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The main benefit is that there is no central authority who has control over the web 3.0 applications.
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Token is a cryptocurrency built on top of a allready running blockchain platvorm such as Ethereum.
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There are token standards on Ethereum blockchain such as ERC20 or ERC721. They have specific standards that token creator needs to assign. After you set token specs and pay gas for smart contract transactions to Ethereum network you can run your own token.
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Hey @ivan ā¦
had a questionā¦
So in Ethereum, just after I create a wallet with Metamask for example, I notice that my public address is then actually visible in Etherscan - even though no transactions have taken place.
I am not sure and this is where I am hoping you can correct meā¦ but for Bitcoin I had always thought that a bitcoin private key (and public address) could in theory be generated with some Math on paper (albeit a very laborious task) ā¦ and this would mean that the bitcoin address is not visible in any explorer until its actually used in a transaction ?
thanks
E
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1.creates the opportunity for smaller businesses to get at tech giants like fakebook and google . This allows you to generate money in the ecosystem . very different from web2.0.
2. tokens are cryptocurrencies both fungible and non fungible running off of smart contacts on the etherium blockchain
3.you can create a token using the ERC20 ERC721 and ERC223 using a smart contract written in solidity
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- What are the benefits of web 3.0 (decentralized internet)?
- security
- privacy to a greeter or lesser extent
- share of value by all
- value of protocol
- value of smart contracts and Dapps and their success to increase value of the protocol currency
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What is a token?
A standard of exchange created upon a protocol and used as a way to create exchange of value within that creation ie smart contract or DAPP -
How do you create a token on Ethereum?
Depending on the type of Token you want to create there is protocol ERC20 for fungible tokens and ERC 71 and ERC 1155 for non fungible tokens.
1. What are the benefits of web 3.0 (decentralized internet)?
we have decentralized web that can give opportunity to small companies, so can compete aganis monopolies like Facebook , Googleā¦
2. What is a token?
Is a cryptocurrency made from Ethereum (ERC20)
3. How do you create a token on Ethereum?
You can create a token on the Ethereum network using smart contract.
- With web 3.0, small websites/early adopters have an advantage in kickstarting as early adopters will get handsomely rewarded. Decentralized so no middleman controlling which sites do well
- A token is a digital asset, fungible or not, based on a smart contract
- To create a token you write a smart contract using Solidity, according to ERC20 or another standard
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What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 has a bunch of decentralized websites and dapps being developed. The different
websites now can have thier own crypto currency, thier own economical model, built on
etherium, eos, or other smart contract platform, they now add another dynamic to the internet.
This allows small companies to compete with big companies, like Google.
What is a token?
dapps and smart contracts built on top of the Etherium platform have thier own
tokens. The tokens have thier own use cases and incentive models.
How do you create a token on Ethereum?
A token is created from a dapp or smart contract built on the Etherium platform using the ERC20
standard.
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Web 2.0 failed to capture value on a protocol level, and the value went to the few main big applications. With web 3.0 however, the value has moved to the protocol level. i.e no application built on Ethereum will be worth more than Ethereum.
In addition web 3.0 has allowed websites to have their own cryptocurrency and eco-system, bringing an entirely new economic paradigm to the internet. -
A token is basically any cryptocurrency that is built on top of a blockchain i.e Ethereum
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To create a token on Ethereum you will need to create an ERC-20 standard (or ERC-721/ERC-1155 for NFTs) in a smart contract on the Ethereum network.
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Web 3.0 or decentralized internet allows for niche economic models to be explored which can give the value to the user in the form of tokens. Early adopters are incentivised to help push a new platform and this allows smaller startups or projects compete with giants such as google.
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A token is used to execute smart contracts and Dapps and pay for gas. Tokens incentivise early adopters and users of decentralized applications.
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Tokens can be created by using an ERC20 or other type of standard in a smart contract.
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Homework Web 3.0
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The benefits of Web 3.0 is that you can build on top of it utilizing smart contracts.
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Tokens are smart contracts that can be used to collateralize Dapps.
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Tokens on etherium are created using the ERC20 standard
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Homework web3.0 and tokens
1 the benefit of web 3.0 is that you can program money. Also you can creat currencies.
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A token is a digital asset created on a protocol.
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On ethereum tokens are created through smart contracts.
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What are the benefits of web 3.0 (decentralized internet)?
I see the benefits in web 3.0 because all the innovation happening as the internet becomes more and more decentralized. taking the power from giant institutions and governing bodies and putting it back into the users hands is always a huge plus. when people are not bogged down by over reaching and arching rule sets they become only limited by the limitations they put on themselves. Iām excited to see what wonderful ideas and innovations get explored as we age and march into the future.
What is a token?
From my understanding a token is a fungible smart contract that operates on an already existing blockchain for example Bat token or Chainlink, both operate on the etherum blockchain and can be easily exchanged between each other on the network.
How do you create a token on Ethereum?
From my understanding a token is created using the erc20 standard, the standard begins with a smart contract. its basic rulesets and functions are all laid out, finding creative and interesting ways to use them becomes the issue.
1. What are the benefits of web 3.0 (decentralized internet)?
- you can run unstoppable code
- you can build models that rewards the final user (for example in social network the creators of contents and user that comments on articles can get a reward as in Steemit, very different form Facebook model)
2. What is a token?
A Token is a thing that can be used for getting a good or service in a specific contest. A Crypto token is a type of cryptocurrencies that is staked upon the main blockchain (as in ethereum)
3. How do you create a token on Ethereum?
With a smart contract. Standards tokens are ERC20 (fungible token) and ERC721 and ERC1155 (not fungible tokens for games). Popolar tokens are Tether, Chainlink, Maker, etcā¦
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The benefits of Web 3.0 are early adopters can benefit by owning the crypto currencies associated with the protocols and increase in value over time, unlike Web 2.0 where the developers of those protocols didnāt capture the value from them, instead the value went to the applications that became huge corporations like Google etc. Also censorship, confiscations and centralized control would be much more difficult for totalitarian regimes to accomplish.
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A token is a digit asset that can be fungible or non-fungible, the majority of tokens are ERC20 tokens which are part of the DAPPs built on top of the Ethereum Blockchain Network.
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A token is created on Ethereum by creating a smart contract on the Ethereum Blockchain according to the ERC20 standard.
Amazing answers! Keep it up!
Felipe.
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Hi Emmett! Actually, both explorers will let you check out an address, even if you just created it. You can think that all accounts are already created beforehand, but not all of them have owner yet.
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ERC-721. I know you meant that! 
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How does web 3.0 help these small companies to compete against these giants?
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Hi there! Normally, we use say that the cryptocurrency is the native coin of the blockchain, and the token is built on top of the cryptocurrency platform.
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What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 will capture the economic value to the underpinning protocols. Enabling free market competition based on new network effects, removing centralized monopoly of giant corporations like Google and Facebook. Enabling Data ownership and removing the middle man. -
What is a token?
A token realistically can be any programmable medium of exchange, fungible and non-fungible. This could be excess electricity, shares in a company, ownership rights, digital items, governance, rewards, etc. -
How do you create a token on Ethereum?
You can create a token on Ethereum any way you want by creating a smart contract. It is, however, preferable to use an established standard such as ERC-20, because once implemented, any new ERC-20 token can be used by wallets and exchanges.
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