Homework: Web3.0 and Tokens

Ethereum 101
#842

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

Carlos Z.

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#843

  1. What are the benefits of web 3.0 (decentralized internet)?
    it monetizes every aspect of the web not just ads and profits sales for large companies but on a protocol level adding incentives to early adopters.

  2. What is a token?
    a token is a crytocurrency (protocol) developed on another cryptocurrency’s blockchain.

  3. How do you create a token on Ethereum?
    following the ERC20, ERC721, or ERC1155 standands for smart contracts to create tokens

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#844

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

    The benefit to using Web 3.0 is you can move your data from one platform to a decentralized database.Utilizing Block chain computing with regard to how your data is captured and stored- much more secure and cuts out the middleman.

  2. What is a token?

    A token is a digital asset that can be created on the Ethereum platform as either a fungible (ERC 20) for currency, or a (ERC 721 or ERC 1155) tokens that are used for gaming.

  3. How do you create a token on Ethereum?

    You can create a token on Ethereum using a software programming application such as Solidity to write the Smart Contract to be tokenized on the Ethereum Virtual machine.

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#845
    • What are the benefits of web 3.0 (decentralized internet)?
      A: The early adopters can have skin in the game since they can be rewarded for getting involved early with a decentralized application due to that dapp’s tokens increasing in value. Small companies will be better able to compete with mega corporations because of this incentive for early adopters.
    • What is a token?
      A: A programmable digital asset built on Ethereum, EOS, NEO, or any one of the other crypto protocol platforms.
    • How do you create a token on Ethereum?
      A: By using the ERC-20, ERC-721, or ERC-1155 standard and creating a smart contract on it.
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#846

  1. What are the benefits of web 3.0 (decentralized internet)?
    Decentralized internet will give the opportunity for smaller companies to complete with giants. It would allow user to gain value but leaving them to the applications such as google and Facebook.

  2. What is a token?
    Token is either fungible or non fungible value on blockchain in order to perform predefined operations, instructions.

  3. How do you create a token on Ethereum?
    Token on Ethereum could be a smart contract in Solidity code using ERC-20 standard.

#847
  1. Enables you to build the protocol and allow building applications in your protocol and both of you grow together.
  2. Smart Contract is used to make token fungible or non fungible created on ETH or other blockchain networks
  3. You will need to do a smart contract with ETH or other blockchain platform
#848
  1. Web 3.0 gives you the opportunity to build decentralized applications. On new platforms such as Steemit the viewer is rewarded for watching content and likes/comments in crypto.
  2. Token is an application build on top of blockchain. There is two types of tokens build on ethereum blockchain.
  3. To create a token you need to write an application on top of ethereum blockchain.
#849
  1. The benefits are that the early adopters, that invest in the protocol, and not big centralized entities that build on top of the protocoll get rewarded.
  2. A token is a cryptocurrency that has no own blockchain and is built on another cryptocurrency that has its own blockchain.
  3. A token can be created by a smart contract using a token standard like ERC20.
#850

The protocol also gains value like eth unlike http or TCP and through good business model all participants will gain some value and the value not will be only gained by some gaint tech companies.

Token is a currency which is programed in a smart contract which is used to incentives users and store the value for the dapp.

By using a programming language such as Solidity and using ERC20 Standards.

#851

  1. In essence, power and economic gain would move back from large centralized players to individual decentralized ones. It would also allow for more privacy and security of individual users.

  2. A token is a currency issued by a particular smart contract that is used to govern its programmed economic dynamics.

  3. Tokens are created by the code in smart contracts.

#852
  1. The value on protocol level changes completely and it allows a completely new distribution of gains
  2. It is a smart contract that contains a map of account addresses and their balances with additional informations like name, max.supply etc… A programmable digital asset.
  3. First you decide what kind of token you want to create (fungible or not). Based on that you can decide if and which standard way you prefer to deploy your token on the ethereum blockchain
#853

1 What are the benefits of web 3.0 (decentralized internet)?
End of big giants…users compensated for content/work…less censorship.

2 What is a token?
Programable digital asset, (fungible or NFT) utilizing smart contract

3 How do you create a token on Ethereum?
By using the ERC20 Standard.

#854

What are the benefits of web 3.0 (decentralized internet)?
Smaller companies have a chance to compete with corporations, with benefits for the user. More competition, more variety, more innovation, more privacy, more security and more rewards. Underlying base technology can capture value and generate money, giving rewards and further innovate.

What is a token?
A token is a digital asset existing as a smart contract on a blockchain 2.0 (Ethereum , EOS, …).

How do you create a token on Ethereum?
A token is created by writing a smart contract on Ethereum blockchain. Its adviseable to use ERC20 standard.

#855
  1. Incentives, with which you can compete on open market. Utilization of the protocol.
  2. Token is a smart contract programmed as a coin on top of ETH platform
  3. By creating a SC
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#856

  1. Web 2.0 had a lot of improvements from it previous 1.0 version mainly because of Java Script, but it has failed to capture and reward value. Because of that, Web 3.0 was needed to enable rewarding to whom actually developed the technology instead of the middle man application (such as google and Youtube). Early adopters are incentivized via tokens to use the technology and spread it into the network

  2. To explain what Token is, it might be a good idea also to explain its differencies between Cryptocurrency and Altcoins. First of all, currency by definition it is an asset used to store value and medium of exchange. Based on that definition, only few digital assets might classified as cryptocurrency (maybe only Bitcoin). Altcoins are all the coins that are an alternative to bitcoin; derived from the BTC open source as hardfork or created their own blockchain. Most of the altcoins have their own independent blockchainTokens are any fundable digital asset built in the top of another blockchain, such as Ethereum, following the ERC20 standard instructions.

  3. By writing a smart contract in blockchain using a language following the ECR20 standard requirements. Ethereum network contain pre set smart contracts written in Solidity that facilitates token creation.

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#857

  1. What are the benefits of web 3.0 (decentralized internet)?
    transparency – no more major corporation; fewer middlemen; privacy; incentivize creators to provide unique services.

  2. What is a token?
    A token is a digital asset built on top of the blockchain by creating smart contracts.

  3. How do you create a token on Ethereum?
    On Ethereum, the tokens are created as the smart contracts following the ERC-20 standard.

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#858
  1. What are the benefits of web 3.0 (decentralized internet)? With Web3.0 you have different websites that have their own cryptocurrencies, they have their own economic model in which the network effect provides incentive to early adopters to help grow business.
  2. What is a token? Digital asset
  3. How do you create a token on Ethereum? creating a smart contract using the ERC20 standard.
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#859

  1. Value can be captured at protocol level. Early adopters can be incentivised to contribute with content to the network. Less censorship is a possibility. Information can be decentralized.

  2. A token is a currency built on top of a blockchain. It can be used to exchange value just like a currency.

  3. By creating a smart contract and use an ERC standard. Fungible standard like ERC20 or non fungible standards like ERC721 or ERC1155

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#860

  1. What are the benefits of web 3.0 (decentralized internet)?
    Some of the benefits of a decentralized internet are capturing value on a protocol level, the ability to create your own economic model, design a fairer incentivized system where users are rewarded for contributions to the network instead of surrendering all value to a centralized system whose only incentives are ratings, advertising, and clicks.

  2. What is a token?
    A token is a cyrptocurrency built on top of a blockchain & it’s native coin; such as any ERC20 token built on top of the Ethereum blockchain.

  3. How do you create a token on Ethereum?
    A token can be created as a smart contract on Ethereum; utilizing a code standard such as ERC20 in order to be interoperable with wallets & exchanges on day 1.

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#861
  1. New players in the game can incentivize early adopters in their platforms to participate and create value for the platform. Tokens, or digital assets can be granted and exchanged allowing markets to surge and new projects and developers to disrupt major industries that are being currently dominated by giants.
  2. A token is the unit of value which represents a smart contract. It can be a financial unit, or represent goods and services or assets from a company. It can also be used in gaming to represent objects that can be acquired.
  3. Tokens are created through smart contracts following ERC 20 standards in the case of Ethereum or different standards for other protocols such as EOS.
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