Homework: Web3.0 and Tokens

Ethereum 101
#2615

Web 3.0 - decentralization of the web allows individuals to earn instead of just big companies.
Token is a Dapp running on ETH (or DOT, or ADA …)
Create token on ETH using smart contracts.

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#2616

  • What are the benefits of web 3.0 (decentralized internet)?
    -The benefits of Web 3.0 are the exchange of power to participants (peer to peer) on the protocol rather than a third party controlling sensitive data, there will be more opportunities for incentivized business models that will allow users to earn tokens through participation and due to inflation the value of the tokens will go up with time as more users become familiar and participate.

  • What is a token?
    -A token is a digital asset or a type of currency built on/using a smart contract platform.

  • How do you create a token on Ethereum?
    -A token can be built by writing a smart contract which is then deployed on the ethereum blockchain using a certain standard such as ERC20. you will have to state the # of total supply, how many in circulation, create a symbol, a token name as well as a three or four letter abbreviation, and how many decimal places it will have.

2 Likes
#2617

  1. With the ability to attribute a token to an application, it becomes possible to reward early users and encourage adoption from more users.

  2. A token is a fungible (ERC20) or non fungible (EFT) asset on Ethereum (or other blockchain) that defines the value of an application (smart contract) created on the blockchain.

  3. A token is created with code, first with the creation of a smart contract.

1 Like
#2618

  1. There will be economic value in the web and therefore it makes sense to be an early adopter to small businesses and because of that we can take down the giants!

  2. A token is an fungible or non fungible asset build on top of the Ethereum network

  3. By writing a smart contract or a dapp with simple coding.

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#2619
  1. Provides incentive for the early worms( people who use it first) and there is no middleman which means there is an increased peer to peer interaction.
  2. A token is a fungible or non fungible asset on a digital level.
  3. A token is created by building on the etherium baseline. It is a smart contract that represents its own cryptocurrency.
1 Like
#2620
  1. Underlying protocols will benefit from their value unlike http (web2.0). Google & Facebook etc. will have a harder time keeping their monopoly.
  2. Can be fungible (identical) or non fungible and is created on top of an existing blockchain. Like ethereum hosts a bunch of tokens on their network.
  3. Through Smart contracts written by Standards like ERC20(fungible) or ERC233 (nonfungible)
1 Like
#2621
  1. What are the benefits of web 3.0 (decentralized internet)?

The main benefit is the way value can be captured and distributed using this concept. This enables users to actually benefit from there contribution to the digital world instead of their profits being collected by a central party (e.g. Google or Facebook)

  1. What is a token?

A token is abstraction that can be created on a blockchain to represent a notion of value. This is a digital asset that is programmable in some cases and not in others. That is fungible in some cases and not in others. It is a means to reach the premise of a true decentralized internet.

  1. How do you create a token on Ethereum? Tokens are created by using one of the available tokenstandards for Ethereum. Then you’ll need to write Smart Contracts in order to actualy result in the distribution of tokens and the implementation of use cases for the created tokens and its users.
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#2622

  1. One benefit is that the value added will be absorbed by the protocols and not only by the applications (dapps will need to have ETH in order to pay for gas fees). Also, web 3.0 allows for smaller companies to compete with larger/established companies by incentivizing early adopters with token rewards for example;

  2. A token is cryptocurrency/crypto asset that represents some Dapp built on top of a smart contract platform (ethereum, EOS, Polkadot)

  3. A token can be created by a smart contract.

1 Like
#2623
  1. Transparency, skip middlemen, able to get rewarded for your metadata
  2. A smart contract on top of a blockchain in form of a tokencoin
  3. Write a smart contract with ERC20, ERC721, ect.
1 Like
#2624

What are the benefits of web 3.0 (decentralized internet)?
Users of dapps can be incentivized by inflation tokenomic. This takes dominance from big tech monopolies and gives control back to the people. The most value is captured on the protocol level like ETH.

What is a token?
As opposed to a coin (protocol) it is an extension (dapp) build upon a protocol like ETH, ADA, DOT… The individual changes that are being made on this dapps are tokenized.

How do you create a token on Ethereum?
By building, a smart contract with solidity and follow the ERC20 standard for fungible tokens, or ERC721/ERC1155 for non-fungible tokens

1 Like
#2625
  1. You get paid for your contributions, for example, Steemit if you like a video or write a review you get rewarded in steem tokens.
  2. A token is a cryptocurrency that was built on a blockchain network.
    3.You write a smart contract on the Eth Blockchain with the ERC20 Standard.
1 Like
#2626
  1. What are the benefits of web 3.0 (decentralized internet)?

Not one company can hold a monopoly, the protocol is monetized and available for everyone to build.

  1. What is a token?

A token is an asset created on a blockchain such as Eth

  1. How do you create a token on Ethereum?

By creating a smart contract

1 Like
#2627

  1. Web 3.0 helps smaller businesses compete with the bigger tech companies. It creates financial incentive to users to early adopt a web service or platform.

  2. A token is a fungible or non fungible digital asset created on blockchain platforms like Ethereum using smart contracts.

  3. You can create tokens on Ethereum using smart contracts.

1 Like
#2628
  1. What are the benefits of web 3.0 (decentralized internet)?
    -it gives newer companies an opportunity to grow fast by incentivizing early adopters.
  2. What is a token?
    -a token in a fungible or non fungible digital asset created on ETH or other blockchain
  3. How do you create a token on Ethereum?
    -using a smart contract- ERC20 for fungible and ERC721 or ERC1155 for non-fungible
1 Like
#2629
  1. What are the benefits of web 3.0 (decentralized internet)?

Web 3.0, unlike 1 and 2, is providing value. In the earlier web build outs all the value went to to applications running on the web. Web 3.0 is all about the Ethereum protocol providing the value.

  1. What is a token?

Tokens are created on existing blockchains.
DApps built on Ethereum have their own cryptocurrencies or “tokens”.

  1. How do you create a token on Ethereum?
    Presuming that you want to create a fungible token you would select the ERC-20 standard and write a smart contract using solidity.
1 Like
#2630
  1. What are the benefits of web 3.0 (decentralized internet)?
  • The benefits of using web 3.0 is a decentralized internet with monetary value at the protocol level. A user is rewarded for their activity on the web rather than big tech profiting.
  1. What is a token?
  • A token is a fungible or non fungible representation of value. In regards to Ethereum an ERC20 token is created on the Ethereum blockchain known as a decentralized application (Dapp) which allows for smart contracts.
  1. How do you create a token on Ethereum?
  • You create an Ethereum token with the ERC20 model using solidity a turing complete language.
1 Like
#2631

1- The benefits of Web 3.0 is that smaller players can attract new users by offering real financial rewards any time they use it not a big company as facebook , google .etc get paid.

2 - A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract ,

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

1 Like
#2632
  1. What are the benefits of web 3.0 (decentralized internet)?

Monetizing your own community to be early adopters.

  1. What is a token?

Token is digital asset tied to the issuer of said token that acts as permission and funding for transacting on a given network.

  1. How do you create a token on Ethereum?

Tokens are created by smart contracts to provide funding and capability within a project built on Ethereum (or other chains) to transact within the network.

1 Like
#2633
  1. It may help to distribute the value of the internet evenly. Nowdays, big companies just like facebook, google, amazon having a monopoly on the internet. In web 3.0 protocolls capture the value of the internet instead of big companies.
  2. A token represents a digital assest which recides on their blockchain.
  3. You can create a token on the ethereum network using the programming language solidity.
1 Like
#2634
  1. With web3.0 it is possible to transfer value through internet
  2. It is a cryptocurrency which is built basing on another bigger network for example Ethereum or Steem
  3. I will write smart contract which implement ERC-20 standard and deploy it ti ethereum network.
1 Like