Homework: Web3.0 and Tokens

[JustinP]

1. Web 3.0 allows for a different economic model where users can create and share in value rather than being controlled by large corporations.

2. A token is a currency created on top of the Ethereum network.

3. Tokens are created through ERC-20 token contracts.

[Cmion]

Continuing the discussion from Homework: Web3.0 and Tokens:

1. Benefits of web 3.0
   Decentralisation makes it possible for smaller companies to compete hence killing monopoly

New users or early adopters are incentivized

2. What is a token?
   A token is a smart contract written on etherium

3. How is a token created?
   A token is created using sloitude which is governed by erc20 stardards

[john_coraline]

1. We have decentralized websites and dapps. It creates more incentives for early adopters to really help smaller businesses grow to create an economy and compete with larger companies

2. It is a unit value that exists on a blockchain. It is either fungible or non-fungible

3. By using ERC20, ERC721 or ERC1155 standards to provide more efficiency and smoother interactions with the other tokens. You implement the smart contract in Ethereum and your token uses gas which converts into Ether when executed in the smart contract

[Cmion]

Benefits of web 3.0 is that it creates decentralization and gives opportunity for smaller companies to thrive and also creates incentives for early adopters

A token is a smart contract that runs or programmed on etherium. It can be either fungible or non-fungible

A token is created by following certain erc20 standards

[Cmion]

1. Benefits of web 3.0
   Decentralisation makes it possible for smaller companies to compete

New users or early adopters are incentivized

2. What is a token?
   A token is a smart contract written on etherium

3. How is a token created?
   A token is created using solitude which is governed by erc20 stardards

[Matgas]

1. more value on underlying protocols
2. asset for an coded argument
3. tokens can be created through smart contract on the ethereum network

[Crypto_Mofo]

1. What are the benefits of web 3.0 (decentralized internet)? The value capture is moved away from application creator such as google/facebook/apple into the protocol. The protocol is written to benefit earlier adopters.
2. What is a token? Is a fungiable asset created using the ERC20 protocol
3. How do you create a token on Ethereum? Write a program in Solidity and deploy the bytecode into the Ethereum network using ether/gas.

[Pendar]

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

Security via Decentralization of data. Protocols can become valuable. Competition and challenging big tech

2. What is a token?

Programmable smart contract.

3. How do you create a token on Ethereum?

By using a unified byte code such as ERC20, we can make wallets and EVM follows our smart contract rules.

You gotta practice LOL

[pascaldeb]

1 there is more possible with smart contract, small company’s have less competitive desadvantage …

2 tokens are used as money (form to exchange store of value)

3 on the etherium network is constructed a dapp, which has smart contract , so the tokens can be used as money

[ZAR]

@filip

• What are the benefits of web 3.0 (decentralized internet)?
• What is a token?
• How do you create a token on Ethereum?

1. Web 3.0 allows for both creators of protocols and platforms as well as the users to be incentivized.

2. A token can be bought with a currency but not vice versa. A token has value in a particular blockchain’s ecosystem.

3. Tokens are created on the Eth platform using ERC20 protocol.

[Nev]

• What are the benefits of web 3.0 (decentralized internet)?
  Ability to benefit from internet in a monetary way by utilizing processes and building businesses that are beneficial to users and the builder
• What is a token?
  It is a protocol that utilizes platforms like Ethereum or EOS that can monetize and enhance user experience and desired activity
• How do you create a token on Ethereum?
  By utilizing the platform to create smart contracts and decentralized apps

[ADABOY]

1. The benefits of Web 3.0 give small businesses the chance to compete with bigger corporations because of the network affect. These projects can inentivize early adopters to utilize their service rather than using the competition which is not incentivezed.

2. fungible and non fungible assets built ontop of a smart contract network

3. buy following the ERC standard for programming and writing smart contracts which in turn will represnt the tokens.

[Hectorgato]

1. In the case of ETH, you will have more websites that are decentralized wherein parties participating have an incentive to join in the website community and development for mutual gain instead of a central authority getting the whole enchilada.
2. A Smart Contract whose language of function orders are in ERC20 and run on the protocol of the ETH platform.
3. By employing the ERC20 Standard protocol on the ETH platform.

[diabeeto]

1. Web 3.0 has more economic incentive for everyone involved, from the protocol level to the dapp developers to the consumer there are incentives to use web 3.0 and decentralized apps.

2. A kind of currency that represents some form of value, tokens are built on a smart contract platform like etherium.

3. You create a smart contract that you pay for with gas from ether. The best way to create the smart contract would be with a standard such as erc20 so that it is easily adoptable and scalable.

[Seth]

1. What are the benefits of web 3.0 (decentralized internet)?
The protocols, dapps, and users of a dapp can capture value on web 3.0. In web 2.0 only the applications running on the protocol capture value.

2. What is a token?
A token is a unit of value that exists in a smart contract.

3. How do you create a token on Ethereum?
Tokens are created with a smart contract

[content_noir]

1. What are the benefits of web 3.0 (decentralized internet)?
   Allows users to monetize their internet experience and makes for a far more free open internet.

2. What is a token?
   A cryptocurrency that lives on top of another platform such as ERC20 or ERC721.

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

[Mesiah]

1. What are the benefits of web 3.0 (decentralized internet)?
   A: it will benefit the smaller companies in that they would have more control over the income stream on the network browser

2. What is a token?
   A: a token is a smart contract that has a value of the network it is on

3. How do you create a token on Ethereum?
   A: by using smart contracts to show the value

[Yesyes21]

1- It gives smarter companies the opportunity to compete with bigger companies
2- a token is a digital asset fungible or non-fungible developed by a smart control
3- On etc you can create a token by using a smart contract.

[Stas_Simon]

1. opportunity to compete against giants by allowing people to make money.
2. is a type of a smart contract
3. using some standard like ERC-20

[chrisDs]

1. Web 3.0 enables the protocol (for eg etherium) to gain value rather than the applications that run on it. It also incentives users to use the application. Since data is stored in the blockchain there is no way to censor users.

2. A token is a coin that can be programmed using a smart contract that is built on a blockchain protocol like etherium.

3. tokens are created by using a smart contract written in a programming language like solidity. Tokens have to follow a particular standard depending on the application.