for Ethereum smart contracts, to write the code that defines the behavior and functionality of your token. This code will include details such as how the token supply is managed, how tokens can be transferred, and any additional features or logic you want to incorporate.

c. Deploy the smart contract: Once you have written the smart contract code, you need to deploy it onto the Ethereum blockchain. This step involves interacting with the Ethereum network using tools like Remix, Truffle, or other development frameworks. Deploying the contract will create a unique address on the blockchain where the token’s code and data reside.

d. Test and verify the token: Before making your token available to the public, it is essential to thoroughly test the smart contract’s functionality and security. You can use test networks like Ropsten or Rinkeby to simulate the deployment and interactions with your token.

e. Interact with the token: Once your token is deployed, you can interact with it using Ethereum wallets or through decentralized exchanges (DEXs). Users can hold, transfer, or trade your token based on the rules defined in the smart contract.

1 Like
#4038

  1. What are the benefits of web 3.0 (decentralized internet)?
    Everyone can benefit from their efforts instead of a few big companies.

  2. What is a token?
    Currency of a smart contract

  3. How do you create a token on Ethereum?
    Through the creation of a smart contract

1 Like
#4039

1. What are the benefits of web 3.0 (decentralized internet)?
A decentralized internet would give the opportunity for smaller companies to compete with large corporations like Facebook and Google. Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens than later in a platform’s life cycle when adoption has increased and the value of those tokens have as well.
2. What is a token?
Smart contract can be considered itself as a currency, a TOKEN that stand on top on a network like Ethereum. NFTS are basically tokens related to items present in,for example, games. They could be for example, character of a game.
For example in a battle game the helmet of your character has an unique ID, The shield has another ID and so on, they are really not fungibles tokens.
3. How do you create a token on Ethereum?
For example developing and deploying a Smart Contract following the ERC20 stnadard. Its a standard that defines the way developers program the token, that’s a positive thing since all the community follow the same rules.

1 Like