- The protocol capture economic value, thus the expression token economy. Great financial incentive for early adopters.
- A token is the currency of a coin and it contains a smart contract.
- It is coded.
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- Unlike on Web 2.0 you can actually profit as a creator of the protocols and networks.
- Token is an individual currency based on a larger network like ETH
- You use Ether to execute smart contracts.
- There are many different benefits of web 3.0 which is the decentralisation of the internet. Firstly it allows for the transfer of value from centralised corperations such as google, facebook and whatsapp to individuals and also protocol developers.
This is because currently these big corporations capture the value of the data and information that is being used on their platforms, in a sense they own the data and information people create including the information about the individual or company using their platform such as interests, spending habits and wants or needs. They are able to profit from this data/information, if you look at how they use personalised adds to create value off of your data by selling advertising information to advertisers and dictate the spending habits of individuals - at the very least influence.
The way in which web 3.0 achieves this transfer of value is that users will have the rights to their own data, because it is not stored on a centralised server each user potentially will be able to share and exchange their data with other users on the platform as and when they choose potentially in exchange for money or tokens or another form of value. Each user could say store their information in their own private wallet/storage space on the decentralised platforms on the web. Another user may be doing market research to identify if there is a demand for a service (products as well although likely value will be derived mostly from services & information), another user will be able to transact peer-peer through a decentralised trusted and secure network in web 3.0 and profit from the transaction with the user doing market research, infact both users have gained value rather than the value being in the hands of a centralised organisation. This benefit can also be described eliminating the huge power inbalance currently seen between centralised organisations and their service users.
A 2nd benefit to a decentralised internet is the shift from just simply the ability to exchange information but also the ability to now be able to exchange value in a trustless, secure and peer-peer way. This is actually achieved through the exchange of tokens which represent values which can in turn be exchanged for others - including physical items such as hard currency, cars or houses, that previously could not be exchanged through the web without intermediaries and often would need to be physically exchanged. A decentralised web for example could allow for a smart contract to be deployed with the notion of giving someone a pass code to unlock a hotel room once payement is recieved in the form of a token. This creates an online exchange of value for a real world service.
The allowance for token economies in web 3.0 really creates for an endless number of benefits including and not limited to:
The datafication of real world values that have not previously been quantified including social media likes, perhaps the value of buying a homeless person a bottle of water or the value of producing less emissions, this datafication allows for the transfer of information or actions into value which can be exchanged for other values such as monetary value.
Increased ease of trade through the removal of expensive intermediaries - this will create a far more effecient economy where the economy of a nation is not just valued on GDP aka sales but also quantified based on social or enviromental values as well. It provides a more accurate measure of the overall standard of living and health of an overall economy and indivuals which is undoubtedly a benefit.
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A token is a measure of a value. Its relationship against other forms of value is what quantifies the value of the token. tokens can be exchanged in an open marketplace and often are used to incentivise participation in a network or ecosystem. You could consider this the inflation of the token or even the primary market, before it is traded on the secondary market for other forms of value. Many tokens are currently ERC20 tokens that are built on top of the ethereum platform. And these tokens are fully fungible - infact they are more fungible than money in some way as account for far more value than just monetary value. There are also non fungible tokens called NFT’s such as tokens used to represent items within a game.
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You create a token on the ethereum platform by programming it into a decentralised application (dapp) which is a collection of smart contracts. You also follow the ERC20 token standard which is the standard way for a token to be created and deployed on the ethereum network.
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- It allows smaller project to gain traction through the benefits of being an early adopter, wanting to boost the project so the tokens linked to it take more value.
- A token is a monetary means of transaction that is part of a Dapp as a smart contract on top of a blockchain. ERC-20 tokens are for example built on top of the Ethereum blokchain.
- By creating a smart contract with EVM in Solidity language, preferably with a standardised syntax such as ERC-20
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Homework on Web 3,0, and Tokens
What are the benefits of web 3.0?
The way the internet is set up today there is a lot of monopoly shared by 3-4 major companies like Amazon, Google, Facebook, Twitter etc. Additionally investors in the protocols (http, tcp, etc.) do not benefit as much as those who invested in the adopters of those protocols. In web 3.0 there will be a more even distribution of power on the internet because through ETH based tokens people can create D-apps with incentives to use the software which rewards the user for participating in the system and doesn’t exclusively reward the creator(s) of the application. Also because of ETH’s “gas” property it is very likely that if a specific token gets higher demand, ETH’s demand will also increase thereby giving investors in Web 3.0 significant returns and not just to those who invest into the adopters.
What is a token?
A token is a kind of currency used within a Smart Contract/D-app built on top of the ETH blockchain.
How do you create a token on Ethereum?
A token can be created on the ETH blockchain by using a smart contract.
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1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 will allow users to maintain control over their own data, incorporate a native internet currency (such as Ethereum) and enable the creation of decentralised applications that run on the coded protocols rather than the enterprises that produced the appliactions (as in web 2.0).
2. What is a token?
A token is a unit of account built on top of the Ethereum (or other DAPP platforms).
3. How do you create a token on Ethereum?
Tokens are created on Ethereum typically by using the ERC20 token standard which then rund a smart contract on the EVMs. This enables the development of distributed applications and decentralised economies.
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Allows for smaller players to compete with big giant corporations with incentivized monetary structures
A token is a fungible or non fungible asset created on top of a smart contract enabled blockchain
Create a token using simple code to create a smart contract on ETH.
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@Staniis check this one too please!
Hello sir(s), can you please describe a little more how is the coding process?
3. How do you create a token on Ethereum?
Any doubt you have please let us know! we can help you to understand it better! 
Carlos Z.
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Amazing sir, you are truly seeing the entire picture! i really enjoyed reading that incredible answer! Keep that strong understanding! 
Carlos Z.
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Thank you so much for your encouragement, it is very much appriciated 
I am really hoping there are some courses/parts of courses with a lot more business & economic theory with token economics and blockchain application since I believe I excel in this area much more than the technical knowledge of IT, blockchain and programming.
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Homework on Web 3.0
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What are the benefits fo Web 3.0?
The promise of Web 3.0 is that of a decentralized internet. The underlying protocol of the internet 2.0 had inherent value, however, that value was exploited by apps running on top of the protocol. The value was gobbled up by a few internet companies. With the advent of blockchain, there is the possibility that the value of the internet could be transferred to the users, particularly the early adopters. In this model, the early adopters would receive coin for contributing content and the coin would be inflationary in value as the system becomes adopted by more users. Essentially, the value of the internet is distributed to benefit users. -
What is a token?
A token is a digital asset created on top of the ethereal network using smart contract programming. Tokens can be used to create a coin for a game, or perhaps as a reward for completing a puzzle in a game. Tokens can represent something in the real world, like gold or silver. -
How do you create a token on Ethereum?
Tokens are created using the standards ERC20 for fungible or ERC1155 & ERC720 for non-fungible tokens. The coding is done using Solidity and deployment is done through the internet. Promotional campaigns are often mounted for (ICO) Initial Coin Offerings.
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Yes sorry, I meant you firstly code the smart contracts then deploy it to the network by using ether. Since it costs Gas 
I might need to improve that knowledge tho! I’ll get there
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Web 3.0, decentralized internet, incentivizes the early adopter to grow, and the protocol layer of the web can now give value. This allows small businesses to be able to stand up to big businesses.
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A fungible or non-fungible digital asset created on Ethereum or other blockchain networks via smart contracts.
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You can create a token on Ethereum using simple code in Solidity. These smart contracts act as currencies inside the EVM.
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- Early adopters will be able to earn tokens for their contributions, which will grow in value as popularity and token value grows. This allows people and business to compete with large corporations.
- A token is a cryptocurrency that is built on top of a coin using the same standard through smart contracts.
- A token can be created on Ethereum using a smart contract and applying the ERC20 standards.
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- What are the benefits of web 3.0 (decentralized internet)?
It allows small players to be able to compete with big companies. It brings value to the protocol level. - What is a token?
This is a digital asset built on top of another. - How do you create a token on Ethereum?
By deploying a smart contract.
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What are the benefits of web 3.0 (decentralized internet)?
Probably the big companies will not have a monopoly anymore. It’s much easier for smaller companies to startup a nice project. Easrly adopters will be receiving incentives when usage is low and much more. -
What is a token?
It comes with most dapps. It’s a coin buy based on a platform such as Ethereum (ERC20) -
How do you create a token on Ethereum?
If you build a smart contract on top of Ethereum you can create a certain amount of tokens that comes with it.
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Some of the benefits of web 3.0 are the value is in the application of the protocol, Dapps being developed, rewarding the community with the value. Tokens are built off of a decentralized applications with smart contracts. You can create a token on ETH by creating a smart contract.
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- Web 3.0 allows to capture value at the protocol level and distribute it among different stakeholders
- A token is a digital asset implemented on a blockchain with the use of smart contracts
- A token on Ethereum is created using a smart contract (code) implementation following certain standards (ERC20 for fungible tokens, ERC 721, ERC 1155 for non-fungible tokens)
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Web 2.0 benefited the big monopolies. Web 3.0 with decentralization will benefit smaller projects which can incentivize early adopters with tokens.
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A token is a native currency of a blockchain.
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There are many projects ( DAPPS) on top of the ethereum network that create their own tokens. So utilizing the smart contracts can create tokens.
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1: Web 3.0 promises to allow us to escape the walled gardens currently controlled by the internet behemoths (Google, FB, etc.). It can allow for a more decentralized platform which can be powered by smart contracts and dApps,
2: A token is a crypto asset which runs on top of an existing network, eg. ETH, EOS, etc.
3: You can create a token on the Ethereum network using Solidity or Python. You will need some ETH to pay for gas when you create your contract.
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