Homework: Web3.0 and Tokens

Ethereum 101
#201

What are the benefits of web 3.0 (decentralized internet)?
It allows the value to be captured at the protocol level. It also allows the ability to incentivize users by rewarding them for certain actions such as likes or posting on content.

What is a token?
A token is a smart contract which controls the supply and properties of a digitized asset. It is deployed to an appropriate blockchain which ensures it is decentralized, available world wide and operates 24/7/365.

How do you create a token on Ethereum?
You create and deploy a smart contract which can issue and define the properties of an asset(s). In order to be compatible with the majority of already in place infrastructure it will be necessary to conform to the specification of ERC20 or the newer ERC777 standard.

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#202

What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 and decentralized Internet networks open opportunities at the protocol level. Democratized and monetized network effects are used to incentivize participation, ownership and innovation inclusively.

What is a token?
A token is a virtual unit of monetisation correlated to a network’s value.

How do you create a token on Ethereum?
A token is created as smart contract on the Ethereum network, usually conforming to one of the standards such as ERC20, ERC721 or ERC233.

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#203

1) What are the benefits of web 3.0 (decentralized internet)?
In web 2.0 the creator of the base layer such as http or tcp were not rewarded. Instead, the value was captured by the apps that used these platforms to grow [think Facebook, Twitter, WhatsApp…]Web 3.0 will be different because the base level creators will capture the value. Additionally, if tokens built on the base platform grow, then so will the value of the base platform.

2) What is a token?
A token is an asset built on a base layer platform such as Ethereum, EOS…

3) How do you create a token on Ethereum?
Tokens built on the Ethereum platform must follow the ERC-20 standard protocol if they’re fungible. Non fungible tokens [NFT’s] must follow the ERC-721 or ERC-1155 protocol…

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#204

Transparency, fewer middlemen, privacy, data ownership and sharing, incentivise creators.

A token is a currency that can work within a Dapp on the Ethereum network. It can be fungible or non fungible.

By using erc20.

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#205

  1. with WEB 3.0 we can create a completely different dynamic on the internet. The possibility arises that small startups can compete with large companies such as Facebook and Google. Everything has to do with the network effect. Early adopters are encouraged to use a new platform as they will be rewarded with tokens. The earlier you are invested the more tokens you can earn. As the networks value grows you will earn less tokens but the tokens will increase in value

  2. A token often does not have its own blockchain and runs on another blockchain that supports smart contracts and Dapps, such as that of Ethereum. Fungable tokens are all identical and have the same value. ERC20 are fungable tokens. NFT are non fungable tokens are used in games to buy accessories to use in the game

  3. A token can be created on Ethereum using a smart contract

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#206

  1. For example small companies are able to grow fast with the possabilities that comes with web 3.0. Comapnies are able to create whole eco systems that incentative people that are contributing to thesee companies and ther communitys.

  2. A token is a small peace of software that can be used for example as coins.

  3. You can programme your own smart contract on Ethereum and use that piece of software as base for token.

#207

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    The decentralized model will allow for more competition in the space and guard against only a handful of players dominating, such as Google or Facebook.

  2. What is a token?
    A token is a digital asset that can be built on top of a blockchain network. It can be fungible or non-fungible.

  3. How do you create a token on Ethereum?
    A token is created through a smart contract on the Ethereum network.

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#208

Answer:

  1. One of the benefits is that those small companies will have more leverage in competition with big companies like Goggle and Facebook. Users will have a monetary incentive to use Web 3.0 networks and promote them. Users get rewards for contributing to the network. Early adopters of the network will be incentivized exponentially more significant.
  2. A token is a monetary system of the Dapp builds on top of Ethereum.
  3. You create an ERC20 smart contract which you can use for design and deploying your token.
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#209
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Web 3.0 is beneficial because it allows small companies to compete with large companies on the internet.
  1. What is a token?
  • A token is a digital asset that can either be fungible or non fungible
  1. How do you create a token on Ethereum?
  • By using a smart contract.
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#210

1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 uses encrypted data stored on a network of computers, cutting off the need to rely on the service that centralized cloud giants have built on top of protocols such as HTTP or TCP. This means that the value can now be captured at the protocol level, making it easier to create and transfer value between parties (smaller companies and content creators). Early adopters are offered economic incentives (cheap tokens) in exchange for their participation. User’s privacy and data ownership are also leveraged with decentralization.

2. What is a token?
A token is a digital asset built on top of a given blockchain.

3. How do you create a token on Ethereum?
By writing an deploying a smart contract that follows the standards for the type of token you want to create.

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#211
  1. The value goes into the actual underlying protocol. It incentivizes early adoption by paying to the users for their engagement. It can break the monopoly of tech giants.
  2. A currency created by a smart contract running on the Ethereum platform.
  3. By running a smart contract on top of it.
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#212
  1. What are the benefits of web 3.0 (decentralized internet)?
  • You can build new dapps , with there own economics. The value lies on protocol level.
    Easy to create your own token on top of ex. Etherium plattform.
  1. What is a token?
  • A digital asset.
  1. How do you create a token on Ethereum?
  • With a smart contract, ERC20 token standards in Solidity language. All exchanges and wallets can support it.
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#213
  1. What are the benefits of web 3.0 (decentralized internet)?
    Transparency, Fewer Middlemen, Privacy, Data Ownership and Sharing, Incentivize Creators.
  2. What is a token?
    Token is a smart contract on a blockchain like Ethereum or TRON,…
  3. How do you create a token on Ethereum?
    Writing a smart contract on Ethereum.
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#214
  1. What are the benefits of web 3.0 (decentralized internet)?
  2. What is a token?
  3. How do you create a token on Ethereum?

1.Open , Decentralized, no monopol.
2. Its dapps, smart contracts build on Eth.
3. Using Erc20 standard on Etch to make a token a smart contract.

#215
  1. as an early adopter you get a lot of rewards (tokens). Because of the rewards (tokens) a lot of people like to join early so the network grows very fast. Also the user who to contribute get the reward not the platform.
  2. a token is a reward (coin) that represent a value in the network.
  3. a token is created with a smart contract
#216
  1. What are the benefits of web 3.0 (decentralized internet)? Value transfered from application (for example Google old) to protocol level (Ethereum new), improvement of competition, dapps, decentralization, new economical models etc.
  2. What is a token? Smart contracts build on top of platform like Ethereum. Coin as „first layer“, token „second layer“ (ERC20,ERC721). Possibility to create new economy, new currency, new models.
  3. How do you create a token on Ethereum? With programming of smart contract using some standard like ERC20 etc.
#217

  1. It decentralises the Internet so that everyone can capture the value instead of just the gigantic monopolies.

  2. It’s a fungible or non-fungible(NFT) digital asset which is created by a smart contract.

  3. You create a token by coding a smart contract using the erc20 or erc721 standard

#218

There is a huge difference between a token and a coin. Coins have their own blockchain, while tokens use an existing blockchain like Ethereum

#219
  • Incentive to earlier adopters helping small businesses grow. Money as a layer on the internet. Increased peer to peer no middle man on the internet.
  • A token is fungible or non fungible digital asset created on Ethereum or other block-chain networks.
  • A token is created on ethereum using some simple code. Simple tokens are not secure and more work has to be put in to make sure that a tokens code is well written.
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#220
  1. What are the benefits of web 3.0 (decentralized internet)?

  • Censorship resistant

  • Possibility to run decentralized apps (dapps)

  • New decentralized economy - easier for content creators and developers to get paid directly without intermediaries

  1. What is a token?
    Token is a cryptocurrency built on top of the blockchain. They usually have a more direct, niche like use case. There are fungible and non-fungible token, each has its own specific use.

  2. How do you create a token on Ethereum?
    Via smart contract, if it’s an ERC-20 token then you must follow certain standards.

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