Homework: Web3.0 and Tokens

Ethereum 101
#2091
  1. Web 3.0 incentive people by rewarding them for there participation using cryptocurrencies
  2. A token is a cryptocurrency (fungible or NFT) created on some block chains like ETH
  3. By creating a smart contract using standard ERC20 (Fungible tokens/ ERC721 NFT)
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#2092

  1. Benefits include the removal of middlemen (resulting in cheaper fees to get things done) and the transparency of actions (no shady collection of private data by tech giants).

  2. A token is a cryptocurrency issued by a smart contract.

  3. You would have to write a smart contract written in the ERC20 protocol before you can issue the related token.

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#2093
  1. with web2.0, most of the value will not go to the users, but it goes to the applications (centralized companies basically) built on top of the protocol. with web3.0 the value will go to the users based on their level of contribution to the protocol
  2. tokens are fungible (or non fungible in some cases) assets (smart contracts) built on Ethereum (or other protocols, but this course is about Ethereum)
  3. you need to write an ERC20 (or ERC721 {or other} for non fungible tokens) standard Smart Contract
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#2094
  1. What are the benefits of web 3.0 (decentralized internet)?
    Incentives early adopters, free market competition, privacy.
  2. What is a token?
    Is a digital asset that is build on top of Ethereum network.
  3. How do you create a token on Ethereum?
    By writing a smart contract using standards such as ERC20.ERC721/1155
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#2095

  1. Value is not only in the apps written on top of protocols but also in the protocols - start ups are incentivized and applications that typically have issues in the beginning because they rely on content (such as social networks), have an easier time to grow because activity on them is rewarded. We can trust in web 3.0

  2. A token is the currency in web 3.0 platforms that is usually rewarded for being active and or for helping it run, stay secure and grow. It’s a digital asset that can have any meaning you want it to. In Ethereum, a token is essentially just another smart contract.

  3. You write compile and deploy a smart contract that complies with the ERC20 Token standard.

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#2096

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

  • Decentralized internet provides transparency, creates trust less environment
  • Utilization of Digital currency that can be exchanged from peer to peer instead of relaying on the middleman such as Banks
  • Dapps created with smart contracts can revolutionize many industries such as insurance, Fiance, Healthcare by automating many process and providing good tracking

2. What is a token?

  • A smart contract written on the ERC20 Ethereum blockchain can create it’s own token to raise money to fund the project/idea as well as it’s own monetary system to use it’s services

3. How do you create a token on Ethereum?

  • When you create a smart contract with ERC20, you define the total supply of the token
  • When you pass ETHER to the smart contract in return it provides the Token
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#2097

What are the benefits of web 3.0 (decentralized internet)?
Benefit of using web3.0 is removing the middle man and the project you build is not depending on one of the major companies (payment processors, banks etc…)

What is a token?
Token is a digital asset on top of Ethereum created by smart contract.

How do you create a token on Ethereum?
Token is created by depoying a smart contract.

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#2098

  1. The benefits of WEB 3.0 is as follows.

  2. Transparency

  3. Privacy
    3.Data ownership & sharing
    4.Fewer middlemen
    5.Connecting the consumer directly with producers

  4. A token is a programmable digital unit which may represent fungible or infungible units of value.

  5. Tokens are created by smart contracts on ethereum

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#2099
  1. It allows value capture by more decentralised entities i.e. smaller players.
  2. A token is a type of smart contract, effectively a cryptocurrency if fungible or otherwise an NFT, hosted on a smart-contract blockchain and transferrable between supporting addresses (accounts).
  3. You use the ERC-20 token standard.
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#2100
  1. What are the benefits of web 3.0 (decentralized internet)?

Protocols are able to capture more value. Small projects have better chances to grow because early adopters are incentivised to use them.

  1. What is a token?

A token is an identifier for a unit of value within a system. It can be fungible (like ERC-20 tokens) or non-fungible (NFTs). In the crypto industry tokens are usually the cryptocurrencies deployed on an underlying blockchain protocol like Ethereum or EOS, while the native cryptocurrencies of these protocols (i.e. ETH) are called coins.

  1. How do you create a token on Ethereum?

By writing a smart contract you can deploy a token on Ethereum. You might follow different standard guidelines depending on the type of token (i.e. ERC-20 or NFTs) to ensure compatibility.

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#2101

  1. The benefits of a decentralised internet such as web 0.3 are the following:
    Transparency - Independence from other major corporations;
    Trust-less interactions - Removing trust and replace it with verify as there is no need for middlemen;
    Capturing value on the protocol level - Smaller businesses have the opportunity to compete with bigger corporations such as Google, Facebook ect.
    Early adopters are incentivised by earning a larger portion of the token by interacting, later on when adoption has increased the value of the token will also increase ( more demand = higher supply price), in this case early adopters will be earning less tokens but the value of the one obtained in the past will be higher.

  2. A token is a cryptocurrency/asset (fungible or non fungible) that is developed using a smart contract.

  3. A token can be created on Ethereum using a smart contract through a programming language called Solidity.

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#2102

  1. Web 3.0 is better then web 2.0 and web 1.0 on so many levels. It provides higher decentralization which is overall better for humanity. A good example is to look at the big Tech companies right now - Apple, google, Facebook, Amazon ETC. These handful of companies pretty much own the internet and are highly centralized. With the introduction of web3.0 new projects and decentralized communities can be born!

  2. A token or ERC20 is a token that is built on top of Ethereum or some other blockchain. It is often used as the native governance tool for a project.

  3. A token is created on Ethereum by creating a smart contact that governs the rules related to this " Token "

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#2103

Homework on Web 3.0, and Tokens - Questions

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

A. The De-Web 3.0 will be more about…being run by the people, for the people, and rewarding the people - with no authority over them because of the smart contract/blockchain decentralization.
The user incentives/rewards for new start-ups will slay the few giants in a way the giants will have to give way to more incentive and rewards - which will make web 3.0 a euphoria of user engagement, new creation, and entrepreneurial recreation and content extravaganza like never before seen.

  1. What is a token?

A. A programmable digital asset that is a data base entry within a smart contract.

  1. How do you create a token on Ethereum?

A. Use the ERC20 standard; create a smart contract of programmable code to run on the ethereum blockchain.

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#2104

1. What are the benefits of web 3.0 (decentralized internet)?
allows smaller businesses to compete with bigger players (ex: google). early users will be rewarded more tokens for using a newer platform and later the value will go up for the tokens
2. What is a token?
it is a currency that is built on a coin (Ethereum) that uses a SC for it
3. How do you create a token on Ethereum?
creating a SC can allow you to make a token

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#2105
  1. Web 3.0 technologies allow as to make decentralized apps (dapps) with smart contracts and gives value to the protocol.
  2. A smart contract that can be used as a coin.
  3. With a smart contract.
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#2106
  1. A couple benefits of web 3.0 are that, users will be in control of their data while companies and Dapp will be forced to move around this central sphere of user control , and one of the most integral features is that it makes users and their data the most important, everything else revolves around the user.
    2.A token in cryptocurrency, is a unique identifier of a unit of value within the blockchain system. Units maybe fungible or non fungible.
  2. A token can be created as a smart contract by using the standard ERC-20 which is a fungible token or ERC - 721 and ERC dash 1155 which are non fungible tokens.
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#2108

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?Allow startups or other companies to compete with giant data companies like fakebook, goober, and twerker via cryptocurrencies as a result of the popularity and content of their site.
  2. What is a token? A cryptocurrency created via smart contract on Ethereum blockchain.
  3. How do you create a token on Ethereum? Build it on top of Ethereum
    [/quote]
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#2109

Lesson 7: Homework on Web 3.0, and Tokens – Questions

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

Many small companies and start ups can now start to compete with the large monopolist (centralised) companies like Google and FaceBook by setting up their own economic models within their (D)applications, by basically financially incentivising users with platform cryptocurrencies (coins) to become early adopters. These smaller economic models build on blockchain models like Ethereum will most definitely succeed in the future because the value proposition is such that the users gets the value and gets to take the reward as opposed to the web 2.0 value proposition where the big monopolist companies like Google and Facebook would TAKE the value when you are using their platforms. Remember, if you don’t pay them for using them, YOU BECOME THE PRODUCT, and they’ll take the value. Long live decentralisation!

  1. What is a token?

A token is a digital asset, issued by a project (Dapp), to be used as payment within the project eco system. Examples are utility tokens, security tokens, asset tokens, stable coins, payment coins, equity tokens, NFTs (Non Fungible Tokens).

  1. How do you create a token on Ethereum?

By writing instructions in a smart contract using an ERC 20 compatible programming language like Solidity, you can create tokens which in turn can be issued to account holders within a Dapp added to the Ethereum Blockchain network.

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#2110
  1. What are the benefits of web 3.0 (decentralized internet)?
    Has the potential to move value creation from the centralized companies that dominate web 2.0 to the users and content creators of the new world based on blockchain.
  2. What is a token? a token is a smart contract that contains a map of account addresses and their balances.
  3. How do you create a token on Ethereum? They can be either fungible or non-fungible and are created by a smart contract
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#2111

  1. What are the benefits of web 3.0 (decentralized internet)?
    Incentivises early adopters to add value to the network as they can be compensated for their work.
    Small companies can compete with big companies.

  2. What is a token?
    A fungible or non fungible unit of value created on a blockchain (usually Ethereum). Fungible means tokens are of equal value and non-fungible tokens are tokens of different value (usually used in gaming)

  3. How do you create a token on Ethereum?
    Tokens are created through a Smart Contract standard (such as ERC20) to describe it’s characteristics and parameters.

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