Homework: Web3.0 and Tokens

Ethereum 101
#3018

  1. The benefits of WEB3 are that they have real incentives for early adopters. As with tokens there are now real financial rewards for people to not only be motivated to participate in platforms in general, but especially in new projects as the newer the project is the higher the rewards will be with less competition. This system can help smaller projects reach up to the status of bigger tech giants. WEB3 also brings much more security and privacy than WEB2 as well as the removal of middle men for services as it is decentralized.

  2. A token is a digital asset that is built on a blockchain and is not the native currency of that blockchain. They are made through Smart contracts on chains such as ETH, TRX and ADA and can either be fungible or non-fungible. Which means every token can either be the same value and interchangeable or each token can have varying values.

  3. Tokens can be made through smart contracts on eligible chains such as the ones mentioned above through coding them using a token standard, which is a standard of how all tokens are coded. Some include ERC-20, TRX20, and more.

2 Likes
#3019
  1. What are the benefits of web 3.0 (decentralized internet)?
    Users are in charge of their data and can be financially rewarded rather than their data being controlled and used by large companies.
  2. What is a token?
    A token is a digital asset. It can be fungible or non fungible i.e. unique.
  3. How do you create a token on Ethereum?
    Smart contracts
2 Likes
#3020

  1. More people are able to build things and there is the incentive to be early adopters due to the potential economic gains of being early. This means that more competition will be present in the internet space, benefiting the users and the community.

  2. A token is a smart contract on ethereum which follows the ERC20 standard

  3. Write a smart contract using the ERC20 standard and deploying onto the ethereum network

1 Like
#3021

  1. It stops large corporations taking over the standard web platform. It will also incentivise users as it enables for rewards in the form of tokens to occur and creates opportunity for anyone.

  2. A token is a digital fungible or non-fungible currency created on the blockchain.

  3. By using smart contracts

1 Like
#3022

1)What are the benefits of web 3.0 (decentralized internet)?
It is transparent, without middle man, so you don’t give your data to someone=more privacy

2)What is a token?
It is a coin which is used by smart contract

3)How do you create a token on Ethereum?
You program a smart contract on ETH blockchain with ERC20 standard.

1 Like
#3023
  • What are the benefits of web 3.0 (decentralized internet)?
    it would give small companies a chance to compete with the larger ones. google fb etc. early adapters are incentivized to use a new platform as they are rewarded. user contribute to network will have a higher reward.
  • What is a token?
    A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (ethereum, EOS, Tron, etc.)
  • How do you create a token on Ethereum?

You use Ethereum as infrastructure, then it is recommended to use some kind of standard like ERC-20 or ERC-777 to be able to connect with common wallets and finally your token will be using gas which then will be converted into the ethereum to execute functions within the smart contract

1 Like
#3024
  1. Web 3.0 is a decentralized internet where the user could gain financial incentives for contributing to the network. Unlike the web 2.0 where the financial incentives are monopolized by giant company.
  2. Token is a crypto currency that’s developed on top of a blockchain, so it’s not a native currency of the blockchain (which is called coin).
  3. By creating a token using ERC-20 standard and deploy them on Ethereum network.
3 Likes
#3025
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Make it possible to “program money” and capture value on a protocol level, not only on application level
  1. What is a token?
  • A fungible or non-fungible digital asset created, by using smart contract
  1. How do you create a token on Ethereum?
  • Make a smart contract that programs the rules or the token
2 Likes
#3026

  1. Web 3.0 applications are built upon smart contracts that reward thise who add value (in the form of publishing articles, uploading videos, etc) with tokens tied to the respective smart contract. They are also censorship resistant, transparent, and all activity that takes on them is irreversable.

  2. A token is a cryptocurrency created for specific use cases on a smart contract.

  3. A token on the ethereum platform is created using the ERC20 and Solidity programming languages.

3 Likes
#3027
  1. What are the benefits of web 3.0 (decentralized internet)?

There is value in the protocols, allowing for a wider range of successful ventures, thus diminishing monopolies. All the other benefits that come with decentralization are available as well. Overall, it gives power back to the people and incentives honesty and deters corruption.

  1. What is a token?

A token is a cryptocurrency running on top of a protocol. For example, the Ethereum blockchain is a protocol and all the companies with smart contracts that have their own cryptocurrencies are tokens.

  1. How do you create a token on Ethereum?

By programming one with Solidity, using the ERC20 standard.

2 Likes
#3028

1 able to take down large internet entities in the long run and create wealth across a broader spectrum
2 token is an app built on a coin platform
3 by writing code in solidity onto eth ,trx, iota, xrp etc etc etc

1 Like
#3029

  1. It helps small companies to grow and to compete with larger companies. Another benefit is that the users that contribute to the network will be rewarded.

  2. A token is a smart contract that is built upon a coin, Etherium for example.

  3. You can create a token on Etherium by using a smart contract.

1 Like
#3030

  1. web3 is secured by the blockcahin so users can see what they are getting into and its a lot easier to reward users for using the system so they can be early adopters

  2. A token is a cryptocurrency that you can buy that might represent the project

  3. You can use the ERC 20 standard to create the token using a smart contract and it will use Etherium for security

1 Like
#3031

[quote=“filip, post:1, topic:8447, full:true”]
Homework on Web 3.0, and Tokens - Questions

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

  2. What is a token?

  3. How do you create a token on Ethereum?

  4. Incentive to earlier adopters helping small businesses grow. Money as a layer on the internet. Increased peer to peer no middle man on the internet.

  5. A token is fungible or non fungible digital asset created on Ethereum or other blockchain networks.

  6. A token is created on Ethereum using some simple code. Simple tokens are not secure and more work has to be put in to make sure that a tokens code is well written. The token will need Gas to excute its function in the form of Ethereum.

1 Like
#3032

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    • The benefit is in the internet protocol level not in the big corporation apps. Http have no returns. The returns will be on the dapps.
  2. What is a token?
    • Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.
  3. How do you create a token on Ethereum?
    • Install Metamask>Go to Test net>Need Test Net Ether>RinkebyAuthenticatedFaucetCopyAddress>PasteinFacebookToGetETH>GoToConsensus/Tokens>CreateContract>NameToken>RenameFunction>CreateNewFileERp20Interface>SaveVariables>Execute
1 Like
#3033

  1. What are the benefits of web 3.0 (decentralized internet)?
    Early adopters can give the content real value by being incentivized early one to use such platforms. This gives small players an opportunity to go against giants in such industry.

  2. What is a token?
    A token is a value given based inside the Eth network that can be fungible or non fungible.

  3. How do you create a token on Ethereum?
    By using smart contracts programmed in the Eth network using ERC20, ERC721 or ERC1155.

1 Like
#3034

I’m not sure who reposted Ivan’s “how to make a token in ETH network” here but kudos to you for posting that on here!!!

#3035
  • What are the benefits of web 3.0 (decentralized internet)? - No single entity is in control eliminating the possibility of big giants monopolizing the data of billions of users. Users can be awarded for providing their data to the network, while today techno giants use their data for free.
  • What is a token? - It is a digital asset programmed by the smart contract on the Ethreum network.
  • How do you create a token on Ethereum? - You can program a token by using smart contract ERC20.
1 Like
#3036

  1. Some benefits of the web 3.0 are financial incentives for early adapters, immutable smart contract functions that allow for trust less interactions between users.

  2. A token is a standard created on a platform like ethereum, that represents the value of a dapp or smart contract.

  3. A token can be deployed using any standard. On ethereum a token can be created using the erc20 token standard also erc 721 and erc 1155 which are nonfungible standards.

1 Like
#3037

  1. What are the benefits of web 3.0 (decentralized internet)?
    Programs build on web 3.0 don’t need middlemen. Web 3.0 incentivizes early adopters to use programs and get money, while there aren’t a lot of users using that program.

  2. What is a token?
    It is smart contract build on ethereum or other coin.

  3. How do you create a token on Ethereum?
    By creating a smart contract

1 Like