Homework: Web3.0 and Tokens

Ethereum 101
#3620

The benefits of web 3.0, a decentralized internet, is the same as the benefits of decentralization in general - less censorship, less middleman fees, more autonomy, etc.

A token is a fungible (interchangeable) or non-fungible (unique) asset that is used to represent a currency or other valuable, but is not the currency or valuable itself. In the blockchain space, tokens can be created on various smart contract platforms.

A token can be created on the Etherium smart contract platform using the ERC (Etherium Request for Comment) format - commonly ERC20 (fungible), ERC721 (non-fungible) or ERC1155 (for a contract that can do fungible, non-fungible or semi-fungible simultaneously).

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#3621

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

    • Applications build on web 3.0 (dapps) are able to build their own economic model on top of a blockchain (with its own benefits), enabling the possibilities to capture value for everyone which includes users of that application.

  2. What is a token?

    • A token is built on an existing blockchain usually having its own use cases for a particular application.

  3. How do you create a token on Ethereum?

    • To create a token on Ethereum, you have to transaction with the blockchain using a Smart Contract in defining the token and following the ERC20 standard.
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#3622
  1. What are the benefits of web 3.0 (decentralized internet)? Value can now be captured at the protocol level, incentivizing innovation
  2. What is a token? A token is a cryptocurrency built on top of a network on a smart contract platform or application
  3. How do you create a token on Ethereum? Using the ERC20 standard
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#3623

Wed 3.0 enables data and information to be shared and stored in a private and permission less system. This creates a system where institutional and individual participants can not only have ownership over their data but also create value and incentives from it.

Tokens are a digital representation of assets that are created and used on a native blockchain.

Tokens are created by coding a smart contract which follows one of the ERC standards and outlines the specifications and functionality of the token.

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#3624

1.early adopters are rewarded with incentives and are driven to promote platforms.
Enabling small company’s to compete with large ones due to their community’s of early adopters behind them with so called skin in the game in the for often rewards they hold.

2.a token is a currency written ontoo of the ethereum chain in the form of a smart contract.

3.a token is created on the ethereum blockchain by creating and deploying a smart contract programmed to be a currency.

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#3625

1- Web 3.0 gives equal opportunity to small company for enhancing their reach to large numbers of users, with web 3.0 their no need for any third party and it works on trustless way also very transparent.
2- Tokens are utility they developed for solving some kind of problems and built upon blockchain platform like Ethereum, Cardano or dot.
3- We create token on Ethereum using smart contracts.

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#3626

  1. A decentralized internet will incentivized user to use the new platform and the early the user involve the more rewards they get. This give smaller companies opportunity to compete with big player.

  2. A token (fungible/non fungible) are cryptocurrency built by using smart contracts.

  3. By using smart contract and the standards of ERC20 and etc. depending on the purpose of the token.

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#3627

  1. Benefits of web3.0 include but are not limited to bringing value to the base protocol, censorship resistance, cost effective and frictionless.

  2. a Token is a cryptocurrency that is build upon a base protocol like Ethereum, tokens have varous standards for its specific use case. The token standard could could imply if the Tokens are fungible or non fungible.

  3. Tokens can be created by using Token standards such as ERC20, ERC721, etc to create smart contracts for specific purposes.

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#3628

  • What are the benefits of web 3.0 (decentralized internet)?
    No centralized company will control the content, make all the money and use your personal data for their own benefits without you knowing about it. With a decentralized web, you as a creator can get rewarded.

  • What is a token?
    A token is a representation of a smart contract. They can be fungible (non-unique) or fungible (unique). They are used as programmable money (crypto currency).

  • How do you create a token on Ethereum?
    You mine, meaning execute mathematical calculations.

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#3629

  1. It has created a new framework for business models that is blockchain-based. As it’s seen on the Ethereum network, which holds and sustains several tokens and NFT projects, this dynamic is taking place in social networks and online communities. It benefits new creators or early adopters with incentives but also creates exponential growth in the networks by giving visibility to new projects.

  2. Is a smart contract that contains functions like holder address, balance, market supply, and tradable functionalities that can be used to sustain a project in the blockchain ecosystem.

  3. Using standard protocols determined by EVM, which works with Bytecode to create smart contract forms like ERC-20 for tokens and ERC-721/ ERC-1155 for NFT’s.

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#3630

  • What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 is where value will be captured, unlike Web 1.0 or Web 2.0.
    Decentralized websites and decentralized apps (dapps).

  • What is a token?
    It is a fungible/non-fungible asset built on the Ethereum network.

  • How do you create a token on Ethereum?
    You create your own token on the Ethereum network with a smart contract following the ERC20 standards.

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#3631
  1. Web 3.0 allows for smaller companies to compete with giant ones by incentivizing early adoption. Users of a network will be rewarded more to start and decrease over time. This also allows for the base layer protocol (Etheruem) to benefit from any Dapps built on top of it and users within the app can be rewarded in a decentralized way.
  2. A token is a smart contract built with a certain standard like ERC20 which would be governed by the underlying protocol’s coin such as Ether.
  3. Executing a smart contract on Ethereum using a standard such as ERC20 ERC721 or ERC1155
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#3632

  1. Three will be benefits of capturing economic value on a protocol level. Dapps will be able to reward the users instead of just the company that developed and launched the app. Early adopters will have the most reward once an app continues to grow and increase economic value.

  2. A token is a cryptocurrency that is layered ontop of a smart contract blockchain. There are different tokens, ERC-20 fungible token. Which is used as a currency. ERC-721 or ERC-1155 will be non fungible tokens, (NFT). These tokens are used in games as a digital asset.

  3. Tokens can be created by coding in solidity, on the smart contract blockchain. This is achieved by developing fungible and nonfungible tokens.

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#3633

  1. Web 3.0 allows for much of the monetary value taken up by big tech to be passed on to the user. It will see the formation of Dapps on the internet.

  2. A token is a cryptocurrency generated from Ethereum or another smart contract capable network.

  3. You can utilize a smart contract to create a token on Ethereum.

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#3634

  1. Early adopters benefit better than the late adopters.

  2. A token is a CC created on top an existing blockchain.

  3. Using a smart contract.

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#3635

  1. Web 3.0 allows credits to where credits due, you get paid for your work, and you are in full control of your privacy. Web 3.0 stops tech giants like FB, AAPL, AMZN, GGLG to continue to prostitute our personal data because with Web 3.0 we can achieve 0 reliance on them and we create own self-sustained ecosystem.

  2. A token is a currency or a unit of value used as a mean of transaction on SC or DApps. It can be used as currency (fungible, divisible) or a proof of ownership (NFTs).

  3. You can create a token on ETH through creating a token contract by using existing ETH token standards, ie ERC20, ERC223, ERC777 etc

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#3636
  1. The value is captured at the protocol level instead of at the application level (Google and Facebook) with Web 2.0. It also creates the opportunity for smaller companies and individuals to compete with large corporations because there are now economic incentives to receive rewards for their contribution to the network.
    1. A token is a digital asset, such as a coin, built via a smart contract that runs on top of a blockchain such as Ethereum.
  3. By applying the FT standard ERC20 and defining the smart contract through a series of logic and functions.
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#3637

  1. More freedom from censorship & authoritarian abuse. More security of information. More financial and information self-sovereignty. More incentives for individual productivity. This just scratches the surface.

  2. A token is essentially a more complex smart contract created on a blockchain that creates its own environment and use-cases. For example, Tron was initially a token on another blockchain, but the developers eventually broke off and created their own Tron blockchain.

  3. You can mint a token on Ethereum by writing a smart contract that fits into one of its recognized standards such as ERC20 etc.

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#3638
  1. The ability to gain profit form the protocol level and the democratization of the benefits achieved from the increase in adoption of the network.
  2. A token is a native cryptocurrency built on top of a protocol such as Ethereum
  3. You use the ERC-20 standard and create a smart contract and deploy to the blockchain.
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#3639

  1. Apparently the “correct” answer here would be to say that the benefits of web 3.0 are that it will be decentralized. Benefits include: a reduction in influence of massive corporations like Google and Facebook creating monopolies and capturing all value created on their platforms; a more egalitarian feel and utility of the internet instead of centralized power all in a few companies.

  2. A token in terms of Ethereum, is any dapp or another crypto created on top of the Ethereum network.

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