Homework: Web3.0 and Tokens

Ethereum 101
#2776

1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 allows for users to have more sovereignty over their data and money while no longer needing a 3rd party for many things. Web 3.0 also allows for small companies and startups to compete with the massive companies of the modern web. There are many incredible investment opportunities because much of the value of these networks are captured at the protocol level, so those who get into the investments that relate to the main frameworks of the network will likely succeed.

2. What is a token?
A token is a type of cryptocurrency built on top of another blockchain. It is common to see Ethereum / Ether as an actual “coin” while the “coins” built upon it are tokens. On a deeper level, tokens are smart contract programs that follow the ERC20 token standard code.

3. How do you create a token on Ethereum?
To create a token on Ethereum you must write, compile, and launch a smart contract on the blockchain. To specifically create a token you must create an ERC20 smart contract and make sure to follow the standards.

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#2777
  1. Web 3.0 would bring decentralisation to the space. Users would have control over their own data and money (they will no longer need a third party). Everyone may use the decentralised standard protocol to build new application (dApps) and services on top. Web 3.0 would also allow startups and small companies to compete to other giant companies that have been untouchable such as Google, by making themselves be more valuable to become early adopters to a new innovation.
  2. A token is a cryptocurrency that is built on top of another blockchain. For instance, VET token built on Ethereum. Moreover, tokens are smart contract programs that follow the ERC20 token standard code. A token is also a programmable digital asset that can be either fungible or non fungible
  3. Tokens on ethereum can be created by writing and launching smart contracts following ERC20 standards.
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#2778
  1. What are the benefits of web 3.0 (decentralized internet)?

Small companies and start ups can now compete with giant corporations. Early adopters are incentives with more tokens cause they have less value at beginning.
Web 3.0 make token economys posable.

  1. What is a token?

A token can be non fungible or fungible with value.
ERC20 tokens can be created on top of Ethereum blockchain.

  1. How do you create a token on Ethereum?

A token can be created by making a smart contract on top of Ethereum.

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#2779

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

With web 3.0, the value is captured by the participants of the network (decentralized) instead of the applications (centralized). This creates economic incentive for decentralized applications (DApps) to be viable and for users to adopt them.

2. What is a token?

A token, as opposed to a coin, is created on top of an existing network that operates with smart contracts.

3. How do you create a token on Ethereum?

To create a token on Ethereum, you have to program and deploy a smart contract which will include a new token and its use case(s). The standard for fungible tokens is ERC20 on Ethereum.

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#2780
  1. web 3.0 also rewards people on the protocol level. Small companies can compete better with big companies by rewarding early adaptors.
  2. tokens are smart contracts build on top of the ethereum network.
  3. by writing a smart contract using Solidity and the ERC-20 standard.
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#2781
  1. What are the benefits of web 3.0 (decentralized internet)?

It captures value on the protocol level directly from users, whereas web2.0 's value is usurped by big application who have near monopoly.
This decentralizes collected data, providing more transparancy, security and allows for/enforce freeflow of information.

  1. What is a token?

A token is a unit of value tied to a smart contract that is build upon another blockchain.

  1. How do you create a token on Ethereum?

By creating a smart contract on top of the ethereum blockchain using ERC20 for fungible tokens or ERC721 o( or ERC1155) for Non Fungible Tokens

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#2782
  1. Web 3.0 captures value on a protocol level, and also allows users to capture the value they bring to Dapp’s built on web 3.0 (Hyperr, SteemIt).
  2. A token is a cryptocurrency built on top of another protocol. For example, Ethereum would be a “Coin”, while projects built on top of it are considered “Tokens” (ERC20, ERC1155, etc.)
  3. By creating a smart contract on top of Ethereum using one of the particular ERC# standards for your application.
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#2783
  1. Web 3.0 allows the possibility for a smaller platform to compete with the big tech platforms. Tokens are used to incentivize early participation for greater rewards compounded in the future.
  2. A token is a cryptocurrency made from a smart contract that is directly influenced in relation to ethereum.
  3. By creating a smart contract, and depending on the instructions and interactivity, it can in turn produce it’s own economy in the form of tokens.
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#2784
  1. Decentralized network with added incentives for early adopters
  2. A token is an asset created on on a blockchain network ie. eth
  3. A token is created in a smart contract
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#2785
  1. Gives the protocol value and can incetivise early adopters to use the network giving smaller companies the opportunity to compete with the larger companies.
  2. A token is a fungible or non-fungible asset created on top of a protocol using a smart contract.
  3. By using a ERC-20 standard smart contract you can create a token.
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#2786
  1. What are the benefits of web 3.0 (decentralized internet)? Allows the protocol supporting applications and user experiences to capture some of the value. And allows early adopters to also financially benefit from use of the product.
  2. What is a token? a token is the smart-contract equivalent to a block-chains coin. The smart contract/ Dapp can create a fungible (or NFT) asset for the users to use which give the user a specific action or benefit.
  3. How do you create a token on Ethereum? By writing a smart contract using Ethereum programming language (solidity) you can create a token on Ethereum by following the standards set out in ERC20, or similar ERC’s.
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#2787
  1. No internet giants to take all of the added value, no or less middle men witch leads to less cost for users and more profit for business.
  2. A digital asset that can be a currency on top of another coin (ETH in this case), or an NFT (non-fungible token - unique)
    3.By creating a smart contract in Solidity. There are standards such as ERC20, ERC721, ERC1155 etc, but you can also create them without using these standards.
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#2788
  1. What are the benefits of web 3.0 (decentralized internet)?

Helps small businesses to compete with big institutions.

  1. What is a token?

Token is fungible or non-fungible digital assest, made by using a smart contract.

  1. How do you create a token on Ethereum?

Via smart contract

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#2789

  1. Early adopters can capture value , because most of the value goes to the base protocols and not in the apps like in Internet. Also users can have an impact on the network.

  2. A token is the smart contracts / Dapps cryptocurrency.

  3. A token can be programmed in solidity and it needs a standard. The standard depends on the fungibility of the token.

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#2790
  1. What are the benefits of web 3.0 (decentralized internet)? Early adopters are incentivized to contribute to the network which gives the smaller companies the ability to compete with large ones.
  2. What is a token? The token is the cryptocurrency represented by a smart contracts built on an existing platform
  3. How do you create a token on Ethereum?
    by deploying a smart contract on the Ethereum blockchain following ERC20 standard
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#2791

1 Young company receive development funding from their users and spend on the use of rewards.
2 The token is created by a smart contract, fungible or non-fungible. On a block chain platform such as Ethereum, Cosmos, BSC
3 The token has a standard pattern in the Solidity programming language and is created in a smart contract.

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#2792

[quote=“filip, post:1, topic:8447”]

  • What are the benefits of web 3.0 (decentralized internet)? The chief benefit of Web 3.0 will be that the builders of the underlying protocols will be able to monetize the use of these protocols. This was not the case for Web ver 1.0 and 2.0
  • What is a token? A token is the unit of value for operation of the decentralized network or the conveyance of value
  • How do you create a token on Ethereum?

Ref: https://steemit.com/ethereum/@maxnachamkin/how-to-create-your-own-ethereum-token-in-an-hour-erc20-verified

  1. Decide what you want you token to be
  • The tokens name
  • The tokens symbol
  • The tokens decimal place
  • The number of tokens in circulation
  1. Code the contract
  2. Test the Token on the TestNet
  3. Verify the source code
  4. Deploy token on the Main Net
  5. Verify token on Etherscan
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#2793
  1. Benefits of web 3.0 include security, more options in terms of which applications you want to use, rewards for use, and decentralization.
  2. A token is used on eth, usually to support the function of a particular dapp.
  3. By building a layer 2 solution on eth and following the solidity code.
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#2794
  1. The benefit of web 3.0 is the ending of big data giants controlling our collective minds over what the intended use of what the internet was supposed to be back when it was invented and used commercially in the late 80’s and early 90’s.
  2. A typical token is created when enough users congregate and somehow come to a conclusion that ‘proof of work’ was done correctly on the blockchain or decentrailized app like that of ethereum.
  3. You use ethereum as a base and build up from there. After you created a Dapp on ethereum’s blockchain you can get with your commrads and create a token to be used for the decentralized application that you specify that it may be used by.
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#2795
  1. What are the benefits of web 3.0 (decentralized internet)?
    Allows small platforms the ability to compete with large companies, allows for easier fundraising for start-ups, builds stronger support and communities around projects since the community can be more involved with the development and are rewarded with financial gains.
  2. What is a token?
    A token is a platform built on top of a coin, using the coin’s language and ruleset.
  3. How do you create a token on Ethereum?
    You can create a token on Ethereum by building on the ERC20 standard.
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