Homework: Web3.0 and Tokens

  1. Web 3.0 is a change of business paradigm, whereas the users can share the economic benefits of a successful application and not just the big companies. Earlier adopters get the higher potential benefits as they help new ventures grow.

  2. a token is a digital asset (fungible or non-fungible, pending the use case) which is developed using a smart contract (on Ethereum or other blockchains)

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

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  1. What are the benefits of web 3.0 (decentralized internet)?
  • It is decentralized which is more censor resistant from governments, it is capable of being programmed to run as it’s own economy utilizing it’s own currencies, it is the future of digital art and media by using NFTs, it can incentivize users interactions in for example a social media app, it gives the user more control of their data and it’s value, etc…
  1. What is a token?
  • A token is an asset built on top of Ethereum that can either be fungible meaning each token is the same (currency), and non-fungible meaning the asset is unique (like a piece of art).
  1. How do you create a token on Ethereum?
  • by using smart contracts and various standards such as: ERC20, ERC721, ERC1155, etc…
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  1. What are the benefits of web 3.0 (decentralized internet)?
    Web3.0 enables a future where distributed users and machines are able to interact with data, value and other counterparties.

  2. What is a token?
    Tokens are a type of cryptocurrency that represents an assets or specific use and reside on their own blockchain.

  3. How do you create a token on Ethereum?
    Execute Token smart contract to create token.

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

Enable smaller companies to compete with larger companies by incentivizing early adopters.

  1. What is a token?

A smart contract on the blockchain representing a form of digital asset.

  1. How do you create a token on Ethereum?

Code a contract.

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  1. The benefits are that new users can easily join and create content which they get rewarded for.

  2. A token is a digital asset that uses smart contracts (EOS, ethereum, tron). They can either be fungible or Non-fungible tokens (NFTs).

  3. By writing up a smart contract.

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

With Web 3.0, you will see more innovation for the creators because they are going to be incentivized. You will see less monopolies, and a more dynamic economy on the internet.

  1. What is a token?

A token is a currency that is built on top of a coin.

  1. How do you create a token on Ethereum?

You need to use the standard ERC20 on the programming language Solidity.

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  1. With the web 2.0 big tech companies like Google and Facebook have a monopoly. They use you as a person to reach a lot of other people and are making giant money with for example adds. If Facebook was a decentralized platform then you would benefit when you contribute to the platform. Instead that all the money will go to Facebook you’ll also receive a share of it.
  • Another benefit of 3.0 will be that the social media platforms will no longer decide what you can or can’t post. Nowadays a lot of posts or even accounts are being deleted by the platform. For example the twitter account of Trump and Dr, Malone are deleted, because the platform didn’t like what they were posting. With 3.0 the smart contract will decide it and not a employee of the platform.
  1. A token is the native currency of a d’app build in the form of a smart contract on the blockchain. MANA (Decentraland) is for example a token that is build on top of Ethereum.

  2. You can create a token by making use of smart contracts. All tokens on Ethereum are basically pieces of smart contracts.

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

With Web 3.0, economies will migrate into a decentralized era in which big companies will no longer control everything, but the users it self will take control over organizations in a way that they are the ones being rewarded for contributing in the growth of the application.

  1. What is a token?

A token is any form of dApp built on top of a smart contract platform. There are different kinds of tokens:
Fungible tokens are those that are identical, and ruled under the same standards (ERC20 for example)
Non-fungible tokens will be those that are unique, and posses each their own characteristics

  1. How do you create a token on Ethereum?

You can create a smart contract that represents its own cryptocurrency under the ERC20 standards

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  1. The benefits include incentivizing ingenuity and innovation by monetizing the protocols, in addition to transparency where data is given and accumulated by consent. It also will give power back to the people and not be controlled by a central authority.
  2. A token is a cryptocurrency distributed by a smart contract on the Ethereum blockchain.
  3. First you have to have Ether to create a program within solidity and by using the ERC20 standard protocol you create your token.
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1.the value stays in the protocol.
2.a token is a unit controlled by a smart contract on Ethereum network.
3.it is created on Ethereum network and a smart contract.

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

    It’s decentralized instead of a few companies controlling everything and receiving all the value.
    The value is distributed more to the users who are in control of their information instead of a few large corporations.

  2. What is a token?

    A token is a smart contract running on Ethereum that represents a crypto currency or NFT.

  3. How do you create a token on Ethereum?

    Via a smart contract.

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[quote=“filip, post:1, topic:8447”]

  • What are the benefits of web 3.0 (decentralized internet)?
    The web 3 version would benefits each small or large companies to compete with each other’s without creating a monopoly. It will also creat privacy, security.

  • What is a token?
    Token is cryptocurrency created with smart contracts on a second layer, over etherium

  • How do you create a token on Ethereum?
    By developing smart contracts or DAP with one of the token standard such as ERC20 or ERC 721

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  1. What are the benefits of web 3.0 (decentralized internet)?
  • The protocol itself catches a big part of the value locked and generated by it
  • Increases peer to peer interactions and eliminates the middle men
  1. What is a token?
  • A fungible or non-fungible asset on a blockchain consisting of a smart contract
  1. How do you create a token on Ethereum?
  • By coding and deploying a smart contract on the blockchain, often using token standards like ERC20, ERC721, or ERC1155
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1.there are numerous benefits for using web 3.0 but the major one is the incentive you get from using a product and also the no censorship because of the decentralization.

  1. A token is the currency of a contract that’s is written untop on the main blockchain eg Ethereum blockchain.

  2. By writing smart contracts.

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The main benefit is that the users and content creators can earn money for using that platform. It also gives a bigger chance to smaller companies, because earlier in the lifecycle the rewards for early adopters are higher and that creates incentive to use newer and less mature platforms.

A token is a cryptocurrency or digital asset based on ethereum or similar platforms. It can be either fungible or non fungible and dependant on that must meet certain criteria for the coding (ERC20 for example)

Tokens are created with smart contracts on top of existing blockchains.

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  1. Web3 is the future of the internet filled with incentivized projects (pay-to-earn, watch-to-earn, create-to-earn etc.). This makes it possible for businesses to compete against the big brands; the network is also trustless, working without middle-men.

  2. A token is a programmable digital asset that is developed using a smart contract.

  3. Tokens are created via smart contract on Eth using Solidity code.

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

What is a token?
it sits on a coin

How do you create a token on Ethereum?
using smart contracts

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  1. It can incentivize early adopters and compete with bigger tech giants because it is decentralized and essentially run by the people rather than the organizations.

  2. A token is a ERC20 digital asset created on the Ethereum Blockchain.

  3. Using smart contract and ERC20 standard conventions.

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  1. Less concentration of power, ability for the protocols themselves to extract value, value in being an early adopter,
  2. A token is a crypto asset created on a blockchain network. Typically the native store of value is referred to as a coin rather than a token.
  3. You create a new token contract using the ERC-20 standard.
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  1. Benefits include opportunity for smaller business to compete with larger corporations such as google, facebook, etc. Also rids the middle-man and creates a more peer-to-peer environment. And early adopters are incentivized to join with high token number rewards.
  2. A token is a smart contract built on top of a cryptocurrency that represents value.
  3. To create a token on ethereum you must follow the ERC20 standard and create a smart contract.
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