Homework: Web3.0 and Tokens

[Marie]

• What are the benefits of web 3.0 (decentralized internet)?
  DI will level the field for smaller companies and give access in a market that is monopolized by big corporations. No centralized control, no middleman, no manipulation. Free market at work.

• What is a token?
  Value on a blockchain. A programmable digital asset, aka smart contract. Can be either fungible or non-fungible.

• How do you create a token on Ethereum?
  Use ERC20 Standard to create smart contracts.

[stuart1066]

1.web 3.0 is an open economy allowing small companies to compete with big companies and the first adopters are incentivised being the first to use a programme,
2. Tokens are crypto assets built above a platform coin ( ETH & SwissBorg any many more)
3.you create a token via a Smart contract that follows the standard for the specific token you require to programme ( ERC-20)

[Zon14]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
It is now possible for everybody to earn money through the use of decentralized applications, instead of only the big companies. For example VID is a new decentralized social media platform where users get paid with VI-token (Value Income-token) for watching- and creating content.

2. What is a token?
Ethereum tokens are digital assets that are built on top of the Ethereum blockchain.

3. How do you create a token on Ethereum?
Tokens on Ethereum blockchain are programmed in a smart contract. Most often according to the ERC20 standard.

[2tijan7]

1. It gives an opportunity to small companies; it also financially incentivize early adopters.

2. It is a cryptocurrency; tokens can be fungible or non-fungible.

3. You can create it by creating a smart contract on the Ethereum network, using standards ERC20, ERC721, ERC1155.

[DanDD]

1. What are the benefits of web 3.0 (decentralized internet)?
   More functionality, DAPPS, able to capitalize of the value of the protocol as well as the application of it

2. What is a token?
   Similar to a currency/coin, but specific to an application that is run on the Ethereum blockchain

3. How do you create a token on Ethereum?
   A smart contract/application that runs on the Ethereum blockchain, consisting of standardized code and functions to create, process, and manage the Tokens.

[Madlearner]

[quote=“filip, post:1, topic:8447”]

• What are the benefits of web 3.0 (decentralized internet)?
  Financial freedom, more privacy, P2P eliminating the middleman and fair share for every user (everybody)
• What is a token?
  Unlike a coin, a token is a subdivision of a coin, the token is built on the given coin blockchain so is a product (project) of a coin.
• How do you create a token on Ethereum?
  -ETH wallet metamask
  -Ropsten Ethers
  -Edit contract
  -Deploy contract on remix
  -Publish and verify contract
  -Add token on metamask wallet
  But i still have to master it on the practice though!)

[Joao_Folhas]

1- It is possible for smaller companies to compete with major corporations, and the users gain with the adoption of that technologies
2- A token is a cryptocurrency that is developed using a smart contract that is deployed on top of a blockchain like Ethereum, EOS or Tron
3- A token is created by a smart contract written with ERC20 standard

[Mixas_3]

1. its decentralized, small new company’s will be able to compete with giant corporations
2. tokens are assets created on a smart contract platforms like ETH or EOS and represent they smart contract value
3. o token is creating by using smart contract and standards which are on platform.

[Dfogleman03]

1. ability to reward early adopters. Making information that people like, can verify, and are interested in, available to everyone. Information and money can be stifled in current web2.0 that will not be possible in Web 3.0.

2. a token is a currency created by the execution of a smart contract.

3. you create a token on ethereum by creating a smart contract following the erc-20 erc-721 or erc-1155 standard

[CryptoMatrix]

1. What are the benefits of web 3.0 (decentralized internet)?
   Web 3.0 is able to bring services and products to people and businesses with high added value.

2. What is a token?
   Token is mart contract on top of the Ethereum platform.

3. How do you create a token on Ethereum?
   A token can be created by implementing a smart contract using one of the Etherium standards ERC20, ERC 721, or ERC 1155.

[SkillTulli]

1. Web 3.0 succeeds where Web 1.0 and Web 2.0 failed. They managed to unite the world in one network but allowed too many differences in the intern. With Web 3.0 the world is united under one big decentralised infrastructure and this allows the creation of a new kind of economy.

2. A token is a cryptocurrency that is developed on top of a bigger platfom, like Ethereum.

3. A token is created by coding a smart contract on Ethereum blockchain and following the standards of the relative ERC rules.

[Victrix]

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

• Gives value to the protocol.
• Prevents monopolies.
• Users are incentivized.
• No need for middle man.

2. What is a token?
   A token is a digital asset that follows standards and that is built on a blockchain.

3. How do you create a token on Ethereum?
   By programming a smart contract following token standards (ERC-20 and others).

[Bartek]

1. Most of the value is captured at the protocol level. Opportunity for smaller business to compete with giants through incentives to earlier adopters by reward them for using the network.
2. A token is fungible (all the same) or non-fungible (NFT) digital assets or currency’s made on top of the main network such as Ethereum.
3. We create tokens by writing smart contracts in Solidity or other languages. To create a token that is compatible with wallets and exchanges we write a code with ERC20 standards.

[Anubis]

1. Firstly, Web 3.0 keeps most of the value at the protocol level, so there are no applications on Etherium that are worth more than etherium. Secondly - Niche economic models could be born giving more value to the early adopters/people that use in contrast to web 2.0 where all the economic value goes to monopolies.
2. A token is a currency used in a dapp. They could be fungible (identical to each other and built using ERC 20 or they could be non-fungible (unique) and built using ERC721.
3. Build a smart contract using the ERC20 standard.

[Furby]

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

• Allowing small businesses to grow faster by incentivizing early adopters financially. No middle man dictating what happens in the web and also money becoming a key factor.

2. What is a token?

• Fungible or NFT (non-fungible) asset created on the blockchain such as Ethereum.

3. How do you create a token on Ethereum?

• Coding on Solidity to build smart contracts and using the ERC-20 standard for easy adoption.

[Michael_McNeil]

Answers:

1. The benefits of web 3.0 (decentralized internet) includes the ability to build new application and economic models on the internet that are not controlled by large centralized (oligopolistic) organizations that extract all of the value. These new decentralized applications (daps) create unique economic incentives which encourage early adopters to participate and grow these networks;
2. A token is a digital currency built on top on an existing digital currency (i.e. “coin”) platform.
3. You create a token on Ethereum using a standard smart contact protocol (i.e. like ERC20) and by customized various parameters or tokenomics that make the token unique (i.e. total supply etc.)

[Randallcrum]

1. Benefits include decentralization of networks, meaning that individuals can recapture some of their control over their own content. Decentralization also makes trustless/automatically verifiable interactions possible, and increases transparency.

2. A token is a currency built on top of another coin’s protocol, such as the ERC20 protocol offered by Ethereum.

3. You could use Solidity and follow the ERC20 protocol to make a fungible token to deploy on an Ethereum node, or use the ERC Token Generator which was created by Vittorio Minacori.

[TomA]

1. What are the benefits of web 3.0 (decentralized internet)?
   Incentive for early adopters of the projects because the gain greater rewards for the added risks they take. But caution is required because of the many scam projects out their.
2. What is a token?
   A programmable digital asset that can represent various real world assets.
3. How do you create a token on Ethereum?
   By writing a smart contract that adheres to the ERC20 standard and uses the ether coin to pay for the gas required to operate the smart contract.

[Jill_Brewer]

1. Web 3.0 (decentralized internet) allows developers and users to capture value in a variety of ways, by creating smart contracts and Dapps, creating tokens, and building their own niche market. Users and early adapters can be incentivized to help with the company’s promotion and overall success.

2. A token is a unit of cryptocurrency representing assets in a particular company. Tokens are built on smart contract platforms, many using Ethereum.

3. Tokens can be created on Ethereum by programming a smart contract using ERC20.

[ZachGMiller]

1. Enabling peer to peer interactions without trusting a mediator/escrow. Incentivizing early adopters which can help free markets stay competitive (anti-monopoly).
2. Tokens are smart contracts or dapps that can be fungible or non-fungible and are built on Ethereum or other blockchain platforms.
3. By coding a smart contract using ERC20 standards.