Homework: Web3.0 and Tokens

Ethereum 101
#3359

What are the benefits of web 3.0 (decentralized internet)?
This will give smaller players in the market an opportunity to compete with the big boys of the Web 2.0 world. They will be able to offer opportunity to early adopters to get involved and make tokens available at low prices with large potential upside later. This incentive and the development on new and interesting use cases and supported business models will create many new opportunities for smaller newcomers to take on the bigger player in the future. The trust factor and the network effect of Web 3.0 (and all the benefits of block chain technology) will help drive this over time.

What is a token?
A token is a fungible or non-fungible programmable digital asset that represents value on a blockchain protocol

How do you create a token on Ethereum?
By implementing the ERC20 standard when creating the token and the associated smart contract for that token.

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#3360
  1. protocols perceive value. Early adopters benefit of the network effect as adoption increases
  2. A token is the asset of a specific dapp built on a ecosystem like ethereum
  3. Tokens are created via smart contracts
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#3361
  1. In Web 3.0, early adopters are incentivized to use a new dapp as it is sort of like an investment. Also in Web 3.0, the protocols are what generate the money and not just the companies that use it. This gives a chance against big corporations, for ex. Google, Microsoft, etc. all thrived on languages or protocols that weren’t created by them.
  2. A token, unlike a coin, is built on a different platform. A coin is a cryptocurrency with its very own blockchain and network.
  3. Using a smart contract (dapp) on one of the token standards (ERC20, ERC721, ERC1155, etc.)
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#3362

1.Transparency- independency from the major corporations, more value- the contents and user contribute to network will have rewards, you can create your own cryptocurrency.
2.A token is a smart contract that has been built on a protocol layer blockchain, ETH, NEO, EOS, which follows a set of standards, most commonly ERC-20, that allows it to hold and transfer value. Can be fungible or non-fungible.
3.Via smart contract in Etherum blockchain.

3 Likes
#3363

  1. A benefit of web 3.0 is that it allows developers to capture value on the protocol level, compared to web 2.0 which only captured the most value on the application level. Another benefit is that web 3.0 allows for decentralised website which would be very hard to take down as there is no single point of failure.

  2. A token is a form of a smart contract that is created typically on-top of an already built blockchain coin. They normally require much less development workload as most of the foundation have already been built and can have their own ecosystems as-well.

  3. Tokens can be created by using specific token standards, ERC20 standards create Ethereum based tokens for example.

3 Likes
#3364
  1. What are the benefits of web 3.0 (decentralized internet)?
    ans- the breakthrough achievement with Web3.0 is the fact that the main protocol makes a lot more value (money) than the Dapps that use the protocol to run their smart contracts and tokens. More over, it incentives users when it comes to social platforms that are competing the big industry giants in order to create more network attraction.
  2. What is a token?
    ans- it is a type of cryptocurrency native to the dapp on a certain protocol. namely (ERC-20 or NFT)
  3. How do you create a token on Ethereum?
    ans-using a standard ERC-20,ERC721,ERC233 smart contract token guideline.
2 Likes
#3365

  1. No central entity controlling the economic value, the value goes to the protocol and so to the people, which makes a powerful internet.

  2. A type of cryptocurrency that represents a digital asset that resides in a blockchain.

  3. A token is created on Ethereum using a smart contract, which is a small set of instructions/code.

2 Likes
#3366

1/ It gives the opportunity to small companies to compete with giants such as google or facebook.

2/ It is a coin build on the Ethereum blockchain, for smart contracts

3/ Using Solidity as a programming language to build a smart contract based on the ERC-20 standard. Also ERC721 and ER1155 are used

2 Likes
#3367
  1. What are the benefits of web 3.0 (decentralized internet)?
    it’s decentralized, built on a blockchain smart contract and anyone can benefit to it with his economic power
  2. What is a token?
    A token plays a huge role in a Decentralize app, with the supply and demand the token can go up or down and investors can benefit to it .tokens can be use for rewards .
  3. How do you create a token on Ethereum?
    you can create token deploying a piece of code writing in solidity as a smart contract on Ethereum blockchain.
1 Like
#3368

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

The users of the web can be incentivised to use websites and to contribute in order to receive crypto tokens.

2. What is a token?

A token can be part of a digital economy and has monetary value. These tokens can potentially be used within an App or game to purchase something. Each type of token might have its own use cases and incentive models. A token is depending on a smart contract platform like ETH to be built upon and need ETH to execute the smart contracts.

3.How do you create a token on Ethereum?
Tokens are created within Smart contracts (dapps)

2 Likes
#3369
  1. Benefits are that you are basically able to program money directly on the ethereum network. It is decentralized and you can program dapps on the network. For a use case that I am thinking about I can create a decentralized payment system to get in touch with specialists.
  2. A token is money programmed on the ethereum network and is based on the ERC20 framework.
  3. You program it using standard functions on the network that follow the standard ERC20.
1 Like
#3370

  1. The benefits of web 3.0 is that it will benefit end users financially. They will be able to earn rewards on top of applications instead of the web 2.0 where the underlying application earns money on the ones building on top of it; Ethereum. This leads to a more decentralized internet.

  2. Tokens are fungible or non fungible assets that can be used for transactions on Ethereum or other smart contract platforms.

  3. Tokens are created on Ethereum using code, the more simple the code, the less secure the token. More secure tokens require more complex code.

1 Like
#3371
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 is the introduction of the blockchain. You get more security and privacy, and you are rewarded for your time spent posting and liking.
  2. What is a token?
    A token is a digital currency[ doesn’t have it’s own native ecosystem. A token does not have its own it relies on a coins. It can be either fungible or non fungible.
  3. How do you create a token on Ethereum?
    A token can be created with ERC20 standard.
1 Like
#3372
  1. Web 3.0 is a space where small users can compete with the large ones.
  2. A token is a smart contract built on ETH .
  3. You create a token on ETH blockchain as a smart contract.
1 Like
#3373

  1. Web 3.0 evens out the playing field between start-up businesses. In other words, smaller businesses have a better chance at growth because they can use incentives in the form of tokens, which can be of great appeal to early adopters since they believe that the prosperity of the company they are investing in, by getting their tokens, will increase; this has a positive correlation with the future value of the tokens previously bought.

  2. Tokens (whether fungible or non-fungible) are digital assets which are developed and programmed on smart contract platforms such as Ethereum, BSC, Polygon, Avalanche, etc.

  3. To create a token on Ethereum, you have to curate a simple piece of code using a smart contract language such as Solidity or Vyper.

1 Like
#3374

  1. Web 3 is beneficial as it decentralizes the internet, pushing out monopolies and removing the need for third party middlemen, which in turn rewards more users for data and content they were to publish and put out. (icentivised rewards for network contributor, as opposed to increasing the value of FaceBooks data centers)

  2. A token is a representation of a set of values derived from a token smart contract built on its respective network layer (Ethereum = ERC20 , ERC721 etc. ).

  3. A token is created on ethereum through the deployment of a standardized smart contract, be it ERC20, ERC721 or others.

1 Like
#3375
  1. What are the benefits of web 3.0 (decentralized internet)?

A: Web 3.0 offers end-users complete ownership of their data and eliminates the need for organisations such as Google and Facebook to store and control their data, as working in conjunction with blockchain technology allows us to break away from standard Web 2.0 architecture where centralised servers usually have overall control; the additional benefit being that no single entity such as a government can take it offline. As it’s blockchain based there will be no downtime or interruption in service and access will be completely global and not require any special privileges.

  1. What is a token?

A: A token is a programmable digital asset that can act as the cryptocurrency for programs such as smart contracts.

  1. How do you create a token on Ethereum?

A: Create a smart contract using Solidity and stipulate token details using ERC20 standards, then when tested and verified, deploy the smart contract using a medium like Remix to host it on the Ethereum blockchain.

2 Likes
#3376
  1. What are the benefits of web 3.0 (decentralized internet)?
    All the benefits that comes from the decentralisation, like censorship resistance. Economically it has allowed to extract value from the protocol layer versus web 2 where the protocol have been given away for free.
  2. What is a token?
    It´s a monetary incentive to participate at different levels in a community. Ie MakerDAO is the token to participate in the governance of the Maker protocol.
  3. How do you create a token on Ethereum?
    Through the execution of programs, called smart-contracts and using the erc20 standard for fungible tokens
2 Likes
#3377

  1. Web 3.0 has a monetary system that benefits and incentivizes early adoption. this gives smaller and newer companies a chance to compete with larger corporations.

  2. a token is a digital asset/currency that is built on top of a smart contract platform.

  3. you can create a token on Ethereum by coding a smart contract using one of Ethereum’s smart contract standards I.E. ERC20

1 Like
#3378

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 allows an opportunity for people to reap the benefits that were promised since Web 1.0. One of the benefits is a decentralized store of value in the form of Bitcoin, in which people in many parts of the world may now participate in a truly free and global market, and may have something that they own, and is not easily taken away (not your keys, not your coin).

  2. What is a token?
    A token is a fungible unit of value used within a micro-economy of smart contracts or dapps built on the Ethereum network.

  3. How do you create a token on Ethereum?
    A token is created on Ethereum by publishing a smart contract onto the Ethereum network that contains the attributes that the creator assigns to the token. These token attributes based on purpose, for example, whether it is a governance token or a liquidity token.

1 Like