Homework: Web3.0 and Tokens

Ethereum 101
#3459

  1. One aspect is that early adopters will benefit financially while Simultaniously helping small businesses to grow and compete with Big Tech. Also there is value to be made on the protocol level rather than only on the applicational level.

  2. Fungible or non fungible tokens are a digital assets, that are managed by a smart contract, created on the Ethereum blockchain for example.

  3. A token can be created by programming a smart contract on the Ethereum blockchain, using either the ERC20, ERC721 or ERC233 standard.

1 Like
#3460
  1. In web 3.0 there’s an incentive to be an early adopter, hence the reward decreases over time but the value increases
  2. A token is a fungible or non fungible asset created on a blockchain (like Ethereum etc.). Tokens can have equal value (fungible) which will be applicable for rewarding users for actions or different values (non fungible), which is suitable for games where tokens could represent weapons, armor etc. that has different values.
  3. A token is created using a smart contract, in either of the formats: ERC20 (fungible), ERC721 (non fungible)
2 Likes
#3461
  1. What are the benefits of web 3.0 (decentralized internet)?
    Strong incentives for early adopters. Increases competition and challenges monopolies (Google, Facebook, Amazon etc).
  2. What is a token?
    A token is the economic incentive to participate in the DAPP on the ETH blockchain. It can be fungible or non-fungible.
  3. How do you create a token on Ethereum?
    Through Smart Contracts/DAPPS on the blockchain.
2 Likes
#3462

  1. Web 3.0 puts the value into the protocol as opposed to large centralised entities such as Facebook, Google or Youtube etc.

  2. A token is something built upon an existing blockchain such as an ERC-20 token built upon Etherium which would itself be referred to as a coin.

  3. A token is created through a smart contract.

2 Likes
#3463

Homework on Web 3.0, and Tokens - Questions

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

  • It offers economic incentive at the protocol and application layer unlike the current Web 2.0 model
  • Economic incentives are not only possible for the application but also the user can earn value by adoption
  • The user becomes incentivized in a more meaningful way which can gain value over time if the adoption increases to scale

2. What is a token?

  • A unit of value which is inherited from the concept of Ethereum, a token can duplicate the same functionality of ETH and customized within the ERC20 standards

3. How do you create a token on Ethereum?

  • By deploying a smart contract to the EVM by adhering to the ERC20 standards
2 Likes
#3464

  1. What are the benefits of web 3.0 (decentralized internet)?
    First of all it’ll be descentralized. In the early days of the web 2.0 there were a myriad and diverse websites of all kinds. As time has passed, nowadays the web has been reduced to a much fewer but giant sites such as Google, Amazon, Facebook and so on. They are centralized and are monopolies. The only way to demonopolize them is with descentralized applications. That’s when a network like Ethereum can disrupt today’s environment. Investing in Ethereum is as if were able to invest in the protocols of the web 1.0 (http, TCP IP) where the web 2.0 were built, but besides that. The Ethereum Netwok will capture value from future DAPPs that will be developped.

  2. What is a token?
    A Token is an standarized smart contract that can perform like a cryptocurrency, but also can proppel the DAPPs by providing the needed niche economics.

  3. How do you create a token on Ethereum?
    By creating a smart contract and adopting the standars of the typo of token I wish to create

2 Likes
#3465

  1. It demonopolizes the internet and reduces manipulation of users for financial gains and censorship.

  2. A token is a fungible or non fungible digital asset created via smart contracts built on a platforms like Ethereum with its own functions, utilities and economics.

  3. A token is created on the Ethereum network by writing its code as a smart contract with all the details needed.

3 Likes
#3466

  1. Decentralised web give opportunity for independence from major corporation.

  2. A Token is a smart contract that includes address in their balance.
    Tokens can represent physical object , monetary value or holder reputation.

  3. Tokens can be created on Ethereum as a smart contract.

2 Likes
#3467

1. What are the benefits of web 3.0 (decentralized internet)?
The financial value is on the protocol.
Websites can be build on smart contract plattform like Ethereum.

2. What is a token?
A token is a digital asset build on with smart contract on top a plattform like Ethereum.

3. How do you create a token on Ethereum?
A token on Ethereum can be created by coding it with solidity as a smart contract and using standards like ERC20.

2 Likes
#3468

  1. Wed 3.0 allows for a decentralized system that incentivizes community members involved in a project (creators, users etc…) and a more democratic system that that which currently exists in which monopolies on information and control are vested in large corporations who run and control apps like Facebook.

  2. A token is a digital asset that can be representative of any number of things such as money, reputation, participation etc…

  3. A token on the Ethereum blockchain is created using the ERC-20 standard

1 Like
#3469
  1. What are the benefits of web 3.0 (decentralized internet)?

Value and money on protocol level. Economic incentives for the first people joining the program (rewarded with more tokens in the beginning which could increase in value over time). You can earn tokens using web 3.0.

  1. What is a token?

Smart contract that represents a fungible token or non fungible token, a digital asset that is built on top of an existing blockchain.

  1. How do you create a token on Ethereum?

You write a smart contract in the Solidity programming language using a ERC 20 standard.

1 Like
#3470
  1. Decentralization, opportunity for smaller companies and individuals to compete with big companies, the possibility to earn value on the internet.
  2. a token is a digital asset created by a smart contract.
  3. by creating a smart contract, using the ERC20 standards
1 Like
#3471

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

a. The benefits of web 3.0 are funneled to the protocol. Instead of only the applications being the biggest beneficiaries, like web 2.0, the network protocol gains benefits with use. It allows investors in purchase a stake in the network, which is why Ethereum has the second largest market cap.

2.What is a token?

a. Usually derived for purpose of economy. One can earn them, trade, or purchase to acquire. Truly, a digital currency.

3.How do you create a token on Ethereum?

a. On the Ethereum network specially, one would use ERC20 for a fungible token or ERC721 for a non-fungible token. Generally, created through a decentralized application built onto the network. Tokens can have many different purposes and values.

1 Like
#3472

Homework on Web 3.0 and Tokens - Answers

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

Web 3.0 is an infrastructure that allows for centralised distributed websites and apps, and decentralised ecosystems, smart contracts and dApps. This has already begun to benefit humanity with ecosystems where the value of all manner of earthly value is being digitised and can be exchanged and traded in a trustless, secure, and transparent way. It gives humanity a chance to construct a world where the conventional middlemen of traditional and current times can be replaced by autonomous, trustless computer networks transparently operating and ubiquitously accessible.

2. What is a token?

A token is a fungible or non-fungible asset created on a blockchain. Fungible tokens are all identical and can be divided and exchanged/traded into infinitely small sections. On the other hand, Non-fungible tokens are all unique in attributes, and hence value. These are currently gaining popularity in use as
• Digital avatars granting unique membership access and programmed with unique attributes (e.g. membership benefits)
• Or unique items in games where NFTs are seen as the gateway to an entirely new digital gaming economy

3. How do you create a token on Ethereum?

A token is basically
• a smart contract on the network containing the solidity code for how the operations of the token are done on the network’s blockchain and
• the token addresses that the smart contract interacts with
• and their balances.
Code written to the ERC20 standard is utilised for the creation and operations of fungible tokens. Smart contracts written to the ERC721 or ERC1155 standard are used to create non-fungible token ecosystems

1 Like
#3473

  1. users can financially benefit from using the network instead of all the money being absorbed by app-making companies.

  2. a token is a digital asset for an app existing on a particular blockchain.

  3. Tokens on Ethereum are made by the erc-20 standard within a smart contract. All the details of the token are specifically coded into that origin smart contract.

1 Like
#3474

1,no central authorities, censorship incentives for good content, value to protocol
2,smart contracts built on ethereum network
3,erc20standard

1 Like
#3475
  1. What are the benefits of Web 3.0 (decentralised internet)? Small companies could easily start competing with large tech giants since users of the network are economically incentivised by using the network. Its easier to grow a network effect if all participants (especially early adopters) benefit by using the network and engaging on it.
  2. What is a token? A token is a Smart contract or DAPP build on the Ethereum blockchain. It gives participants the ability to engage on the network by using tokens.
  3. How do you create a token on Ethereum? You can create a token on Ethereum by using the ECR20 code for Smart Contracts.
1 Like
#3476

What are the benefits of web 3.0 (decentralized internet)?
Monopoly of few companies will cease to exist which promotes privacy, security and innovation. Underlying protocols will be able to generate money unlike in Web 2.0.

What is a token?
Token is built on smart contract platforms like Ethereum, EOS etc. It’s a programmed money of fixed supply based on set standard format smart contract.

How do you create a token on Ethereum?
Tokens are created by writing smart contracts by hard coding the logic and number of tokens.

1 Like
#3477

  1. What are the benefits of web 3.0 (decentralized internet)?
    a. All developers have the opportunity to earn value for their input to society

  2. What is a token?
    b. A token is a digital asset that runs on the Ethereum network

  3. How do you create a token on Ethereum?
    c. By creating a smart contract on Ethereum’s platform.

1 Like
#3478

  1. The chance to compete with big players like facebook, twitter,… through some defi projects. And no middle man between txs.

  2. Programmable application for example on ethereum like the ERC20 tokens or smart contracts

  3. You can use the ERC20 standards or create a sc

1 Like