Homework on Web 3.0, and Tokens - Questions
- What are the benefits of web 3.0 (decentralized internet)?
= The value is captured on protocol level, it will increase the chances of small startups to succeed by being able to reward early adopters.
- What is a token?
= A token is a value created on top of Ethereum by a smart contract. It can be fungible or non fungible.
- How do you create a token on Ethereum?
= If you wish to create a fungible token you need to write a smart contract using ERC20 functions