Homework: Web3.0 and Tokens

Ethereum 101
#3198
  1. -Utmost privacy
    -Inability to use data for advertising
    -Sending assets in a secure and fast way
    -Fast transactions
  2. A token is a fungible or non-fungible programmable digital asset that represents value on a blockchain protocol.
  3. A token can be created on Ethereum using a smart contract.
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#3199
  1. internet is decentralized value can be captured even from protocol layer and created decentralized. dapps can be created comprising various network elements.
  2. it is a program / smart contract running on the Eth protocol/blockchain
  3. creating a smart contract following standards like ERC20, sitting on top of Eth protocol/blockchain
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#3200
  1. What are the benefits of web 3.0 (decentralized internet)? Transparency (benefits of blockchain), more small players making impact (versus the centralized monopolies like FaceBook and Banking), privacy (in not going through a central point), data ownership and sharing, incentivized creators (i.e. high rewards for early adopters).
  2. What is a token? A type of cryptocurrency that represents an asset or specific use and resides on their own blockchain. Many tokens follow the ERC20 standard and reside on top of the Ethereum blockchain, but have their own unique name, symbol, decimal representation, quantity. Each has a table (mapping) of address to number of tokens.
  3. How do you create a token on Ethereum? Using the ERC20 standard, you need to come up with your unique name, symbol, starting quantity, fractionalization (decimal places). To become “visible”, you need to apply to places with CoinMarketCap to become visible to other people.
1 Like
#3201
  1. What are the benefits of web 3.0 (decentralized internet)? Smaller entities can participate and compete with more established giants through programable currencies, etc.
  2. What is a token? An intra-system unit of transaction, used in house by companies to perhaps be later traded with fiat or other currencies.
  3. How do you create a token on Ethereum? Through programming smart contracts that use standards for interoperability between different wallets.
1 Like
#3202

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

  2. Web 3.0 enables all companies and users to build a new economic model (trust-less peer to peer payments incentives lead to new services). The incentive layer is directly built in.

  3. What is a token?
    A token is a smart contract written on top of Ethereum.

  4. How do you create a token on Ethereum?
    A token is built on the Ethereum network according to ERC20 standards. These standards create uniformity of ERC20 projects allowing them to interrelate without conflict.

1 Like
#3203
  1. 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.
  2. A token is fungible or non fungible digital asset created on Ethereum or other blockchain networks.
  3. 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.
1 Like
#3204

  1. What are the benefits of web 3.0 (decentralized internet)?
    Censorship-resistant. Offers incentives to early adopters which encourages quick growth, and also encourages a lot of movement from established to new projects. Enables value to be transferred effortlessly and without any middle men over the internet.

  2. What is a token?
    A token is a ledger within a blockchain ecosystem which keeps track of some unit of value.

  3. How do you create a token on Ethereum?
    You write the token contract. Then you compile it and deploy it from an Ethereum address. You then pay the gas fee and the token gets deployed. The address you use to deploy the token contract will be the owner of the contract and have access to whatever functions are reserved for the owner of said contract.

1 Like
#3205
  • What are the benefits of web 3.0 (decentralized internet)?
  • allows early adopters to benefit from inflation; helps break up the monopoly of a few big players and gives smaller companies a chance to compete
  • What is a token?
  • a token is fungible or non-fungible asset developed using a smart contract
  • How do you create a token on Ethereum?
  • using a smart contract on Ethereum is one way to create a token
1 Like
#3206
  1. What are the benefits of web 3.0 (decentralized internet)?
    New economic models can be built. Direct and peer to peer interactions and more incentives for early adopting new technologies.
  2. What is a token?
    A token is a fungible or non-fungible digital asset representing some form of value.
  3. How do you create a token on Ethereum?
    A token can be created on the ethereum network by coding a smart contract.
1 Like
#3207

1 More transparency, decentralized web, peer-to-peer no midle-man

2 A token is a cryptocurrency that doesn’t have it’s own blokchain

3 You can create a token on Ethereum using a smart contract

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#3208

I believe the most important think about web 3.0 is that it’s in the level of the protocol where the value is captured. Any ecosystem that is built on top of it gives it more value. In addition, anyone contributing to each ecosystem is rewarded, helping it grow more, making the base where it is built grow too.
This whole proccess can help small new companies compete with the already huge corporations. In Web 2.0 there is little value joining a small network at it start (Imagine how usefull is FB for a use when it had a few thousand users vs ths Billions it has now). Web 3.0 gives more incentive to early adopters of a project, since their rewards at early stage appreciate themselves as the network grows.

Token is the native cryptocurency used in a project (local chain) build on top of a coin (Eth of example). Resources from the initial coin blockchain are bind with smart contracts. The transactions in the local chain use the local token.

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#3209

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

  • Value is captured on the protocol level rather than the application level as with web 2.0
  • Huge companies will no longer be in control of user data
  • No entity will have the ability to kill services or shut down sites

2. What is a token?
All cryptocurrencies built on top of Ethereum are tokens, while Ethereum is a coin like Bitcoin is a coin

3. How do you create a token on Ethereum?
Tokens on top of Ethereum are created by implementing the interfaces specified in the ERC standards, i.e. ERC20, ERC721, ERC1155, etc.

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#3210
  1. The Benefits of web 3.0 are that it rewards the contributors and not just the owners of the app.
  2. A token is either fungible or non-fungible (NFT). Fungible tokens are typically build on top of Ethereum via the ERC20 standard.
  3. The easiest way to created a token on Ethereum is by using the ERC20 standard in a Smart Contract. The ERC20 uses standard functions such as totalSupply, balanceOf, and transfer.
1 Like
#3211

  1. What are the benefits of web 3.0 (decentralized internet)?
    By financially incentivizing early adopters & capturing value at the protocol level instead of at the application level

  2. What is a token?
    Tokens are smart contracts which are created and deployed on top of existing platforms - like Ethereum.

  3. How do you create a token on Ethereum?
    Using one of the ERC standards (fungible vs non-fungible), a user code their own token smart contracts.

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#3212

Web 3.0 makes it possible for small companies to potentially compete with larger companies like Google or Facebook. Companies can incentivize early adopters by rewarding them with tokens to use their service, they will then promote the service to other potential users in an effort to to increase the user base which in turn will increase the value of their tokens.

A token is a dapp or smart contracted created using the Ethereum ERC20 protocol.

A token can be created on Ethereum by writing a smart contract or Dapp in Solidity.

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#3213

  1. What are the benefits of web 3.0 (decentralized internet)?
    Any time you can cut out a middle man, I see it as a good thing. Eliminating censorship is another great benefit.

  2. What is a token?
    A special kind of smart contract. The ERC20 tokens are created using a basic common framework for cryptocurrency type tokens that are created on top of the Ethereum blockchain.

  3. How do you create a token on Ethereum?
    Create a smart contract. I haven’t learned the details behind HOW to do this…yet. :wink:

1 Like
#3214
  • What are the benefits of web 3.0 (decentralized internet)?

This will allow users and small developers to monopolize on the services provided by the participants more than the large corporations. This will do so by sharing the governance and ownership across a network that is much more decentralized.

  • What is a token? These can be fungible or non-fungible pieces of code that are immutable and can be used, shared, and traded across network platforms like Ethereum. These are held and traded by anyone using various wallets. These tokens can be used to pay for the various uses of web 3.0 or can be a store of wealth representing support for specific blockchains and/or smart contract uses.

  • How do you create a token on Ethereum? Creating a smart contract that follows the basic rules laid out in various Ethereum standards such as ERC20.

2 Likes
#3215
  1. in web 3.0 protocol has captured a value
  2. Token is currency created by application on top of etherum
  3. Using smart contract you can create token on Etherum
1 Like
#3216
  1. You can create smart contracts and DAPPS.
  2. A token is a coin build on a network, eg. something built on Ethereum
  3. Using code
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#3217
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 manages to capture value by economically rewarding people who take part in the network.
  2. What is a token?
    Tokens are smart contracts that are represented by their own cryptocurrencies, essentially tokens are smart contracts built on the Ethereum network (in this case)
  3. How do you create a token on Ethereum?
    You can create a token by using a smart contract.
1 Like