Homework: Web3.0 and Tokens

Ethereum 101
#441
  1. No giant corporations are running the websites but the websites are running on individuals being incentivized to make it more valuable.
  2. Smart contracts that represent cryptocurrencies that are based on top of ETH
  3. Create a smart contract using the ERC20
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#442
  1. It dilutes the control that monopolies such as google have and removes middle men and allows smaller players have a chance.
  2. A token comes from a smart contract built on top of the standard that the original platform is based on. E.g. (ETH and ERC20)
  3. You can create a token by building a Dapp or Smart Contract and setting parameters such as a token supply.
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#443
  1. The benefits of web 3.0 is the addition of token economy in the experience of the end user
  2. A token is a ERC20 smart contract of top of a blockchain like ethereum
  3. Tokens are created with smart contracts
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#444

  1. Dapps can be created and not be taken down by authorities. Privacy will be a benefit from this as well.

  2. A token is a digital currency created on top of another base currency such as the ERC20.

  3. By creating a smart contract that follows the ERC-20 standards.

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#445
  1. That you can participate on the rewards on the protocol level. Obviously also that dapps and sites can be used in a deventralized way = freedom.
  2. A token is a representation of a asset that can be used transfering values for services.
  3. via the ERC 20 Standard or other standards like 721.
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#446
  1. Web 3.0 Allows small companies to compete with big companies on more of a level playing field due to the supply/value dynamic that tokens provide. As an early adopter of a project you can accumulate alot of tokens with low value, but as the project grows the value of all these tokens can go up dramatically. This creates an incentive for early adoption which helps the projects get started and to compete with big companies. Also, Web 3.0 is decentralized and allows integration of smart contracts with websites to create DApps.
  2. At token is a cryptocurrency created from smart contracts built upon a native protocol like Ethereum.
  3. A token is created by coding a smart contract on top of a native protocol following specific guidelines for example ERC-20 for Fungible Token on Ethereum, or ERC721 / ERC1155 for Non-fungible tokens on Ethereum platform.
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#447
  1. Incentive to make money for early adopters, making it easier to compete with big sites.
  2. A cryptocurrency that is developed on a smart contract.
  3. By programming a smart contract using one of the ERC standards.
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#448
  • That everyone can benefit from it, the creators of the protocols, the developers of the dapps & even the users.
  • A token is a fungible (or not) coin with certain value.
  • A token can be created on the top of Eth with certain standard that would make it a ERC20 Token (smart contract, token, dapp).
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#449
  1. Web 3.0 allows for an open economy, network effect makes smaller companies get rewards for being early adopters. Less middle man, more control to content creators.
  2. A token is a digital asset.
  3. You program a token with certain standards on the Ethereum network.
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#450
  1. Decentralization is good for every industry but especially to break up the control tech giants have over the internet, that’s what web 3.0 Hope’s to do
  2. A digital asset, fungible or non-fungible
  3. Create a smart contract and code your token
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#451

  1. Some benefits of Web 3.0 are the incentives for early adapters and the contributors to a network instead of big corporations receiving all the rewards .

  2. Tokens are assets built on top of blockchains like Ethereum . They can be fungible or non fungible .

  3. Using the Ethereum blockchain you can build a smart contract creating your specific token .

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#452
  1. Early adopters get economically incetivized to join, the possibility to create monopolies or censorship decreases.
  2. It’s a representation of the smart contract built on the Ethereum blockchain. The digital assets can be fungible or non-fungible (used especially in gaming where each token is unique).
  3. Through a smart contract (codes) which then make various dapps
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#453
  1. Decentralized internet allows small business to compete with giants by offering tokens to adopters, the earlier the adopter is the more he/she can be rewarded.
  2. A token is a fungible or not-fungible digital asset creted on top of a blockchain.
  3. Using a Smart Contract.
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#454

  1. Benefits are that we can each control our data and thus privacy / earnings from it vs a few large players such as Google, MS, Apple and Amazon. Would also allow for more competition as currently we have large barriers to entry and an oligopoly, but Web 3.0 means that smaller players could deploy their own dApps and compete as it’s built on top of another decentralized protocol.

  2. A token is a digital representation of value, a digital asset, which is a smart contract built in another platform (such as Ethereum). In the case of Ethereum tokens, they are built with ERC 20 standard. These smart contracts specify total tokens, addresses and balances and value of which is defined by the contact creator.

  3. You program a smart contract using solidity. You must include totalSupply function, and otherwise use defined functions in the smart contract per ERC 20 standard.

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#455

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

  1. The third iteration of web technology brings us the decentralized web : a place where services are distributed rather than localized, where users own and control their own data, and where smaller players take back power from corporate giants like Google and Amazon.

What is a token?

Many dApps built on Ethereum have their own cryptocurrencies or “tokens.” In order to interact with the dApps, users need to purchase the dApp’s native token. Generally speaking, a token represents something specific in a given ecosystem . This could be could economic value, a dividend, a stake, a voting right… really anything.

How do you create a token on Ethereum?

In simple terms you can create a smart contract by implementing one of the token standards like ERC20 , ERC721 , ERC233.

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#456
  1. It has it’s own economic value. You get paid for your own input.
  2. Fungible ir non-fungible digital asset created on blockchain networks.
  3. A token can be created using a smart contract.
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#457

  1. Small/New companies can benefit from it, by attracting early adopters by giving them incentives by adding value to the network.

  2. Token fungible or non fungible asset created on Ethereum or other smart contract platforms.

  3. Standards smart contracts like ERC20 are available to write tokens on Ethereum, and we could re-use those smart contract functions.

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#458

Homework on Web 3.0, and Tokens - Questions

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

  • The creator of a protocol get value out of creating it
  • A chance to compete agains the big coorperations
  • More security and transparanty
  • Based around the user and the Dapps

What is a token?
A token is a currency created by a Dapp on the ethereum network. This Dapp is ERC compliant and functions through the eth network. It is either fungible or non-fungible and there are different contracts for those.

How do you create a token on Ethereum?
By making a smart contracts and adding them to a Dapp and then creating a token on top of it.

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#459
  1. What are the benefits of web 3.0 (decentralized internet)?

A decentralized internet would allow smaller companies to compete with giants like Facebook and Google. Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens in the beginning. Because of the value added in being an early adopter of tokens, being first suddenly rewarded. And with the network effect, you benefit from the rise of the value of the network.

  1. What is a token?

A crypto currency developed on a smart contract ex. ETH (Native currency/coin). It can be fungible or non-fungible.

  1. How do you create a token on Ethereum?

Tokens are created by writing smart contracts and hard coding, ideally using a set of standards such as ERC20, ERC721 and ERC1155

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#460
  1. Web 3.0 will break the monopoly of internet big giant company, and the protocol will be benefited by being able to create their own value in a token, the user will get the token for being an active participant, especially in the beginning as early adopters
  2. Token is where the value of something in the internet written in a programming code attached to the protocol or application that being used
  3. Token created inside Etherum Smart Contract with a standar of ERC20
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