Homework: Web3.0 and Tokens

[Jelle_Buskermolen]

1. What are the benefits of web 3.0 (decentralized internet)?
   With web 3.0 the protocols are rewarded in stead off the apps which are build on top of them. It also allows smaller companies to compete with big established companies, such as Google.
2. What is a token?
   It is a digital asset, build on top of a blockchain.
3. How do you create a token on Ethereum?
   You can create a token by creating a smart contract. You can do this using the (for example) Solidity programming language and following a standard such as ERC20.

[L0rdStitch]

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

• Increased information linking: Semantic web will help in the connectivity of online data.
• Efficient searching
• Better marketing.
• More efficient web browsing.
• Effective communication.
• Change human interaction.

2. What is a token?

• A currency built on the ethereum blockchain.

3. How do you create a token on Ethereum?

• By using ERC standards. Depending on the function of the token, different standard can be used to alter its properties such is turning the token into NFTs.

[hihaiu]

1. What are the benefits of web 3.0 (decentralized internet)?
   Decentralization, fewer middlemen, incentives, data ownership
2. What is a token?
   It is digital asset that is built on a blockchain
3. How do you create a token on Ethereum?
   Token can be created by programming a smart contract by using ERC20 token standard.

[Ren]

1. A decentralised internet gives people around the world and smaller companies the opportunity to compete with the larger companies such as Google and Facebook. Early adopters are incentivised to use new platforms as they’re given high rewards.

2. A token is a cryptocurrency or digital asset that is developed using a smart contract

3. It is created on Ethereum using smart contract

[AndrewM]

1. Incentive can be given to encourage early adoption through economic reward.
2. A token is a smart contract that creates a digital asset on the blockchain.
3. A token can be created via Ethereum or other smart contract capable blockchain.

[BuildingArcambry]

1. What are the benefits of web 3.0 (decentralized internet)?
   It is a new layer of the internet which is based on a new set of protocols. These protocols enable the monetization of micro-transactions and allow small companies to complete with large corporations.
2. What is a token?
   A token is a digital abstraction representative of something of value either fungible or non fungible.
3. How do you create a token on Ethereum?
   By using any one of several ethereum token standards, one can describe the token behaviors or smart contract.

[lance]

1. The creators of the blockchain protocols are rewarded most as opposed to the websites/apps. It also puts everyone on an even competitive playing field through the use of token incentives built in to their respective dapps.

2. A token is a unit of monetary value within a smart contract/dapp.

3. By writing your own smart contract using the programming language Solidity/EVM within an ERC standard.

[GiuZuk]

1 to give opportunity to small companies to compete with big ones. But like everything, who first arrives better stays…
2 a virtual currency. It represents a tradable asset or utility that resides on its own blockchain, and allows the holder to use it for investment or economic purposes.
3 by coding up a smart contract and deploying it to the Ethereum blockchain.

[Radek_Billa]

Web3.0 benefits are money as a layer on internet without central authority control. This can help small businesses to grow and everything depends on free market

Token is a digital asset created on ethereum blockchain. Every token have final supply and tokens can be used many ways like ICO, NFT and more.

Token can be created by programming with solidity language. Ethereum network using ERC20 standard that is batter and easy to list on some dex.

[Alasdair_Ewing]

The benefit is that the platform can earn money (coin)

A token is the coin used on a platform, Dapp , currency used on its own Blockchain.

A token on Ethereum is created by writing a smart contract which is running on the Ethereum platform.

[jeffw]

1. Distribution of wealth. People can be rewarded for being early adopters of new platforms.

2. A token is a cryptocurrency based on a coin with its own unique smart contracts.

3. By creating new and unique smart contracts.

[Maia]

1. *Transparency: you can follow your own data and inspect the code. You don’t gave to trust a major organization or corporation behind it. *Decrease the presence of the middle men. *Privacy, data ownership and sharing are stronger. *Creators are incentivized.
2. A Token is a digital asset (a unit of a balance) created in a platform built on blockchain technology.
3. You create a Smart Contract, which contains a map of an account addresses and their balances, on the Ethereum platform.

[Alex_A]

1. By bringing the concept of decentralization in game, Web 3.0 provides equal opportunities to all interested in it’s development, allowing small companies to bring their competitive edge on par with giants as google, amazon and others to the market
2. Tokens represent digital assets, that are built on top of other blockchains like Eth, Eos etc.
3. Tokens are built using smart contracts, that are pieces of programmable code establishing the rules for token environment and reflecting token total balances

[Crypto_Wolf]

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

   Web 3.0 will diversify the rewards more equatibly.

   • From apps to protocols.
   • From big companies to small companies.
   • From major players to early adopters.

   It will give everyone the possibility to create and establish their own platform/environment, and profit from it.

2. What is a token?

   It’s a currency built on top of the Ethereum platform.

3. How do you create a token on Ethereum?

   Tokens can be created using different standards:

• ERC20 - Standard for fungible tokens
  This means that all tokens are the same, with no difference in value or application.
• ERC721/1155 or NFT’s - Non fungible tokens
  Used primarily in games to create unique items with different value and application.

[vero]

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

The value goes to both the protocol and the applications, not just the applications.

2. What is a token?

The term token can be used to refer to any cryptocurrency, but it can also be used to describe the cryptoassets that run on top of another cryptocurrency’s blockchain. In the second case, a token can be a decentralized application (that do things like automate interest rates or sell virtual real estate) that can also be held or traded like any other cryptocurrency.

3. How do you create a token on Ethereum?

Mainly 2 things are needed: (a) A wallet that allows managing the Ethereum blockchain, and (b) some Ether (ETH) to cover the entire cost of the operation.

[Cryptoprieto]

1. A decentralized internet would give the opportunity for smaller companies to enter the game and compete with other big companies. You can basically create anything you can imagine and get big rewards as an early adopter.
2. A Token is a digital asset, it can be unique (non-fungible) or fungible and it is developed using a smart contract on the ETH or EOS platform.
3. You create a token on ETH by implementing a smart contract using one of the token standards like ERC20 or ERC721.

[Brigadoon777]

1. What are the benefits of web 3.0 (decentralized internet)?
   It would be better to help stop the monopoly giants (FB, Twitter, Ect. ) it would help for competition, remove middle men and reward people with incentives. Adding value to the protocol.
2. What is a token?
   A token is a fungible or non-fungible digital programable asset
3. How do you create a token on Ethereum?
   Tokens are created with smart contracts on the Ethereum blockchain . ERC20 standard

[abel2s]

1. In Web 3.0 there are many benefits.

• The protocol level is where the value is captured.
• Early adopters are able to accumulate a lot of funds.
• It’s not owned by any one individual.
• The incentives are shifted from company earnings to individuals earning most of the funds.
• No middle man.

2. A token is a fungible or non-fungible digital asset created on Ethereum or an other blockchain network.

3. A Token is created by writing and implementing smart contracts using one of the token standards by hard coding the logic and amount of tokens (ex. ERC20, ERC721 etc.)

[tfrancisco]

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

1.It incorcorates value. You can create, transfer ans store value at a protocol level.
2. Users can obtain value from the use of the network
3. Crearion of many new economies wich can interact between them

• What is a token?

Is a map containin addresses and integers in a smart contract.

• How do you create a token on Ethereum?

With a smart contract, usually following erc20

[kristene]

1. What are the benefits of web 3.0 (decentralized internet)?
   The value is captured at the protocol level. In web 2.0 all the value went to the applications like google and FB. Early adopters earn incentives by being first and using the network.

2. What is a token?
   A token is a smart contract, or dapp, that is built on top of the Ethereum network and has value.

3. How do you create a token on Ethereum?
   Each smart contract wants to build its own economy so they create their own token. You can program tokens in Solidity. All tokens are made by the same ERC20 Standard so they can communicate with one another on the network without any conflicts.