Homework: Web3.0 and Tokens

Ethereum 101
#3138

  1. Web 3.0, decentralized internet, allows smaller companies to compete with huge corporations such as Apple, Facebook and Google. People are incentivized to use new platforms, as they will be rewarded with tokens which will increase in value later on.

  2. A token is a cryptocurrency/digital asset, which can be fungible or non-fungible, that is handled and created by smart contracts, on various platforms, such as EOS or Ethereum.

  3. Smart contracts on Ethereum allow you to create tokens.

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#3139
  1. What are the benefits of web 3.0 (decentralized internet)?

Underlying protocols generate money.
Allows smaller businesses to compete with huge corporations (Microsoft, Google, Facebook, etc.).
Incentivizes early adopters with greater quantity of rewards which over time, diminish in quantity but increase in value, due to mass adoption.

  1. What is a token?

A token is a digital asset or cryptocurrency that is developed using a smart contract. Tokens are either fungible or non-fungible.

  1. How do you create a token on Ethereum?

By coding smart contracts using the applicable standards: ERC 20, ERC 223, ERC 721, ERC 777, and ERC 1155.

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#3140

  1. The benefits of Web 3.0 it that it created economical incentives for protocol’s level, also it allows and gives the opportunity to smaller companies to compete with well established companies giving economic incentives to early adopters.

  2. A token is a currency or a digital representantion of an asset that can be fungible or non-fungible that is developed as smart contract.

  3. A token can be created/programmed using a smart contract.

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#3141

  1. I hope I will learn more about this because this is still unclear for me. But the stated benefits are that smaller companies could more easily compete with giants like Google and Facebook by starting networks around new cryptocurrencies (or tokens) which incentives early adoption.

  2. A token is digital asset (digital money) which could be either fungible or non-fungible. They are mostly based on smart contracts running on the Ethereum or similar blockchain.

  3. Tokens are created by a smart contract. There are several standards for tokens (ERC20, ERC721, ERC233) which, if followed, will allow existing wallets and exchanges to handle the token.

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#3142
  1. Through having a decentralized internet we wont have big corporations having a monopoly on the market. While also giving viewers incentives
  2. A token is a programmable currency written using a smart contract
  3. You make them by using smart contracts
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#3143
  1. The benefits are incentives for early adoption, contributing to the networks, and all are encouraged to promote where they have skin in the game as more users adopt that network. A wider value distribution!
  2. A token is a fungible or non-fungible digital asset created by a smart contract that is built on top of a blockchain network - ETH, EOS, NEO, and soon Cardano.
  3. A token can be create through a smart contract on the Ethereum network.
2 Likes
#3144

  1. The benefits of Web 3.0 ( decentralized internet ) are that it removes the burden of infrastructural set up for smaller organizations and individuals enabling them to compete with the bigger corporations and benefits the underlying protocol which appreciates in value over time incentivizing early adopters as well.

  2. A token is a programmable digital asset ( fungible or non fungible ) and abstraction for anything that carries a certain value.

  3. A token can be created on Ethereum by using the ERC 20 standard to create a smart contract.

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#3145
  1. That information is descentralized and not managed by monopolies such as facebook or google. It also allows people to capture value from different things they do on the internet.
  2. A token is cryptocurrency developed on top of a smart contract able blockchain, such as Ethereum, which it is used for special functions to excecute this samrt contracts. Tokens can be fungible (on ERC20 standard) or non-fungible (NFTs, on ERC 721 or ERC1155).
  3. To create a token on ethereum you need to develop a smart contract on top of Ethereum, and depending if it is fungible or non fungible with certain standards. This standards require to code with the same functions of other tokens to allow other tokens to interact between each other. Also, for excecuting the lines of code programmed in the smart contract, tokens need GAS to pay for the operations excecuted, so for this, you need Ether (ETH).
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#3146

  1. What are the benefits of web 3.0 (decentralized internet)?
    No monopoly or domination by big corporations.

  2. What is a token?
    A token is a kind of cryptocurrency built on top of Blockchain platforms such as Ethereum using smart contract.

  3. How do you create a token on Ethereum?
    By using Dapps (decentralized apps) which includes smart contracts.

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#3147

Web 3.0 (decentralized internet) would give the opportunity for smaller companies to compete with large corporations like Facebook and Google.
Users contributing to the network with relevant posts/engagements will be incentivized which adds value to the network and make it better.
Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens than later in a platform’s life cycle when adoption has increased and the value of those tokens and network effect as well.

A token is a cryptocurrency/programmable digital asset that is developed using a smart contract.
There are two types of tokens fungible & non-fungible.

A token can be created on Ethereum using a smart contract

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#3148
  1. The benefist are that it captures value, decentralization and security for data
  2. It is a digital monatery item to intectart with the network
  3. You have to create it under the standard ERC20, so it can be compatible with the rest of the network
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#3149

  1. Web 3.0 has the benefit of being uncontrolled by a single entity. It also has incentives for people to use its various dapps via crypto currencies. This may also act as a magnet in pulling market share from the current big Internet companies.

  2. A token is a fungible asset built on top of the Ethereum network using its smart contract data structure.

3.A token can be implemented via smart contracts.

1 Like
#3150
  1. What are the benefits of web 3.0 (decentralized internet)?
    Small companies can compete with giant companies by overcoming the network effect. The network effect is overcome by incentivizing early adoption.
  2. What is a token?
    A token is a fungible or non fungible digital asset that utilizes the Ethereum blockchain or some other blockchain which it is not native to.
  3. How do you create a token on Ethereum?
    anyone can create a token by programing a smart contract using simple token standards .
1 Like
#3151

1-What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 is the internet of value where protocol builders, early adopters and users are rewarded. This is a total shift of web 2.0 where a few monopolistic applications are capturing the value.

2- What is a token
A token is a programmed digital asset. It can be fungible (each token identical) or non fungible (unique ie NFT’s)

3-How do you create a token on Ethereum?
You can create a token on Ethereum by programing a smart contract using the ERC20 standard

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#3152

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

I.Token Economy: Companies that build decentralised apps(dapps) can create their own token economies. :writing_hand:t5:(This ties into the below point)
II.As a result, barriers to competition are broken down: Small players(startups etc) can compete with bigger players(enterprise level corporations etc) due to the ability to incentivise early adoption.:writing_hand:t5:

2. What is a token?

A token is a programmable digital asset or unit of value that is developed/resides on top of an existing blockchain network.e.g Pundi X✍🏾
(Please note that coin on the other hand is a digital asset that is native to a blockchain e.g ETH is the native asset for the Ethereum network)

3. How do you create a token on Ethereum?

A token can be created by building a smart contract in accordance with one of the ERC(Ethereum Request for comment) standards such as ERC 20, ERC 165, ERC 621,ERC 777 etc.:writing_hand:t5:

1 Like
#3153
  1. What are the benefits of web 3.0 (decentralized internet)?
    Early adopters will be rewarded for their contributions to the growth of small enterprises. Money as an internet layer. Increased peer-to-peer communication with no middleman on the internet.
  2. What is a token?
    A crypto token is a virtual money token or a bitcoin denomination. It is a tradable asset or service that exists on its own blockchain and allows the holder to use it for investment or economic purposes.
  3. How do you create a token on Ethereum?
    On Ethereum, a token is generated by running some basic code. Simple tokens are insecure, and further effort must be expended to insure that a token’s code is well crafted.
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#3154

  1. The benefits of web 3.0 is that the web can now be decentralised with decentralised apps being developed on top of it. In comparison to web 2.0 where all apps developed ontop of the internet captured the value, in web 3.0 the value is captured at the protocol level, which allows for more sharing of the value rather than it being centred into powerfull applications such as Facebook, Gooogle etc.

  2. A token is a small piece of program (smart contract) that can represent their own cryptocurrency built on top of a particular blockchain.

  3. You can create a token on ethereum by deploying a smart contract based on the ERC-20 (fungible), ERC-721 or ERC-1155 (NFT) standard.

1 Like
#3155

1. What are the benefits of web 3.0 (decentralized internet)?
Lower entry barriers, value on protocols instead of only on applications,

2. What is a token?
A token is a digital asset developed using a smart contract

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

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#3156
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Most of the value is captured at the protocol level instead of application level.
  • Economic incentives for early adopters.
  1. What is a token?
  • It is a programmed digital asset.
  • It can be fungible or non-fungible.
  1. How do you create a token on Ethereum?
  • By running a smart contract using the ERC20 standard.
1 Like
#3157

  1. Benefits include more efficient web browsing. Websites customising themselves to best fit a user’s device, location and accessibility requirements. Websites are thus attuned to users’ usage habits.

  2. A fungible or non-fungible digital asset that represents specific use and resides in a blockchain.

  3. Knowing what you want the token to achieve, you create the contract code on the Ethereum platform, following the appropriate standards.

1 Like