Homework: Web3.0 and Tokens

Ethereum 101
#2816

  • What are the benefits of web 3.0 (decentralized internet)?
    We can move away from an oligopoly in the social media space, where behemoth like google and facebook sell our data and instead can have decentralized internet where we reclaim our data/ are rewarded for sharing it.

  • What is a token?

A token os a crypto-currency on top of ethereum.

  • How do you create a token on Ethereum?
    Only requires a small snippet of code to bee run on tthe ethereym blockchain. However ideally certain standards such as ERC20 (fungible token) or ERC721 (non-fungible) are adhered to.
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#2817
  1. Web 3.0 allows for decentralized websites and apps to be created. It also allows for monetary value to be held and managed within the internet in a decentralized way.
  2. A token is an ERC-20 token contract executed on Ethereum.
  3. You can create a token by creating a smart contract on Ethereum.
1 Like
#2818
  1. What are the benefits of web 3.0 (decentralized internet)?

one of the benefits is that even a small company can compete with the big ones like google or Facebook and early adopters will be awarded.

  1. What is a token?

a digital currency that is built on top of an existing smart contract cryptocurrency and uses the same standard.

  1. How do you create a token on Ethereum?

by creating a smart contract with the same standard (ERC20) on top of Ethereum.

1 Like
#2819

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

The base protocoll like ETH holds the value. In Web 2.0 the value goes in the apps like Whats App, Facebook, Twitter,… In Web 3.0 users get incentivizes to use a Service which gives smaller companies a chance to compete with larger ones.

What is a token?

A dapp on a Blockchain like Ethereum.

How do you create a token on Ethereum?

U use a token via greating a smart contract.

1 Like
#2820

  1. What are the benefits of web 3.0 (decentralized internet)?
    Value captured on the protocol (as apposed to web 2.0 tcp ip - they rec’d no $$)
    Decentralized websites, dapps, smart contracts - increases accessibility for smaller companies/businesses and individuals as opposed to corporate giants (think FB and Google).

  2. What is a token?
    a dapp/currency built on ETH using a smart contract / ERC20 standards.

  3. How do you create a token on Ethereum?
    Smart contract using ERC20 standards.

1 Like
#2821

1. What are the benefits of web 3.0 (decentralized internet)?
Is a new opportunity for the startups to grow up without competing in a monopoly network like web2.0.

2. What is a token?
Is a smart contract in the etherum network, it could be fungible or not based on what will be used in the future.

3. How do you create a token on Ethereum
A fungible token following the ERC-20 protocol
A Non-Fungible token following the ERC- 721 OR ERC1155 protocol.

1 Like
#2822

  1. What are the benefits of web 3.0 (decentralized internet)?
    The value created is shared between all stakeholders e.g. the app providers (or Dapp providers), the underlying network (Ethererum) and those that are relied upon to keep it running and secure (miners) – it creates new and innovative incentive models.

  2. What is a token?
    A token is something (fungible or otherwise) that sits on top of the Ethereum (or other smart chain) platform. It can be designed, sold, traded etc.

  3. How do you create a token on Ethereum?
    Tokens are created in Solidity and must meet the ERC20 (fungible) or nunfungible (ERC721 or 1155) standards. The token can be published to a TestNet (e.g. using Solidiy remix compiler) then a MainNet.

1 Like
#2823
  1. Ownership of information and data, elimination of centralisation
  2. Smart contract running on ETH network
  3. By creating smart contract
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#2824

  1. What are the benefits of web 3.0 (decentralized internet)? - Value is captured in the protocol. web 3.0 also introduces network effects to compete with giant companies by providing economic incentives to users and encourage early adopters.

  2. What is a token? A token provides value for a cryptocurrency application and is used as a medium of exchange between users

  3. How do you create a token on Ethereum?Building a dapp on eth

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#2825
  1. Giving smaller companies a chance to compete with the big dogs, Facebook, Google etc. Allowing better technologies to develop. Privacy, incentives/rewards.
  2. Its a programmable digital asset created on a block chain connected to a coin.
  3. By using the ERC20 standard and create a smart contract.
1 Like
#2826
  1. No concentration in huge companies, more distributed wealth, value is captures at the protocol level and people are incentivized to be early adopters.
  2. A token is a smart contract built on top of a base protocol (eg Ethereum) that defines a specific use-case/economy.
  3. Buy programming and deploying a smart contract using a language that can be compiled in Ethereum bytecode (Solidity as of the time of writing).
1 Like
#2827

Answers for Homework on Web 3.0, and Tokens:

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

Web 3.0 would facilitate more competition with the current big tech companies whose influence is very overreaching. Their wealth gives them a huge advantage over smaller companies and services who lack the capital, resources, and reputation to compete with them. A more decentralized web could lead to the creation of platforms and services that are not based on “walled garden schemes”. By creating tokens and rewarding early adopters, smaller tech companies could incentivize content creators and content consumers alike to migrate over to a new platform despite the initial drawbacks.

2. What is a token?

A token is a digital asset built within the Ethereum ecosystem that can fulfill different use cases. Tokens can function like casino chips, in-store credit, collectible items, reward points, etc.

3. How do you create a token on Ethereum?

Using a smart contract programming language like Solidity and by adopting a ERC token standard, anyone can quickly and easily develop a token for the Ethereum blockchain.

1 Like
#2828

  1. What are the benefits of web 3.0 (decentralized internet)?
    The benefits of web 3.0;
    Better connectivity of online data through the semantic web,
    More efficient searching,
    Better marketing.
    Effective communication.
    A new way of human interaction.

  2. What is a token?
    A token is a kind of smart contract that operates on the Ethereum blockchain . It can be a fungible token or a non fungible token.

  3. How do you create a token on Ethereum?
    Firstly you will need to decide what you want your token to be or what you want it to do. You will use the ERC20 blockchain standards and code the contract, test it on the TestNet, when satisfied you will have the the source code verified. Once verified you get it on the main net and in turn verified on Etherscan.

1 Like
#2829
  1. The most important is that a decentralized internet would prevent censorship. It will also give opportunities to smaller companies to brake the monopolies.
  2. A token is a digital asset that is created in a blockchain. All coins are tokens, but not all tokens are coins. Coins are native tokens of a certain blockchain while tokens can be created in a blockchain which already has a native coin.
  3. A token is created via a smart contract.
2 Likes
#2830

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

  • Some benefits of Web 3.0 include investment in the underlying protocols, with TCP or HTTPS, anyone who invested in those didn’t capture any value, the value goes to the apps which use TCP and HTTPS like facebook.

2. What is a token?

  • A token is a fungible or non fungible cryptocurrency that is minted by a smart contract, and can be used as way to incentive the use of a dapp.

3. How do you create a token on Ethereum?

  • Tokens are created using smart contract standards like ERC-20, ERC-721, ERC-1155
1 Like
#2831

There are many benefits to the Web 3.0. It allows for better competition with big internet giants such as Facebook, Google etc. People can be economically incentivised to join new networks. It gives the power back to the people and takes it away from big companies who take all the profits and use our data.
It also allows anyone, anywhere in the world with an internet connection to be able to partake in financial services that they otherwise wouldn’t of had access to.

A token is a smart contract deployed on the Ethereum blockchain (or other blockchains that allow smart contracts. These tokens can be either fungible or non-fungible. These Ethereum based tokens have standards such as ERC20 (fungible), ERC721 & ERC1155 (non-fungible).

You would have to write a smart contract with the appropriate functions that are set by the ERC20 standard or ERC721, ERC1155 for non-fungible tokens.

2 Likes
#2832

  1. One benefit of a decentralized internet (web 3.0) is that smaller companies can compete with giant corporations like Google and Facebook. Another benefit is that early adopters are incentivized to use and promote the new DAPP by being rewarded with a higher number of tokens early, which will gain in value as adoption increases.

  2. A token is a digital asset that is created by smart contracts using the Ethereum, EOS, etc. networks.

  3. A token is created on Ethereum by creating a smart contract using an ERC standard.

2 Likes
#2833
  1. What are the benefits of web 3.0 (decentralized internet)?
    That it allows everyone to participate and get rewards, not as right now that few big companies have the monopoly in web 2.0.
    Also in block chain technology the protocol level is where most of the value is captured and users by investing in the protocol level indirectly invest on everything else built on top of it.
  2. What is a token?
    It is a programable digital asset, that can be fungible or non fungigle
  3. How do you create a token on Ethereum?
    In theory, you can program it using solidity. But as it is better for tokens to use standards they are usually programed under the ERC20 standard which makes them interoperate and able to integrate with eachother.
2 Likes
#2834
  1. What are the benefits of web 3.0 (decentralized internet)?
    economic incentive for participation bc value is transfered in the protocol where facebook, etc… capture all value. no middlmen, trustless, and unmutable
  2. What is a token?
    A smart contract built on etherium
  3. How do you create a token on Ethereum?
    write a smartcontract using erc-20 standard in solidity.
1 Like
#2835
  • What are the benefits of web 3.0 (decentralized internet)?
  • What is a token?
  • How do you create a token on Ethereum?

  1. incentives for users and of course the application creator and protocol creator.
    The more fairly distributed the incentives there are for everyone in the network, the more it will propel adoption. Small companies can compete with companies which are already well established, if they have applications that benefits everyone.

  2. A coin created on top of a protocol, for example ENJ coin which was created on top of ethereum protocol . We called those coins Tokens. These coins can be bought by users for various reason, value inflation or application execution, etc.

  3. Using smart contract on ethereum blockchain.

1 Like