Homework: Web3.0 and Tokens

Ethereum 101
#3800

1.) Benefits of Web 3.0:
• Kinda levels the playing field between smaller companies and corporate giants.
• Incentivizes early adopters with greater rewards
• Decentralization

2.) Tokens are smart contracts that make broad use of the etherium blockchain.

3.) You create tokens on Etherium by using codes such as Solidity and standards such as ERC20.

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#3801

What are the benefits of web 3.0 (decentralized internet)?
Decentralized apps (DAPPS) run on Web 3.0. While web 2.0 can run decentralized
systems, with Web 3.0, value is incorporated within the protocol.
What is a token?
A token is a smart contract represented as a crypto currency.
How do you create a token on Ethereum?
By implementing an Ethereum standard potentially using solidity, one can create
a token. Implementing an ERC20 would create a fungible type token. Implementing
an ERC721 or ERC1155 will create a non-fungible token.

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#3802
  1. What are the benefits of web 3.0 (decentralized internet)?

More transparancy for every user and no more dependency to the big player, because smaller projects can attract more users and grow faster.
Its also more censorship resistant because the government has not much control like in web 2.
User contribute to network will get rewards in form of tokens and if more people use the dapp and tokens the price will rise. User who has the tokens can vote for the future of the project.

  1. What is a token?

A token is a digital asset based on smart contract that is build upon a blockchain. It only represents the token via the smart contract, you do need always the coin of the blockchain to interact with the dapps.

  1. How do you create a token on Ethereum?

Need to wirte a smart contract on top of blockchain like eth and pay the requiered gas fee

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#3803

There are economic incentives, eg. benefitting early buyers of a token. It solves the problem of protocol developers not benefitting from the services built on top of it (concentration of wealth in few players like Google and Facebook instead of the people who developed HTTP or HTML for example).

There are fungible tokens (ERC-20) that mimic currencies. There are non-fungible tokens (NFTs) and semi-fungible tokens too (ERC-721 and ERC-1155).

You need to write a Smart Contract implementing the ERC-20 (if it’s a fungible token) format and publish it in the Ethereum blockchain (paying the necessary gas cost).

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#3804
  1. What are the benefits of web 3.0 (decentralized internet)?
    Capturing protocol value, people being able to utilize being a early adopter, new ways of ‘making’ money. Decentralization from corrupt governments(all of them). Financial freedom.
  2. What is a token?
    Cryptocurrency create on a platform like Ethereum
  3. How do you create a token on Ethereum?
    You create a SC using ERC20 standard and deploy it on Ethereum mainnet by paying necessary gas fees.
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#3805

  1. Benefits of web 3.0 is that it helps to prevent monopolies from forming on the internet ala Google, Facebook etc and also allows for investors to invest in the underlying protocol unlike web 2.0 where the protocol is basically demonetized

  2. A token is a currency built using a smart contract in top of Ethereum or another smart contract platform

  3. Using the ERC-20 standard, you basically just need to input your own data into the code and create your own token

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#3806

  1. What are the benefits of web 3.0 (decentralized internet)?
    a. Make transactions safely through the web without the need for third parties to act as intermediaries.
    b. Reduces the risk of censorship by governments and corporations.
    c. Collectively managed.
    d. Access to personalized searches.
    e. It does not depend on a single service to obtain information, since this, being distributed in different sites, can be gathered in a third party for the user’s enjoyment.

  2. What is a token?
    It is a unit of value based on cryptography and issued by a private entity in a ‘blockchain’, to govern its business model and give more power to its users to interact with its products, while facilitating the distribution and sharing of benefits between all its shareholders.

  3. How do you create a token on Ethereum?
    Based on the standard ERC20 token.

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#3807
  1. Web 2.0 is known to be as the web of information, or the web of applications. The value of the this iteteration has been captured fundamentally by social media (both on desktop as well as mobile), software or application companies and thirdly, by ecommerce giants, so: Google, Facebook, Microsoft, Apple and Amazon. The protocols are not were the money has gone. Also, used generated content, unless one is a super-influencer (such as Ivan on Tech), these companies will not pay you for your likes and content posted, even though they clearly benefit from it, mainly by generating advertising revenue.
    Web3.0 on the other hand, aims to shift the value to those alliances of people that are able to create new protocols, new forms of disrupting previous ways of transacting and interacting between people and organizations via the creation of decentralised applications (DAPPS), or decentralised autonomous organizations (DAOs) - Note: Although Ivan doesn´t speak about that here as he is back in 2019 and I am typing this in 2022. Another revolution not apparent yet in 20119 was the surge of the Metaverse and how NFT and transactions in the metaverse are driving massive amounts of value to savvy entrepreneurs and individuals who are able the “surf this wave of opportunity”. Meanwhile in the corporate sector, Banks, Shipping Companies, Automobile OEMS are deploying massive permissioned blockchains to improve and disrupt their own businesses, and for that they use protocols such as Hyperledger or Coda, other protocols which work across only “invited guests” but which are by no means less important than the public blockchains mentioned in this course.

2 ) A token is a unit of value which can be either fungible (therefore can be fractioned) in nature or non fungible -which cannot be divided. Fungible tokens are associated in to an existing blockchain and its correspond unit of value (Ethereum) and defined typically by a white-paper that explains the reason of being of said token, defining the total supply to tokens, whether the supply increases or decreases over time, the usage of the token and how the smart contracts regulating its use and transactions are programmed in the main chain.

  1. In Ethereum a fungible token is created by adhering to the ERC20 protocol, which defines the standard of programming and instructions of the smart contracts associated to the token. Non-Fungible Tokens (NFTs) are on created by adopting different protocols ERC721 and ERC 1155 on Ethereum and are used in the gaming blockchain industry as well as in digital arts, metaverse digital worlds.
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#3808
  1. What are the benefits of web 3.0 (decentralized internet)? With web 3.0 there is incentive for early adopters where more money is payed out to early adopters and that incentive decreases as adoption increases.
  2. What is a token? A token can be fungible or non fungible. Fungible tokens are all the same, they look the same, function the same and code is layed out the same. Non fungible tokens are unique, and are deployed using ERC721 or ERC1155. They have different IDs, they have different properties and different market prices.
  3. How do you create a token on Ethereum? Tokens are created on Ethereum using ERC20 code.
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#3809
  1. What are the benefits of web 3.0 (decentralized internet)?
    With model that enables early adopters of each platform to earn more yield will contribute to smaller companies to succeed. Big corporations won’t be able to take a huge share of the market just because of their power. Early adopters are therefore motivated to use the platform and promote it, because with growing user base also the token price of the platform will rise.
  2. What is a token?
    A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (ethereum, avax, solana…)
  3. How do you create a token on Ethereum?
    Token can be created by using a smart contract.
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#3810
  1. digital ownership, business accessibility to almost everyone (not just to insiders), thus more fair distribution of money and profit, no need for central governance, cut of middleman and other bureaucratic and artificially contrived costs, etc.
  2. token is a digital asset that runs on top of another blockchain network protocol, which itself has own cryptocurrency (on base layer 1 that is then coin)
  3. by writing and deploying a smart contract using some of the base protocol standards, as on Ehtereum are: ERC20, ERC721, ERC1155, …
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#3811

1.What are the benefits of web 3.0 (decentralized internet)?
The network is decentralized that means no one can control it. In web 3.0 the network like Ethereum , avalanche, fantom etc. do also get benefit if dapps built on their network grows in networth and users. We are very early so we will see more benefits in future to like play to earn games.

  1. What is a token?
    A token is a digital asset that can be fungible or non fungible. We can create it on etherium and other networks by smart contract. A token can be used to pay a gas fees for using the network. Token value also reflects the network popularity and networth.

3…How do you create a token on Ethereum?
We can create a token through smart contract on Ethereum by implementing ERC20 standard.

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#3812
  1. Web 3.0 is a decentralized version of the internet so it will not be in hands of a few big companies that have a monopoly in the market. In addition a lot of value is stored in the infrastructure (blockchain) because the coins need to be used. Instead of a 3th party earning a lot of money on communities now communities can earn money by doing tasks. for example liking something or playing a game.
  2. a token is the currency exchanged on DAPPs, it represents a certain value and is used to execute smart contracts. A coin is a digital currency on a blockchain.
  3. a token can be created by making a bunch of smart contracts that interact with a blockchain. For this standards like ERC30 are used.
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#3813

  1. The benefits of web 3.0 (decentralised internet) are vast but to summarise it allows users to share in the value of the economy of the ecosystem which is generally tokenise, perhaps with a cryptocurrency (fungible or non-fungible) in a trust-less relationship coupled with consensus algorithms which is more fair than its predecessors such as web 1.0 and 2.0 where all values went to the apps such as your Google, Facebook, YouTube etc.

  2. A token is a representation of store of value within an ecosystem’s economy. An example is how gas fees are paid on the Ethereum network. Other dApps also incorporate tokens in their economy to incentivise their community to create more value.

  3. You create a token on Ethereum with smart contracts which are programmable business logic or contracts following standardised protocols such as ERC20, ERC721, ERC233 etc.

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#3814

  1. Economic incentives for users to try our early startups. Dapps and Digital assets that may hold certain value are introduced. Decentralization which could server useful in disruptive innovation.

  2. A token is essentially a smart contract issued on the ethereum blockchain that represents a value of its own.

  3. using the various existing ERC standards, programmed with solidity.

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#3815

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

There are many benefits. E.g gives smaller companies and companies an opportunity to compete with global mega monopoly kind of companies such as Google and Facebook etc.

The current monopoly that Google and FB has had for years in WEB 2.0 will not exist in WEB 3.0 (decentralized internet) WEB 3.0 will also offer incentives to e.g new users. Transparency!

2. What is a token?

Tokens exist on [SC] Smart Contracts, they are based on native cryptocurrency coins e.g Ether on Ehereums Blockchain.
There are also other [SC] Blockchains such as nano, eoscand tron.

3. How do you create a token on Ethereum?

A token is created on Ethereum by using [SC] there are many such as a technical standardfor token implementation ERC20 great for fungible tokens and ERC721 and ERC233 great for NFT (Non Fungible Tokens)

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#3816

  1. You’re able to catch te value of protocols instead of only the applications on top of the protocols like in web 2.0
    Network effect -> early adopters get rewarded with a high number of tokens and help the companies grow and compete with the large companies.

  2. It’s a digital asset that is develop by using a smart contract build on the network.

  3. Creating a smart contract by using a ethereum token standard (ERC 20, 721, 1155)

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#3817

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

WEB 3.0, more broadly, gives back to the user the ownership of their assets and produced content. Through a smart contract platform, it provides value capture through the use of applications built on this infrastructure.

What is a token?
Generic name given to a crypto asset through a smart contract and its respective blockchain. It can be divided into: Fungible and Non-Fungible tokens; and categorized into: payment tokens; security token, utility token and equity token.

How do you create a token on Ethereum?
“Becoming a token creator with Moralis can be broken down into four different steps: 1) set up a Speedy Node, 2) add initial code/imports, 3) create the contract, and 4) verify that the contract is working.”

https://moralis.io/how-to-create-ethereum-tokens-in-4-steps/

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#3818

the benefits of web 3.0 are the incentives to early adopters and there would be no middle man being able to censor users or certain information.

A token is a fungible or non-fungible asset written on the blockchain controlled by smart contracts instead of people

token a created through writing smart contracts and deploying them on the blockchain

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#3819

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

In the future of internet, applications becomes smarter, more private, and more decentralized making it possible to do powerful things on the net as its goal is to change and create a more open, transparent internet.

2. What is a token?

Tokens are essentially smart contracts which lives on the ETH blockchain, they can have many uses and purposes.

3. How do you create a token on Ethereum?

Creating a token on the ETH network, your token would have to be an ERC-20 technical standard smart contract on the ETH blockchain and is compliant. ERC-20 is a guide of rules and regulations that will help create a blueprint for ETH based smart contracts to create their tokens.

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