Homework: Web3.0 and Tokens

  1. What are the benefits of web 3.0 (decentralized internet)?
  • It’s possible to monetize from the applications running on top of the protecol.
  • Decentralized network who make it impossible to get single point of failure.
  • It makes the internet open and fair, every body can connect and do business on the internet and get paid in what ever coin they want.
  1. What is a token?
  • A token is a digital “coin” who gives you the right do act in a sergent way with a company or networrk. It’s like a acces key to some services in the future.
  1. How do you create a token on Ethereum?
  • You create a token by implementing a new smart contract who runs the token on the top of Etherium (or other) smart contract platform.
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  1. What are the benefits of web 3.0 (decentralized internet)?
    You prevent monopolies and the protocol can gain value instead. You can also reward early adopters to incetivise them to use your platform.

  2. What is a token?
    A smart contract build on a blockchain representing a cryptocurrency / coin.

  3. How do you create a token on Ethereum?
    By programming a smart contract

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  1. Decentralized Applications can compete with larger corporations
  2. Token is a smart contract unit.
  3. Token can be created using smart contract.
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  1. What are the benefits of web 3.0 (decentralized internet)?
  • Transparency
  • Efficency
  • Economic incentive
  • Security
  • High availability
  1. What is a token?

A token is a representation a unit of value that is persisted into the blockchain and can be either fungible or non fungible.

  1. How do you create a token on Ethereum?

By deploying a smart contract based based on ERC-20 (fungible asset) or ERC-721 (non fungible asset) into Ethereum blockchain.

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Hello miss, i know the term “token” can be confused, in Ethereum, a token its a digital asset with an unique use case for an smart contract that reside on the blockchain; You can think as Ethereum (Ether native cryptocurrency) as the blockchain protocol used to develop smart contract within their own token, like DAI, MakerDAO (MKR token).

  1. What are the benefits of web 3.0 (decentralized internet)?
    The value is within the protocol and people can be rewarded for their content instead of the big players who just take the users data and sell it …
  2. What is a token?
    A smart contract which is built on Ethereum is called a token
  3. How do you create a token on Ethereum?
    You have to program a smart contract

What are the benefits of web 3.0 (decentralized internet)?
No central control, early adopters are going to be rewarded as time goes by.
What is a token?
It’s a smart contract such as ERC20, (fungible token) or ERC721, ERC1155 (Non fungible tokens such as gaming tokens)
How do you create a token on Ethereum?
With a smart contract. Using the standard programming.

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  1. We can experiment with very niche economic models. We have site that use their own economical models and have their own currencies. It is beneficial to be an early adopter, because the competition is lower and the reward is higher.
  2. A SC built on the top of the ETH blockchain and which represents value/currency.
  3. By creating a SC by following a standard such as ERC20 or other.
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  1. The value, instead of going to the application level of Web 2.0 (centralized websites and services such as Google, Facebook, etc), it goes to the protocol level (for example, Ethereum and its tokens, or the Steem ecosystem). You as a user are rewarded for your participation in Web 3.0.

  2. They represent the smart contracts that are built on top of a blockchains such as Ethereum, Waves, NEO, etc. They can function as a currency, a non-fungible asset, or as a form of utility.

  3. You must write a contract specifying information such as the number of tokens, name of token, token symbol, and number of decimals. You compile and publish the contract.

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  1. Most of the value goes to the protocol, possibility to create own economic systems,

  2. It is essentially a smart contract working as an asset

  3. On Ethereum with a smart contract

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  1. Benefits could be seen through monetary incentives. In the past the giant corporations has been making all of the money that we have been creating for them and now, with web 3.0 it is finally time for the people to take some of that money and distribute that to themselves.

  2. A token is an asset on the blockchain. It can be a fungible or non-fungible asset. ’

  3. A token can be created on the ethereum blockchain with a piece of code ( a smart contract).

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  1. Giving the Individual the chance to compeed with big tech companies.

  2. a digital asset often created on the ETH Blockchain

  3. using a Smart Contract

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  1. What are the benefits of web 3.0 (decentralized internet)?
    Small businesses and early adopters can compete with big companies and monopolies and that helps to get a better wealth distribution
  2. What is a token?
    A digital asset developed over a smart contract that can develop into a decentralized application
  3. How do you create a token on Ethereum?
    Using a smart contract and ERC20
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  1. Users get more incentive instead of all the power and money going to a few big players.
  2. Digital asset built on a blockchain network using a smart contract
  3. Write a smart contract
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the benefits of a web 3.0, value is captured on the protocol level while web 2.0 value is captured on the applications. It also helps smaller start ups to compete with giant companies, this is because it incentives early adopters to buy and hold tokens.

A token is a similar to coin but it can represent anything. It can fungible and non fungible

To create a token, we can use the ERC-20 standard .

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  • What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 will be enable remuneration to the ecosystem instead of just the applications like Facebook and Google in Web 2.0

  • What is a token?
    A token is a currency programmed on the Ethereum network using smart contracts. It can be fungible meaning that the tokens can act like repeatable currency or non fungible meaning that the tokens have value but are unique.

  • How do you create a token on Ethereum?
    By using a smart contract using the ERC20 standard for fungible tokens or ERC721 and ERC1155 for non fungible tokens.

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Glenn_CostaRica

1. What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 is the next step in the evolutionary process of the Internet. With Web 1.0, we enjoyed the capacity to consume content thanks to the invention of basic protocols and web pages. Pages, nevertheless, were static and rigid. You could see only fixed text and images on your screen (like an electronic version of a traditional magazine where content, once printed, could never change). Web 2.0 changed this and made content highly dynamic, basically thanks to scripting languages like JavaScript. Multimillionaire companies like Google, Facebook and Instagram exist thanks to these technologies. Web 3.0 is, however, disrupting the Internet even more. Web 3.0 represents the truly decentralized nature of the Internet. With 1.0 and 2.0, first of all, all the content is prepared, controlled and served by a centralized provider, from ‘one’ computer – or supercomputer --. This provider is able to filter content in a way that is beneficial only to certain people. For this provider, users might end up being “sheep” to exploit and to extract gains from only. The provider can even use users – and specially all the information collected about users – against users themselves. In many of the use-cases of Web 2.0, users do not earn much, but have to pay high prices for all services. Web 3.0 is changing this by annihilating the extreme levels of centralized power of servers as third parties, by distributing the role of these servers among all those who want and can provide computing power to sustain the network, or who somehow can participate in the network. In Web 3.0, decentralized networks can generate products, services, and even sound representations of legitimate value like cryptocurrencies native to the distributed nature of the Internet. In truly decentralized networks, virtually almost anyone can become a server or a provider, and no one should be able to monopolize the power over the network. Therefore, in Web 3.0, anyone can be an entrepreneur, anyone can invent, build and launch amazing ideas.

2. What is a token?
A token is a computer program that is implemented on top of an existing Blockchain, whose main purpose is to establish a unit of value and of exchange, in the form of a cryptocurrency.

3. How do you create a token on Ethereum?
In order to create a token on Ethereum, you must program a basic database and a set of functions to manage the data of the database, where the most important data consists of a ledger of balances of a unit of value, a currency, and holders of these units of value, while the functions must be those needed to update holders’ balances and payments. The best way to program a token, however, is to adhere to a Standard, like the ERC20 Standard, that establishes how to implement the database and how to structure and even name your functions. This will make your token fully compatible with all the software that has been created previouly for this very Standard. It will also help you save a lot of time in designing and testing your own newly invented functions which is, naturally, a lot less secure.

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  1. on the Web 3.0 you can create a new platform with a programmable digital asset
  2. a token is digital asset using the Ethereum network
  3. by using the Ethereum network you can use the ERC20 standard to create a token
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  1. What are the benefits of web 3.0 (decentralized internet)?
    It promotes small business to compete with larger business by increasing transparency and provide rewards to users of the network. This encourages early adopters to use the network since they are being paid to use the platform.
  2. What is a token?
    A token is a computer program created on an existing blockchain network, which has a decentralized application. It can be either fungible or non-funglible.
  3. How do you create a token on Ethereum?
    A token is created on the Ethereum network, by deploying smart
    contracts that follow the ERC standards.
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