Homework: Web3.0 and Tokens

Ethereum 101
#1248

-A decentralized internet would give the opportunity to smaller companies to compete with larger corporations/conglomerate like Facebook and Google. Early adopters are incentivized to use the new platform as they will be rewarded with a higher number of tokens than someone who use it later in a platform’s life cycle when adoption as well as the value have increased.

-A token is a cryptocurrency/digital asset (fungible[eg ERC 20] or non-fungible[eg ERC 721]) that is developed using a smart contract (ethereum, EOS, Tron, etc.)

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

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#1249

  1. A more democtatised and transparent internet where anyone with the relevant skills can potentially contribute as opposed to only large companies dominating.

  2. A digital asset created on top of a smart contract platform such as Ethereum. Theyre often used to build their own token specific internal economies.

  3. Using a smart contract.

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#1250

  1. Web 3.0 allows for smaller players to compete with economic incentives to early adopters.

  2. A token is a digital asset based on a smart contract which holds some value and can be transferred between addresses.

  3. You create a token on Ethereum by implementing the ERC20 protocol in a smart contract.

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#1251
  1. Web 3.0 add the concept of token economy, where, as earlier adopters, it possible to create new business where a service, new dapp or platform can grow thanks to a an incentivize policy.
  2. A token is the economic asset of any new project made on blockchain. Could be fungible (each token has the same value and is not distinguishable) or non fungible (each token is different from another, usually because it represent a unique element or object).
  3. A token is create through a smart contract built on Ethereum network or any other blockchain where it is possible to create smart contract. A token on Ethereum blockchain has to follow ERC20 standard.
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#1252
  1. users can access data from anywhere-live interaction between users, bots, software applications
  2. A digital asset created on top of the Ethereum network
  3. Token is created by a smart contract programmed in Solidity or other EVM language.
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#1253
  1. the web will become more decentralized. It also provides plenty of new opportunities as tech and use cases evolve constantly.
  2. Digital “Asset” coded on top of ETH network using a smart contract.
  3. a token can be created on ETH by deploying a smart contract.
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#1254

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3 gives an oppurtunity to grow smaller companies and compete with bigger companies like google , amazon .

  2. What is a token?
    A token is digital asset build on blockchain . It can be fungible or non fungible . Every token has its own usecases . We can even say that the token is an economic representation of smart contract / Dapp built on ethereum or other blockchain .

  3. How do you create a token on Ethereum?
    Ans - By running a small node / smart contract on ethereum blockchain .

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#1255
  1. Benefits include, decentralised applications, decentralised finance, value over internet, decentralised autonomous organisations (DAO)
  2. Token is a currency (e.g ERC20) that sits on top of the base protocol (ETH) and is usually part of a decentralised application (DAPP).
  3. Using the of the standards such as ERC20, you need ETH to do anything on the base protocol.
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#1256
  1. Value can be extracted at the layer level. More decentralized through peer to peer interaction
  2. Tokens are a way to measure store and exchange value on the blockchain
  3. With solidity and ERC20 protocol
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#1257
  1. Early adopters can be rewarded with tokens that have value
  2. The value mechanism of a Dapp built on Ethereum
  3. Use the ERC-20 token standard and build the Dapp
#1258
  • web 3.0 will allow others to compete with big google and fb; better user experience with users interacting more and creating more content.
  • A token is a representation of a value or a utility. (currency, user experience ehnancement, ownership of something unique, etc)
  • A token can be created through a smart contract
#1259

  1. Benefits of web3.0 is that early adopters can profit and companies can earn make profit directly with the growing network and don’t need to wait for a network effect hit after some time.

  2. A token is asset build on top of a smart contract platform like Ethereum.

  3. You create a token on Ethereum by writing and deploying a smart contract.

1 Like
#1260
  • What are the benefits of web 3.0 (decentralized internet)?

Privacy, Data Ownership, Economic Incentives, Unstoppable, Trustless

  • What is a token?

a Token is a (fungible or non-fungible) digital asset created by a smart contract, built on top of a blockchain network.

  • How do you create a token on Ethereum?

write a smart contract in Solidity code using the ERC-20 standard. the requirment is the inclusion of the total supply function, totalSupply(), then executed by the EVM and validated by the blockchain nodes.

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#1261

1 - Is safier, it helps new users by offerring real financial rewards, Unstoppable, Trustless

2 - A token is a fungible or non-fungible programmable digital asset that represents value on a blockchain protocol

3 - Implementing the ERC20 interface.

1 Like
#1262

  1. What are the benefits of web 3.0 (decentralized internet)?
    A: Whereas the majority of the value is almost entirely realized by the companies who have built the applications on web 2.0 (Google, FB, etc…), Web 3.0 has the benefit of allowing for potential value to be realized from the investors and the users of the foundational protocols as well as the applications being built upon it.
    As an example, the Ethereum coin is used as fuel on the network to move transactions and thus a profit potential with supply and demand. Next, the applications being built on Ethereum (ex. De-Fi) , which have potential investor value in their respective tokens as well as the yield gained for users from staking and lending within those applications.
    Web 3.0 also makes it possible for smaller, upstart ecosystems to arise alongside Ethereum and create their own profitable economies, (ex. Elrond, Kava, Cardano).
    Other examples of potential value in Web 3.0 lies with tokens from other applications such as de-centralized social networks, (ex. Hyprr and Somee) and browser interaction tokens (ex. BAT).
    In summary, Web 3.0 applications are a store of de-centralized potential value that millions or billions can interact and profit from, free of censorship and control. In contrast, applications on Web 2.0 is a centralized consolidation of control and profits for the creators and owners of the relatively few dominant mass use cases.

  2. What is a token?
    A: A token is the currency created to represent an asset, such as a smart contract, of an application and sits on top of an existing Blockchain.

  3. How do you create a token on Ethereum?
    A: Create a smart contract in Solidity, using a standard such as ERC-20, to create a token to represent the contract.

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#1263

1- Web3.0 captures value as incentives and rewards which goes up in time from token and ether platforms defined to encourage economic scalability and incentive models for early adopters

2- token are in various fungible and non fungible (NFT) forms such as incentives or rewards ( in unique coins, Dapps) which are embedded in smart contracts on ethereum platform in accordance with ERC20 standards

3- Tokens are created by hard coding them on smart contracts with help of ERC family standards, initiated by GAS for execution.

1 Like
#1264

Loved your first answer. It’s easy to understand. Great work. :clap:

Carlos Z.

#1265

  1. What are the benefits of web 3.0 (decentralized internet)?
    it incentivises and adds values on decentralized projects and dapps where as in the web 2.0 not everyone is incentivized.

  2. What is a token?
    a token is a small applicatiion built on top of the ethereum network which can also be a dapp

  3. How do you create a token on Ethereum?
    by using a smart contrat

1 Like
#1266

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

Instead of having to invest in infrastructure in order to host your service, and then having
to ensure that your service is profitable enough to continuously fund the infrastructure & staff,
the infrastructure is instead hosted by miners/nodes who are “payed” in order to maintain the network
for you, allowing you to provide a service much cheaper, and receive income based on traffic (I you so desire)

2. What is a token?

It is essentially a SmartContract that defines & holds a ERC20 value (other than ETH) in an account on the ETH network.

3. How do you create a token on Ethereum?

By creating & deploying a SC/eco-system on the ETH network.

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#1267

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

  1. You can value the protocol, and through a token incentive people to use your service especially as a early user.

2. What is a token?
2. A token is a digital asset built on ethereum set using standars such as ERC-20 (fungible tokens) or ERC721 / ERC1155 (non fungible tokens)

3. How do you create a token on Ethereum?
3. You create a tokens using smart contract, and using standards as a digital asset you will use fungible tokens (ERC-20).

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