Homework: Web3.0 and Tokens

Ethereum 101
#2334
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Ownership of one’s own data, no central point of control, access to information even more accessible from anywhere, uninterrupted service.
  1. What is a token?
  • A token within its ecosystem is a representation of something.
  1. How do you create a token on Ethereum?
  • Code must be created on a smart contract. Creating a wallet will then create ownership of the smart contract. Edit and then deploy contract code.
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#2335

  1. What are the benefits of web 3.0 (decentralized internet)?
    Competition vs the big corporations but in a strategy that will put them ahead technology-wise. The decentralised nature means that there are no central authorities making financial gains but it is more incentivised towards users and early adopters.

  2. What is a token?
    A unit of value built on top of a decentralised blockchain network. This is run by smart contracts that have been pre-agreed but cannot be changed. They are similar to traditional coins but are future proof for web3.0. Peers can use them to purchase or exchange goods and products or they can be earned through various activities such as gaming etc.

  3. How do you create a token on Ethereum?
    You can create a token using a smart contract. Anyone with the correct skills can do this but whether it is worth anything comes down to the value-add of the specific token.

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#2336

  1. The most compelling benefit of WEB 3.0 to me is that the value is shared with the user, than there is decentralization. Also web 3.0 gives opportunity for small developers to compete with giants like Facebook or Google.

  2. Token is a smart contract running on Ethereum like blockchain networks.

  3. You can create token utilising smart contracts using ERC20 (fungible) or other coding standard like ERC721 (non fungible) or ERC233 (non fungible).

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#2337

  1. What are the benefits of web 3.0 (decentralized internet)?
    Added value is captured at the protocol level instead of at/by the applications on WEB2.0. This way, value can now be captured by the network users and not just big companies. It also becomes easier for small companies to compete with the big companies as anyone can create an ERC20 token or DApp, and value is created on the network.

  2. What is a token?
    A digital asset that’s built on top of a blockchain.

  3. How do you create a token on Ethereum?
    By programming a Smart Contract based on the ERC20 standard.

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#2338

1: Web 3.0 gives us the opportunity to catch value at the protocol layer and incentivise early adoption. The democratizes barriers of entry and levels the playing field due to it’s censor free nature

2: A token is a coin that uses a standard on a protocol layer in an attempt to establish its own tokenonomy

3: By following the ERC20 or the ERC721 standard

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#2339
  1. What are the benefits of web3.0 (decentralized internet)?
    Right now, a few tech giants control a huge portion of the internet, and they earn money through you because you are the one who is making the content and engage people to spend more time on their platform. But on web3.0 you get rewards for making the content.
  2. What is a token?
    A token is a crypto currency built on Ethereum.
  3. How do you create a token on Ethereum?
    By smart contracts and the use of a standard for example ERC20 or ERC1155.
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#2340

  1. The monopoly will not exist anymore, there will be more transparency that may incentives more ethical behavior and minimize corruption to a degree. This is possible du to the fact of the economic incentives of being an early adopter, which not has been beneficial in Webb 2.0.

  2. It is a digital asset that are created on a blockchain that supports smart contract. (It can maybe be created as a hard fork in a ecosystem that does not supports smart contract)?

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

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#2341
  1. What are the benefits of web 3.0 (decentralized internet)? It lets users capture value from their content instead of giving it to big corporations. Also less censorship since central authorities will have less control.
  2. What is a token? A digital asset that runs on top of the blockchain network. Eth is a coin that runs on the ERC20 protocol on the etherum blockchain.
  3. How do you create a token on Ethereum? You can create a coin by making a smart contract the follows a certain standard like the ERC20 protocol.
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#2342
  1. transparency, fewer middlemen, privacy, incentivized platforms
  2. tokens are fungible currencies built on top of exiting blockchains
  3. by completing a smart contract using the open source code
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#2343
  1. What are the benefits of web 3.0 (decentralized internet)?

The benefits of web 3.0 are that the system of capturing value is decentralized, meaning that contributions to certain ecosystems by users can be rewarded, rather than the central owner of that ecosystem capturing all of the value of users’ contributions. A lot of the value is also captured by the protocol itself, such as in the case of the adoption of the Ethereum blockchain for Dapp development resulting in the increased value of Ether. This is another example of contributors to the ecosystem being rewarded directly, as miners who are securing the network are the ones receiving newly created Ether. Middlemen are eliminated and the smart contracts are unstoppable and trustless.

  1. What is a token?

A token is a cryptocurrency/digital asset that is built using a smart contract, which is then deployed on a blockchain network (such as Ethereum).

  1. How do you create a token on Ethereum?

You create tokens using smart contracts, and you build them according to certain standards depending on what type of token you want to create. For example, you create a fungible token meant to be used as cryptocurrency using the ERC20 standard, which allows ease of interaction/communication between your token, other tokens, wallets, exchanges, and the entire Ethereum ecosystem.

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#2344

  1. no giant companies like google getting all the income. peer to peer ownership of the protocols

  2. programmable digital asset or smart contract

  3. using the erc20 protocol

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#2345

  1. Web 3.0 will allow new and innovative companies to overcome the barriers to entry that currently keep giants such as google and FB firmly in control of traffic and user numbers in web 2.0. By incentivizing users with tokens, platforms on web 3.0 will be able to more easily gain early adopters. These user will eventually become the vanguard of a mass exodus from old sites.

  2. In the example of web 3.0, tokens are the units of digital value that are given to users as a reward for using a web 3.0 platform. In general, tokens are a unit of value that are generated for some purpose as designated by a DApp, where they are distributed through smart contracts that are powered by the Ethereum network.

  3. A token can be created on Ethereum by using smart contracts and one of the token standards.

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#2346

1 - No trust on central party/middle man, better democracy. Money on protocol layer, incentive to early adopters.
2 - Programmable digital asset(fungible or non fungible) developed using a smart contract(data entry)
3 - Can be created by implementing a smart contract using one of the token standards like ERC 20, ERC 721, ERC1155

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#2347
  1. Peer to peer commerce with no “middle-man” and transparency to prevent fraud.
  2. Token is a value asset for users of an smart contract to incentives and gain value for users. Not a coin necessarily like ETH. Can be fungible or NFT.
  3. Through smart contracts built off the ETH network utilizing token standards.
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#2348

  1. Fewer Middlemen, Privacy, Data Ownership, Economic Incentives, Unstoppable, Trustless

  2. Tokens is a cryptocurrency or digital asset that develops smart contracts on top of another blockchain.

  3. You can create a token on ethereum using there standard smart contracts (ERC-20, ERC-223,ERC-721- ERC-777)

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#2349
  1. What are the benefits of web 3.0 (decentralized internet)?

A) being an early adopter and being incentivised in playing your part with earning rewards

  1. What is a token?

A) a token is a smart contact , it can be used as a form of currency to represent a company

  1. How do you create a token on Ethereum?

A) solidity programming allows you create small executable smart contracts which a called tokens
These can have specific modifications to execute as per requirement

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#2350
  1. Value place on the network, incentives for early adopters against larger markets. decentralized content.
  2. A unique digital created with a smart contract.
    3.created with a smart contract using the token standards specified eg:ERC20
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#2351

  1. The revenues of large internet companies such as Google, Facebook etc in Web 2.0 will change so that users of the internet instead take part in these values in Web 3.0

  2. Tokens are coins in the currencies that are built as small applications / smart contracts on top of Ethereum

  3. You program a dapp

#2352
  1. I think the decentralized aspect itself can be a huge benefit, as well as token economy. According to this video it will also level the playing field. I’m not sure if I can see this yet, because I assume the giants will be on it as well. But lets see.
  2. An asset on a blockchain.
  3. With a smart contract
#2353

Homework on Web 3.0, and Tokens

  1. What are the benefits of web 3.0 (decentralized internet)?
    With Web 3.0 there should be more democracy in internet and everyone can build something without the middle man but instead by using the network and the blockchain ensuring security.

  2. What is a token?
    Tokens are digital representation of something that has value in a specific contest like for example a DAPP.

  3. How do you create a token on Ethereum?
    You can build a token based on Ethereum following the ERC20 standard in case of fungible tokens, or ERC721 and ERC1155 for NFT (non fungible tokens).

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