Homework: Web3.0 and Tokens

Ethereum 101
#1228

1.) Web 3.0 makes protocols valuable, (unlike with Web 2.0 that made only big Corps. money) and the decentralized aspect would make it more secure for everyone and also remove the central controlling authorities and/or the middle man.

2.) Tokens are protocols built on a network, (ie Ethereum) and are smart contracts and can be fungible or non-fungible in nature depending the language used in the program.

3.) You can create a token using the programming language Solidity, (on the ETH blockchain) to create a Smart Contract with an ERC-20 token being used within the contract.

1 Like
#1229
  1. What are the benefits of web 3.0 (decentralized internet)?
    • Control is spread out more evenly
    • Competition could become more fair
    • Greater consensus for mankind’s trajectory could theoretically be reached
  2. What is a token?
    • representation of a particular asset or utility that resides on top of another blockchain
  3. How do you create a token on Ethereum?
    • With smart contracts
1 Like
#1230

  1. Some of the Benefits of Web 3.0 are users are incentivised while adding value to the network, any application or contracts that uses Web 3.0 has to pay the network.e.g if anyone wants to built a dapp on etherium he/she has to buy ether token to pay for gas. Hence increase in usage increases the value of the network.

  2. A token is a cryptocurrency created by a Dapp on a smart contract platform.

  3. A token can be created on ethereum by creating a smart contract on ethereum block chain.

1 Like
#1231
  1. What are the benefits of web 3.0 (decentralized internet)?
    The benefits of Web 3.0 are that it fosters innovation and therefore prevents monopolies on internet services.
  2. What is a token?
    A token is a native unit of currency for whatever decentralized app is running on the Ethereum network.
  3. How do you create a token on Ethereum?
    You create a token by using the Solidity programming language to create a smart contract and then basing the token for that contract off of the ERC-20 standard.
1 Like
#1232

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    – Web 3.0 allows value to be captured at the protocol level as opposed to the application level (as was the case with Google, Facebook, Amazon in Web 2.0)
    – Allows APPS, DAPPS, and Tokens on Smart Contracts platforms to create Social Networks and Economic Models with new cryptocurrencies and tokens to create value for many - an example is STEEMIT / STEEM - which allows an incentive for early adopters to get in early and hopefully obtain financial rewards through network effect

  2. What is a token?
    – Ether which is the native cryptocurrency of Ethereum is a “Coin”
    Whereas all the other cryptocurrenies on top of the Ethereum Smart Contract platform are “Tokens” that are based on the ERC20 Standards

  3. How do you create a token on Ethereum?
    – A Smart Contract based on the ERC20 standard is used to create a token on the Ethereum Smart Contract platform

1 Like
#1233
  1. What are the benefits of web 3.0 (decentralized internet)?
  2. What is a token?
  3. How do you create a token on Ethereum?
  1. Protocol creators can capture value, and early adapters of dapps can get more incentives than later users.
  2. A token is representation of asset in its ecosystem that is fungible and spendable, or non-fungible and transferable.
  3. You can create a token on Ethereum using Solidity and ERC20 standard as a smart contract.
1 Like
#1234

The Applications become smarter, more private, and more decentralized.

It will create a more open and transparent internet.

Efficient searching

Better marketing

More efficient web browsing

Effective communication

Change human interaction

The most basic definition of a token is that it constitutes a unit of value issued by an organisation and the fact that it’s accepted by a community and it’s also supported in a blockchain by using a smart contract to represent an asset or a utility.

By implementing a smart contract, using a Token standard as RC20 for example.

1 Like
#1235

1.Sites cannot be shut down. With incentive models new companies have a better chance at fair competition.
2. A token is a digitized asset on a blockchain network. Commonly built on the Ethereum network.
3. A token is created in a Smart Contract if fungible ERC20 standard if NFT ERC721 or ERC1155 are used.

1 Like
#1236
  1. remuneration at the protocol level and the application level opens to everyone contributing and adding value (ie, content creation).
  2. anything that runs ON TOP of a coin’s infrastructure.
  3. build smart contracts on top of ETH, utilizing ETH’s coin for gas etc.
1 Like
#1237

Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    Blockchain protocol like Ethereum can capture value. Eth produce cryptocurrency projects that runs its smart contract code and uses Ethereum Gas as fuel. If the next decentralized Google, Facebook, or Amazon are built on Ethereum, not only these companies raise values, but also Eth as well. This also brings incentives to earlier adopters to help small business grow because they can hodl the cryptocurrency of those small business as they grow in value.

  2. What is a token?
    A token is a digital asset that can be fungible or nonfungible. Fungible assets are interchangeable and nonfungible assets create demands and markets for individualized assets (in gaming and collectable industry).

  3. How do you create a token on Ethereum?
    Create a token by using smart contract, using standards like ERC 20, ERC 1155 can help speed up adoption.

1 Like
#1238

  1. Users can get value from their content, instead of giving it away to big corporations for free and allows small businesses to compete because of the networks high efficiencies and relatively low costs. Also, there could be less censorship due to central authorities having less control.

  2. A digital Asset or cryptocurrency that are fugible or non fungible, developed by using a smart contract.

  3. A token can be created on Ethereum using a smart contract.

1 Like
#1239

  1. What are the benefits of web 3.0 (decentralized internet)?
    Increased transparency, increased competition - fewer monopolies, more secure, can not be shutdown easily

  2. What is a token?
    A unit of value, created by a smart contract

  3. How do you create a token on Ethereum?
    A smart contract can be used to create a token

1 Like
#1240

Decentralized internet will allow the creation of value by small businesses and individuals. This will be a major shift from from the value creation scheme currently deployed on the internet,which funnels all of the value created into the hands of a few wealthy people and mega corporations.This will result in new innovation, a decrease in income inequality, and a higher quality of life for the recipients of the shift in value creation.
A token is programmable valuecreated on top of acoin ecosustem like etheruem. Baasicially it is an electronic version of an asset.
Tokens are created on the ethereum network using tiny pieces of code in the form of a smart contract which have an address on the network.

1 Like
#1241

  1. Increased competition, more security

  2. A special virtual currency that represents an asset

  3. You would create a token through a Smart Contract

1 Like
#1242
  1. The benefits of web 3.0 is that the value will be created at the protocol level (token economy) and this will allow ordinary investor compete with giants like google and facebook. An example is Steemit. The token economy means that even an individual can issue Token and sell it without being evaluated by banks, or without establishing a company.
  2. A token is financial fuel (inflation) for most crypto startups build on blockchain protocols such as Ethereum. Tokens have their own token economy.
  3. You create a token on Ethereum by implementing Ethereum token standards e.g. ERC20 code.
1 Like
#1243

Homework on Web 3.0, and Tokens - Questions

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

t creates an environment that gives the protocol value, the developers of dapps value and can grow fast with incentives by token economy.

  1. What is a token?

It´s a unit of value, often the currency of a dapp.

  1. How do you create a token on Ethereum?

Writing and applying a smart contract.

1 Like
#1244
  1. The value is captured on a protocol level and on the network.
  2. ETH is the native crypto currency on the network, all other coins programmed on top of it are tokens.
  3. A token can be programmed in a smart contract with ERC20 standard.
1 Like
#1245

  1. The main benefit of Web 3.0 is that web users can capture the value of what they contribute to the internet, rather than all of that value - or at least the most of it - accruing to a handful of tech giants (Facebook, Google, Twitter, etc). Another benefit is that it rewards early adopters by offering financial incentives, a good example being the Steemit social network.

  2. A token is a programmable digital asset running on a blockchain, such as the ethereum or EOS blockchains. Tokens can be fungible or non-fungible, and are programmed using smart contracts.

  3. You can create a token on ethereum by writing a smart contract code using one of the ethereum standards, such as ERC20 (fungible), ERC721 or ERC 233 (both non-fungible).

1 Like
#1246

  1. What are the benefits of web 3.0 (decentralized internet)?
    In contrary to Web 2.0 where the protocol wasn’t able to capture value, only the giants like FB, Google etc. did, in Blockchain it is different. (see Ethereum). Now as an early adopter, you can now incentivize people with tokens to join your community (steemit)

  2. What is a token?
    A token is a digital programmable asset built on a technology platform like Ethereum. It can be fungible or non-fungible (NFT) depending upon its purpose.

3. How do you create a token on Ethereum?
You create a token on Ethereum with a smart contracts using functions out of the ERC-20 standard for fungible tokens or ERC-721 and ERC-1155 for NFTs

1 Like
#1247

  1. An advantage of Web is it will give the small companies an opportunity to compete with the big ones, usually early adopter do not benefit much, but with We3.0 the protocol makes it possible for them to have a piece of the cake.

  2. A token is a dapp created on top of a existing coin, for example, the ERC20 tokens are created from Ethereum coin.

  3. You create tokens on Ethereum by writing smart contracts, using the already existing standard ERC20 codes

2 Likes