- It allows for people to capture the network value at the protocol level and it does not require middlemen such a businesses to capture it.
- Its a unit of a protocol network that can deliver specific functions as a smart contact that represents addresses and balances.
- Its created by a smart contract on Ethereum.
1 Like
Greater privacy and data security, achieved by removing central points of control and returning ownership of data to the user. There is greater network security also as node operators are also decentralised and are spread across the world. Decentralisation in itself also creates trustless and permissionless environments where anyone with an internet connection can participate.
A form of cryptocurrency built on top of another blockchain or network. They follow certain standards and are interoperable with other tokens on the same platform.
By replicating some simple code in line with the relevant token standard. (In writing and submitting this code you are also implementing a smart contract.)
1 Like
Quote FaierPlay:
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?
A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (ethereum, EOS, Tron, etc.)
3. How do you create a token on Ethereum?
A token can be created on Ethereum using a smart contract
1 Like
-
A decentralized internet would be based and operated on an open-source blockchain network. This would remove regulatory authorities, instead being a self-governing community. It would eliminate the monopoly that a few large corporations currently have on web 2.0 and remove the unethical practice of monitoring, recording, selling and misusing user’s personal data. Decentralized applications that run on the blockchain allow anyone to participate without monetizing their personal data.
-
A token is a representation of a particular asset or utility, that resides on top of another blockchain.
-
A token can be created as a smart contract on Ethereum. To create a token you can use an ERC-20 token standard implementation, these are standard templates for ERC-20 token contracts, then define in the code: token name, total initial amount of tokens, decimals and symbol, then deploy to the Ethereum network.
1 Like
1 With a decentralized internet people can built and use services which are censorship resistant and can be monetized to be helpfull for the community
2 Token is a digital representation of value in project or ecosystem that can be used in various ways to incentivese users or represent some part of a company success
3 To create a token you just need to write a smart contract using a specific standart
1 Like
-
The benefits of web 3.0 include placing the value at the protocol layer, allowing smaller companies to compete with larger corporations.
-
A token is a digital asset that is built on a smart contract platform like Ethereum. These assets can be either fungible or non-fungible.
-
A token can be created on Ethereum by following the ERC20, ERC721, or ERC1155 token standard when writing a smart contract.
1 Like
-
Web 3.0 allows value of people adopting a protocol to be captured at a protocol level. It’s not just the smart contract/DApp built on a protocol that captures the value. Web 3.0 allows for decentralized apps and DApps are able to be developed and they can create their own currency and economic models.
-
A token is a currency created in a DApp built on a smart contract protocol like Ethereum.
-
You create a token on Ethereum by using solidity to write a smart contract.
2 Likes
-
it helps small buisnesses to grow rapidly due to the fact that early adopters get insentive, so more people want to be early adopters
-
it is a digital asset on the second layer
-
You just need a smart contract
1 Like
Value can be accumulated nd traded
A program (smart contract) built on a crypto coin network that issues value that participants can hold and trade
Program a smart contract using the ERC20 standard
1 Like
- it web 3.0 the platform or users themselves are getting reward for activity in platform of social networks instead of big companies and monopolies were growing its wealth.
2.token is a cryptocurrency of project or platform to make it usable,to reward or incentivise users - to create token on ethereum you need to use Ethereum standart ERC20
1 Like
- What are the benefits of web 3.0 (decentralized internet)?
Early internet has given birth to large companies that monopolise. A decentralized internet would levle the playing field for SME’s - What is a token?
A token is a crypto currency created by smart contracts - How do you create a token on Ethereum?
Tokens are created using smart contracts that follow specific ERC20 standards
1 Like
1. What are the benefits of web 3.0 (decentralized internet)?
A: It enables the monetization of the protocol layers so that members of the network have a chance to profit from it. I.e. We can all have a share, but early adopters are more incentivized to use the network by gaining more tokens.
2. What is a token?
A: A token is a digital asset that runs on top of the Ethereum network that is either fungible (ERC-20 compliant) or non-fungible (ERC-721 or ERC-1155).
3. How do you create a token on Ethereum?
A: By using a smart contract.
1 Like
- Benefits of Web 3.0 include: (a) We participate in the Internet of Value where we can send and receive money and asset of value; (b) We do not need a middle man to facilitate the transfer of money Per to Peer; © Machines other than humans can be legal entities.
- Token is the currency of Smart Contracts sitting on e.g. Ethereum BlockChain. Tokens can be fungible (have the same value) or on-fungible tokens (NFTs).
- Smart contracts sitting on Ethereum can create tokens. New tokens are created by smart contracts (hard coding). Some standards include: ERC20, ERC721…
-
What are the benefits of web 3.0 (decentralized internet)?
The benefit of web 3.0 which will be built on Apps, Dapps and Smart contracts is that it will build its own economical infrastructure. Early adopters and social participation within the network creates value and incentive for it to grow in a decentralized manner. -
What is a token?
A token is a digital asset built on a smart contarct on a protocol like Ethereum -
How do you create a token on Ethereum?
Tokens are created through a smart contract written on Solidity. The can be ERC20, ERC721
Standards
1 Like
- It would allow little enterprises or startups to compete with social media giants
- A token is a digital asset or coin that works on Ethereum blockchain
- Programming it in a smart contract with ERC standards
1 Like
-
Apps can be designed for the user to also benefit or get incentives, and not only the companies behind the apps
This gives the smaller apps an opportunity to grow not have the current “monopoly” some corporations have -
A token is a smart contract or Dapp that is designed and built on a base like Etherium.
-
Use one of the ETH token standards that are accepted by all exchanges and wallets like ERC20 and create a smart contract or Dapp with those instructions
1 Like
- Web 3.0 allows for smaller companies to complete with larger corporations also allowing the protocols to generate money rather than the app developer
- A token is a digital assest assigned with a certain value that can be fungible or non-fungible which created by a smart contract built on top of a blockchain network.
- A token is created by creating a smart contract that abides by the specific standards of the ERC20 standard
1 Like
- The benefits of web 3.0 is that it is a model in which content providers can distribute their content in a way that is also incentivized with economic models using tokens.
- A token is the native “currency” of the ecosystem you are engaging in business with, referring in this case to a smart contract deployed on the Ethereum network.
- Using solidity in ERC20 standard you can write the code for a smart contract and deploy it on Ethereum given you are willing to pay the network fees to run your transactions.
1 Like
1, Benefits of web 3.0 (decentralised infrastructure)
- Transfers power from large monopolising entities (google, Facebook etc) to small, new entrants to the market by incentivising with token rewards for participation. Rather than being stuck behind the giant companies who have powerful established network effect in place, early adoption of new players in a space can be rewarded for participation with tokens, leading to greater participation and promotion, leading to token value growth and further adoption.
Also,
-
Wider distribution of power leads to less scope for abuse (feeling private data etc)
-
Financial rewards can be distributed and more can benefit
-
More inclusive, less scope for exclusion based on subjective viewpoints (e.g. political / socio-economic discrimination).
2, A token is a unique identifier of a unit of value within a system. Unit may be fungible (as with ETH), less fungible (as with Bitcoin - can be traced back to origin), and non fungible (NFT - e.g. a Digital gaming asset such as a sword)
3, A token can be created using a smart contract. Depending on the particular requirements of the token, different interfaces can be implemented in order to ensure widespread compatibility. E.g. ERC20 for fungible tokens and ERC271 for non-fungibles (unique) tokens.
1 Like
- It avoids putting too much power in too few hands (tech giants such as Facebook etc). Participation in social networks such as Steemit is monetarily incentivized. As a contrast, participation in Facebook mainly serves the monetary value of Facebook, not necessarily its users.
- A token is a cryptocurrency that is deployed on a blockchain (such as ETH).
- By deploying a smart contract
1 Like