Homework: Web3.0 and Tokens

Ethereum 101
#2474

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

  • Decentralized internet financially incentivises new users to use the platforms by offering tokens in reward for adding to/using the network. In Web2.0 user content is “owned” by the network and they make money from it.

  • Interoperability between dapps deployed on the same blockchain;

  • By removing the need for intermediaries (google facebook etc), who manage and provide many of the Web 2.0 services we use today, markets should become less dominated

What is a token? - A token is a unit of value or programmable asset/utility that is deployed as a part of a Dapp to create value. For example people would need hold Ether to use any smart contracts on Ethereum platform as there is a GAS cost to deploy them.

How do you create a token on Ethereum?

To create a token on Ethereum smart contacts are used and are written using a language called Solidity. Fungible tokens must use the ERC-20 standard, this allows for tokens from different ecosystems to have the same foundation and allows for better interoperability between Ethereum ecosystems.

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#2475
  1. It incentivized its participants to use its environment and program which then creates a network effect. It allows financial reward for token holders and participants in the network. More fair
  2. A token is a “native currency” of a program or a dapp. It is a digital, programmable asset
  3. By following the ERC-20 standards
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#2476
  1. Works seamlessly with new tech, protects data with strong encryption, works well with block chain tech and none centralized.
    2.A token provides access to something either on a temporary or permanent basis. Using standards set out.
  2. Using solidity code.
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#2477

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1. That anyone with a computer and internet connection can join the movement of DeFi .
2. It is a smart contract built on a platform such as eth. 
3. You create a smart contract most common known as a dapp on a platform such as eth
1 Like
#2478

  1. Web 3.0 is decentralized web where people own their data and can transfer money or something else with value P2P.

  2. Token is a digital asset that exists on a smart contract platform like Ethereum, Tron, Cardano(soon) etc… Can be fungible or non-fungible.

  3. You create them by creating a smart contract. It’s a good idea to comply with standards like ERC-20 for fungible tokens and ERC-721 or ERC-1155 for non-fungible tokens.

1 Like
#2479

Among many other benefits, like decentralization and trustlessness, Web 3.0 will introduce economical incentives to attract new users and allow them to monetize their time, as well as allow protocols to absorb part of the gains that went mostly to apps in Web 2.0 , thus having a broader distribution of the value created with its growth.

Tokens are coin-like smart contracts within blockchain networks that allow the monetization of protocols, time and other resources previously only monetizable by the central entities. THey are digital assets.

In order to create a token on Ethereum, you must create and deploy a smart contract following a standard like ERC20.

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#2480

  1. Monetizing the underlying protocols that dApps are built on allows incentives to be created for early adopters. Also allows for decentralized control away from just a handful of mega-corps for more democratic access.

  2. A token is a “sub-blockchain” running on larger platform network (Ethereum). A token itself is the unit of “currency” of that sub-blockchain.

  3. A token is created by adhering to one of the Ethereum token standards (ERC20, ERC721, etc…) which allows interoperability between the token chain and the Ethereum blockchain.

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#2481
  1. What are the benefits of web 3.0 (decentralized internet) are, that the availabe economin model means small startups can reward and motivate early adopters and so compete with huge, well established networks
  2. A token is a ‘virtual coin’ created with Smart Contracts, that doesn’t have its own Blockchain, but whose tokens can be converted to real ETH coins on the ETH Network
  3. You create a token on Ethereum using Smart Contracts
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#2482

  1. Captures value at the protocol level. Allows greater competition against tech giants.

  2. Token is a digital assest created on top of ethereum network.

  3. A smart contract creates a token.

1 Like
#2483

  1. Web 3.0 could potentially give new companies new tools to offer some innovative product and to compete with incumbents. Web 2.0 allows Netflix to beat Blockbuster. As far as attraction of early adopters who could potentially be incentivized to keep tokens and hope that the value of token will increase if the new business growth I don’t believe it is a point. Common people are waiting profit within a year usually, they are risk-averted and trustless in a long run. Remember early Google time? Who invested? Early adopters? No, VCs

  2. In general token is a hybrid financial instrument for niche economics, composing a means of payment, utility (access rights, discount for service, etc), security ( share, profit certificate, derivative, etc)

  3. Token smart contracts can be easily written over Etherium protocol.

1 Like
#2484
  1. The content creators are rewarded and allows for innovations as early adopters are incentivized with large returns if things are mass adopted.
  2. A token is a special smart contract that allows others to utilize the ethereum network for different functions.
  3. Create a smart contract (with the ERC20 standard) that creates utility for others.
1 Like
#2485

  1. Smaller companies can enter the market and they how their own economic system, tokens. They also provide value to the user by just using it and telling what is good, by providing feedback back to them what is good, not like FB or google, They are also independent so they have freedom for innovation, that at the same time allows them to compete with internet giants.

  2. Its is either fungible or non fungible digital asset that can be created on ETH chain using ERC20 standard

  3. You can create a smart contract which will be a token itself and be it own economy but it will have to comply with ERC20 standard

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#2486

  1. In my own opinion web 3.0 merges technology and economy with control.
    A situation where direct value reward is enabled that is both suppliers and users are incentivized.

  2. Tokens are digital assets created on Ethereum Network protocol. The are value added rewards for participating in the network.

  3. Token on Ethereum are created by smart contracts.

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#2487
  1. The value not just on applications, but on protocol.
    2: Token is a smart contract built on Eth
    3: by creating smart contract on ETH usings ERC20 standasts
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#2488

1:The value not just on applications, but on protocol.
2: Token is a smart contract built on Eth
3: by creating smart contract on ETH usings ERC20 standasts

1 Like
#2489

1:The value is gained not juts on applications, but on protocol.
2: Token is a smart contract built on Eth
3: by creating smart contract on ETH usings ERC20 standasts

1 Like
#2490
  1. The benefits of web 3.0 are vast and hard to quantify. First of all there is increased transparency, efficiency, trustlessness via verification. A decentralized internet gives opportunities for smaller companies to compete with the giants. Early adopters are always rewarded with a high number of tokens which increase in value and scarcity as time continues
  2. A token a cryptocurrency built upon another blockchain. Most tokens are as of now built upon the Ethereum blockchain under ERC-20 standard.
  3. To create a token on Ethereum you must write a smart contract.
1 Like
#2491
  1. the benefit is that includes value, the value is not transferred only to the apps that are created upon this ( decentralized internet) but also at the core elements of the web 3.0 itself.Something that web2.0 didn’t accomplish httpss for example.
  2. A token is a digital asset that created on top of the blockchain network.
  3. You can create a token by writing a little lines of code (smart contract) ,mainly in a use of a standard like ERC20,ERC1175
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#2492

  1. Web 3.0 gives more power to individuals and lessens the control big tech has on the internet. It gives more opportunities for individuals/smaller businesses to make money instead of the money being taken up by the Googles of the world.

  2. A token is a digital asset built on top of the Ethereum blockchain.

  3. By programming smart contracts according to the established Ethereum standards.

1 Like
#2493
  1. Give the opportunity for small companies to compete with the giants corporations. Give rewards to early adopters to incentivized to used.
  2. Is a cryptocurrency/asset (fungible or non fungible) based and developed using smart contracts.
  3. With a smart contract based on the ERC20 standard
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