Homework: Web3.0 and Tokens

Ethereum 101
#722

Excellent answer Miss! really well documented! keep it like that please! :muscle:

Carlos Z.

#723

  1. What are the benefits of web 3.0 (decentralized internet)?
    New companies will be able to compete with google etc. Early adopters can be incetivized to use new apps and platforms

  2. What is a token?
    A cryptocurrency built on top of a smart contract platform.

  3. How do you create a token on Ethereum?
    They are programed into a smart contract

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#724

1 to raise value from the protocol itself rather than through centralisĂ©e web applications. Inventive for early adopters on Internet’s money layer itself.
2 a token reflects the value of a smart contract for specific users or specific exchange
3 you have to stake ETHs and create a smart contract with Solidity to be managed through EVM

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#725

dApps
NFT not the same as anything else
MetaMask

#726
  1. Benefits:
  • Not just the application provider monetize the value of a new technology, but also the platform (e.g. Ethereum, Eos) - without ETH you cannot run your application on Ethereum. If an application gets big, ETH gets big
  • It gives any contributor/user of an application the possibility to monetize on their data and input. E.g. get paid for posts and likes, get paid for sharing data, get tokens for buying stuff (loyalty programs, payback programs)
  • We might see many small players nibbling at the success of the current monopolies (such as Google, FB)
  • New platforms, applications can offer their early adopters an incentive with its token. The adopter would be incentiviced to promote the platform, so that the early earned tokens become real valuable
  • like with all blockchain applications, it would be trustless, immutable, public/transparent

  1. A token represents a unit of value. This can be money, an physical asset, reputation or whatever the originator of the token wants it to be. It is programmed in a smart contract based on one of the blockchain platforms, such as Ethereum or Eos.

  2. You program it in a smart contract, most of the time with the ERC 20 standard so that it is working well with other tokens and the wallets in the market

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#727
  1. Benefits of 3.0 will be no middle man, incentives for contributors, more opportunities for smaller companies and individuals worldwide to thrive.
  2. A token is digital currency created with a smart contract on the ethereum or a similar platform.
  3. Token is created by coding a smart contract using usually ERC20 standard.
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#728
  1. What are the benefits of web 3.0 (decentralized internet)?
    That the protocol is able to capture the value itself, unlike eg. http that has zero valuecapture, but a lot of the apps build on http (Facebook etc.) captured all the value
  2. What is a token?
    A token can represent anything on a blockchain, a commodity, currency, collectables etc.
  3. How do you create a token on Ethereum?
    You specify in solidity an ERC20 contract with the properties you want your Token to represent
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#729

  1. The option for early adopters to get rewarded for use of the network creating incentives to make money

  2. A token is a Crypo created by the application

  3. By creating a smart contract.

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#730

  1. A user can generate value from the time and / or effort spent creating or liking content.

  2. A token is a digital asset built on top (as a smart contract) of a blockchain, i.e. Ethereum.

  3. Using Solidity as a programming language, a token can be created on top of the Ethereum blockchain using the standards as set in the ERC20 code standard.

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#731
  1. What are the benefits of web 3.0 (decentralized internet)?

Companies that innovate at the protocol level will now be able to capture value, whereas in Web 2.0 like https and ftp did not make much, if any at all, money for their innovations.

  1. What is a token?

A token is a unit of value that is used within an economic structure that enables the holder of the token to participate in the benefits of that economic system.

  1. How do you create a token on Ethereum?

By creating an ERC20 or ERC1155 token using a smart contract on the Ethereum network.

#732

  1. What are the benefits of web 3.0 (decentralized internet)?
    Early adopters might benefit economically because not many people are using it.
    Web2.0 did not capture value on protocol level and only companies who were built on it made all money. With 3.0 if you are building on ethereum platform you benefit both.

  2. What is a token?
    It is digital asset/currency created on Ethereum using smart contract.

  3. How do you create a token on Ethereum?
    You will write smart contract on Ethereum blockchain.

#733
  1. In a Web 3.0 the main value goes to the underlying protocol. Applications are decentralized and can use token economics to give an incentive to early adopters.
  2. A token is a digital asset created on top of a blockchain, e.g. Ethereum.
  3. A token can be created by a smart contract. There are different token standarts like ERC-20, ERC-721 and ERC-1155. Tokens can be fungible or non-fungible.
#734

  1. A chance to create your own little economy. You don’t need do be a big corporation to compete. The protocol layer will be rewarded instead of the app’s build on top of it

  2. A token is value created by a smart contract or dapp build on a blochain network.

  3. By building a piece of solidity code using the erc 20 standart

#735
  1. unlike Web 2.0 the protocols are incentified. Where in web 2.0 the apps were making the money, now the creators of the protocols can be rewarded.
  2. A token is derived from Ethereum or EOS or other platforms.
  3. By programming a smart contract based on Ethereum (or any platform). it is recommended that the programmer uses one of the standards as ERC20.
#736
  1. Incentivized early adopters. Increased P2P on the internet.
  2. A (fungible or non-fungible) digital asset developed using smart contracts on Blockchain networks.
  3. By creating a smart contract. Using the ERC20 standard.
#737

  1. What are the benefits of web 3.0 (decentralized internet)?
    Stops the monopoly of big giant companies, it makes more accessible and fair for all, incentives early new adopters with a reward directly to the user.

  2. What is a token?
    Is a digital cryptocurrency contract that is built on top of the Etherium BC network.

  3. How do you create a token on Ethereum?
    By writing a smart contract in ERC-20 standard.

#738

  1. The benefits of Web 3.0 increases competition chances for small companies and projects. Early adopters or users of decentralized apps (dapps) can enjoy higher number of coins/tokens as returns (as a financial incentive) which could appreciate in value later on once adoption increases for these projects or dapps.

  2. A token is a type of programmable money build on top of blockchains that are Turing Complete. For example, on a 2nd generation blockchain like Ethereum.

  3. A token can be created on Ethereum using a smart contract written using a programming language called Solidity.

#739
  1. Power in the hands of the people, the ability to capture value within the protocols as opposed to within companies / corporations like web 2.0
  2. A token is a crypto currency that is created with a smart contract on top of a blockchain protocol.
  3. You create a smart contract and deploy it on the Ethereum network.
#740

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

2. What is a token?

3. How do you create a token on Ethereum?

Hello sir, could you please detail a little bit more your answers?

If you have any doubt, please let us know so we can help you! :slight_smile:

Carlos Z.

#741

  1. What are the benefits of web 3.0 (decentralized internet)?
    Maybe censure ship resistance.
    Printing money.

  2. What is a token?
    A token is build on a top of a blockchain network.

  3. How do you create a token on Ethereum?
    Write smart contracts using the ERC-20 standard.

1 Like