Homework: Web3.0 and Tokens

[mhamour]

Homework on Web 3.0, and Tokens
1- Will help small companies to compete with a larger company.
2- Is a smart contract that is built on top of Ethereum.
3- By using ERC20 Standard.

[Konzaih]

1.) It generates new Opportunity. Protocols get a share of the Value and generate Money.
2.) A digital asset that is built ontop of Ethereum after a Token Standard. It is programmed money with a fixed supply that is handled through a Smart Contract.
3.) Created on Ethereum using a Smart Contract and Token Standards like like ERC20, ERC721, ERC1155.

[KK_Cheah]

1. What are the benefits of web 3.0 (decentralized internet)?
   Creator of protocol is rewarded along with user instead of accumulation of wealth by just the application companies. Early adopters are incentivize by earning more token early on, when users increase, the tokens become harder to earn/more scarce, generating supply/demand which drive the value of the token and the network upwards.

2. What is a token?
   A currency/asset of value created on a blockchain network which can have their own token economics/tokenomics

3. How do you create a token on Ethereum?
   Using a smart contract that generates token as a form of digital asset with its usage decided based on the application that it was built within

[andreypoe]

1. Internet 3.0 will help to cut the monopoly of the big companies that overtake the market. Also helps incentivize the protocol not only the apps.
2. A token is based on a smart contract that runs on an already established blockchain.
3. You can create a token by programing in solidity using some already established regulations like ERC20.

[Phillipe089]

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

Answer:
you can follow your own data and inspect the code behind the platforms you choose to use. You don’t need to trust a major corporation. In fact, there may be no corporation at all behind the platform you’re using

2. What is a token?

Answer:
Crypto tokens are a type of cryptocurrenc that represent an asset or specific use and reside on their blockchain. Created through an initial coin offering , crypto tokens are often used to raise funds for crowd sales

3. How do you create a token on Ethereum?

Answer:

1. Step 1: Contract code.
2. Step 2: Create Ethereum wallet with MetaMask.
3. Step 3: Get Ropsten Ethers.
4. Step 4: Edit the contract code.
5. Step 5: Deploy Contract Code on Remix.
6. Step 6: Publish and Verify Contract.
7. Step 7: Add token to your wallet.

[fullerideas]

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

The value stays with the protocols not just companies like google

2. What is a token?

a smart contract or dapp that runs on ethereum

3. How do you create a token on Ethereum?

By creating a smart contract on the ethereum network. Using standards as erc-20 erc-777 erc721

[Fetih]

1. It is decentralized, there are no monopoly’s means privacy, trustlessness

2. Token = is also a smart contract = and is also a Cryptocurrency. Can be a fungible or nonfungible token. Is build on a smart contract plattform like Ethreum.

3. With the standards; for fungible token it is ERC20.

[Nat-hathai]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
   To get the creator of the system economic rewards which unlike in the Web 2.0 where app creators are the ones making money not the creator of http or tcp.

2. What is a token?
   Token is the digital currency created on the smart contract to pay for the services of the applications

3. How do you create a token on Ethereum?
   By building an infrastructure on Ethereum network using smart contract with standards like ERC-20.

[Claire]

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

Web 3.0 will take the power of the internet away from the centralised giants that have dominated the last ten years in the web technology space, namely Google, Facebook etc.

2. What is a token?

A token is a digital asset built on a smart contract; it can operate as a currency within that smart contract.

3. How do you create a token on Ethereum?

You need to create your own smart contract on Ethereum and use the standard ERC20 for fungible tokens and ERC721/1155 for non-fungible tokens.

[Tristan_N]

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

• Web 3.0 allows the ‘little guy’ to compete with big tech companies like Facebook and Google. Early adopters are economically incentivized to use these new dapps as they are rewarded tokens. As dapps mature and user numbers increased, the value of those tokens also increase.

2. What is a token?

• A token is a digital asset (which can be fungible or non-fungible) that is developed on a smart contract platform.

3. How do you create a token on Ethereum?

• By creating your own smart contract on Ethereum and use the standard ERC20 for fungible tokens.

[Marcus_Hopkins]

@filip

• What are the benefits of web 3.0 (decentralized internet)?
  That early adopters gain most benefit … earn from base level protocol.
• What is a token?
  It is built on smart contract platform ETH, EOS, ADA… etc like DAI USDC, LINK, etc…
• How do you create a token on Ethereum?
  Using smart contracts on these platforms… WEB 3.0

[ajwagers]

1. Benefit of decentralized Web 3.0, especially in today’s censorship-happy environment, is that it will pull power from the few Big Tech companies controlling what people see and hear. It will give smaller companies/projects more reach. There will also be a financial component to Web 3.0 that is not in Web 2.0 thanks to cryptocurrency tech running in the background.

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

3. Tokens are created by smart contracts on the Ethereum network using the token standards developed to make this easier.

[Clica]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
   -The benefits of Web 3.0 is the dynamic in the system which creates a network effect and allows small startups and upcoming businesses to compete with large companies.
   Early adopters are incentivised , which leads to mass adoption and growth of the network , with growth we get more security through more validation and through the decentralised nature it becomes censorship resistant .

2. What is a token?
   -A token is smart contract based incentive that stores value , can be transferred from one person to another and or can be used as a reward for the interaction of a particular operation , they can be either Fungible or Non fungible.

3. How do you create a token on Ethereum?
   -To Create a Token we rely on the ethereum protocol through which creation of smartcontracts on the network is possible, the important standard of the ERC20 , ERC721 and ERC1155 on which the tokens are built specify the usage of the token.

[LioC]

1/ presently, web 2 has seen the whole value captured by a few giant and centralized applis (FB, WHATSAPP,…) and few value came to communications means like protocols, wire networks, internet providers. Web 3 allows to rebalance this partition: early adopters, like those in ethereum, keep a good part of value, as an infrastructure for current adopters developing lot of decentralized applis: when those will succeed, their token prices will increase, and then in using more ethereum, its own price will increase too.

2/ token is broadcasted by an in-progess developing appli against money (fiat or valued cryptocurrency) brought by investors on the internet : those are then investors in the " enterprise" appli, like shareholders bringing their fiat against shares of an enterprise during its IPO phase on a stock- exchange (but with no control on the enterprise).

3/ by developing a smart contract with standards like ERC20, - 721

[Matt_thetrader]

1. It will help compete with monopolies, in the sense that smaller companies that participate in early adoption will now have an edge over larger companies (as long as adoption accelerates). Web 3.0 is more transparent and more secure, also faster and cheaper.

2. A token is a smart contract build off a coin. Many cryptocurrency tokens are build off the Etherium coin. The token uses the coin, but the coin doesn’t necessarily use the token.

3. A token can be created on Etherium through the use of smart contracts.

[Shawn_Wollenberg]

1. What are the benefits of web 3.0 (decentralized internet)?
   Web 3.0 allows the users to be rewarded for the content that they provide. Web 3.0 removes the power from the large centralized companies.

2. What is a token? A token is a smart contract that is built on top of a larger platform but can serve as its own currency.

3. How do you create a token on Ethereum? Creating a smart contract using the ERC20 standardization.

[RyszardB]

@filip

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

You are able to compete with big centralised corporations and prevent censorship.

@filip

2. What is a token?

Token is a smart contract that represents its own cryptocurrency

@filip

3. How do you create a token on Ethereum?

By creating a smart contract on top of it

[I_Am_Tucky]

@filip

• What are the benefits of web 3.0 (decentralized internet)?
• What is a token?
• How do you create a token on Ethereum?

1. A decentralized internet takes away the need for middle men making business cheaper and allows for smaller business to compete with the giants. It also allows the early innovators and adopters to keep the value rather than big companies and applications taking it all.
2. A token is a tradable digital asset built onto a blockchain network, it is property not stock or currency.
3. A token can be created on ethereum by writing a smart contract using a standard token like the ERC20, ERC721, and ERC233

[Wolle]

1.) The benefits of web 3.0 are given in the decentralized standard protocol that everyone may use to build new applications and services on top. As an early adopter you only have to set up a token on your service and give the users f your service a reward for using it. The value of the token will increase and small companies were able to compete with large giant companies in the market.

2.) A token is a simple currency, which run on a smart contract and gives it a value. Tokens were used to create rewards for using the smart contracts.

3.) Tokens can be created by building a smart contract on the ETH standard such as ERC20 or others.

[Anthrax-the-clown]

1. A decentralized internet would be a great idea as it would give the opportunity for smaller companies and projects to compete with large online organizations
   Early adopters would get the benefit of cheaper assets at the beginning of any currency’s.life as it would grow in price over time. This would potentially allow people from poor backgrounds the opportunity to grow wealth and make their localities more affluent. Potentially changing the world for the better.

2. A token is a digital asset that is developed using a smart contract and that is built on a blockchain for example Cardanno ADA or Etherium ETH

3. Tokens can be created on the Ethereum blockchain using a smart contract.