Homework: Web3.0 and Tokens

Ethereum 101
#2112

  1. It has the potential to solve the giant monopoly. It will provide economy incentive to early adopters and support new small companies.

  2. A token is a crypocurrency which is bulid by a smart contract of Ethereum or other blockchain.

  3. A token can be bulit by coding a smart contract on Ethereum.

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#2113

  • What are the benefits of web 3.0 (decentralized internet)?
    It allows all (decentralized) participants, who participate to be incentivized equally.

  • What is a token?
    A digital asset (fungible or non-fungible) which is built onto of a BC platform, such as Ethereum

  • How do you create a token on Ethereum?
    By writing a SC, which is coded in accordance with a specific set of protocols such as ERC-20 for the Ethereum BC

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#2114
  1. that the protocols on which the new dapps are built actually also gains in value (ETH is needed to run all the smaller projects because they need Ether for gas, etc); the benefit is also that it won’t be run by a monopoly of big players but smaller players can economically incentivize their users to use their product
  2. a smart contract that runs on top of something like ETH or EOS or NEM
  3. by following the ERC20 standard
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#2115
  1. What are the benefits of web 3.0 (decentralized internet)?

Token economies tied to new social media
2. What is a token?
It is a way to reward the user for engaging with crypto currency such as on social media.
It is a currency you build on top of
3. How do you create a token on Ethereum?
You write it using ECR20 on top of Ethereum.

1 Like
#2116

What are the benefits of web 3.0 (decentralized internet)?
New and innovative marketing and economic concepts more level playing field for smaller companies
What is a token?
a unit of exchange made using smart contracts built on the ether coin
How do you create a token on Ethereum?
using smart contracts built on the ether coin

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#2117

Value will be stored in the protocols that make the internet decentralized. This allows networks to become decentralized by incentivizing the use of a network instead of how HTTP/TCP did not capture the value. With capitalizing on the value the protocols of Web 3.0 create, it allows for greater use of the Internet.

A token is a coin that is built on top of a cryptocurrency, (in this case, Ethereum). It uses Ether to pay for gas fees while still being independent for many of the use cases for the token.

By making a smart contract, you can create a ERC-20 token that runs on the Ethereum protocol. It requires you to write code in Solidity. It requires that you inherit 6 mandatory rules (totalSupply, balanceOf, transfer, transferFrom, approve, allowance).

1 Like
#2118

Web 3.0 and Token Answers

  1. Web 2.0 failed to capture the value at a protocol level instead, allowing for applications built on top of the web 2.0 protocol such as Google, and Facebook to capture all the value. With a decentralized internet (Web 3.0) most of the value is captured at the protocol level. You can create a scenario where early adoption is economically incentivized allowing for a startup internet company, for example, to compete with a giant such as Google.

  2. A token can be thought of as any cryptocurrency built on top of the Ethereum network.

  3. A token is a code or program built on top of the Ethereum network called they are called smart contracts and utilizing a token standard such as ERC20.

2 Likes
#2119

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web3.0 incentivizes the protocol, the technology and the people/community that supports that technology.

  2. What is a token?
    A token is the cryptocurrency of the smart contract built on top of Ethereum.

  3. How do you create a token on Ethereum?
    By making a smart contact that follows the ERC-20 standard.

1 Like
#2120
  1. It eliminates the need for centralization or trust on specific use cases of the web, probably of all specific use cases in the near future.
  2. A token can represent anything, It usually represents an ERC-20 coin,
  3. You code a smart contract and implement the ERC-20 interface.
1 Like
#2121

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

  • Because the applications are more decentralized, there is not one single point of failure. Instead of just a couple of very big companies having almost monopolies, everybody can compete here. Web 3.0 also allows for very easy transfer of value in terms of tokens and cryptocurrencies.

2. What is a token?

  • It is a digital representation of something that has value.

3. How do you create a token on Ethereum?

  • You write (or simply copy) some code in Solidity (for example a basic ERC20 token) and deploy this code to the Ethereum network (either to the mainnet, or to the testnet).
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#2122

What are the benefits of web 3.0 (decentralized internet)?
The value is not captured by the applications and remains with the users and protocol.

What is a token?
This is a smart contract which represents the value of an application / organisation. Pretty much like stock.

How do you create a token on Ethereum?
By deploying your own ERC20 token with it’s own supply and ticker.

1 Like
#2123

  1. What are the benefits of web 3.0 (decentralized internet)?
    . Value captures at the protocol level.
    . Early adoption of valuable projects incentivized.
    . Decentralized power of service/app providers (less powerful giants like Google).

  2. What is a token?
    It is a dapp(a SC) built on top of a BC like Ethereum.

  3. How do you create a token on Ethereum?
    By making a SC that implements a set of rules. Example : the erc20 standard.

1 Like
#2124
  1. You can directly invest in the plattform on wich the economy runs.
  2. Tokens are digital assets running on smart contract plattforms.
  3. On Ethereum there are some standards to create tokens. You have to write a smart contract and run it on the ethereum network.
2 Likes
#2125

  1. What are the benefits of web 3.0 (decentralized internet)?
    Allows for smaller companies to compete w/ bigger companies like Facebook. New users will have incentive to use the platform because they will be rewarded with tokens.

  2. What is a token?
    Is a cryptocurrency fungible or non-fungible asset that is developed using a smart contract.

  3. How do you create a token on Ethereum?
    Through ERC-20 fungible standard or ERC 721 and ERC 1155 non-fungible standard.

1 Like
#2126

  • What are the benefits of web 3.0 (decentralized internet)?
    As opposed to Web 2.0 where value was captured by internet giants only, in web3.0 value, and therefore monetary benefits, can be captured by all participants.

  • What is a token?
    It’s a digital asset or digital representation of something of value.

  • How do you create a token on Ethereum?
    By creating a smart contract meeting the ERC20 standard.

1 Like
#2127
  1. The benefits of web 3.0 are the protocols could gain more value instead of applications, small companies can gain more value and compete with large corps. It can also bring more data transparency, data security and more privacy.
  2. A token, either fungible or non-fungible digital asset, is value existing on a blockchain
  3. You can create a token by smart contracts on Ethereum with solidity
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#2128
  1. A benefit of a decentralized internet is an opportunity for new businesses and innovation.
  2. A token is a digital asset. An example is an ERC-20 token on Ethereum.
  3. A token is created with Solidity and a smart contract or smart contracts.
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#2129
  1. There is an incentive for early adopters to make money
  2. A token is a fungible or non fungible digital asset created on the Ethereum (or other network such as EOS,etc)
  3. A token is created using smart contracts on Ethereum
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#2130
  1. 3.0 has transparency and ability for smaller players to get involved and compete with large corporations
  2. a token is a form of currency based on a coin that has a smart contract to execute for transactions
  3. tokens are created via smart contracts
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#2131

Web 3.0 allows the platform creators to benefit financially. It also allows the creation of smart contracts that will likely benefit the creators of them and the platform on which they are created.

A token is the currency of a smart contract that is created on a platform such as ETH. Tokens can be fungible or nonfungible.

You create token on Ethereum using a smart contract the uses the ERC20, ERC720 or ERC1155 protocols.

1 Like