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The benefits are that it can bring opportunity for protocols instead of the applications. As well as money will not go to the one that gets the most attention, but everyone. Also that with the interaction with the users on the platform can bring the creator to improve the platform so that everyone likes the content they’re showed.
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A token is a currency or value based on digital coins. They can also be fungible or non fungible depending on their position.
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Tokens can be created with smart contract.
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It enables smaller companies to capture and incentivize early adopters through their own tokenomics model; thus, riding the internet effect and take on the competition with the big internet companies.
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In the tokenomics context, a token is a digital asset (fungible and non-fungible) created using a smart contract.
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Using Solidity to create the token’s smart contract following one of the networks standards, like for example the ERC-20 for fungible tokens and the ERC-721 for the NFTs.
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- What are the benefits of web 3.0 (decentralized internet)?
Value can be captured on the protocol level, and early adopters can be incentivized to join the network. Less value concentration for middlemen.
- What is a token?
A token is a digital asset that can be programmed. A token can be seen as an abstraction of a real world value.
- How do you create a token on Ethereum?
A token can be created by creating a smart contract using the ERC20 standard.
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- What are the benefits of web 3.0 (decentralized internet)?
helping small businesses grow. - What is a token?
a digital asset. - How do you create a token on Ethereum?
with code.
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- Value exchange, decentralised ( independent of enterprises capturing the whole value chain) through dapps
- An ERC20 token on the Ethereum blockchain that has it’s own value exchange governance and is compatible and created on the Ethereum blockchain
- By programming it through standards in a smart contract on the Ethereum blockchain
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- The user can get rewarded for content and engagement with the network instead of a few big centralized cooperations.
- The user controls the content because it it decentralized thus harder to censor.
- Everybody benefits from growing the network. Because there is an incentive (money) to help the network.
2 A token is an asset or utility and the result of a predefined program/smart contract running on a blockchain.
3 see 2
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- create underlying protocols that will be able to generate money that wasn’t taken advantage of in web 2.0
- a token contract built on top of Ethereum.
- creating a smart contract to create tokens.
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- the protocol layer finally gets the piece of value it deserves, more users that use the protocol means the protocol value and trust goes up, so value of network as a whole goes up, does not just wind up in the hands of application owner; users (and also developers) are incentivized to use decentralized apps as it helps the community, helps smaller businesses compete with the big boys in a natural way and at better level, things can be more transparent
- a token is an asset managed by a smart contract built on an existing protocol (like etherium, eos), it can be a fungible or nonfungible asset providing some kind of value to the user
- by writing a smart contract based on erc20 standard and deploying it on the eth network
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Hi @Ibrahim_Moufawad1
Quite close sir, token is a cryptocurrency built on top of an existing blockchain. To mention few, Ethereum, EOS, Tron and Harmony etc.
If you have any more questions, please let us know so we can help you! 
Abel S.
Hi @shaakirah_B
Quit close,
1, The benefit of distributed ledger technologies and decentralisation in Web 3.0 is that you can follow your own data and inspect the code behind the platforms you choose to use. You don’t need to trust a major corporation.
2, Token is a cryptocurrency built on top of an existing blockchain. To mention few, Ethereum, EOS, Tron and Harmony etc.
3, A token can be created as a smart contract in Ethereum by following ERC standard.
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- What are the benefits of web 3.0 (decentralized internet)?
With Web 3.0 the people own the economy and it’s information as opposed to a few giants owning and selling peoples information back to them.
- What is a token?
Tokens are digital assets which can programmed in a wide variety of protocols and can be thought of as transferable units, since tokens never actually leave the blockchain. Accounts only have access to the rights to move tokens around.
- How do you create a token on Ethereum?
Smart contracts built on Ethereum can host their own tokens. A common way of hosting tokens on Ethereum is the ERC20 token standard
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Benefits of Web 3.0 are:
Efficient searching, better marketing, more efficient web browsing, effective communication. Privacy, transparency, increased information linking. -
Token is the digital assets built on top of ETH blockchain a smart contract Called DAPPS.
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Token can be created as a smart contract. To create a token we just need to change the name of the token.
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What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 opens up a new dynamic in which users, not the large corporations, capture value from viewing content. It also creates opportunity for development of new dApps. -
What is a token?
Smart Contracts built on the Ethereum network can represent their own cryptocurrencies in the form of Tokens which can be either Fungible or Non-Fungible. -
How do you create a token on Ethereum?
A token can be created on Ethereum by developing a smart contract programmed according to the
ERC-20 standard for Fungible tokens.
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- What are the benefits of web 3.0 (decentralized internet)?
The benefits are that the value is at the protocol level. The DAPPS or APPS that go on the network are dependent on Ethereum, in this case, so any projects succeeding on Ethereum adds value to Ethereum as well as the project itself.
- What is a token?
A token is a representation of the reward system that is being created by the projects being developed on WEB 3.0. These tokens are also being used to pay for gas, such as in the case of ether tokens. Tokens are also being used to reward users, or participants, that contribute to these projects.
- How do you create a token on Ethereum?
A new project being developed on Ethereum would benefit from creating a token to entice early adopters, or investors, on to their projects. The tokens would be used to reward investors for their participation in the projects. In essence, developers create their own economy with the introduction of their own token when they create a project. This allows more leverage in competing with big-name companies.
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answers:
1 Content creators and consumers will in theory be able to benefit from their own interactions through Tokens and reward programs. The success of new projects has a cumulative effect on the whole network as opposed to consolidating all the value in the hands of a few monopolies on data and advertising space in the case of web 2.0
2. A token is a unit of balance that can be earned and exchanged.
3. By programming a smart contract into a blockchain.
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Homework on Web 3.0, and Tokens - Questions
- What are the benefits of web 3.0 (decentralized internet)?
A. Value placed in the protocols, not the Apps. Monopoly reduction. Value in the user content added. - What is a token?
A. A currency based on a coin that has a smart contract to execute its functions. - How do you create a token on Ethereum?
A. By implementing a smart contract using a token standard on Ethereum
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- The benefits of web 3.0 is that it is decentralised allowing people to receive recognition and financial reward for their work.
- A token is a smart contract and can represent a physical object or monetary value.
- You can create a token on ethereum using the ERC20 standard which has to include a given set of functions.
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- The value created by the user goes to the user. The creator of a Dapp can issue tokens as a reward for users if the contribute to the community around the Dapp. (Assuming the Dapp is some kind of social network; forum, game etc.)
- A token is a programmable asset and it is resembling of corporate stocks, bonds, options etc. You can be rewarded a token for something, and you can purchase a token on an exchange.
- A token can be created by using for example Solidity and applying ERC20 standard if you want fungible tokens, for non fungible tokens NFTs you use ERC721 or ERC1155.
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- less monopolies. incentives for early investment in businesses. tokens are not monopolized by huge businesses.
- programmable digital asset
- following ERC20 standard.
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- Value can be captured on the protocol level
- Is a smart contract that run ontop of Ethereum
- By using a smart contract on Ethereum
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