Homework: Web3.0 and Tokens

Ethereum 101
#822

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

  • Opportunity for protocols and small companies to gain value and compete with the giants.

2. What is a token?

  • A token is a product built on top of a platform like ETH.

3. How do you create a token on Ethereum?

  • By writing a smart contract e.g. with using the token standard ERC20.
1 Like
#823

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

Web 3.0 will benefit the world as it will create a new definition of the internet as we know it.

Privacy and transparent content utilizing Blockchain and cryptography protocol.

From a business perspective, decentralization can connect providers directly to consumers, cutting currents costs as middleman activity can decrease while people around the world will be incentivised to start up businesses as they can connect directly to consumers.

What is a token?

A token is a cryptocurrency/digital asset that originates from a smart contract that is built on a protocol layer blockchain (Ethereum/EOS/Tron etc).

Tokens are fungible and non-fungible.

How do you create a token on Ethereum?

By creating a smart contract via the Ethereum blockchain protocol referred as a ERC-20 token.

1 Like
#824

This gives economic incentives for early adopters to join new technologies/platforms so these startup platforms can actually compete against internet giants like FB, Google, etc.

A token is a digital asset created on the Ethereum blockchain via smart contract. Different tokens have different rules but are all found on the Ethereum network.

Create your token with smart contract using the ERC20 standards (or other ERC standard depending on your project).

1 Like
#825

1.Smart contracts programmable value being able to send money just like you would send information on web 2.0

2.A token is fungible or non fungible digital asset created on Ethereum or other blockchain networks.

3.A token can be created by implementing a smart contract using one of the token standards like ERC20, ERC721 and ERC233

1 Like
#826

The revolution of Web2.0 was that big monopoly companies claimed all the rewards for building their applications on it. Web3.0 will sideline these profits (evil middlemen) and bring that money to an even playing field where we can all claim our profits from our interactions and or data (hopefully by then we can choose if we want to give it willingly!)

A fungible or even non-fungible token (value) that is built on top of a blockchain.

By using their infrastructure/platform you can create tokens (based on their standard definitions of what a token is e.g. ERC-20) which then provides the ability for exchanges and wallets to communicate and handle those tokens. With their Smart Contract approach then its is possible to generate value based on the operations performed in the contract by virtue of the operational complexity of executing that contract with the cost of the operations measured by their current day “gas” value equating in Etherium coin value.

1 Like
#827
  • What are the benefits of web 3.0 (decentralized internet)?

No central authority, faster and more efficient technical features of the dapps, less censorship. The most important, there would be less annoying adverts of products with the questionable quality, where item selling strategy is 95% of a cost price of it. It will allow real quality products to be promoted on the market naturally, where quality comes first, rated by consumers themselves.

  • What is a token?

It is a digital unit that is created from the dapp and works as an ‘‘interface’’ tool for the smart contract.

  • How do you create a token on Ethereum?

You can create a token using fungible standard coin protocol ERC20. It has been done on Ethereum blockchain

2 Likes
#828
  1. Users can earn money and become part of the system rather than the companies earning money from the users. Faster as pages/apps can be stored on computers close by rather than on a central server in another country. no censorship, etc.
  2. A token is a program/app built on top of Ethereum protocol/coin that uses the ERC20 standard.
  3. Using Solidity you can use the ERC20 standard which is recommended by the industry to create your own app/token
1 Like
#829

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    It creates a fair market allowing the smaller guy compete with the giants and financially includes the user by allowing value to be created at the protocol layer
  2. What is a token?
    A Fungible or non fungible asset created by a smart contract that exists on a blockchain
  3. How do you create a token on Ethereum?
    you can create a ERC20 token or a ERC721 on Ethereum by programming a smart contract
1 Like
#830

Anyone can take part such as small businesses no centralized information flow.
A token is a main smart contract creating on Ethereum.
3. First you create a smart contract on ERC20 standards, Second you create a token, Third you give it a purpose or (dap)

1 Like
#831

Homework on Web 3.0, and Tokens - Questions

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

  1. With the creation on Cryptocurrencies, Web 3.0 could give us a whole different dynamic experience when internet is connected to Decentralised platforms such as Ethereum based Dapps or any other smart contract Dapps. With Web 1.0 to Web 2.0 they properties that made it possible was some of the new protocols, like http, java script and so on. With Smart contracts tokens they can create a there own economic model and incentives there users to use there Dapps. This is the first time that you can now contribute to there network and gain there tokens in there economic inflation model and be rewarded. This will allow small companies being able to compete with larger business that hold the large market share.

What is a token?

  1. A token is a smart contract that is built on a Ethereum Platform or any other smart contract platform like EOS, XTZ and any other Smart contract block chain. The can be either Fungible or non Fungible tokens.

How do you create a token on Ethereum?

  1. A token can be created on any Smart contract Platform. On Ethereum you would create your smart contract and write in solidity then complied to Byte Code to Run on EVM. You would create your desired the functions and to run the smart contract you then must have Ethereum in order to create the smart contract, which in this case be the creation of the tokens.
1 Like
#832
  1. capture value, incentive to early adopters
  2. digital asset (fungible/nft) developed using a smart contract
  3. create a smart contract & token standard ex: ERC20
1 Like
#833
  1. Smaller companies or individuals can compete with the social mainstream sites.
  2. A token is a smart contract running on the ETH platform.
  3. A token can be created with the solidity language code which allows the creation of smart contract using the ERC20 standard.
1 Like
#834
  1. a) The benefits of Web 3.0 are:
  • Less censorship
  • Rewards early adopters
  • Financially incentivise users

  1. a) A token is a financial or digital asset created on the Ethereum (or other smart contract platforms) network.

  2. a) You can create a token on the Ethereum network by using code to write a smart contract.

1 Like
#835

  1. The benefits of web 3.0 are many. For example, applications are no longer centralized and the ecosystem becomes public without any sort of asking for permission. Ultimately, there is math being done to produce this level of trust.

  2. A token is a programmable asset or access right managed by a smart contract and an underlying distributed ledger.

  3. In order to create a token on Ethereum, one must incorporate the ERC20 standards and come up with a smart contract.

1 Like
#836

  1. The Web 2.0 Internet is dominated by massive corporations that have a monopoly on the network value. Companies like Google and Facebook. A Web 3.0 decentralised internet has the ability to reward individuals for their contributions to the network thereby building a fair economy which large organisations don’t have a monopoly over.

  2. A token is a programmable asset built on a crypto currency network like Ethereum that provides fungible or non fungible tokens using a standard built into the protocol. For Ethereum the most common is ERC20 which is a standard for fungible tokens.

  3. To create a token on Ethereum you need to create a smart contract using one of its standards like ERC20.

2 Likes
#837
  1. What are the benefits of web 3.0 (decentralized internet)?
    Value capture is at the protocol level. Small business can use incentive to attract more users and compete with big corporate. Early adopters are incentivized to use a new platform where they can accumulate more assets.
  2. What is a token?
    token is a digital asset that represent some value or with utility
  3. How do you create a token on Ethereum?
    By using a smart contract
1 Like
#838
  1. What are the benefits of web 3.0 (decentralized internet)?

Through the use of Dapps, smart contracts and tokens, companies can be better rewarded financially as their value is captured by the protocol. Fewer centralized applications will make for better user web experiences.

  1. What is a token?

A smart contract built on top of the Ethereum blockchain that has a unit of value and is exchangable

  1. How do you create a token on Ethereum?

Deploy a smart contract on Ethereum using a token standard such as ERC20

1 Like
#839
  1. The value is captured by the protocol. (blockchain). Early adopter are incentivized to use an app and get other people to join the network.
  2. A token is a currency programmed on a Smart contract blockchain.
  3. A token can be implanted on ETH by using Smart contracts according to ERC20 standard.
1 Like
#840

  1. What are the benefits of web 3.0 (decentralized internet)?
    early adapters are incentiviced using. also the small businesses are given the opportinity to compete with giants like FB, Google etc

  2. What is a token?
    A token is a cryptocurrency that is build on top of the Ethereum network. using standards ( ERC20) . there are fungible ( all are the same) and non fungible tokens ( unique).

  3. How do you create a token on Ethereum?
    a token can be created by creating a smart contract on Ethereum

1 Like
#841

1. What are the benefits of web 3.0 (decentralized internet)?
While Web 2.0 captures value on the application level, Web 3.0 captures value at the protocol level.

2. What is a token?
It’s a programmable digital asset that can represent basically anything.

3. How do you create a token on Ethereum?
By writing smart contracts using Solidity

1 Like