Homework: Web3.0 and Tokens

What are the benefits of web 3.0 (decentralized internet)? early adopters can get ownership of the tools that make Web 3.0. Also, it will be less likely for large tech monopolies to have control over data and censorchip.
What is a token? its created on a platform like Ethereum, which has a specific utility and a community behind it.
How do you create a token on Ethereum? through a smart contract.

1 Like

1.- Benefits of Web 3.0 are protocol level value capture, more control and power over data for individual users.
2.- A token is created on a smart contract or dapp in a blockchain like ethereum and can represent anything.
3.- To create a token in ethereum can be easy if you follow these steps: https://moralis.io/how-to-create-ethereum-tokens-in-4-steps/ :wink:

1 Like

1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0: most of the value is captured at a protocol level, in web 2.0 none of the value was captured at a protocol level, all value went to apps like Google and Facebook etc. A added bonus to this is that Google and Facebook will no longer be in control of the user data because web 3.0 will eliminate intermediaries from the equation.

2. What is a token?
A token may represent a company’s share that maybe a tradable asset as well as being a smart contract giving access to products and/or services.

3. How do you create a token on Ethereum?
a. Decide what you want the token to be.
b. Code the contract using standard functions, ERC-20 if you want a fungible token or ERC721
if you want a non-fungible token.
c. Test the token on the TestNet.
d. Verify the source code.
e. Get it on the MainNet
f. Get if verified on Etherscan.

1 Like

1- The benefits of Web 3.0 is the possibility of capturing value on the protocol level. Thus allowing early adopters to gain more value on such a move.
2- A token is a smart contract or dapp that runs on a certain protocol in this case all ERC20 tokens that run on the Ethereum network.
3- To create a token on the Ethereum network you just need to copy the ERC20 standard which will operate your token on the Ethereum network.

1 Like
  1. Web 3 allows for the capture of value at the protocol level. It also provides a way for unique economic models to be utilized where value is allocated at the creator/based level rather than it being captured by a centralized entity/administrator
  2. A token is a type of digital asset (fungible or non-fungible) which is in the form of a smart contract built on top of ethereum or another layer 1 blockchain
  3. A token is created on ethereum by creating a smart contract under ERC-20 standards
1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?

Small companies/startups/individuals can compete with large corporations like Google and Facebook. You can incentivize people to be early adopters because of economical incentives.

  1. What is a token?

A token is a digital asset created by platforms that build on top of blockchains. Tokens can be held for value, traded or staked.

  1. How do you create a token on Ethereum?

With a smart contract

1 Like

-With a decentralized internet everybody will have the opportunity to compete to make better web services on the web.
-A token is a programmable asset that does not have its own blockchain network.
-You can create different types of tokens on the ETHEREUM network like ERC20 or ERC 721, this is by coding in solidity language a set of smart contracts.

1 Like
  1. There are incentives (earning money) for being early adopters of social media platforms. This allows small businesses and people to earn money not just monopolies such as Google.
  2. A token is a currency that is specific to a certain application.
  3. A token can be created using smart contracts on Ethereum.
1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?

Web 3 makes free flow of value possible, it makes the Internet more transparent and removes the need for intermediaries.

  1. What is a token?

It is a digital asset created with a smart contract. It can be fungible or non-fungible.

  1. How do you create a token on Ethereum?

Creating a smart contract using ERC20 protocol.

1 Like
  1. the creators of the protocols i.e. eth neo eos chain that offer a smart contract platform that enable dapps to utilize them, the protocols themselves earn value equivelant to the dapps built upon their network unlike web2.0 where the creators of html c++ never made their share of value that fb twitter ggl made off of them and so the internet sys that way is centralized.
  2. a cryptocuurency running on a smart contract blockchain like ethereum
  3. using simple code
1 Like
  1. all platforms can compete with each other for early adoption with a financial incentive in the form of collecting tokens
  2. currencies created using the erc20 standard (fungible)
  3. using smart contracts on the eth platform (erc20 standard)
1 Like
  1. Removes the monopole from big corporations. Allows peer-to-peer money (token) transactions, without middlemen. Everyone can participate.

  2. A token is a unit of value used on top of the blockchain network. It can be fungible or non fungible.

  3. Tokens on Ethereum blockchain are created through smart contract using Solidity programming language. The code should follow the standard coding convention in order for the tokens to be able to interact with wallets, exchanges…

1 Like
  1. A decentralized internet will give opportunities for smaller companies to compete with larger companies. Also it gives incentives to earlier adopters.

  2. A token is a fungible or non fungible digital asset

  3. A token is created using smart contracts.

1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?
    With the Web 3.0 small businesses have a chance to compete eith the giants. By using an own currency and the posibility of value-growing of htis currency, businesses cann incentivize early-adaptor to use their dapp. There is a real chance to develop a new product.

  2. What is a token?
    A token is the currency of a dapp which is built on the ETH-protocol.

  3. How do you create a token on Ethereum?
    You program tokencontact with the ETH-Standard, for example ERC-20.

1 Like
  1. A decentralized internet would give the opportunity for smaller companies to compete with large corporations like Google or WhatsApp. Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens than later in a platform’s life cycle when adoption has increased and the value of those tokens have as well.

  2. A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (Ethereum, Binance, Polygon etc)

  3. A token can be created on Ethereum using a smart contract

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

I believe from the conversations and my own experience is that they will allow us to provide us some chances to develop new applications on top of what is existing. Hence, the common people would be able to interact to more things that are currently not available due to some sort of censorship such as the google search engine

  1. What is a token?

A token is a fungible or non fungible item build over the ETH architecture that takes advantage of the EVM network to make the transactions.

  1. How do you create a token on Ethereum?

You could start with a smart contract programmed in solidity, paying the gas fees and programming it with corresponding ERCs

1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?
    You can take ownership of your own created values and monetize on it without relying on a certain person or company.
  2. What is a token?
    It is a smart contract(s) built on top of Ethereum that define their own business model and ecosystem.
  3. How do you create a token on Ethereum?
    By creating a smart contract on the Ethereum network and following the specified protocols, such as ERC20 for fungible tokens.
1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 is geared towards a more person centric and far more autonomous experience by providing the following benefits:
    i.) Ownership of Information or Data:
    You retain ownership and control of your data

ii.) Access to Information:
Ability to access the data from anywhere at any time

iii.) Elimination of the Central Point of Control:

iv.). The Permissionless Blockchain:
Anybody can create an address and interact with the blockchain network.

v.) Uninterrupted Service

  1. What is a Token?
    In general, a token is something that represents something else, physical or virtual. In the blockchain space a tokens are a type of cryptocurrency that represents an asset or specific use in a blockchain’s ecosystem.

  2. How do you create a token on Ethereum?
    Tokens are created by using a smart contract using Solidity that meets the ERC20 standard (or any other ERC standard such as ERC721 or ERC777)

1 Like
  1. What are the benefits of web 3.0 (decentralized internet)?
    Compared to Web 1.0 and 2.0, it can be a source of economy.

  2. What is a token?
    A smart contract using ETH blockchain to be used. There is fungible token (ERC20) where 1 token equals 1 token) and non-fungible (ERC721 and ERC1155) on that each NFToken is unique (gaming item (shield, gun, etc…), music set, piece of art, picture and so on).

  3. How do you create a token on Ethereum?
    You just have to create a smart contract and putting it on ETH blockchain, on EVMs.

1 Like
  1. Web 3.0 enables being rewarded for adding contents as well as leads to less censorship thanks to blockchain immutability.

  2. A token is a fungible or non-fungible asset created on top of a blockchain network such as Ethereum.

  3. A token on Ethereum is created by implementing the smart contract codes such as ERC20 protocol.

1 Like