Homework: Web3.0 and Tokens

Ethereum 101
#2876
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 enables ethereum network to capture the value from the dapps that are built on top of it. Both the network and dapps are decentralized hence are not subject to intermediaries and can compete with giant companies such as Google. Value is not locked to these giant companies alone and value is shared among the network, dapps and contributor of the token economies.
  2. What is a token?
    Token is programmable money from dapps that are built on Ethereum network.
  3. How do you create a token on Ethereum?
    To create a token on ethereum, you create a smart contract using the standard programming language in ethereum.
1 Like
#2877
  1. In Web 3.0, the value can be captured by the protocol, rather than by an application. This allows decentralized competition, making it possible for smaller companies to compete with large corporations.
  2. A token is a digital asset created by a smart contract built on the Ethereum (or other) network.
  3. Via a smart contract.
1 Like
#2878

1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 will act as a counter-balance to major tech monopolies, allowing for decentralized protocols to increase the opportunities for free speech (decentralized social network), new economic structures (trading NFTs), and increased security from cyber-attacks (decentralized data storage).

2. What is a token?
A token is a digital asset that is built on a particular blockchain and can be programmed into smart contracts.

3. How do you create a token on Ethereum?
Tokens are generated in smart contracts using token programming standards such as ERC20.

1 Like
#2879

  1. What are the benefits of web 3.0 (decentralized internet)? The benefit of web 3.0 is that all users of the decentralized internet can participate in capturing value for their contribution to the network. No longer will only central authorities like Facebook and Google will have a monopoly on being paid and rewarded for user engagement on the web 3.0 network.

  2. What is a token? A token either fungible or an NFT is a digital asset created on a smart contract platform meant to create monetary value.

  3. How do you create a token on Ethereum? You program on solidity a smart contract that creates an ERC-20 token or NFT.

1 Like
#2880

What are the benefits of web 3.0 (decentralized internet)
One of the benefits is it not being controlled by a few large companies.

What is a token?
It is a cryptocurrency that sits on top of a blockchain whereas conins are native to their blockchain

How do you create a token on Ethereum?
Following the ERC20 standard as a smart contract in Ethereum

1 Like
#2881

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

A: More value can be capture, by giving incentive to early-adopters and in this way the website grows more. In this way not only monopolies can increase in value, but everyone.

Q: What is a token?

A: A token is a smart contract created on top of Ethereum, programmed as its own cryptocurrency.

Q: How do you create a token on Ethereum?

A: By using some coding on top of Ethereum.

1 Like
#2882
  1. in web 3.0 the underlying protocols benefit more from the success of projects build on top. Furthermore, being an early adopter is incentivized through token gains and increasing token price with higher adoption
  2. a digital asset created by a dapp build on top of e.g. Ethereum. Tokens can either be fungible or non-fungible.
  3. using a smart contract based on the most common ERC standards e.g. ERC 20
1 Like
#2883

Advantages of Web 3.0 are immutability of data, no censorship through utilising blockchain tech. Smaller players can stay in the game through innovative economic models.

A token is a a digital asset created on a blockchain. Most tokens on the ethereum blockchain use the ECR 20 token standard .

Utilising the ECR20 token standard, writing a smart contract utilising the stand code functions

1 Like
#2884

1.) Protocols will be able to capture the value, meaning that the monopoly of tech giants like Google or Facebook will be stopped.
2.) Tokens are a form of currency, that is based on some kind of other value and uses a Smart Contract to handle the money itself. The Smart Contract is usually built on chains like Ethereum’s.
3.) You create a smart contract and use the ERC20 standard (or ERC721).

1 Like
#2885
  1. Web 3.0 (decentralized internet) allows for smaller companies to compete against larger companies in a monetized way. Users can have ownership of their data as opposed to data being owned by larger companies.
  2. A token is a smart contract built upon ERC20 or another blockchain.
  3. A token is created on Ethereum by purchasing Ethereum coins and using this coins to build smart contracts on top of it.
1 Like
#2886
  1. Web 3.0 gives the opportunity to build dapps that can potentially compete with big companies, incentivize users in a way that’s not possible without cryptocurrency, and provide transparency with blockchain technology.
  2. A token is a smart contract built on top of an existing cryptocurrency, which can be further categorized as either a fungible or non-fungible asset.
  3. By using token standards, one can easily create a token with a smart contract.
1 Like
#2887
  1. What are the benefits of web 3.0 (decentralized internet)?

Gives smaller companies the opportunity to grow, cuts out the middle man and allows money to flow peer-to-peer

  1. What is a token?

A token is a fungible or non-fungible unit of value written in the form of a smart contract ontop of another blockchain, Ethereum for example.

  1. How do you create a token on Ethereum?
    Deploying a smart contract that follows the standard of the token that you would like to create. ERC20, fungible - or ERC721, ERC1155 for non-fungible
1 Like
#2888

1- web 3.0 allows small companies to be able to compete with larger ones. It allows them to utilize the best parts of the blockchain and crypto to leverage both for monetary and communal gains.
2- tokens can be a nft or fungible created as a smart contract on a blockchain network. They can be used to create crypto currencies or even one of one pieces of art that are all seamlessly secure on a blockchain.
3- Creating a smart contract that follows either the erc20, erc1155 ect… standards.

1 Like
#2889

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 (decentralized internet) is expected to level the competitive playing field between big and small players in the market, allow more of the key players to gain the economic benefits and incentivize the early adopters of apps.

  2. What is a token?
    A token is a cryptocurrency asset that is built onto an existing block chain (like Ethereum block chain)

  3. How do you create a token on Ethereum?
    A token can be created on Ethereum by programing a smart contract

1 Like
#2890

1: Allows for tokens to be made on top of a mainnet. e.g. Ethereum.
2: Tokens are ethereum smart contracts as well as a website and server.
3: Using the smart contracts and using etheruem as gas fees to execute tasks.

1 Like
#2891

  1. Benefits of 3.0 web system is to incentivize smaller companies-individuals to build and innovate new projects which will initially bring in a large ROI.

  2. A token is a measure of value within a particular cryptocurrency, like a dollar within US currency.

  3. A token can be created through writing smart contracts using a token standard like erc20.

1 Like
#2892
  1. What are the benefits of web 3.0 (decentralized internet)?
    The benefits of web 3.0 is the economical incentivased system that allows smaller projects and retail user obtain economic value by using dapps
  2. What is a token?
    Its a digital asset created by a smart contract build on a blockchain such as ethereum.
  3. How do you create a token on Ethereum?
    Using solidity programing language and creating a smart contract
1 Like
#2893
  1. What are the benefits of web 3.0 (decentralized internet)?
  • with web 3.0 we have different websites on the internet that now can have their own cryptocurrency, their own economical model, they are built on Ethereum on EOS or some other smart contract platform we have a whole other dynamic on the internet because suddenly small companies can compete with giant corporations like Google. The more users join, the more of the value of the network goes up and the more it is interesting to use the network, basically, now you can have an economic incentive to incentivize people to be early adopters.
    We have decentralized websites and Dapps being developed.
  1. What is a token?
  • In general, a token is an object that represents something else, such as another object (either physical or virtual), or an abstract concept as, for example, a gift is sometimes referred to as a token of the giver’s esteem for the recipient. In computers, there are a number of types of tokens.
    A token can be created as a smart contract in Ethereum. Tokens in the Ethereum ecosystem can represent any fungible tradable good.
  1. How do you create a token on Ethereum?
  • We create a token on Ethereum when we write a smart contract in Solidity using the ERC20 standard
1 Like
#2894
  1. The benefits of web 3.0 are a based on its characterestics which are a bit similar to those of blockchain in general:
  • the websites and their services are open source, accessible to anyone
  • they are trustless and allow the participants to interact without the need of third party approval or authorisation
  • therefore they are also permissionless - anyone who wants to use or provide the services can do so and there is no need to be approved by a third party or central authority.

These features mean that there are incentives for participants who would be pushed out elsewhere to engage and get rewarded for that. Another similar feature is data decentralization which echoes the benefits of non-existing central single authority.

A huge benefit looking at today’s ad-hoc cencorship rules on largest websites is that the creators and participants of web 3.0 retain ownership of their content and it there is no third party that can decide to take the content down - therefore as long as the content is accepted by and deemed useful to others it would remain available and bring rewards to the content creator. Overall hopefully the benefits of web 3.0 would be a more fair internet space.

  1. A token can take a lot of forms materially and it is a representation of the value, state or meaning/content (even feeling) of something else or some other asset. E.g. a paper that represents someones access to free lunch at school; a trophy or a card that represents that a person has achieved something; a document that represents a persons ownership of some asset etc.
    In crypto a token represents a particular tradeable asset or utility/service which is created on an existing blockchain. Ethereum is the most common blockchain token platform.

  2. By getting acquainted with the Ethereum blockchain and its standards (e.g. ERC20), programming it and using some Ether to validate it.

2 Likes
#2895
  1. In web 2.0 the value accrued to the applications like Google, Facebook and Twitter, etc. No value accrued to the protocols (http). In Web 3.0, most of the value is accruing to the protocols (Ethereum).
  2. A token is built on top of a base protocol like Ethereum and can be a smart contract, a DAPP, or a coin.
  3. Tokens are written in code; the code is written into a smart contract and contains the logic, supply and distribution of tokens, cap on the number of tokens that can exist, etc.
1 Like