Homework: Web3.0 and Tokens

Ethereum 101
#1368

1.) Web 3.0 captures value on the protocol level rather than just on the application level as with web 2.0. Smaller companies are now able to compete with huge monopolies such as google. Users of web 3.0 are incentivised to perform actions and engagements within a given Dapp in web 3.0. Decentralized websites can create their own currency and custom economic model to suite the needs of their industry or niche.
2.) A token is a representation of a smart contract operating on the Ethereum blockchain. As compared with Ethereum coin that in and of itself represents the totality of all the tokens operating on the Ethereum Blockchain.
3.)A token is created by building smart contract applications on top of Ethereum.

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#1369

  1. A benefit of web 3.0 is that smaller companies are able to incentivise early adopters of their product to help them gain more traction that they might not otherwise would have been able to do.

  2. A token is built by smart contracts and is programmable “money” or cryptocurrency. The smart contracts are built upon the protocols they use, for example Ethereum.

  3. One can create a token on Ethereum by creating a smart contract that holds to the ERC20 standard using Solidity to convert the “contract” into ByteCode. The Bytecode is then read by the EVM and executed.

3 Likes
#1370

  • What are the benefits of web 3.0 (decentralized internet)?
    To give control back to the users, where users can profit from their own work, and not just give away their content to large companies that will not reward them for what they have created.

  • What is a token?
    A token is a cryptocurrencry smart contract that is built on top of a main crypto platform. Eg. ETH is the platform, LEND is the token. Eg. EOS is the platform, Steem is the token.

  • How do you create a token on Ethereum?
    By coding a smart-contract.

1 Like
#1371

1.no middle man
Can trust the system not the people
Can literally code money

  1. Currency based data thats fungible or non fungible, it is also linked to a coin/smart contract
  2. Create a smart contract on eth
1 Like
#1372

1,no control of any government or authority and content creator will get more benefit
2,a token is used to store value and identify the contract or id in the blockchain
3,with a smart contract

#1373

  1. Web 3.0 will give real opportunity to smaller companies to develop, because the users are rewarded for participation by creating real value with their content. This way these small companies could be real competition for the giants like Google or FB…

  2. Token is a fixed value currency built on the given coin (ex. Ethereum, EOS). It is operated by smart contract.

  3. Token is created by smart contract using token standard, suche as ERC20 (fungible), or ERC721, ERC 233 (unique)

1 Like
#1374
  1. Web 3.0 allows for everyone to profit from their information and content instead of platforms receiving the wealth. There are many other benefits too. Cutting the middle man out will empower the human race like no other tool ever created.
  2. Tokens are fungible or non-fungible crypto currencies that can be built on the ETH network.
  3. Almost all tokens are created as ERC-20 tokens on the ETH network using smart contracts. An infinite variety of functions can be written into these programmable smart contracts.
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#1375

1 a - In web 3.0, there is the possibility to include a incentives for every user as compared to web 2.0 where the incentives are only for the owners/creators of the app/website
1 b - Small/New projects can compete with bigger companies.

2 - A token is the cryptocurrency/digital asset created by developers to be used by smart contracts or Dapps on the Ethereum blockchain.

3 - Tokens are created using the ERC20 (for fungilble) and ERC721 / 1155 (for NFTs) standard on the Ethereum network.

1 Like
#1376
  1. Benefits would be allowing smaller companies to compete with monopoly-like companies, and more value goes from peer to peer.
  2. A token is a fungible or non-fungible programable digital asset developed on smart contract platforms.
  3. Smart Contract
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#1377
  1. The destruction of monopolies! A decentralized web where people can build and participate without monopolies, centralized entities, and governments in the way. Incentives for early adopters.
  2. A token is a smart contract written in code which is used in the ecosystem and economy of the blockchain it is built on.
  3. On Ethereum, tokens can be created as fungible or non fungible, and are done so using the ERC20 standard, and ERC721.
1 Like
#1378

*** What are the benefits of web 3.0 (decentralized internet)?**
Can make it more user oriented rather than big giants dictate and take all the value, rewards are built into the protocol.
*** What is a token?**
An asset built onto the particular blockchain can be both fungible or non fungible.
*** How do you create a token on Ethereum?**
Using the standards given and a language like solidity to built it on

1 Like
#1379

  1. Web 3.0 is revolved around smart contracts, dapps, and rewarding content creators. Instead of all the wealth going to a centralized entity, it’s given to the people directly contributing to the network.

  2. A token is a smart contract containing it’s own currency built on top on a cryptocurrencies like Ethereum, EOS, NEO, etc.

  3. You can create a token on top of Ethereum by using smart contract standards like ERC20. This standard allows you to create all the necessary functions needed to create a token.

1 Like
#1380

  1. The value is on protocols on systems like Ethereum and Bitcoin in Web 3.0. Whereas Web 2.0, the value is on big corporations such as Google and Facebook. This allows smaller companies to compete with larger companies. Early adopters of these dapps on Web 3.0 are incentivized to use the dapp.

  2. Tokens are built on smart contract platforms like Ethereum. There are different types of tokens such as fungible tokens (erc20) and non fungible tokens (ERC721 and ERC1155)

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

1 Like
#1381

1: Decentralisation. It allows users to capture value from their content. It allows small businesses to compete with larger and removes the middle man.
2: A digital asset on top of a blockchain.
3: Create and deploy a smart contract to a predefined standard such as ERC20.

1 Like
#1382
  • What are the benefits of web 3.0 (decentralized internet)? Incentivizes users more, especially early adopters. Also keeps things peer to peer, trustless, and transparent
  • What is a token? A programmable digital asset built on top of a smart contract platform
  • How do you create a token on Ethereum? You can create a token on ethereum by coding a token using the erc-20 standard
1 Like
#1383
  1. What are the benefits of web 3.0 (decentralized internet)?
    The benefits of web 3.0 or decentralized internet is that it captures value on the protocol level. Applications can be built on top of these protocols. The creators are rewarded and own their content. You can also experiment with new economic models and dynamics such as steemit. Small companies will be able to compete with large corporations through economic incentives
  2. What is a token? Is created on the blockchain through smart contracts.
  3. How do you create a token on Ethereum?
    You create a token through smart contracts.
1 Like
#1384

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

    1. The internet will be decentralized, so not one or few entities will have complete control over the internet.
    2. Opportunities for Small companies can compete with big companies.
    3. Early adopters are incentivized to use the new platform because the earlier they join in the higher the token will be valued in the future.
      a. This makes the users more incentive to use it the dapps/ website

  2. What is a token?
    A token is fungible or non fungible digital currency/assets that is created on top of currency such as Ethereum.

  3. How do you create a token on Ethereum?
    By creating a smart contract which will be executed by EVM

1 Like
#1385

  1. The benefit of WEB 3.0 is related a redistribution if value, which right now has been captured mostly by the few big giants (Google, Facebook, etc…) who managed to get there first and build applications on Internet’s protocols, which instead didn’t capture any of these values. WEB 3.0 and decentralization aim to achieve the inverse by allowing for the most value being captured on the protocol level.

  2. A token is a smart contract/application realized on top of a smart contract platform (like Ethereum). It has its own use case, its own economy.

  3. A token is created on Ethereum using the Solidity programming language and utilizing one among several programming standards (the most used being ERC20 or ERC721/ERC1155 among others)

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#1386

  1. Decentralization and an actual free market. Right now, a handful of tech companies rule this space, and the world. Once it’s decentralized it will be used, maintained, and developed by the people.

  2. A token is a standard built into the Ethereum blockchain that allows users to deploy their own smart contract foundation that can later be developed for several different use cases. The Ethereum token standard allows for quick and easy interoperability with built-in functions or “features”.

  3. Creating a token on Ethereum starts by deploying whichever token standard best suits your needs. For example, if you’re launching your own cryptocurrency then an ERC20 token might be best.

1 Like
#1387

  1. Web 3.0 allows anyone to secure, transfer and compete for, value on a protocol level. This opens up the gateway for a more democratized network, where no node has absolute power over another.

  2. A token is the transferable unit of value in a network that is built using a smart contract platform like Ethereum, Neo, Waves, etc.

  3. By programming a smart contract within certain standards using a specific programming language like solidity.

1 Like