Homework: Web3.0 and Tokens

Ethereum 101
#1047

1 .In Internet 3.0, the protocol captures the value, makes the system more democratic,
making everyone able to participate and have economic incentives.

  1. It is a digital asset created based on a smart contract.

3.The tokens are programmed with standardized code on the Etherium platform

1 Like
#1048

2.What is a token?

Quite close sir, but is far more than that, a token its a digital asset with an unique use case for an smart contract that reside on the blockchain; You can think as Ethereum (Ether native cryptocurrency) as the blockchain protocol used to develop smart contract within their own token, like DAI, MakerDAO (MKR token). The value per unit is given by the interaction for within the smart contract functionality.

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

Carlos Z.

#1049

3. How do you create a token on Ethereum?

To create a token you must design an smart contract within the ERC20 Token Standard (or other ERC standard, thats depend on the type of smart contract that you want to design), then your smart contract will have the ability to manage his own token for the operations or instructions that you have program on it.

Hope this gives you a clear view of the subject, keep learning! :slight_smile:

Carlos Z.

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#1050
  1. Web 2.0 has given rise to our recent “Monopolists”, like FB, YouTube - where you put on content and engagement for FREE as a user, and they make all the money (actually funcioning as advertisement-conpanies), and on top: now even executing censorship according to “political correctness” or Gvt. demands.
    Web 3.0 opens up the chance even for smaller companies / developers with outstanding ideas to gain market-share, by issuing own Coins / Tokens to reward the user´s contribution. Opens up the Internet again - which is not captured by only few huge Silicon Valley giants, becoming Billionäirs (with strong political influence as well… a danger basic values like fairness and equal changes for everyone)
  2. A Token is created by programming a SC on top of ETH-Blockchain, creating a “new cryptocurrency”. A Token should be fungible / identical (not like Gaming-rewards…)
  3. do not know yet how its done exactly, but in vague heory only:
    using a programming-language, like Solidity, Java or others supported by the ETH-blockchain standard ERC20, one can create a Small Contract, or DApp with a wider ecosystem, deploy a “new coin” / Token. But it depends on how this Token will be accepted and actually used by the market in order make it into a “good investment” to purchase this new Token, bubbles very likely to happen (because, no real difference to FIAT, where money is created out of thin air - a Token can also be just made up, but might not have any inner value yet)
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#1051
  1. Web 3.0 permits anybody to create their own economic model.The two major points to me would be that :a) It should permit the end user to regain total control of their data and have security encryption. Shared on a permission/need basis . b) eleimantethe central point of control of data , such as government , Apple , Google etc.Given the power of those in control, I wonder how this will play out.
  2. a token is a digital asset that is defined by the contract creator : monetary value , physical objects, intellectual
  3. a token is created on Ethereum by creating a smart contract
1 Like
#1052

Hi @dot sorry for late response.
Quite close sir, but is far more than that, a token its a digital asset with an unique use case for an smart contract that reside on the blockchain; You can think as Ethereum (Ether native cryptocurrency) as the blockchain protocol used to develop smart contract within their own token, like DAI, MakerDAO (MKR token). The value per unit is given by the interaction for within the smart contract functionality.

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

Abel S.

1 Like
#1053
  1. What are the benefits of web 3.0 (decentralized internet)?
    The developer, user and early adapter of the network layer get rewarded through coins and tokens. In contrast to web 2.0 network protocols HTTP, FTP etc.
  2. What is a token?
    A token is a smart contract on top of etherium that adapts a token interface like IRC-20.
  3. How do you create a token on Ethereum?
    By writing a smart contract in for example the language Solodity and making it public to the etherium network.
1 Like
#1054

Web 3.0 will enable decentralized, trustless, permissionless, peer to peer functionality, where user activity can be monitized allowing competition with the existing dominant corporations.

A token is a digital asset, developed using smart contracts hosted on a blockchain.

A token on Ethereum is created by programming a smart contract utilising the standards such as ERC20

1 Like
#1055
  1. Web 3.0 benefits the people in many ways. It allows decentralized websites and DAPS to be created & used as utilities that everyone can contribute towards. This captures the value that other centralized platforms use for monetary gains and returns it to the users.
  2. A token is a programmable digital asset that can be used with fungible & non fungible properties.
  3. Tokens are created through smart contracts, and follow the guidelines of their rule base.
1 Like
#1056

I guess you mistype the word ERC-20 right?

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

Carlos Z.

#1057

[quote=“filip, post:1, topic:8447, full:true”]
Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    Protocols are key drivers that are creating value.
    Ability to monetise any idea using the power of network and incentives
    Smart contracts are now deployable onto a web interface to execute any idea even at an entry level of a small business can express their views and opinion to the whole world thus leading to competitive edge with big corporation with networks support and value based on not only inflation but early adoption of an idea can be highly rewarding.

  2. What is a token?
    A token is a smart contract build on top of Ethereum blockchain to create a separate Use case, own economy and an incentives models for the users.

  3. How do you create a token on Ethereum?You can create a token by the use of a measure called GAS on Ethereum a separate smart contract code to be powered by the ethereum blockchain following an adopted Standard and specify the necessary use case for such token in the smart contract code which can the be links to a web interface connected to a Central Server and make accessible to a community.

1 Like
#1058
  1. What are the benefits of web 3.0 (decentralized internet)?
    web 3.0 will allow for seamless, peer to peer, permissionless transaction to occur between individuals. It incentivizes its use and rewards its users with their ability to come up with great idea using smart contracts.
  2. What is a token?
    a smart contract built on top of ethereum, which has its own set of economic principles/incentives
  3. How do you create a token on Ethereum?
    Tokens are created through creating a smart contract, and the smart contract is typically utilizing a standard like ERC-20.
2 Likes
#1059

  1. it gave value to the protocol unlike web 2.0 and allows people to gain financially to participate if your an early adopter

  2. tokens are an asset created on ethereum and other platforms that can be fungible or non fungible in the gaming space

  3. tokens are made with simple coding but requires more work to have more security to it

2 Likes
#1060

Thats right, it should be ERC-20, Thanks.

1 Like
#1061

What are the benefits of web 3.0 (decentralized internet)?
The benefit is that a decentralized internet is less manipulated and controled by big entities. Everyone can create content and make fair profit over the content.

What is a token?
A token is a little part of a smartcontract created on ethereum, eos or other platform. The token can represent value(money) or ownership of somethings(real estate, art, license ect)

How do you create a token on Ethereum?
Create your own smartcontract by using ERC20, ERC721 and ERC233 on the ethereum network.

1 Like
#1062
  1. You can earn money by being active on web 3.0 instead of giving money to big giants like Google and Facebook.
  2. Token is a digital asset created on top of Ethereum network.
    3.Using smart contracts.
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#1063

Some of the benefits of Web 3.0 are the ability to create new token economies, execute applications without censorship, allow for grass roots incentive business models.

A token is an asset built on a smart contract network. It can also be programmed to be fungible or non fungible.

To create a fungible token on the Ethereum network you could use the ERC20 standard for a smart contract.

1 Like
#1064
  1. The benefits of Web 3.0 is that smaller players can attract new users by offering real financial rewards. This also gives the platforms realistic methods to judge the value of the content that users are adding, so can offer real benefits.
    2, A token contract is a smart contract that includes account addresses and their balances. The unit of the balance is token, which represents physical objects, another monetary value or a third the holder’s reputation.
  2. On Ethereum you can create a token by smart contracts.
1 Like
#1065

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

Small companies will be able to compete with a giant companies.

What is a token?

It is a cryptocurency, on top of Ethereum technical platform.

How do you create a token on Ethereum?

On top of Ethereum we can display smart contract that represent their own cryptocurency, while all cryptocurency on top of that are tokens.

1 Like
#1067

  • What are the benefits of web 3.0 (decentralized internet)?
    The monetary benefits will be distributed to the base layer innovators. The people that developed the protocols that run the internet, Hypertext Transfer Protocol(HTTP) and Transmission Control Protocol(TCP) remain unrecognized and unrewarded. It is a huge step towards democratizing and securing the information infrastructure and guaranteeing the security of the benefits that flow from people’s ingenuity.

  • What is a token?
    A token is a currency built on top of a base layer blockchain like Ethereum.

  • How do you create a token on Ethereum?
    You can create it by using one of the ERC20 smart contract standards that is available.

1 Like