Homework: Web3.0 and Tokens

Ethereum 101
#3600

  1. its endless benefits for the average population. gives everyone a more equal possibility to share the wealth generated by the internet.

  2. its digital code used as an asset for the ones holding it.

  3. you write a smart contract with one of the ER standards built in to the code.

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#3601
  1. What are the benefits of web 3.0 (decentralized internet)?
    -The benefits of Web 3.0 that early adopters are incentivized. If any of the DAPPS on Ethereum succeed theoretically, Ethereum will succeed as well. Unlike Web 2.0 where users of html and java weren’t rewarded for adoption of the internet. Tech Giants were rewarded for the adoption.
  2. What is a token?
    -A token (fungible or non fungible) is a digital asset built via a smart contract application such as Ethereum.
  3. How do you create a token on Ethereum?
    -A token be created using a smart contract.
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#3602

1.Helping small businesses grow with the early adopters.
2. Token is either a fungible or non fungible digital asset/cryptocurrency created on a blockchain network.
3. Token can be created using smart contracts.

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#3603

  1. With Web 3.0 developers can now create money.

  2. A token is a cryptocurrency built on top of Ethereum.
    Ethereum is a coin.

  3. By using standard code a token can be created as
    a smart contract on top of Ethereum.

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#3604

  1. The benefits of Web 3.0 are the ability for anyone to access any information at any time. IT also allows users to receive value for their contributions, unlike the current system where the Tech giants suck all the value from the internet.

  2. A token is built on an existing blockchain. Tokens are technically smart contracts that can be programmed for specific uses. Most popular is ERC20

  3. It is relatively easy to create a token on Ethereum by using the ERC20 standard and creating a smart contract.

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#3605
  1. The benefits are that there is incentive and it attracts more people to use it. There is full transparency so that everyone can see, there are no middlemen so it is cheaper.
  2. A token is a currency based on an actual coin. It has a smart contract that handles it too.
  3. A token is created by using a smart contract through a standard code like ERC20.
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#3606

The benefits are: lower barriers to entry, higher level of competition, no middlemen.

It is a digital asset on the top of a blockchain.

You need to create a token. For you need to deploy a smart contact that follows the standards of the type of token (ex. ERC20)

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#3607

  1. The benefits of Web 3.0 decentralised internet beside that is more secured and transparent by
    using blockchain protocol network also early adopters do get incentivized by the reword
    for using and contributing to the network . In Web 3.0 value is captured at the protocol level
    unlike Web 2.0 where all the value went to the giant tech corporations which were building the
    applications (Google, Facebook, Whats app…) on top of the internet protocol (http, tcp) which
    failed to capture any.

  2. Token is smart contract under which it is programmed digital asset, different unit of value (
    money, gold, objects, art, right to execute some operation ) built on top of the blockchain
    protocol network like Ethereum, EOS, NEO, ADA now :slight_smile:

  3. Token on Ehtereum is created by deploying the smart contract written in Solidity digital
    language under the same token standards followed by programmers while creating,
    ERC20 standard for fungible/ identical in value tokens or
    ERC721, ERC721 etc. for non fungible tokens / each unique tokens / NFT’s
    It actually represents new cryptocurrency of its own.

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#3608

  1. It created a web that with a fairer reward system, that provide incentives to early adopters of new community / organization to help growing it base on its content and contribution to the network. Instead of censorship or limitation from big players in the existing markets.

  2. Token is programmable digital assets. Fungible ones are like currency, non fungible ones are like a hard asset, like a drawing, painting, art

  3. By writing smart contract with common used ETH standards

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#3609

  1. WEB 3.0 offers a new world of economic incentives where value is captured at the protocol level. It also is a paradigm shift in how economy works in which early adopters of a value adding asset are incentivized early on.

  2. A token is a representation of a digital asset based on a smart contract which is at the core of the economy built around such an asset.

  3. Tokens are created using ERC token standards like ERC-20 for fungible tokens, ERC-1155 and ERC-71 for non-fungible tokens.

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#3610

  1. The decentralized internet will provide opportunities for small businesses to compete with big businesses. Early adopters are incentivized to use the new platform because they will be rewarded with a higher number of tokens than later in the lifecycle of the platform when adoption has increased and the value of those tokens has also increased.

  2. Tokens are digital cryptocurrency assets (which can be used as decentralized digital currencies, as points of community loyalty, as assets and more) developed using smart contracts (ethereum, EOS, Tron, BSC etc.)

  3. How to make a Token on Ethereum can be through the etherium remix web application.

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#3611

Homework on Web 3.0, and Tokens - Questions

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

In Web 3.0, by investing in the protocol you can make money, there is an incentive layer built in - it is a trustless peer to peer system

  1. What is a token?

A token is built on top of a coin - like ether on Ethereum

  1. How do you create a token on Ethereum?

A token is built on the Ethereum network using the ERC20 standards - this allows the token to integrate and interrelate with others without conflict

Cheers :woman_cartwheeling:

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#3612

1 with web 3.0 we can now program value into code
2 a token is value that is on the blockchain
3 you can create tokens with smart contracts

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#3613

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of Web 3.0 (decentralized internet)?
Some of the benefits of Web 3.0 are that the network is not centrally controlled and protocols have been monetised, making it financially beneficial to adopt a network or protocol rather than just the application layer above it. (eg. nobody pays to use http or tcp protocols but all the applications earning on the web are utilising their services to enable their online sales)

Web 3.0 is decentralized which means there is no single point of governance over how the network will perform or interact with users and developers. It also means that the value and use of assets cannot be controlled by a single or centralised governing body that may not have the best intentions for the users. Being decentralised means that all the nodes (computers) that are running and connecting the network (miners/stakers) are providing that governance so it is not able to be changed without the consensus of all of the nodes, generally taking the majority agreement when changes are required… causing possible forks but thats another subject, lol

Centralised networks operate under the control of single governor or small board of governors that are take decisions on how all the operators and users of the network will act, with the ability to remove access to the network and/or assets if not complied with. Banking networks and systems are perfect example of this and why the traditional financial industry is becoming very nervous about this new emerging Fintech revolution that is Decentralized.

2. What is a token?
A token is a digital asset created on a network, these can take 2 forms:

  • Fungible Token - Each token is the same, there is no difference in value or form between each minted token.

  • Non Fungible Token (NFT) - Each token can be different, they do not have to be the same in content. Even if there are 2 NFT’s of the same image for example, there would still be a difference as the NFT minted 1st would be seen to have more value that the same NFT minted 2nd when there is a collection of only 2 of 2.

The Smart Contracts and type of token created will determine its fungibility, market value and use on the network.

3. How do you create a token on Ethereum?
A token can be created on Ethereum by using a programming language to compile a Smart Contract using one of the set standards of the network (eg. ERC20, ERC721 and ERC233).

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#3614

  1. They are decentralized and accessible to everyone.

  2. Tokens are programs built on top of a “coin”, or the main network.

  3. Tokens are created through code(smart contracts) and they incorporate a standard protocol.

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#3615

  1. The develop of new websites of small companies by incentivating the users with tokens when they use the site.

  2. It is an object that has a value. It can be a fungible token or a non fungible token (NFT).

  3. By programming an smart contract that runs over a new token (it may be called “coin”).

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#3616

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

Web 3.0 gives us the power of decentralization, where small startups would be independent from big corporation. They can attract new users onboarding by offering reward based financial incentives. So they can grow from scratch. It was very much difficult in web 2.0.

What is a token?

Token is a Cryptocurrency that built using smart contracts and run on Layer 1 protocol such as Ethereum, EOS etc.

How do you create a token on Ethereum?

A Token can be created on Ethereum using smart contracts and following the ERC20, ERC721, ERC1155 standard to be consistent and interoperable.

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#3617

  1. Web 3.0 is decentralized and values are captured in the protocol level and early adopters are incentivized.

  2. Tokens are cryptocurrencies that are built on top of blockchains using smart contracts.

  3. Using smart contracts following certain token standards, e.g. ERC20, ERC721 & ERC 1155

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#3618
  1. Web3 captures value on the protocol level.
  2. A digital asset created on a blockchain like Etherium.
  3. You write the code, a smart contract, to create the token
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#3619
  1. The creators of the protocol are incentivized as the use of the protocol is adopted. The decentralized model where users need and hold token or coins also gives continuous incentive for the users of the network.
  2. A token is an object created on top of the Ethereum blockchain which can be used in dapp’s digital offerings.
  3. Write a smart contract in Solidity using the ERC20 standard.
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