Homework: Web3.0 and Tokens

Ethereum 101
#2454

  1. it create value on the protocol that we use instead of create value on a company which can create a monopol

  2. a token is created when you built on an existing platform like Etherium

  3. You use a standard for the smart contract as ERC-20, ERC-1155 or ERC 721

1 Like
#2455
  1. What are the benefits of web 3.0 (decentralized internet)?

While the protocols of Web 2.0 (https, TCP/IP, etc.) didn’t offer monetary benefits to early adopters, Web 3.0 will offer those early investors or adopters endless benefits, including receiving initial tokens that will increase in value as the business grows and time passes. This will allow any business to compete against bigger corporations such as Facebook or Google.

  1. What is a token?

Tokens are mainly representations of assets or goods that are fungible and interchangeable for commodities, services, other cryptocurrencies, etc. Their creation is made possible through a smart contract. Token creators decide how their token interacts with their business as well as how members or investors will interact with it.

Tokens run on top of a blockchain that allows the creation of dapps. Not their own blockchain.

  1. How do you create a token on Ethereum?

Through the creation of a smart contract. Tokens will represent whatever good or service the contract offers its users.

The token contract will be created following the ERC-20 standards. Also, tokens can be created using ERC-223, ERC-777, ERC-820.

2 Likes
#2456
  1. Web 3.0 decentralized internet would give a chance for small companies to compete with large companies and incentivize early adopters with larger amounts of tokens,
  2. A token is a fungible or non-fungible digital asset/cryptocurrency that is developed by creating a smart contract.
  3. Create tokens by developing a smart contract and coded to the specific type of token like ERC20, ERC233. ERC721 and others.
2 Likes
#2457

  1. The benefit of Web 3.0 is having the ability to spread value among decentralized platforms across the internet.

  2. A token gives value to decentralized applications and incentivizes people to use them.

  3. You can create a token on the Ethereum platform by creating a decentralized application on top of it, and minting ERC20 tokens for that application.

1 Like
#2458
  1. Web3.0 is decentralized platforms where value is generated at the protocol level instead of at the app level.
  2. A token is fungible or non-fungible asset created by a Smart Contract as a store of value.
  3. A token is created by writing Smart Contracts that belong to certain standard such as ERC20, ERC721, and ERC233.
1 Like
#2459
  1. Provide new incentives to earlier adopters. It can let the user dominate the space not the monopoly itself only.
  2. Token is a symbol to represent a valuable thing in the blockchain network. It has some of the same properties as the Ethereum Token Ether.
  3. We can create a Token on the Ethereum network by creatign a token smart contract which describe the rule of a token. And usually the standard of it should be ERC-20 or ERC-721 or some standard else.
2 Likes
#2460
  1. What are the benefits of web 3.0 (decentralized internet)?

Allow smaller companies to compete against the likes of titans such as Google and Facebook by awarding early adopters. Value of the platform will rise as usage on the platform grows.

  1. What is a token?

Ethereum is considered the coin. Token is deployed smart contract deployed on top of the ethereum platform.

  1. How do you create a token on Ethereum?

You write a smart contract and deploy it onto the node network.

1 Like
#2461

  1. Web 3.0 connects cpus in a trustless peer to peer way unlike the current web 2.0 which relies on intermediaries that take and sell our data. It also will speed up transaction time by cutting out clearing houses and adding an extra layer of transparency as annyone can verify

  2. A token is a crypto currency thatbis created on top of the ethereum network using the erc 20 standard. Tokens may be fungible or nft

  3. A token is simply a smart contract that is written, compiled to byte code, and read by an evm. As soon as you write excecutable code that get puts on the chain you oficially have a token

1 Like
#2462
  1. Decentralised internet allows for users to benefit more from the systems of the internet. Internet 2.0 was monopolised quickly by the giants of the tech industry. Internet 3.0 allows the scope for this economic to be flipped allowing users to benefit as well.
  2. A token is a coin that exists on a coins platform. For example if a currency runs on the Ethereum network you would call it a token, Ethereum being a coin.
  3. Tokens are created on Ethereum by the issuing of smart contracts, and these usually adhere to pre-designated standards such as ERC20 etc
1 Like
#2463

  1. What are the benefits of web 3.0 (decentralized internet)?
    It rewards users and aloud for small application to enter the space and capture value. Users are incentivised to use the platform by getting rewarded valuable tokens for example.

  2. What is a token?
    A token is created by an application to create funds and value. They are also use to run the applications itself.

  3. How do you create a token on Ethereum?
    All tokens on the Ethereum blockchain are created using the same functions and they are called ERC20 tokens.

1 Like
#2464

1. Web 3.0 will allow; ownership of personal data, more secure way of using the internet, peer to peer transactions, having dapps and smart contracts, bring back the value of protocols as being assets to benefit from, giving incentives to the users and start ups and a trustless platform where the community can interact with each other believe in the math and protocols.

2. A token is a form of digital asset that has it value depends on certain projects that offer services or physical objects or by supply or demand. tokens can be fungible assets like crypto currencies or non fungible assets like NFT.

3. tokens are created using different smart contracts standards such ERC-20 for fungible tokens and ERC-721 , ERC-1155 for non fungible tokens aka NFTs. those standards are used on the Ethereum blockchain.

1 Like
#2465
  1. participants are incentivised on a protocol level and as it is on a blockchain cannot be centrally controlled by any organisation. Also creates a fairer competition between the smaller players and the well known giants
  2. token is a smart contract built on a platform such as ETH that follows certain standards ERC-20(fungible), ERC- 721 & ERC-1155 non-fungible
  3. by using a code and adopting functions set as standard by i.e. ERC-20. Total supply has to be provided, how is the unit divisible and it’s name and symbol. Also how it is expressed to a ? decimal point
1 Like
#2466
  1. One of the benefits of a decentralized internet (Web 3.0) is that the protocol is monetized where as the internet protocol (http and tcp) are not monetized; the applications i.e. Google, Facebook, etc capture all the monetization in Web. 2.0.
  2. A token is a representation of a smart contract on top of the Ethereum platform.
  3. A token is created by using a smart contract that executes specific instructions on top of the Ethereum protocol. For the smart contract to perform the specific functions or instructions on the Ethereum protocol it needs gas and that gas is in the form of Ethereum.
1 Like
#2467
  1. The benefit of having many tokens before something is recognized and then coveted by others.
  2. A token is a digital asset that is developed through smart contracts.
  3. By developing a smart contract with the ERC20 standard.
1 Like
#2468

  • What are the benefits of web 3.0 (decentralized internet)?
    Decentralized Apps provide value to the Ethereum protocol. In Web 2.0 we’re dependent on a few commercial parties that dominate the complete web. They make money out of our work/content/privacy. Web 3.0 will cut out these middle men.

  • What is a token?
    A token is a currency built on top of a smart contract platform such as Ethereum.

  • How do you create a token on Ethereum?
    By programming a smart contract in Solidity using the ERC20 standard.

1 Like
#2469
  1. Ability to execute smart contracts that reward users for their engagement within the particular web
  2. Incentive used for transactions on a blockchain. It could be a smart contract running on Ethereum.
  3. By writing a smart contract or decentralized application (DApps) on the Ethereum platform.
1 Like
#2470

Homework on Web 3.0, and Tokens - Questions

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

Increased peer to peer interaction, no middle man. Early adopters are incentivized with tokens to help build a network or business.

  1. What is a token?

A token is a fungible or non fungible digital asset created on Ethereum or other fully programmable networks.

  1. How do you create a token on Ethereum?

By creating a smart contract and following a ERC token standard (ERC20,ERC721,ERC1155)

1 Like
#2471

  1. What are the benefits of web 3.0 (decentralized Internet)
    Basically Web 3.0 can be much more decentralized than previous versions of the Internet. It allows for the capturing of value on the internet as well as allowing platforms that can be much more community generated.

  2. Tokens are built on the Ethereum network by using smart contracts with a fixed supply.

  3. How do you create a token on Ehtereum?
    A token can be created by using a smart contract as well as using one of the standards available such as ERC20.

1 Like
#2472

  1. The earnings from the network or the protocol are given to the people that build an application on the protocol level. (ETH vs HTTP)

  2. A token is programmable money or digital asset, that can be created on a blockchain.

  3. By using the standards on ETH, anyone can create their own token, either Fungible or non-Fungible.

1 Like
#2473
  1. it creates new and early opportunities for early addopters,
  2. a token is fungible and built on a different coins blockchain
  3. by coding a token on the ethereum blockchain or other
1 Like