Homework: Web3.0 and Tokens

Ethereum 101
#3379
  1. there is no longer a central authority that can censor information. also users are paid to adopt the new technology.
  2. a token is a smart contract based on ERC20 guidelines that sits on top of the ETH network.
  3. using the ERC20 programming standards and guidelines.
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#3380

My Answers:

  1. a) I would say the main being no centralised authority, very important.
    b) The ability to create incentive models for the early adopters. Allowing the value of those tokens earned to increase over time as long as the network adoption increases.
    c) By having these incentive models in place, it will give the smaller platforms a fighting chance to compete against the bigger centralised platforms.

  2. Tokens are built on an existing blockchain that can be fungible or non fungible tokens. The tokens can hold value and can be programmed for special use cases.

  3. Create a smart contract in Solidity programming language using the ERC-20 standard.

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#3381

  1. Web 3.0 adds incentives for early adopters which will help to grow the network. The more users there are, the more valuable the network will be. This helps create opportunities for new businesses to gain traction in otherwise monopolized industries.

  2. A token is a digital currency built on top of a blockchain (such as the Ethereum Blockchain).

  3. To create a token on the Ethereum blockchain you must write a smart contract per ERC-20 standards and deploy it on the blockchain.

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#3382
  1. benefits of web 3.0: smaller companies can compete against larger ones.
  2. a token is a currency built on top of the ethereum platform.
  3. To create a token on ethereum you should follow a erc20 code for fungible tokens. Use erc721 or erc1155 for nft.
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#3383

  1. You are able to create your own ecosystem, and give value to your platform. It can not be controlled by any bad actors.

  2. A token is a cryptocurrency built on top of the ETH blockchain.

  3. By first using the ETH standards, the ERC20, that makes each token compatible with wallets and exchanges.

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#3384
  • What are the benefits of web 3.0 (decentralized internet)?
  • What is a token?
  • How do you create a token on Ethereum?

  1. Monetization of underlying protocols. It eliminates the necessity of 3rd party services and allows smaller businesses and individuals to profit and compete with large corporations and institutions. It also incentivizes users by allowing finical rewards for using services.

  2. A smart contract digitized asset. its value is determined by the market and is created on top of the ethereum smart chain

3)A smart contract using a standard protocol like ERC20

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#3385

  1. What are the benefits of web 3.0 (decentralized internet)?
    That you can invest in a protocol token instead of big applications/companies

  2. What is a token?
    A token is an asset created on top of Ethereum by a smart contract

  3. How do you create a token on Ethereum?
    By creating a smart contract on Solidity or another language that runs on Ethereum

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#3386
  1. Economic incentives that will drive security, and more parity across the system, as well as fewer middlemen and transparency.
  2. A token is a cryptocurrency that is built on a premade network, like dapps on ethereum.
  3. Tokens are created from smart contracts built on a token standard.
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#3387

Homework on Web 3.0, and Tokens - Questions

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

  2. What is a token?

  3. How do you create a token on Ethereum?
    Answers

  4. it has all other dynamics, there are more open monopoly opportunities to gain more value like opening up their cryptocurrency that they compete with the main applications eg- google.

  5. A token is a unit of value existing on blockchain either fungible or non fungible

  6. a token is created on ethereum by using a smart contract.

#3388
  1. As a decentralized internet, websites can have their own cryptocurrency, own economical model etc… that is built on ETH, EOS, etc… platforms. This creates the potential, for example, for a decentralized social network like Steemit, to compete with Google or FaceBook. Everyday people can now have the opportunity to capture the value of their network, making $ and also giving rewards to those using the network. Essentially everyone is getting paid for posting their thoughts/ideas/info on the network.
#3389
  1. As a decentralized internet, websites can have their own cryptocurrency, own economical model etc… that is built on ETH, EOS, etc… platforms. This creates the potential, for example, for a decentralized social network like Steemit, to compete with Google or FaceBook. Everyday people can now have the opportunity to capture the value of their network, making $ and also giving rewards to those using the network. Essentially everyone is getting paid for posting their thoughts/ideas/info on the network.
  2. A token is fungible or non fungible digital asset created on Ethereum or other blockchain platforms.
  3. You create a token using a smart contract.
#3390

  1. What are the benefits of web 3.0 (decentralized internet)?
    Smart contracts can be used to incentivise positive participation and maintenance of the community, with less need for trust in the distribution of financial assets. The smart contract reduces the need to trust middlemen in the community.
    The decentralisation comes with low barriers to entry, anyone can build smart contracts.
    The contracts that run things are transparent which make trustless privacy possible.

  2. What is a token?
    A token is a programmable digital asset built upon a smart contract platform.

  3. How do you create a token on Ethereum?
    Write a smart contract that defines the parameters and rules of the token. Usually a good idea to make the token compatible wit the ERC20 standard.

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#3391
  1. Web 3.0 is decentralised with a broader distribution of value. Value is in protocol and community driven content. When compared with the old system, Web3.0 could be viewed as more private and secure.
  2. A token represents a unit of value. The value of a token may represent a tangible item, a credit of some nature, or perhaps a power or authority of some sort.
  3. A token may be created using ethereum’s smart contract function.
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#3392
  1. What are the benefits of web 3.0 (decentralized internet)?

A decentralized internet would allow smaller companies to compete with large corporations like WhatsApp, Facebook, and Google. And it would also provide Increased peer-to-peer transactions with no middle man on the internet.

  1. What is a token?

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

  1. How do you create a token on Ethereum?

A token can be created by implementing a smart contract using one of the token standards like ERC20, ERC721, and ERC1155. The smart contract needs to be coded using Solidity which is the programing language of Ethereum.

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#3393
  1. Many dapps are being created and in this way money isn’t monopolised by giants such as Google and Facebook because smaller companies can begin to compete with them.
  2. It is either a fungible or nonfungible digital asset which is created on the Ethereum network or another network.
  3. It is a smart contract or dapp using the same standard as Ethereum and coded using solidity. They can have their own use-cases as well.
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#3394
  1. Web 3.0 adds decentralization to the web and reduces monopoly. There is equal participation.
  2. A token is an asset built on another blockchain. For exam ERC20 tokens built on the ethereum blockchain.
  3. Tokens are created on ethereum by writing a smart contract that enables users to communicate/interact with the blockchain.
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#3395
  1. Many applications can be created with unique economies and own tokens
  2. It’s a fungible item, used in the economy of the application that it was created for.
  3. By creating smart contracts on top of the Ethereum network
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#3396

Homework Answers:

  1. One of the benefits is the provision of a new economic model that incentivises adoption by rewarding users, unlike the web 2.0 model that gave most value to the giant corporations
    2.A token is a Dapp built on the Ethereum block chain use as value.
    3.Token is Created by coding a smart contract using a specific ERC standard
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#3397

  1. It levels the playing field enabling small players to create value and be rewarded with equal opportunity

  2. A token is a smart contract buillt on top of a layer 1 blockchain such as Ethereum, or Cardano

  3. With Solidity, smart contract programming language

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#3398

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

  2. What is a token?
    Smart coin in other words it’s handled and generated through smart contract.

  3. How do you create a token on Ethereum?
    Through SC

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