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You get rewards by participating in the network instead of giving free information to big tech giant. There is no central authority who can shut you down or ban you has he please. it is your effort and the people time on you (like, comment, respond) who make your success. By getting money you incentives the early user to continue to be on your site, making content for more people to join and get their early token grow in value.
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It is a smart contract who act like a wallet, it send information, receive it and can check your balance, all this on a crypto platform like ethereum and bitcoin.
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You simply use code on the Ethereum platform.
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- What are the benefits of web 3.0 (decentralized internet)?
To compete with big corp, having no censorship and stimulating the use of new technologies
- What is a token?
A digital asset program on top of Ethereum or others blockchain
- How do you create a token on Ethereum?
Programming on top of Ethereum
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In Web3.0, the value is now captured on the protocol level, developers and users are rewarded. Also, in Web3.0, it accommodate many different and unique ecosystem built by different DAPPs/smart contracts/tokens.
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The cryptocurrencies that built on top of Ethereum blockchain are tokens
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A token on Ethereum is created by smart contract coded under ERC20 standard.
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Benefits of web 3.0 include:
Permissionless access, more inclusive
Trustless environment, in math and code we trust
Traceability, transparency
Smart contracts, more efficient and automated
Ethereum is a coin. Every other currency built on top of ethereum is a token.
You follow the ERC20 standard.
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- What are the benefits of web 3.0 (decentralized internet)?
- The utilization of tokens & decentralized smart contracts creates incentives for early adopters to a platform, program, dApp, etc. Whereas previously a centralized company (e.g. Google) would capture all the value in the public using their platform, dApps have the opportunity to drive the value back into the token upon which it was built (e.g. Ether), meaning users and/or early adopters can automatically reap the rewards of increased use. Value being captured at the protocol level of web 3.0 is democratizing, incentivizing, and equalizing.
- What is a token?
- A token is an asset created via Smart Contract that works on a larger blockchain. For example, UNI is an ERC-20 token that is built on the Ethereum network. UNI cannot be used to pay for gas fees (like Ether can), but can be used on the Uniswap exchange. UNI has different tokenomics than Ether as well as different uses.
- How do you create a token on Ethereum?
- One creates a token by writing a smart contract in Solidity to define the features of the token (e.g. max supply) and then executing the SC on the Ethereum blockchain. The easiest (and best way) to do so is utilizing the token standards that have been developed, like ERC-20 for fungible tokens, ERC-721 or ERC-1155 for non-fungible tokens.
Feeling like I have a high-level grasp of these concepts, but still not entirely certain I can articulate the technical benefits of web 3.0, more just the ideas. That is okay, still got time to learn!
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1. What are the benefits of web 3.0 (decentralized internet)?
This incentives new players to enter the space through early adoption advantage of low cost tokens, removes the monopolies large companies currently have on the internet, more privacy and peer to peer interactions without a middle man.
2. What is a token?
A digital asset which is built off of preexisting blockchain using the same programming code.
3. How do you create a token on Ethereum?
By creating a smart contract on ethereum
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The benefits are that there is opportunity for protocols to gain value instead of only the applications (Google, Facebook). Youâre also able to create your own cryptocurrency, economic model on platforms such as Ethereum and EOS to name a few.
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A token is fungible or non fungible digital asset created on Ethereum or other blockchain networks.
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A token can be created by implementing a smart contract using one of the token standards like ERC20, ERC721 and ERC233
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Privacy, no monopolies, incentives/opportunities to make money.
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A token can be fungible or non fungible meaning that all tokens can either have the same value or different. They are created on the ethereum network through a smart contract.
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Code a smart contract using Solidity and ERC 20 standard.
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1. What are the benefits of web 3.0 (decentralized internet)?
Power to the people! XD⌠Before, protocols where not worth anything and all the money was in companies using these protocols. With web 3.0 it is the other way around. Additionally incentives in form of cryptocurrencies attract early adopters to use the services and to contribute.
2. What is a token?
It is basically a smart contract on a blockchain that has itâs own cryptocurrency that is based on a certain standard. In case of Ethereum it is ERC-20. ETH is based on the same standard but it is considered a coin, not a token.
3. How do you create a token on Ethereum?
By creating a smart contract that defines the features of this very token. There are different standards. ERC-20 for fungible tokens, ERC-721 or ERC-1155 for non-fungible tokens
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1.The value is captured at the protocol level which creates opportunity for protocols to gain value instead of only the applications (Google, Facebook,Whattsapp). Youâre able to create your own dapps where no 3rd parties/middle man/central authority is involved(anti-monopoly,decentralisation, decreased censorship-power to the people!!!),
2.A token is a digital asset created by a smart contract that has been built on a protocol layer blockchain that allows it to hold and transfer value .It can be either fungible(all identical/same value tokens based on ERC20) or non fungible( ERC721/ERC1155, NFTâS like games with game items with different properties).
- On Ethereum you can deploy smart contracts (dapps)which actually represent their own cryptocurrencies(token).
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[quote=âfilip, post:1, topic:8447â]
- What are the benefits of web 3.0 (decentralized internet)?
transparency publicly verifiably digital ledger of transactions. fewer middlemen removes trust from the equation and provides the opportunity to actually earn benefits and keep more of your funds by not having to pay any central entity that usually syphons users funds for themselves - What is a token?
a smart contract that includes account addresses and their balances. token is a unit of balance which represents physical objects or another monetary value. - How do you create a token on Ethereum?
As a smart contract on ethereum
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What are the benefits of web 3.0 (decentralized internet)?
the benfits of the web 3.0 is incentiv for participants to earn from their activity in the net. -
What is a token?
A digital tradable asset that runs on top of a blockchain. -
How do you create a token on Ethereum?
by using asmart contract with ERC20 standard.
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What are the benefits of web 3.0 (decentralized internet)?
Bring the value on the protocol levels, equal opportunity for everyone to gain incentives, removing the monopoly of big corporations -
What is a token?
A digital asset that is built on top of Ethereum or other smart contract platforms -
How do you create a token on Ethereum?
By programming a smart contract on the Ethereum blockchain following a standard such as ERC20 (for fungible tokens) and ERC721 or ERC1155 (for non fungible tokens)
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- What are the benefits of web 3.0 (decentralized internet)?
- What is a token?
- How do you create a token on Ethereum?
A.1. The benefits of web 3.0 are:
- Ability for protocol developers to capture value
- Ability for early-adopter to be highly rewarded through mining activity
- Ability for websites to create their own economy
- Ability for small initiatives and companies to compete with giant corporations through the network effect
A.2. A token is a Smart Contract based on Ethereum protocol. Ethereum fungible tokens are ERC-20 standard protocol based. Ethereun non-fungible tokens are ERC-721 or ERC-1155 standard protocols based.
A.3. A token on Ethereum is created through the Smart Contract using coding protocols.
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Captures the value of protocol, decentralized, allows small fish to compete and early adapter are rewarded more.
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Crypto/Smart Contracts build on a block chain. Such as LINK on ETH or PAID on DOT.
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Via protocols - Solidity - ERC20/ERC721/ERC1155 code
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You can create your own crypto currency, your own economical model built on smart contract platforms. Users can gain financial value from them by contributing. The less users at the beginning, the bigger the slice of the pie the early adopters receive.
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A token is a fungible or non-fungible crypto currency conceived on top of ETHâs technical platform.
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A token can be created via a smart contract, which complies with ERC standards.
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- What are the benefits of web 3.0 (decentralized internet)?
- protocols and infrastructure has value (ETH has more value with each Dapp that is developed and the more users use it). This is not so with HTTP for example.
- for the end user: you are not used as a âproductâ by companies like FB or Google, but you are getting rewarded for engagement (providing content, etc âŚ)
- new economies and economic models arising
- What is a token?
- a smart contract implementing an standard (like ERC-20 or ERC-721) is a token
- How do you create a token on Ethereum?
- create a smart contract following an standard (ERC-20 for fungible token, ERC-721 for non-fungible tokens)
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What are the benefits of web 3.0 (decentralized internet)?
A:
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Ownership of Information or Data: end-users will have the complete ownership and control of their data and have the security of encryption. Information could then be shared on permission/need or case-by-case basis. As of today, large corporations like Facebook or Amazon collect data with a purpose that goes well beyond the intention of improving their services, they monetize this data with third parties leaving no income whatsoever to the users who generated it in first place.
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Elimination of a Central Point of Control: blockchains provide a trusted platform in which the data is fully encrypted, the rules are unbreakable, and the information is replicated on the nodes of the network. Hence, the intermediaries are eliminated from the equation. Corporations will no longer be in control of the user data. No Government or organisation will have the ability to kill services and sites, and no individual can control the identities of others.
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Permissionless: Anyone can create an address and interact with the blockchain network. The users will be not be restricted or discriminated basing on income, geography, political orientation, gender or a series of other demographical and sociological factors. The digital assets and wealth can be transferred efficiently, quickly, cross-border, anywhere globally.
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Uninterrupted Service: The suspension of account and denial of distributed services are reduced dramatically. Since there is no single point of failure, the likelyhood of service disruption will be minimal. The data is stored on the distributed nodes to ensure redundancy, and multiple backups will prevent seizure or server failure.
What is a token?
A: Tokens represent programmable assets or access rights, managed by a smart contract and an underlying distributed ledger. They are accessible only by the person who has the private key for that address and can only be signed using this private key.
How do you create a token on Ethereum?
A: A token can be created by implementing a smart contract. The common standards to create tokens are ERC20 (for fungible tokens) and ERC721 or ERC1155 (for non-fungible tokens)
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- Value can be captured by the users of the network, especially early adopters.
- A token is a programmable digital asset.
- Implement the ERC-20 standard.
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Benefits of Web 3.0 would include being able to expose smaller companies to potential new users with the application of incentives or financial rewards. In turn, any activity of the users would help define progress and help bridge the gap between quality of content and efficiency of use. All in all minimising monopoly of the space between the giant tech companies.
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Tokens are a type of cryptocurrency that represent an asset or specific use and are built on top of another blockchain like ethereum, neo or waves.
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Via solidity, you deploy a smart contract that follows the standards of ER20 (fungible tokens) or ERC721 and ERC1155 (non-fungible tokens).
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