Homework: Web3.0 and Tokens

Ethereum 101
#3700

1. What are the benefits of web 3.0 (decentralized internet)?
Takes away control from monopolies and promotes choice.
2. What is a token?
A token is built on top of a coin like ethereum using smart contracts?
3. How do you create a token on Ethereum?
Create a smart contract that follows a token standard like ERC20.

1 Like
#3701
  1. Users can be rewarded for their contribution and the protocol is also gaining value. It will also end the virtual monopoly of big tech.
  2. A token is a crypto asset built on top of a blockchain platform such as Ethereum.
  3. A token on Ethereum is created by means of a smart contract and coded according to specific standards such as ERC20.
1 Like
#3702
  1. What are the benefits of web 3.0 (decentralized internet)?

Until now the value of creating something in the internet is captured by big companies like Facebook, Google, Twitter. With web 3.0 solutions the value can be captured by the creators. for example with Steem It the content creator and those who like contents can be valuable because web 3.0 value them in a decentralized way.

  1. What is a token?

Token can be fungible or non fungible digital asset.

  1. How do you create a token on Ethereum?

with smart contracts you can create token. and if you connect the smart contract with a web application and server it is a DAPP

1 Like
#3703
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Transparency;
  • Fewer Middlemen;
  • Privacy;
  • Data Ownership & Sharing;
  • Incentivize Creators

https://www.hiveblockchain.com/blockchain-101/what-are-the-benefits-of-web-30/

  1. What is a token?
    " Technically, “token” is just another word for “cryptocurrency” or “cryptoasset.” But increasingly it has taken on a couple of more specific meanings depending on context.
  • The first is to describe all cryptocurrencies besides Bitcoin and Ethereum (even though they are technically also tokens).
  • The second is to describe certain digital assets that run on top of another cryptocurrencies’ blockchain, as many decentralized finance (or DeFi) tokens do. Tokens have a huge range of potential functions, from helping make decentralized exchanges possible to selling rare items in video games. But they can all be traded or held like any other cryptocurrency."

https://www.coinbase.com/learn/crypto-basics/what-is-a-token

  1. How do you create a token on Ethereum?
    Step 1: Decide what you want your token to be;
    Step 2: Code the Contract;
    Step 3: Test The Token on The TestNet;
    Step 4: Verify the Source Code;
    Step 5: Get it on The Main Net;
    Step 6: Get it Verified on Etherscan.

https://steemit.com/ethereum/@maxnachamkin/how-to-create-your-own-ethereum-token-in-an-hour-erc20-verified

1 Like
#3704

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    To be a part of a growing market dynamically with the new concept of token economy

  2. What is a token?
    It is a digital asset (fungible/non-fungible) without its own blockchain running with a specific standard for example on the Ethereum SC platform

  3. How do you create a token on Ethereum?
    Via smart contracts

1 Like
#3705

Not technoly monopoly, benefit shared from all the components, int different way

Fungible or non-fungible digital asset who run on a blockchain

Creating a smart contract

1 Like
#3706

  1. You get rewarded for your contribution instead of a central authority.

  2. A token is a fungible or nonfungible store of value built with smart contracts.

  3. Tokens on Ethereum are made within smart contracts and typically follow a standard.

1 Like
#3707

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

It opens the market to any company to be able to compete with bigger brand names, Facebook, google

Early adopters are incentivized to use a new platform as they will be rewarded with Tokens, early adopters have the advantage to get more tokens than adopters joining late.

What is a token?

A token is a fungible or non-fungible digital asset created on Ethereum or other blockchain networks

How do you create a token on Ethereum?

A token can be created on Ethereum using a smart contract

1 Like
#3708
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 being decentalized, means no central point of Control. Ownership, Authenticity, transparentcy Universal Adaption.

2.What is a Token.
A Token is a Smart Contract written in code to function on a Blockchain.

3How do you create a token on Ethereum?
A token is Created, Compliled, Deployed, and Minted on the Ethereum Blockchain, using Solidity while keeping the Contract standards, via import.

1 Like
#3709

  1. It enables small companys to compete with the big player like meta or alphabet. They can creat there own eco system an dreward there users.

  2. A Token is currancy created through smart contract based on ETH . It stands for an abstraction or Value.

  3. Created through smart contract based on ETH .

1 Like
#3710

  1. What are the benefits of web 3.0 (decentralized internet)?
    Decentalization allows participation in a censorship free manner and allows the economic value to be captured by the participants rather than big companies that have monopol over Web 2.0 applications.

  2. What is a token?
    Digital asset or the digital representation of a real world asset deployed on the blockchain via smart contracts.

  3. How do you create a token on Ethereum?
    Using smart contracts and specific standards, ex ERC20, ERC721, ERC1155

2 Likes
#3711
  1. Web 3.0 would give use and permission access to a person with their own personal information; this would be done through the blockchain.
  2. A token is built on top of a blockchain. In Ethereum they are use to represent a DAPP. They are a more efficient and cheaper computational alternative to using say straight Ethereum.
  3. To create a token on Ethereum you could use a simple website, technically a Token would need to follow a specific standard; such as ERC20, which would give you a list of basic functions, and would help said token be implemented in wallets and exchanges.
1 Like
#3712

1. What are the benefits of web 3.0 (decentralized internet)?
It captures value for both dApps and the creators, where ETH is needed to run Smart Contracts which pays both dApps and the Ethereum network.

2. What is a token?
A token is either a unique or similar thing/object that holds a certain amount of value; it can be Non-Fungible where each Token is completely unique, or Fungible where each Token is similar/identical.

3. How do you create a token on Ethereum?
You create Ethereum Token’s by creating Smart Contracts using a specific standard (ERC20, ERC721, ERC 1155, etc).

1 Like
#3713

Being able to transfer assets from peer to peer without the need for a 3rd party. Web 3.0 will give smaller companies the opportunity to compete with large corporations and early adopters will have a larger proportion of incentives as incentive module is built on inflation.

A Token is a smart contract built on a blockchain that conforms to the specific standards of that particular blockchain network.

Program a set of functions that fulfills the requirements of the ERC20 standards using a programming language like Solidity that is able to convert the info to bytecode which the EVM could interpret and execute.

1 Like
#3714

Homework on Web 3.0, and Tokens - Questions

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

Answer 1 - It utilizes protocol layer of the internet which means every participant is beneficiary from creator up to users

  1. What is a token?

Answer - A Token is a cyrpto currency which is created under a blockchain - e.g. under Ethereum Blockchain - Ether is a Coin however any smart contract created underneath it, can create a cryptocurrency which will be called as Token and not coin

1 Like
#3715

  1. It allows for new economic models; where money can be made to go to the protocol itself and/or the users, not just to the applications.

  2. A token is a currency that builds on another already established currency.

  3. You proclaim it into existence in a smart contract.

1 Like
#3716

Hello…

  1. Some benefits of web 3.0 are that with financial incentives this allows small companies to compete with large companies like Google, also, inflation is used in order to reward people who contribute to the network.
  2. A token is the currency that runs on a network.
  3. You create a token on Ethereum by using the ERC20 standard of protocols.
1 Like
#3717

  1. The innovation that decentralize internet bring is by making it possible for information to be shared among nodes in a decentralize manner with security, so it become more accessible to users, instead of centralized websites and companies that are the only beneficiaries of the user data and hold information in centralize database.

  2. a token is an asset or a coin, that is being build on top of existing money sytem.

  3. By deploying smart contract.

1 Like
#3718
  1. What are the benefits of web 3.0 (decentralized internet) : There are new decentralized applications and use cases being developed that allows smaller players to compete with large corporates through product / economic model innovation.
  2. What is a token : A token is a like a “derived coin” that is developed on the network of a crypto coin through a specific use case that is expressed in terms of a set of logic functions that gives definition to the value of the specific token.
  3. How do you create a token on Ethereum : One creates a token on the Ethereum network through developing a new use case and then coding the specific use case into a dApp / Smart Contract on the Ethereum Network.
1 Like
#3719
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Decentralized Internet allows participants to use and share information with nearly no censorship. Implementing technologies wich provide options to gain certain economic value on the protocol level, early adopters and small companies can compete with traditional Internet „giants“ getting financial incentives for their work.
  1. What is a token?
  • A token is a code in a smart contract representing its own cryptocurrency. Tokes run on top of the Ethereum Blockchain.
  1. How do you create a token on Ethereum?
  • A token consists of standardized instructions (based on the standard ERC20). Tokens are included in smart contracts and are executed by the EVM.
1 Like