- Less likely for monopolies to develop as creators are rewarded for their effort in relation to the product’s adoption.
- The currency of the DApp.
- Smart contact converted into bytecodes create fungible & non-fungible tokens built on the Ethereum network. ERC20 is used to build fungible tokens while ERC721 and ERC1155 build non-fungible tokens.
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Web 3.0 enables the Web to become decentralized. It‘s more likely that the generated value is shared with different stakeholders. The protocols will also get a piece of the pie, if a dapp is successful. It‘s possible to reward interaction and content. This helps to incentivize early adopters.
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It‘s a digital unit on the blockchain. There are thousands of tokens with different use cases.
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By deploying a smart contract on the Ethereum blockchain. The most used standard currently is ERC20.
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- What are the benefits of web 3.0 (decentralized internet)?
You can monetize your own data, create immutable resources…
- What is a token?
Currently a token is a cryptocurrency OR non-fungible asset on a blockchain, usually Ethereum.
- How do you create a token on Ethereum?
You need to code it, get it to compile, then deploy it on the Ethereum blockchain.
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1.-
Web 3.0 refer to this interaction of the web applications with block chains. This way people can experiment with new economies and try to compete with the applications that, until now, were the only ones that capture the value of the network.
2.-
Talking about an ERC20 token, they are a way to represent value over the Ethereum platform.
They rely on Ethereum itself and are generated with a smart contract.
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Tokens looks to me like some way to interpret value since they are generated with a smart contract, which is designed to generate those tokens when it receives Ether.
This smart contract also needs to keep track of the balances of the token holders as the transactions made with them.
At the moment when we want to create a new token we need to respect the ERC20 standard which makes mandatory to implement at least 6 functions.
totalSupply().- set the max number of tokens that can be created by this contract.
balanceOf().- responds to the question “how many tokens this address has?”
transfer().- used to transfer tokens from the total supply to a given account.
transferFrom() .- used to transfer tokens between accounts.
approve().- used to verify if a contract can give certain amount of tokens to an account checking the total supply.
allowance().- used to verify if one account can transfer certain amount of tokens to other one checking its actual balance.
Taken from
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- The benefits of web 3.0 (decentralized Internet) will give a chance for smaller businesses to compete with more giant corporations. Early adopters will be benefited/incentivized for using the new platform.
- A token is a digital asset that is build using a smart contract. It can be fungible and non-fungible.
- A token can be created on Ethereum using Solidity and ERC20 token standard.
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Excellent answers sir! i have seen you really are doing your best on every answer! please keep it like that! 
Carlos Z.
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How do you create a token on Ethereum?
Hello sir, your right about setting up by using for example the ERC20 Token Standard, to create a token you must design an smart contract within the ERC20 Token Standard (or other ERC standard, thats depend on the type of smart contract that you want to design), then your smart contract will have the ability to manage his own token for the operations or instructions that you have program on it.
Hope this gives you a clear view of the subject, keep learning! 
Carlos Z.
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The benefits of a decentralized Internet is that it incentives people to help out the new comers. meaning that the focus is not on just the giant companies and check out.
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A token is a coin that is created using a smart contract of a main coin. It is basically a sub coin
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You can use a smart contract on Ethereum
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1- What are the benefits of web 3.0 (decentralized internet)?
The creation of decentralized applications (Dapps).
Dapps = smart contracts + tradional servers + web application
2 -What is a token?
A token is a representation of any asset or utility that is fungible and trade-able running on a blockchain.
3 - How do you create a token on Ethereum?
Ethereum tokens are created by implementing the ERC20 token contract methods.
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Web 3.0 takes the power away from centralized giants such as Google and Facebook and returns it to active users and contributors. For instance instead of handing over all of our data for free, tokenisation allows us to be rewarded for our interactions.
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A token is a decentralized monetary unit usually written on top of the Ethereum protocol.
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A token is created by writing a smart contract on the ERC20 standard
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Web 3.0 makes possible for smaller companies to compete with gigants like google and facebook. Early adopters are more rewarded for their contribution while the platform is still new. As more people join the platform, rewards are lower, but because there is more people joining - the value of the tokens should increase.
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Token is a cryptocurrency developed on top of another cryptocurrency.
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By creating smart contracts .
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It will be more difficult for monopolies to become entrenched, smaller players will be able to compete more easily through incentives offered to users.
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A token is a digital asset which is created by writing a smart contract on a decentralised platform, like Ethereum.
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By writing a smart contract in Solidity, basing the token the standard ERC20 token API. This standard provides basic functionality to transfer tokens, as well as allow tokens to be approved so they can be spent by another on-chain third party.
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Google, facebook, whatsapp are all web 2.0 and were made possible by http, tcp. No one pays them as it failed to capture the value on a protocol level, all value went to the applications like Youtube etc. Blockchain is different because the protocol level is where most of the value is captured. There are many smart contracts built on top of Eth, but no application with more value than Eth.
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A token may be fungible (ERC20) or NFT (used in gaming). ERC20 tokens are a smart contract built on top of an existing cryptocurrency like Ethereum
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you have to make use of the ERC20 standard protocol.
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- It brings the power back to the users instead of being captured by few giants.
- It’s a crypto currency build on top of ethereum using smart contracts.
- Creating a token is possible by creating smart contracts.
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- It allows developers to capture the value of their apps.
- Either a native currency in a dapp in which payments can be made to use the service the dapp provides; or a work token that will grant you access to some functions in the dapp that outside users will not have, some of that can be seen in Steem. As the tokenization process goes through, it may one day be possible to acquire a variety of assets, using a token as a proof of ownership.
- Probably
https://github.com/ConsenSys/Token-Factory
And
Take the Eth programming course on Ivanontech Academy
These token need to perform the 6 functions that can be found in every ERC-20 contract, which translate in that contract having the 4 following features:
Display total token supply
Display account balance
Transfer a token from one address to another
Approve the use of that token for transactions as a monetary asset.
Information found on a link that I am being told was already posted by @storm in a reply on Feb 6, '20
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decentralized internet allows for smaller companies to compete with large scale corporations by giving out economical incentives to early adopters in the form of their own cryptocurrency to hopefully attract more people to use their applications
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a token is a financial representative of a smart contract application that is built on top of a coin (ex. etherium)
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a token can be created by writing a smart contract using solidity and compiling it to run on the etherium blockchain.
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1. What are the benefits of web 3.0 (decentralized internet)?
The main advantage is the application of DAPPs and capturing the full value from the early protocols.
2. What is a token?
A token is a unit value ( representative of physical objects, or monetary such Tether to dollars) value that attached to an existing blockchain, ie platform with a native currency a "token".
3. How do you create a token on Ethereum?
There are many steps to be taken when building a token on the ETH Network, but in a nutshell there is some information that needs to be understood before going in and building an actual smart contract to host your project. First, what is the name , and the "Ticker" to be used. Note to reader, it would be a good idea to reference Coin Market Cap to make sure that your Ticker is unique, you don’t want to confuse your potential investors. Next, how many decimals, or in other words how divisible do you want your product to be? Maybe a physical 1 to 1 representation can only have a "0" , or a software ownership can be devisable by "18". Something to consider. Lastly, what is your total supply going to be?
Having these 3 items in mind before actually building on the ETH Network will prove to be very beneficial.
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- It is possible to compete to all giants. We will be learning to work together instead of competing.
- Application build on a coin platform like Ethereum
- Writing and applying a smart contract in solidity. Use one of the ERC standards to create it.
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Hello Carlos, sorry i didn’t describe very well question Nr. 3.
We create a token on ETH by using the ERC20 standard rules set to design a smart contract.
Thank you for correcting me.
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Homework on Web 3.0, and Tokens - Questions
- What are the benefits of web 3.0 (decentralized internet)? It creates more equity for all using the system. Both companies, token holders and users have financial benefit if the platform succeeds.
- What is a token? A token is a currency code that allows you to preform an operation on a specific platform.
- How do you create a token on Ethereum? By creating a smart contract using a standard on the Ethereum platform like ERC-20 or ERC-777
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