Homework: Web3.0 and Tokens

Ethereum 101
#3058

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

Equal opportunity for all—small and large companies can compete against each other. Early adapter reaps greater benefits because of the incentivized program.

What is a token?

There are two types of tokens: fungible —ERC20 and is used in currency transaction or non-fungible —ERC721 or ERC1155, used in gaming.

How do you create a token on Ethereum?

Tokens are created on the Ethereum platform using smart contracts.

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#3059

What are the benefits of web 3.0 (decentralized internet)?
It allows values to be captured at the protocol layer instead of the application layer

What is a token?
A token is fungible or non-fungible digital asset created on top of Ethereuem’s application layer through the smart contract

How do you create a token on Ethereum?
Smart Contract

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#3060

  1. Web 3.0 Decentralized internet allows smaller companies to build web apps rather then just a few big corporations. It benefits early adopters of the token and Ethereum and not beneficial to the big corporations.

  2. A token is a digital currency build on top of a blockchain like Ethereum.

3 A token is created via a smart contract on the ERC20 standard.

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#3061

1 - Web 3.0 allows users to capture the value of the underlying decentralized infrastructure
2 - A token is a digital asset (coins/fungible or NFTs) that is managed by a smart contract and deployed to the blockchain
3 - Create a token by creating a smart contract following the ERC-20 standards and launch it on the Ehtereum blockchain

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#3062

  1. What are the benefits of web 3.0 (decentralized internet)?
    The centralized nature of the web 3.0 will allow small small players to compete with the big companies and be fairly rewarded for the content they provide. They will have their own control on the content they create.

  2. What is a token?
    A token is a smart contract that has been built on a protocol layer blockchain, f.e. ETH, EOS, ADA… that follows a set of standards, most commonly ERC20, that allows it to hold and transfer value.

3 . How do you create a token on Ethereum?
A token can be created by implementing a smart contract on top of the Etherium blockchain using one of the token standards like ERC20, ERC721, ERC1155.

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#3063
  1. The benefits of web 3.0 include value capture by the protocols and not just the applications running on them. A further benefit is to smaller entities through incentivizing early adopters to try new platforms. Trustless peer to peer value transfer becomes possible with anyone else on the internet.
  2. A token is a smart contract representing ownership and can be fungible or non-fungible.
  3. A token is created on Ethereum by use of a smart contract utilizing the standards set for that platform and token type
#3064

#1 Web 3.0 allows you to create smart contracts or dapps that are decentralized and break up the big monopoly’s. A decentralized internet would give the opportunity for smaller companies to compete with large corporations like Facebook and Google.
#2 A token is different than a coin. Tokens are the smart contracts that build off of the Ethereum blockchain, Ethereum is the coin.
#3 By creating a smart contract on Ethereum Blockchain.

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#3065

1- No one entity can stop the internet. There will always be axxess to it.
2- A form of currency built for a specific application
3- By building a smart contract to in ERC20

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#3066
  1. What are the benefits of web 3.0 (decentralized internet)?
  • It makes it possible for small startups to compete with giants. Because tokens act as incentives for early-adopters, the fewer people mine the higher economic rewards they get. However, with more users, the more value the network will have. So early-adopters have the incentive to promote the network, and with more people joining they will earn less tokens while network will be more worthy
  • It enables users to get paid instead of applications
  1. What is a token?
  • Something that developed by Smart Contracts built on top of the Ethereum blockchain. Could be fungible based on the ERC20 standard, or non-fungible based on ERC720/1155.
  1. How do you create a token on Ethereum?
  • By deploying smart contracts on top of it
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#3067
  1. Web 3.0 allows for communities to build around decentralised finance and small start ups can compete with big giants as early adopters through network effect. It equalizes all by allowing decentralised apps with varius use cases to be created as part of the ecosystem , This creators space is available to all on the Etherium blockchain
  2. A token is a fungible and non-fungible asset created on blockchain like Etherium. The tokens used to define value of Daps build on the Etherium blockchain. Fungible tokens can be exchanged/duplicated while non-fungible tokens are non duplicable
    3, Tokens are created by creating smart contracts on top of the Etherium blockchain using ERC 20 protocal for fungible tokens and ERC721 & ERC233 for non-fungible tokens
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#3068
  1. What are the benefits of web 3.0 (decentralized internet)?
    WEB 3.0will be a new era, giving smaller companies opportunity to compete with giants like Facebook and Google. Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens than later after ia platform’s adoption grows.

2. 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.)

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

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#3069

  1. In the decentralized internet, the protocol gets to have value (or gets to monetize) as opposed to web2.0 where the apps build on the protocol are the only ones receiving value. In web3.0, anyone is free to directly build their own economic models, incentive models, etc.

  2. A token is a smart contract’s cryptocurrency. It can be fungible or non-fungible.

  3. A token can be created on Ethereum by creating a smart contract based on the following standards: ERC20 for fungible tokens and ERC721&ERC1155 for non-fungible tokens.

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#3070

  1. the makers of the base protocols will be making money too not like internet 2.0 where big giant companies are making the money by utilizing the value of the base protocols.
    Now small companies can compete with giant companies also users can capture the value too.

  2. token is used by applications as value ( fungible and non fungible) used in smart contracts on platforms such as Ethirium and EOS.

  3. using smart contracts such as ERC20 and paying by gas.

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#3071

  1. What are the benefits of web 3.0 (decentralized internet)?
    The main benefit is that blockchain as an adopted technology on the protocol level can capture value. Before the HTTP, the TCP, Javascript didn’t capture the value, the platforms/apps like Google, Facebook did. DAPPs used on the WEB 3.0 decentralized internet will be able to connect to a smart contract and interact with it a manner expressed by value.

  2. What is a token?
    Tokens are cryptocurrencies build on top of a smart contract platform native coins/network. A token is a program with instructions on how to behave. It has functions like:

  • Total supply (to know what is the total supply of the token)
  • Balance (if you want a balance of a particular address, tokens use this function)
  • function for transferring ……
    Up till now, we were learning about fungible and unfungible tokens which include different standards like ERC 20 and ERC 721.
  1. How do you create a token on Ethereum?
    In our case, cryptocurrencies are tokens made on top of ETH. Tokens are smart contracts… pieces of code with standards, instructions…interacting interoperable with network infrastructure like wallets, oracles and exchanges.
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#3072

1: It allows small start-up companies to compete with bigger established companies.
2: A token is a digital asset that runs on a smart contract.
3: You program a smart contract using the ERC20 standard

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#3073
  1. What are the benefits of web 3.0 (decentralized internet)?

The benefits of such internet heavily integrated with blockchain would be the fact that unlike in web 2.0 - a lot of the value would be captured not on the level of apps, but on the protocol level itself. Also, internet integrated with blockchains - the web 3.0 would be more censorship resistant, transparent and programmable than than it’s predecessor.

  1. What is a token?

Tokens may be fungible or non fungible abstract digital assets that may represent some sort of value, resource or even voting rights. Tokens can represent something in the real world or be simply rare digital collectibles (like NFT’s) or tokens may be a whole other cryptocurrency represented in tokens built upon the Ethereum network as ERC20 tokens.

  1. How do you create a token on Ethereum?

You write a smart contract in Solidity, you spend Ether in form of Gas to power the said smart contract and create the tokens in either ERC20 standard for fungible tokens, or ERC721/ERC1155 for non fungible tokens.

“Our wretched species is so made that those who walk on the well-trodden path always throw stones at those who are showing a new road.”
― Voltaire

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#3074

More power to smaller initiatives through the network effect.
Create incentive to participate as an early adaptor.

A token is a entity based/ blockchain based on an cryptocurrencty as like ETH, EOS or ADA

Create a blockchain based on the technology of ETH through de erc20 protocol/standardization

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#3075
  1. New companies pay their token to early adopters, motivating people to join so it can grow way faster.
    That way small start-ups will be able to compete with the giants of today.
  2. Token (Fungible or NF) is a digital asset build on a blockchain (like ETH)
  3. By creating smart contracts on the ETH blockchain using a token standard (like ERC20, ERC721, ERC1155)
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#3076

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 2.0 rewarded the apps not the internet protocols. In 3.0 it will be easier to compete with big tech because of smart contracts(dapps).

  2. What is a token?

Tokens are cryptos built on top of the Etherium Blockchain using smart contracts(dapps).

  1. How do you create a token on Ethereum?

A token is created by following a standard (ERC20)using a programming language such as Solidity to create smart contracts that will run on the Etherium blockchain.

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#3077

  1. Benefits of web 3.0 are that it allows for the underlying protocols to be rewarded for their value, trustless, and it evens the playing field.

  2. Tokens are smart contracts built on top of the blockchain.

  3. You can create a token using the token standards like ERC20 and ERC721

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