Homework: Web3.0 and Tokens

  1. What are the benefits of web 3.0 (decentralized internet)?
  • Transparency
  • Fewer Middlemen
  • Privacy
  • Data Ownership & Sharing
  • Incentivize Creators
  1. What is a token?
  • Crypto tokens are a type of cryptocurrency that represent an asset or specific use and reside on their blockchain.
  1. How do you create a token on Ethereum?
    A token can be created on Ethereum using a smart contract
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3.0 Gives small companies and individuals a chance to compete with the large companies in being paid for the value they create for a network. Hyprr is an example where the advertising revenue goes to the creators instead of the central corporation.

A token is a cryptocurrency that is built on top of another block chain. Usually etherium right now.

You follow the template of standards and functions as set out by the etherium protocol to create tokens.

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Like the ERC20 Standard :slight_smile: …basically by creating an smart contract that have all the ERC20 standard on it with a token programmed.

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

  1. Benefits: To get descentralized networks without a central censorship, and is posible get rewards due the differents interactions, the value is on protocol levels.
  2. A token is a digital Asset, build in the superior part of Ehtereum Blockchain.
  3. By Smart contract, using ERC20.
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  1. Web 3.0 gives the opportunity for small companies to compete with the big players - which will lead to more innovation and open markets. For the user an incentive via tokens for early adaption of the network can be named as benefit.
  2. a token is a smart contract on a blockchain - it can either be fungible (used e.g. as cyrptocurrency) or non fungible (used in games like cryptoKitties)
  3. you create a smart contract based on ERC20 standard
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  1. The benefits are, that now we can program Assets on the internet, which will lead to Decentralization of assets and more equal and fair distribituion of assets.

  2. Token can be a byproduct of smart contracts. Tokens are part of the ethereum network.

  3. By creating a smart contract on Ethereum network we can create a token.

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  1. In my view, main benefit of web 3.0 is, that give a chance small companies with low capital to compete and succeed on market with centralized giants like Google, Facebook, Microsoft. It will bring a more options for users, more freedom and less censorship like we can see every day from these giants.
  2. Token is digital currency. Is created by smart contract, which is running on hosted blockchain network. ( Ethereum, Eos, Tron… )
  3. I would use some widely used and accepted standard like ERC20. Then specify all properties like total supply of tokes, way how to release new tokens, reward for staking, ect. Then all this to be coded into smart contract and deploy to network.
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  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 will allow small companies to compete with the big players, because web 3.0 allows
    you to give an economic incentive to early adopters. The earlier you are the more reward
    (tokens) you get. Once mass adoption is achieved the value of the token go up in value.

  2. What is a token?
    Tokens are programmable money.

  3. How do you create a token on Ethereum?
    By programming a smart contract.

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  1. There are lots of benefits such as small companies being able to stand out among all other big companies, also it can be incentivised to people themselves not only companies.

  2. A Token is simply an application running on top of a network. its like your farming on someone else’s farm and pay rental in order to use the land.

3.Using smart contracts.

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Instead of value being captured by a few service providers, value can be transferred directly to users.

A token is a given blockchain’s currency that can represent an asset or be used for a service.

Most commonly, a token is created using the ERC20 standard via a smart contract.

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  1. The biggest benefit of web 3.0 is providing the opportunity for smaller companies to compete with large corporations that have monopolized the internet.

  2. A token is a digital asset developed using simple code called a smart contract.

  3. Smart contracts like LINK and MAKER are used to create tokens on Ethereum.

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  1. One benefit of Web 3.0 is the way in which a platform’s success is most fully expressed through the Dapps built at the highest level, while the value is captured below it and reaped the most at the platform level. Web 3.0 also provides a number of economic incentives in the form of tokens, which incentivize the user to use the dapp and the developer to build in support of standards, early network adoption, which incentivizes users to collect early on in hopes of reaping value if the network grows, etc.

  2. A token is a smart contract built on top of the ethereum network that has a specific purpose and use in a Dapp. Usage tokens can represent tradable currencies, points, tickets for use within the network, while Work tokens treat the user as a stakeholder and allow voting toward the direction of a network. Tokens also may function to set a monetary policy such as a constant inflation rate or fixed supply. Tokens can be fully customized but more often are built with a standard layout that defines a set of features that are geared towards particular use cases and integrate with supporting applications.

  3. To build a token in Ethereum, you must write up a smarty contract using Solidity. If built using a standard it, it may be interoperable in many applications that support it.

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1.The creators of the programs stand to benefit more if used on Web 3.0.
2. A token is a fungible or non fungible unit created on a smart contact.
3. By creating a smart contact on the Ethereum blockchain.

  1. The greatest benefit is that value is captured at the protocol level. The decentralization allows for tokens to run on top of Ethereum network and this facilitates new applications with potential new tokens, currencies, economies, etc.
  2. A token is a digital asset developed using a smart contract
  3. Tokens are created thru smart contracts
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  1. The decentraliced internet (web 3.0) can not be controlled by governments and allows small companies to compete with large companies as it can be incentivised using tokens.
  2. A ERC token is a decentraliced application DApp combined with a smart contact…
  3. A ERC token on the Ethereum network can be created by means of a smart contract.
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I guess you mean fungible instead of tangible.

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

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Homework on Web 3.0, and Tokens - Questions

  1. 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.

  1. 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.

  1. 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

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  1. The main benefit of web 3.0 would be taking away power from monopoly companies and giving it back to the users, incentivating people to use platforms or rewarding early adopters.

  2. It is a digital asset or currency created with a standard set of rules such as ERC-20.

  3. You can use the standard ERC-20 to create your own token on top of the Ethereum protocol.

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  1. What are the benefits of web 3.0 (decentralized internet)?
  • Transparency
  • fewer middle men
  • data ownership & sharing
  • incentivize creators
  1. What is a token?
  • An ERC20 token is a blockchain-based asset with similar functionality to bitcoin, ether, and bitcoin cash: it can hold value and be sent and received.
  1. How do you create a token on Ethereum?
  • code the contract.
  • Test the token.
  • If all good and tested/ verified code.
  • launch on main net
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  1. Decentralized internet will bring more opportunities for smaller companies to be able to compete with larger corporations. It can incentivize the early users of a new platform by rewarding their tokens that may increase more value in the future.
  2. It is a digital asset developed on smart contract platforms like Ethereum.
  3. Tokens can be created by implementing a smart contract using Ethereum token standards such as ERC20.
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