Homework: Web3.0 and Tokens

Ethereum 101
#985

  1. Web 3.0 benefits all users with the ability to derive and transfer value between it’s users. This is in sharp contrast to the characteristics of web 2.0 where the value is only obtained by the centralized giants who have monetized our information transferred across the base protocol.

  2. A token is a mixture of the smart contract and a web protocol. Essentially this mixture is known as a dapp

  3. To create a token on Etherium, you will build a smart contract that uses the ERC20 standard, and a traditional web application that is structured specifically for your use case.

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#986
  1. provides an environment for early adopters to delevlop smart contracts and or dapps
  2. Runs on top of a platform like Ethereum etc
  3. using a protocol such as ERC-20 and programming a smart contract.
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#987

Answers:

  1. The benefits of web 3.0 are the causes of a lot of decentralized applications (dApp) being built on top the Ethereum network. It brings together a lot of possibilities to the decentralized platform eliminating 3rd party involvement and cater across higher transparency.

  2. A token is a programmable digital asset which builts on top of a coin like Ethereum. It represent ownership if an underlying real-world asset.

  3. A token can be created as a smart contract on top of the Ethereum network.

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#988

Homework: Web 3.0 and tokens.

  1. Web 3.0 enables Dapps to engage on social network platforms where early adopters are given economical incentives for contributing content, therefore enabling small companies to compete with large corporations.
  2. A token is a fungible trade-able unit of value built on the ethereum platform.
  3. You initiate a smart contract and use a ERC20 standard.
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#989
  1. What are the benefits of web 3.0 (decentralized internet)?

Protocols absorbs the value instead of centralized apps like in Web2.0. Web3.0 allows decentralization from building apps to creating new business models. Users are more free and can also absorb value by contributing their time on the app, by doing something for the app or just by using the app built on top of web3.0

  1. What is a token?

A Token is a digital representation of value; it can be a coin, it can be an smart contract, it can be both. The interesting thing about tokens is that can absorb value and can be communicated through open source blockchains.

  1. How do you create a token on Ethereum?

By following the ERC20 Token standard.

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#990

Ahhh!!! thank you for that extra info as well. It’s noted.
this is what happens when you study late at night… :smiley:

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#991

  1. Everything that is decentralized is good! More transparency, fewer middlemen, more privacy. With all this, it is easier for creators to connect directly with the consumers.

  2. A token represent a particular utility or asset. It can represent any asset that is fungible and tradable.

  3. You create it through the use of a smart contract.

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#992
  • What are the benefits of web 3.0 (decentralized internet)?
    smaller companies can compete with large corporations. More fairness, less Dinosaurs
  • What is a token?
    A Token is a Digital Currency. A Token can be built in the ERC 20 Standart, which is built on Ethereum.
  • How do you create a token on Ethereum?
    With a Smart Contract.
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#993

  1. Benefits of Web 3.0 (decentralized internet) include, censorship resistance, lower barriers to entry for entrepeneurs, the ability to financially incentivize early adopters, ownership of digital or personal date, reducing the friction of the rent seeking middle men and reduced need to trust third parties.

  2. A token is a fungible (all tokens are interchangeable with each other) or non fungible (each token is unique) digital asset that represents value that is a second layer on top of the Ethereum blockchain. Examples of fungible digital assets are money, shares in a business/land. Examples of non fungible assets are weopons or items of clothing in a computer game.

  3. You create a token by programing it in a smart contract on Ethereum by programing it in ERC 20 (fungible) or ERC 721 or 1155 (non fungible)

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#994

Correct, but not all tokens are fungible. ERC-20 tokens, for example, are fungible and ERC-721 tokens are non-fungible (like digital baseball cards). You will see more about this topic later on! :wink:

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#996

Oh, I see! Thanks for the info! :slightly_smiling_face:

#997

  1. What are the benefits of web 3.0 (decentralized internet)?
    anyone can have applications running on the system that help/compensates individuals and smaller companies to build their own tokens that is decentralized

  2. What is a token?
    It is the economical part of your application that gives it unit of value

  3. How do you create a token on Ethereum?
    Decentralized applications and smart contracts

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#998
  1. What are the benefits of web 3.0 (decentralized internet)?

Its allow to people to also get benefit from the entire network by creating on top of it. Its capture the value for the creators and not for it self only. This create a global freedom for people to contribute and get the value of their work.

  1. What is a token?

A Token is an asset that capture value and have many usecases. In most of the cases can be transfer and own by the people.

  1. How do you create a token on Ethereum?

Depending on the token you want to create, you do it through a smart contract. Using the right standard for that token. You can also create Tokens with different standards defining by yourself, as long as you write the smart contract in correct way.

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#999

  • What are the benefits of web 3.0 (decentralized internet)?
    Early adopters are incentivized to get in first and contribute.
    By contributing, they earn tokens.
    As the project becomes mainstream and the user base increases, the value of tokens also increases.
    The early adopters have an interest to promote the project in order to gain more users.
    Users go up, Token value goes up.
    This economic incentive makes it easier for small companies to compete with large corporations because it attracts people who want to make money, and everyone wants to make money.

  • What is a token?
    A token is a currency created on top of of a smart contract platform.
    Ether (ETH) is a coin but all cryptocurrencies on top of ethereum are tokens.

  • How do you create a token on Ethereum?
    Tokens are created by creating smart contracts that run on the Ethereum blockchain.

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#1000

1.Any.one can create a coin. Using standard ie.ERC20.
2. Using ERC20 standard it will sit on top of all compliant platforms
3. Programming Solidity language in ERC20 standard.

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#1001

  1. It incentivizes early adopters to use a certain platform by offering financial rewards. Value is captured at the protocol level enables smaller users to be able to compete with large corporations.

  2. A token is a unit of value created on top of an existing blockchain network.

  3. A token is created by implementing a smart contract using a token standard.

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#1002

1- With Web 3.0, the common user, and especially the early adapter of a social network or other platform where interaction exists, would have a chance to profit from using it- from providing valuable content. As it is now with web 2.0, only the companies that have created these networks are profiting from our time and energy in using their platforms.

2- A token is a cryptocurrency on top of ETH. Tokens are actually smart contracts which represent their own cryptocurrencies. Tokens can be fungible, which is the most popular type (all valued the same), or non-fungible (used in gaming). The fungible tokens follow the ERC20 standard, and the NFT’s follow other standards such as ERC271 or ERC 1155.

3- A token is created by executing a smart contract on top of ETH. You must pay for these smart contracts using ETH tokens.

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#1003
  1. What are the benefits of web 3.0 (decentralized internet)? Rewards/incentives can be earned by early adopters and network users which creates a greater dynamic of innovation and use over time.
  2. What is a token? A token is a a digital asset built on Ethereum or other networks like EOS resulting from the execution of smart contracts.
  3. How do you create a token on Ethereum? Tokens are created as smart contracts are executed through the usage of fuel. Ethereum will result in the ethereum coin but other platforms will create tokens.
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#1004
  1. So I guess the benefits of Web 3.0 are that you get a reward based on your work, sadly smb who invented HTTP is not getting rewards hence FB and google are. Increased possibility of small startups and companies to compete with whales.
  2. A token is a programmable digital asset created on the base of such coins like ETH, EOS, etc…
  3. So to create a token on Ethereum you have to write a smart contract in Solidity language within ERC20 standard or other standards existing such as ERC233, ERC721(creating non-fungible tokens)
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#1005
  1. Economic
  2. A token is a digital asset that is created on top of the Ethereum network.
    3.By deploying a smart contract that follows the standards such as ERC-20.
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