Homework: Web3.0 and Tokens

[vegas316]

1. Web 3.0 will allow for the creation of revenue generating protocols created and controlled by smart contracts (and their associated dapps). The hope is that it will provide a richer environment where many protocols can be leveraged together, and the protocols themselves are decentralized and not controlled by a select few, but governed by the owners of the assets.
2. A token is typically a mechanism created to control / govern, or pay for a smart contract / protocol.
3. Tokens can be created using a smart contract, and should implement one of the ERC token standards.

[sastre12]

1.Everyone can create and gain value, decentralized(no monopoly on freedom of speech)
No centralization in power( a few companies have the power.
2. A token is a smartcontract that runs on Ethereum.
3. You can create your own token by creating a smart contract on Ethereum using a standard such as ERC20, that runs as a subdepartement on the network.

[William_M]

1. What are the benefits of web 3.0 (decentralized internet)? you can incentivize new users to use your platform to grow.
2. What is a token? a digital asset used on a decentralized network like ERC20
3. How do you create a token on Ethereum? using a smart contract

[Albay]

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

It captures things that wasnt captured on previous WEBs plus as it says it is DECENTRALIZED.

2. What is a token?

Token is smart contract created on top of ETH platform.

3. How do you create a token on Ethereum?

Token is created using a ETH as a platform.

[stevenbowler]

1. What are the benefits of web 3.0 (decentralized internet)? Web 3.0 will hopefully reduce the centralized control and influence of the big tech companies.
2. What is a token? A token is an ERC20 smart contract that is programmed to provide an entire environment for trustless interchange between two parties in a specific use-case, for example, like buying a book or a house.
3. How do you create a token on Ethereum? By following the ERC20 standard.

[shonesto]

• What are the benefits of web 3.0 (decentralized internet)?
  There is no middle man just peer to peer
• What is a token?
  A coin that contains different values
• How do you create a token on Ethereum?
  You can create a smart contract in solidity code using the ecr 20 standard

[abi]

1. it creates incentives for new business to attract uses (rewarding early adopters), helping them establish themselves against existing incumbants with large user bases. it can also be decentralised and permissionless.
2. a token (fungible or not) is created as a smart contract on ethereum, suing the ERC20 (for funcgible tokens) standard. it inherits basic functions from ethereum, such as totalSupply(), transfer(), etc.
3. see 2

[gcradduck]

1. What are the benefits of web 3.0 (decentralized internet)?
   Decentralization itself is possibly the greatest benefit, in that it obviates and neuters central authorities, mitigates or eliminates coercion and provides for a truly free market.
   Similarly, as Web 2.0 has incentivized the largest centralized entities (be they corporations or state actors), Web 3.0 can server to incentivize the actual user, and, as is the nature of a truly free market,
   tends to create a space of greater voluntary coordination while eliminating coercion.

2. What is a token?
   A token is a smart contract representing its own cryptocurrency, often built atop an existing network (eg, Ethereum).

3. How do you create a token on Ethereum?
   To create a token on Ethereum can be as simple as creating a contract that implements the ERC20 standard (presumably with a distinct Name and Symbol, though it seems this is not an actual requirement). Deploying this contract onto the Ethereum network introduces the new token into the ecosystem.

[Kevko]

1. What are the benefits of web 3.0 (decentralized internet)?
   There is not much of a monopoly

2. What is a token?
   A currency created on Ethereum or other blockchain networks such as Polkadot, Cardano etc.

3. How do you create a token on Ethereum?
   Tokens are created by writing a smart contract.

[freshmattybe]

A Web 3.0 economy enables the creation of a token and an economic model around the token that runs on a decentralized network.

A token is a smart contract that holds accounts and balances of whatever that token represents, and can transfer balances between accounts.

You create a token by writing a smart contract that conforms to ERC20 standard. A token is a Token Contract deployed on the ethereum blockchain.

[Pineapple]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
   Because it’s decentralized, there is democratisation meaning you can get paid for your data and for the posts you write for example, on Steemit. But also the value is captured on Ethereum blockchain this time as opposed to being captured on apps like Facebook, Google Search, etc… So this means you can more easily invest in the progress of Web 3.0 than you could for Web 2.0, where private (now public almost entirely on centralised exchanges) companies really captured all the value which protocols kicked off.

2. What is a token?
   Tokens are value that is created to be used for actions taken in applications and protocols. These tokens can be exchanged for value both monetary and in the form of running functions to execute some action.

3. How do you create a token on Ethereum?
   You follow the ERC20 standard for fungible and ERC721 or ERC1155 standards for NFTs. Then you build in other functions necessary to achieve what you want your token to do using Solidity to write smart contracts.

[kmony]

1. What are the benefits of web 3.0 (decentralized internet)?
   Transparency, immutability and trustless. No need for a third party. No censorship. Don’t have to worry about big tech taking your data and shopping it around.

2. What is a token?
   digital asset developed with smart contract protocols.

3. How do you create a token on Ethereum?
   Creating a smart contract through Solidity programming language on top of the ethereum blockchain. Based from the ERC-20 standard.

[evadauk]

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

Most of the value is captured at protocol level.
Early adopters get high rewards

2. What is a token?

Programmed assets that could be used as a reward in their project eco system etc

3. How do you create a token on Ethereum?

Deploy smart contract on Ethereum platform and programme its native ERC-20 standard token

[Markus_MK]

1. What are the benefits of web 3.0 (decentralized internet)?
Value and profits stay inside the network and don’t flow over to big centralized companies.
2. What is a token?
A token is a unit to work with inside a dapp or smart contract. Tokens are either fungible or non fungible.
3. How do you create a token on Ethereum?
Tokens can be created inside a smart contract running on the Ethereum blockchain.

[aperes]

1. The internet of value, the base layer that captures the value.
2. A currency-like representation of created by / tied to certain initiatives
3. You can create ERC20 or other Ethereum-based tokens by writing a dapp that generates tokens.

[lionayd]

1. What are the benefits of web 3.0 (decentralized internet)?
   Value can be captured at the protocol level. Besides that, uninterrupted service, access to information and ownership of data, no central point of control

2. What is a token?
   Token is a coin/asset that is created on top of another bigger blockchain for example ethereum, cardano.

3. How do you create a token on Ethereum?
   In a high level explanation you need to code the smart contract of the token and then deploy it to the blockchain using tools like for exmaple remix and metamask.

[jenell]

1. What are the benefits of web 3.0 (decentralized internet)? You will now have the centralized, de-centralized and DAPPS - there won’t be a small monopoly of those making money like on Web 2.0 such as Google and Facebook. Now that which runs things will be making money rather than just that which runs on top.

2. What is a token? A token is smart contract built on top of the ETH network or another network like ETH.

3. How do you create a token on Ethereum? You create a smart contract ERC20 token with their standards and protocols.

[vic21]

1. The Web 3.0 allows for a more competitive market by eliminating the power holds that large companies like Google and Amazon maintain. It allows for more incentivized content and for the elimination of intermediaries to increase costs.
2. A token is a digital asset built using smart contracts on a blockchain like Ethereum.
3. You can use the ERC 20 standard to create fungible tokens or the ERC 721 and ERC1155 to create nonfungible tokens.

[ChrisFREAM]

Homework 2/1/21 Web3.0 & Tokens

• What are the benefits of web 3.0 (decentralized internet)?
  Anything that cuts out the middleman, shady politicians, corrupt publicly traded companies, overpriced “service” providers etc., is a good thing and offers many benefits including better content, less out of pocket costs, niche economic models, faster speeds, better online experiences, etc.
• What is a token?
  A token is a non-native smart contract which operates on a blockchain network and represents a fungible or non-fungible programmable asset of value.
  *How do you create a token on Ethereum?
  Code a smart contract using ERC-20 standards and Solidity, run it through a compiler, then have the EVM execute the byte code on the ETH chain.
  https://blog.goodaudience.com/building-your-own-ethereum-based-ecr20-token-in-less-than-an-hour-d4d4c7a14b1e

[Caraenache_Catalin]

@Jshanks21

3.0 is more economic incentive for participants since value can be transferred easily between parties on the protocol level. Additionally, content will not be as easy to censor because it’s on the blockchain, so large entities or powerful organization cannot remove your content if it doesn’t match their ideals. It should also be more secure because users can access these sites and content with their wallet (private keys), which they hold, instead of a password, which is stored on a centralized database.

1. WEB 3.0 in the context of crypto will take the value a casual user adds to a platform and return it back in a form of incentive.
2. A token is a smart contract built on top of ETH.
3. By programming a smart contract.