Homework: Web3.0 and Tokens

Ethereum 101
#1328

  1. What are the benefits of web 3.0 (decentralized internet)? - Using economic incentives (we all would like more money), smaller firms can attract users to use their platform and give real data/not centralized on actual value of i.e. good or bad content. The flow of money is not contained with a few larger players but rather can be spread across many others with good/great ideas. It allows for smaller firms to have more access to the marketplace and the current dominate players have less reign on the traffic of the internet. Hopefully, web 3.0 will have better content overall as a better competition platform for operating and connecting to the public exists.

  2. What is a token? - A unit of incentive created by the smart contract.

  3. How do you create a token on Ethereum? - Tokens are created through smart contracts as part of the DAPP experience.

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#1329

  1. Creators or companies can build their own economic models and earn more as adoption increases whereas centralized companies like Facebook and Twitter are the only ones that receive the rewards for their platform.

  2. Tokens are programmable money created by smart contracts built on the Ethereum network. Tokens can be fungible or non-fungible. Can be used to create new currencies, economies and models.

  3. Tokens can be created as smart contracts, programmable money, by using development language Solidity on the Ethereum network.

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#1330

Homework on Web 3.0, and Tokens - Questions
What are the benefits of web 3.0 (decentralized internet)?
It allows for the benefits got by the internet giants to be spread amongst different actors by utilizing different tokens to capture the value in different interactions (we saw the example of a social netowrk)
What is a token?
a token is a new type of cryptocurrency, it can be built on top of the ethereum smartcontrcts platform or in a different one.
How do you create a token on Ethereum?
By using the ERC20 standard (for fungible ones) or the others ERCxxx standards we saw (for not fungible ones)

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#1331

  1. Benefits of a decentralized internet include resistance to censorship and hacking, governance by consensus, ownership of one’s own data, and incentivized user adoption through token economy, which encourages a level playing field so smaller startups could potentially take on the giants.

  2. A digital asset that is built on top of a smart contract platform, like Ethereum or EOS.

  3. By writing and deploying a smart contract.

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#1332
  1. What are the benefits of web 3.0 (decentralized internet)?
    You can capture value on a protocol level. In web 2.0 there are only applications that captures value on top on protocols. Now big players like Google and Facebook take a lot of value that is centralized. And we all see how this plays out…
  2. What is a token?
    A token is fungible or not. Fungible tokens have the same value so they are equal. Not fungible tokens are unique in value (different properties and market price). A token is a representation of value of a network. Therefore it is used to give incentives to users to reward their efforts to work with the ecosystem.
  3. How do you create a token on Ethereum?
    You create a smart contract by using a standard (for example ECR 20). Within that standard you code functions like “function totalSupply()” and “function balanceOf(address account)”. The first one makes clear how many tokens are in circulation. The second gives balances of tokens that belongs to an address (wallets uses this information). The standards for creating tokens are important to make interoperability between ecosystems which each their token possible and thus general development more efficient.
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#1333

Unlike Web 1.0 and 2.0, decentralized websites are part of web 3.0 which allows protocol creator to be incentivized.

Token is a set of value in form of coins, points, certificates, in game items, such is used online on affiliated website.

Token are created by establishing and executing smart contract.

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#1334

  1. What are the benefits of web 3.0 (decentralized internet)?
    Value can be extracted from the protocol, which has not been possible in the past. Early adopters are incentivized to spread adoption for their own future wealth.

  2. What is a token?
    A token is a cryptocurrency built on another cryptocurrency. For example, ERC20 are tokens on top of the Ethereum coin.

  3. How do you create a token on Ethereum?
    The ERC20 standard is the most popular wayto create a token. Also non-fungible token standards like ERC721 and ERC1155.

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#1335

What are the benefits of web 3.0 (decentralized internet)?
The benefits of web 3.0 (decentralized internet) is the opportunity for protocols to gain value instead of only applications (Google, Facebook, What’s App). You’re also able to create your own applications(dapps) on platforms such as Ethereum and EOS to name a couple.

What is a token?
A Token is a digital asset created by a smart contract, built on top of a blockchain network like Ethereum.

How do you create a token on Ethereum?
A token on Ethereum is created by making a smart contract, coded in accordance with standard ERC20.

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#1336
  1. Web 3.0 (decentralized internet) will allow smaller companies and individuals to compete with the industry giants by creating models where early adopters/users are incentivized to participate. Basically they will be able to develop their own economic models and cryptocurrency by leveraging platforms such as Ethereum, EOS, Tron etc.
  2. A token is a digital asset or currency - fungible or non-fungible - created as a smart contract on platforms such as Ethereum, EOS etc.
  3. A Token is created on Ethereum by developing a smart contract that complies with ERC-20 standards (fungible token) or ERC721 and ERC1155 standards (non-fungible tokens).
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#1337
  • A benefit of Web 3.0 is that it allows for the development of niche economic models and networks. An example could be the BAT token, which is used in conjunction with the Brave browser. It’s an economic model that reward users for there attention on ads with BAT tokens, which the user can then exchange and also donate to content creators. This type of economic model was not possible on Web 2.0.
  • A token is essentially a smart contract built on top of a protocol such as the Ethereum network.
  • They form part of the smart contract which are comprised into applications known as DApps
  • A token is created on top of the Ethereum protocol
  • The tokens are built as smart contracts/small applications and are written using the language called Solidity, which is compiled to Bytecode, which is then executed by the EVM
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#1338

1.) Some of the benefits of a decentralized internet would be heightened security, the ability to pay peer to peer cutting out middlemen such as banks and brokers, and early adopters of 3.0 companies offer incentives that 2.0 didn’t.
2.) A token is a digital asset, created using a smart contract used on a blockchain.
3.) A token can be created on Ethereum by using the erc20 standard.

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#1339

My Answers:

  1. Opportunity for the Protocols and Users to gain value instead of only the applications
  2. Digital assets/smart contracts that run on the Blockchain
  3. They are created as smart contracts on Ethereum
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#1340
  1. The programmers can get pay for they protocols, much more secure and you can add wallets to your web browser. the power goes back to the consumers and not only for the biggest companies on the web.
  2. are a type of cryptocurrency that represent an asset or specific use and reside on their blockchain. tokens are often used to raise funds for crowd sales
  3. a token can be created by using on Ethereum, standard ERC20
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#1341

The benefits of web 3.0 are that contributions to the decentralized network are not capitalized on by the big tech giants only but by it’s users. Also, smaller companies will have fair opportunities to compete with tech giants as early adopters can gain value early on in the release of their product using cryptocurrencies.

A token is code/smartcontracts built on top on blockchains like ethereum/EOS.

A token can be created by creating smartcontract code on top of a blockchain like Ethereum.

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#1342

1- In WEB 3.0, the protocols actually do capture the value, and participate indirectly in the success of the Dapps built on them *eg ETH".
2- A token is “coin” used in a smart contract built on Ethereum (Eg ER-20 standard). They can be fungible or non-fungible, and enable the commerce on the Dapps built on protocols like Ethereum
3- A token is actually built using a smart contract, typically on a standard like ER-20. The contract sets parameters and tracks the token balances separately.

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#1343

1.) the value created buy the developer is recognized in this latest version of the web.
2.) a term that has been reused to explain the smart contract and helps to qualify the fungiblity of said token.
3. You must understand solidity well enough to build a smart contract on ETH.

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#1344
  1. The benefits of web 3.0 is that protocols instead of the application itself to give value by enabling early adopters to benefit from web 3.0 systems like Steemit. It also enables more people to be able to compete with etch other on a more even playing field, where Web 2.0 programs like Facebook are “top down” monopolies where the average guy would not be able to compete, thus losing diversification and choices for us all.
  2. a Token is a virtual currency on the blockchain that represents and give value to an asset. IT is basically a smart contract on the Ethereum blockchain. IT can also be used in an ICO.
  3. You can create a token on the ethereum blockchain by creating smart contracts using Programming languages like Solidity.
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#1345

  1. What are the benefits of web 3.0 (decentralized internet)?
    It allows small businesses to grow as the early adopters are incentivized to use the platform.

  2. What is a token?
    A token is a digital asset existing on the blockchain, which can be fungible or non fungible.

  3. How do you create a token on Ethereum?
    Smart contracts, most follow a standardize method (ERC-20, ERC-721 etc).

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#1346
  1. This gives new start ups the ability to help drive adoption by giving an incentive to people to use new networks, economies, and applications.
  2. A token is a smart contract created on the Ethereum platform.
  3. By creating a smart contract.
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#1347

  1. For me the main benefit is opportunity, in such a way that small projects can now compete in the market with the main companies. The ability to compensate users as a reward for them activity is also a very important benefit, as well. Not to mention the fact that it also avoid the need of a middle man authority and therefore peer to peer became more and more the standard.

  2. A token is a representation of value created on the blockchain. It can be a fungible one or nft (non fungible token).

  3. One can create a token just by writing code on smart contract.

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