Homework: Web3.0 and Tokens

[Rocketman]

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

Web 3.0 has both centralized websites and decentralized websites and dapps. With Web 3.0 you have different websites on the internet that now can have their own cryptocurrencies, their own economic and financial incentive model that were built on Ethereum, EOS, NEO or some other smart contract platform giving a whole new dynamic to the internet allowing small companies and start ups to compete against the large corporations for example by using economic incentives to attract early adopters to compete against the giants because everyone wants to make money.

2. What is a token?

Tokens are a deployment of smart contracts on the Ethereum blockchain or other smart contract platforms that represent their own cryptocurrencies. Ethereum is a coin and all other cryptocurrencies on top of Ethereum blockchain are tokens.

3. How do you create a token on Ethereum?

A token can be created by using solidity and deploying a smart contract on the Ethereum blockchain or other smart contract platforms by using one of the token standards which will be executed by the EVM on the blockchain. Such as the most popular token standard being ERC-20 which is referred to as a fungible token which means all the tokens are the same, no difference and all have the same values. There are also non-fungible tokens called NFT’s which are used in games to represent different unique items which use two different standards being ERC721 and ERC1155.

[Adidre]

1. The benefit of web 3.0 is that it incentivizes the creators and users and thus promotes competition

2. A token is a digital asset that can be programmed to represent anything of value

3. You can create a token on Ethereum by using the ERC20 token standard or the ERC721 if you want to make an NFT

[Artrex_G]

1.- You can spend money and it will be for differents creators not only helping the big companies, also making growth a community

2.-Is a valuable currency that have a value deppedning on offer and demmand.

3.- Writing smart contracts by code.

[Renji]

1. Monetization of dapp use for the site owners, incentivization of early adoptors. Money as a layer on the internet and increased p2p operations eliminating the need for middlemen.
2. A token is programmable digital asset either fungible or non-fungible, making it replicable in the case of fungible tokens and authenthic in the case of non-fungible tokens such as NFTs. Both of which need to based on a blockchain such as Ethereum or Binance Smart Chain. The token is a abstraction for a concept and/or solves a problem and/or represents something/nothing.
3. Create a smart contract and use of ERC20 standard.

[Mlud]

1. What are the benefits of web 3.0 (decentralized internet)?
   Decentralized websites/internet, which gives nascent companies the opportunity to compete against big tech firms. This also allows for decentralized finance and its concomitant benefits (transparency, privacy, decentralization, no middlemen, etc.).

2. What is a token? A token is a cryptocurrency built on top of a protocol platform using smart contracts (e.g., Ethereum).

3. How do you create a token on Ethereum? By coding a smart contract based on the appropriate token standard for the specific use case (e.g., ERC20, ERC721, etc.).

[jsilver]

1. Web 3.0 benefits are that there are now capabilities for anyone to engage in activities that were typically reserved for large scale organizations that have the capital to invest. Said differently, the economic rents collected for back-end operations are being decentralized allowing for a federated group of people to benefit in lieu of a smaller group of large companies.
2. A token is a protocol built on top of a blockchain, that is not native to that blockchain.
3. A token can be created on Ethereum by implementing code in line with the defined ERC standards.

[B_S]

1. A decentralized internet allows value to be captured in a more decentralized way, i.e. small businesses and individuals can compete on an ecosystem level with giants like facebook, google, etc. as long as they have a viable model that can be deployed on a decentralized network

2. a token is currency / digital asset used in an ecosystem, e.g. so many dapps built on top of ethereum or steemit (as referenced in vid)

3. to create a token on ethereum, you program a new smart contract to mint your token as one small part of a broader implementation of your economic model … i looked up a tutorial to try to understand that well enough to post it back here, but … nahhhh, fam…we’re not in programming class yet!

[CoachPA]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
   A decentralized internet would give the chance for smaller companies to compete with larger corporations through better privacy, security and new ideas. Protocol layers will have the opportunity to generate revenue, unlike in web 2.0 with http and tcp

2. What is a token?
   Tokens (fungible or non-fungible) are digital assets built on a blockchain network using smart contracts

3. How do you create a token on Ethereum?
   Tokens are built on ethereum using the standards for smart contracts. It is then executed by the EVM and validated by the ethereum network

[zanbrojen]

1. Protocols gain value here not just platforms. you can create your own tokens and coins as well.

2. type of crypto that is fungible or non-fungible smart contract existing on the ethereum network.

3. create a smart contract based on the ERC-20 standard on the ethereum network.

[Dale23]

1. With web 2.0 most of the value is captured by a few large apps like Google and Facebook. With web 3.0 it should be possible for many DAPS to capture value and the Web 3.0 protocol (Ethereum) will increase in value when the DAPS are successful. Small DAPS have a chance to capture value from the large Web 2.0 apps because there is incentive for people to be early adopters.This new economic model is made possible with cryptocurrency.
2. A token is a cryptocurrency made from a smart contract on top of Ethereum. Tokens can be fungible (ERC20 tokens), or Non-fungible (ERC721 and ERC1115)
3. First create a smart contract on the Ethereum network. Then within the smart contract you can create its digital asset, the token…

[PaulS96]

1. web 3.0 should bring more decentrilisation away from current tech giants.
2. A token is made from a smart contract on top of an existing chain like Ethereum. It can be fungible or non fungible.
3. Create a smart contract on the Ethereum Blockchain. If ikt is a fungible token it has to follow the ERC-20 standard. For non fungible tokens there are the standards ERC-721 and ERC-1155.

[Ishiki]

1. What are the benefits of web 3.0 (decentralized internet)?
   Using financial incentives, platforms/creators can now incentivize early adopters to spread the word easily. No middlemen in financial applications. People can make real money for their effort and value created. Transparency and privacy are both enhanced. For example, you can use defi without KYC, but you can still trust the system due to its coding (transparency).

2. What is a token?
   A token is a smart contract built on ethereum.

3. How do you create a token on Ethereum?
   Using the ERC 20 standard.

[Alfonso_G_Teran]

1. Web3 helps eliminate non-value-adding middlemen, eliminate the risk of centralized server failures, and enable users to fully own their own data.
2. A token is a unit of value.
3. On Ethereum you create a token deploying a smart contract, normally you use a Standard such as ERC20 (fungible), or ERC721 and ERC1155 (NFTs)

[aidnii]

1. The benefits of web 3.0 (decentralized internet) are that you have more decentralized websites and dApps being developed. More companies are able to create their own tokens which can increase the value of that company. Also, web 3.0 is more secure than 2.0.
2. A token is built off of the Ethereum platform and are considered all the same, such as being classified as a currency.
3. You can create a token on Ethereum by using the ERC-20 software to program a token using Solidity.

[IntrepidShape]

1. What are the benefits of web 3.0 (decentralized internet)?
   A trustless system of tokenization of assets and resources.

2. What is a token?
   A representation of value, an asset or a resource

3. How do you create a token on Ethereum?
   By writing a smart contract such as an ERC20 contract that mints them, or Minting them from within a pre-existing contract.

[Nedu]

1. The benefits of Web 3.0 include:
   a. Increased information linking
   b. Efficient searching
   c. Better marketing
   d. More efficient web browsing
   e. Effective Communication
   f. Change in human interaction
   g. Use of Centralized and Decentralized applications etc.

2. In the Blockchain ecosystem, it is any asset that is digitally transferrable between two people.

3. You can create a token on Ethereum by following the ERC-20 standard.

[Slavy]

1. No middle man, protocol makes money and not the apps (google, fb…). Earldy adopter get paid to use a new platform.
2. A token can be fungible or NFT that is developed on smart contract such as eth, eos, trx,…
3. By smart contract standard erc20 (fungible), erc721, erc233 (NFT).

[chrisb]

1. Web 3.0 gives the average person the opportunity to invest in different protocols and eliminates the need for central authorities like big tech and banks.
2. A token is a fungible asset that is build on a blockchain like Ethereum.
3. Tokens are created by writing smart contracts that meet the standards and parameters of a particular blockchain.

[Bsse]

A decentralized Internet will be a revolution. Why ? Well, by telling the people that they always have had the power, they will feel more confident in themself, and will bring down the Tech Giants. There will be more opportunities for everyone. Being an Early adopter has its perks, considering that the are monetary incentives. A token is built on top of a Base Blockchain. For example, at the time of the writing, there are a lot of Tokens built on top of the Ethereum Blockchain, and its the main Smart Contract Operator (SCO). A token can be deploy so easily with few lines of code, but I recommend taking some time studying and doin research about all the danger that could/may impact your token. In the ETh BlockchainYou can implement three types of Token Standard (TS) the ERC-20, ERC-721 and ERC-233. Every TS has its pros and cons.

[spicydumpling]

1. What are the benefits of web 3.0 (decentralized internet)?
   • Decentralised applications that add value to the protocol.
2. What is a token?
   • A token is a currency that is built on the Ethereum ecosystem.
3. How do you create a token on Ethereum?
   • A token can be created by creating a smart contract using a token standard, such as ERC20 for fungible tokens and ERC721 --> ERC1155 for non-fungible tokens.